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Valid IIA-CIA-Part3 Test Cost, Latest IIA-CIA-Part3 Exam Pattern

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Introduction of IIA CIA Part 3 Exam

The Certified Internal Auditor (CIA) is an advanced professional certification for internal auditors. It is a globally recognized certification and is based on the International Professional Practices Framework (IPPF) of the IIA. The CIA exam consists of three parts. Part 1 covers the foundations of internal auditing, Part 2 covers business knowledge for internal auditing, and Part 3 covers internal audit practices. This article discusses the topic matter covered in Part 3 of the CIA exam. It also provides a sample question and answer to help candidates better prepare for this exam. The IIA CIA part 3 exam dumps are also one of the most complete study guides available. You will learn all the required topics and get a full understanding of them.

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Desktop IIA IIA-CIA-Part3 Practice Exam Software is a one-of-a-kind and very effective software developed to assist applicants in preparing for the IIA IIA-CIA-Part3 certification test. The Desktop IIA IIA-CIA-Part3 Practice Exam Software that we provide includes a self-assessment feature that enables you to test your knowledge by taking simulated tests and evaluating the results.

IIA Business Knowledge for Internal Auditing Sample Questions (Q108-Q113):

NEW QUESTION # 108
Which of the following actions is most likely to gain support for process change?

A. Demonstrate support from senior management.
B. Establish key competencies.
C. Engage the various communities of practice within the organization.
D. Set clear objectives.

Answer: C

NEW QUESTION # 109
The average labor cost per unit for the first batch produced by a new process is US $120. The cumulative average labor cost after the second batch is US $72 per product. Using a batch size of 100 and assuming the learning curve continues, the total labor cost of four batches will be:

A. US$4,320
B. US$17,280
C. US$2,592
D. US$10,368

Answer: B

Explanation:
The learning curve reflects the increased rate at which people perform tasks as they gain experience. The time required to perform a given task becomes progressively shorter. Ordinarily, the curve is expressed in a percentage of reduced time to complete a task for each doubling of cumulative production. One common assumption in a learning curve model is that the cumulative average time (and labor cost) per unit is reduced by a certain percentage each time production doubles. Given a US $120 cost per unit for the first 100 units and a US $72 cost per unit when cumulative production doubled to 200 units, the learning curve percentage must be 60% (US $72 + $120). If production is again doubled to 400 units (four batches), the average unit labor cost should be US $43.20 ($72 x 60%). Hence, total labor cost for 400 units is estimated to be US $17,280 (400 units x $43.20).

NEW QUESTION # 110
The management of working capital is most crucial for which of the following aspects of business?

A. Efficiency
B. Solvency
C. Profitability
D. Liquidity

Answer: D

NEW QUESTION # 111
Regardless of whether a company develops, buys, leases, or pays for the use of the software for EDI transmissions, internal audit should be responsible for evaluating whether the software:

A. Is backed up adequately to permit recovery.
B. Was acquired with adequate review by legal counsel.
C. Was developed in a controlled environment.
D. Meets business objectives.

Answer: D

Explanation:
An EDI application should meet business objectives and satisfy user and control requirements. The internal auditors should consider the organization's important EDI applications because they represent significant risk exposures and control problems. This role is within the scope of work of the internal auditors, who are charged with examining and evaluating internal control and the quality of performance in carrying out assigned responsibilities.

NEW QUESTION # 112
Which of the following is a primary driver behind the creation and prloritteation of new strategic Initiatives established by an organization?

A. Performance
B. Threats and opportunities
C. Risk tolerance
D. Governance

Answer: B

NEW QUESTION # 113
......

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