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IIA IIA-CIA-Part3 Practice Test - Questions Answers, Page 2

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Question 11

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An organization is considering integration of governance, risk., and compliance (GRC) activities into a centralized technology-based resource. In implementing this GRC resource, which of the following is a key enterprise governance concern that should be fulfilled by the final product?

The board should be fully satisfied that there is an effective system of governance in place through accurate, quality information provided.
The board should be fully satisfied that there is an effective system of governance in place through accurate, quality information provided.
Compliance, audit, and risk management can find and seek efficiencies between their functions through integrated information reporting.
Compliance, audit, and risk management can find and seek efficiencies between their functions through integrated information reporting.
Key compliance and risk metrics can be tracked and compared throughout the enterprise, aiding in identifying problem departments.
Key compliance and risk metrics can be tracked and compared throughout the enterprise, aiding in identifying problem departments.
Data analytics can be utilized for trending of the data to ensure that patterns and ongoing monitoring occurs throughout the organization.
Data analytics can be utilized for trending of the data to ensure that patterns and ongoing monitoring occurs throughout the organization.
Suggested answer: A
asked 18/09/2024
Robert Smith
41 questions

Question 12

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At one organization, the specific terms of a contract require both the promisor and promisee to sign the contract in the presence of an independent witness. What is the primary role to the witness to these signatures?

A witness verifies the quantities of the copies signed.
A witness verifies the quantities of the copies signed.
A witness verifies that the contract was signed with the free consent of the promisor and promisee.
A witness verifies that the contract was signed with the free consent of the promisor and promisee.
A witness ensures the completeness of the contract between the promisor and promisee.
A witness ensures the completeness of the contract between the promisor and promisee.
A witness validates that the signatures on the contract were signed by the promisor and promisee.
A witness validates that the signatures on the contract were signed by the promisor and promisee.
Suggested answer: D
asked 18/09/2024
Reece Scarley
46 questions

Question 13

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An internal auditor is assigned to perform data analytics. Which of the following is the next step the auditor should undertake after she has ascertained the value expected from the review?

Normalize the data,
Normalize the data,
Obtain the data
Obtain the data
Identify the risks.
Identify the risks.
Analyze the data.
Analyze the data.
Suggested answer: C
asked 18/09/2024
Robin Koele
39 questions

Question 14

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Which of the following actions is likely to reduce the risk of violating transfer pricing regulations?

The organization sells inventory to an overseas subsidiary at fair value.
The organization sells inventory to an overseas subsidiary at fair value.
The local subsidiary purchases inventory at a discounted price.
The local subsidiary purchases inventory at a discounted price.
The organization sells inventory to an overseas subsidiary at the original cost.
The organization sells inventory to an overseas subsidiary at the original cost.
The local subsidiary purchases inventory at the depreciated cost.
The local subsidiary purchases inventory at the depreciated cost.
Suggested answer: C
asked 18/09/2024
Farrah Colson
39 questions

Question 15

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Which of the following statements is true regarding user-developed applications (UDAs)?

UDAs are less flexible and more difficult to configure than traditional IT applications.
UDAs are less flexible and more difficult to configure than traditional IT applications.
Updating UDAs may lead to various errors resulting from changes or corrections.
Updating UDAs may lead to various errors resulting from changes or corrections.
UDAs typically are subjected to application development and change management controls.
UDAs typically are subjected to application development and change management controls.
Using UDAs typically enhances the organization's ability to comply with regulatory factors.
Using UDAs typically enhances the organization's ability to comply with regulatory factors.
Suggested answer: B
asked 18/09/2024
Pichai Chaipoon
49 questions

Question 16

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Which of the following represents a basis for consolidation under the International Financial Reporting Standards?

Variable entity approach.
Variable entity approach.
Control ownership.
Control ownership.
Risk and reward.
Risk and reward.
Voting interest.
Voting interest.
Suggested answer: A
asked 18/09/2024
Lee Michael
51 questions

Question 17

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Which of the following scenarios best illustrates a spear phishing attack?

Numerous and consistent attacks on the company's website caused the server to crash and service was disrupted.
Numerous and consistent attacks on the company's website caused the server to crash and service was disrupted.
A person posing as a representative of the company's IT help desk called several employees and played a generic prerecorded message requesting password data.
A person posing as a representative of the company's IT help desk called several employees and played a generic prerecorded message requesting password data.
A person received a personalized email regarding a golf membership renewal, and he clicked a hyperlink to enter his credit card data into a fake website.
A person received a personalized email regarding a golf membership renewal, and he clicked a hyperlink to enter his credit card data into a fake website.
Many users of a social network service received fake notifications of a unique opportunity to invest in a new product
Many users of a social network service received fake notifications of a unique opportunity to invest in a new product
Suggested answer: C
asked 18/09/2024
Kelvin Galabuzi
46 questions

Question 18

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An organization discovered fraudulent activity involving the employee time-tracking system. One employee regularly docked in and clocked out her co-worker friends on their days off, inflating their reported work hours and increasing their wages. Which of the following physical authentication devices would be most effective at disabling this fraudulent scheme?

Face or finger recognition equipment,
Face or finger recognition equipment,
Radiofrequency identification chips to authenticate employees with cards.
Radiofrequency identification chips to authenticate employees with cards.
A requirement to clock in and clock out with a unique personal identification number.
A requirement to clock in and clock out with a unique personal identification number.
A combination of a smart card and a password to clock in and clock out.
A combination of a smart card and a password to clock in and clock out.
Suggested answer: D
asked 18/09/2024
Emanuel Sifuentes
50 questions

Question 19

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Which of the following best describes owner's equity?

Assets minus liabilities.
Assets minus liabilities.
Total assets.
Total assets.
Total liabilities.
Total liabilities.
Owners contribution plus drawings.
Owners contribution plus drawings.
Suggested answer: A
asked 18/09/2024
Vasco Ricardo Ribeiro
32 questions

Question 20

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Which of the following describes a mechanistic organizational structure?

Primary direction of communication tends to be lateral.
Primary direction of communication tends to be lateral.
Definition of assigned tasks tends to be broad and general.
Definition of assigned tasks tends to be broad and general.
Type of knowledge required tends to be broad and professional.
Type of knowledge required tends to be broad and professional.
Reliance on self-control tends to be low.
Reliance on self-control tends to be low.
Suggested answer: D
asked 18/09/2024
Tom Säll
42 questions
Total 340 questions
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Related questions

Which of the following physical security controls is able to serve as both a detective and preventive control?
Which of the following performance measures includes both profits and investment base?
Which of the following statements is true regarding cost-volume-profit analysis?
Which of the following common quantitative techniques used in capital budgeting is best associated with the use of a table that describes the present value of an annuity?
At an organization that uses a periodic inventory system, the accountant accidentally understated the organization s beginning inventory. How would the accountant's accident impact the income statement?
A retail organization mistakenly did have include $10,000 of Inventory in the physical count at the end of the year. What was the impact to the organization's financial statements?
Which of the following is the best example of a compliance risk that Is likely to arise when adopting a bring-your-own-device (BYOD) policy?
A newly appointed board member received an email that appeared to be from the company's CEO. The email stated: "Good morning. As you remember, the closure of projects is our top priority. Kindly organize prompt payment of the attached invoice for our new solar energy partners." The board member quickly replied to the email and asked under which project the expense should be accounted. Only then did he realize that the sender 's mail domain was different from the company's. Which of the following cybersecurity risks nearly occurred in the situation described?
Which of the following is a result of Implementing on e-commerce system, which relies heavily on electronic data interchange and electronic funds transfer, for purchasing and biting?
An internal audit activity is piloting a data analytics model, which aims to identify anomalies in payments to vendors and potential fraud indicators. Which of the following would be the most appropriate criteria for assessing the success of the piloted model?