Practice IIA-ACCA Exam Online

Question 1

Which of the following is a characteristic of just-in-time inventory management systems?

A : Users determine the optimal level of safety stocks.

B : They are applicable only to large organizations.

C : They do not really increase overall economic efficiency because they merely shift inventory levels further up the supply chain.

D : They rely heavily on high quality materials.

Answer: D

Question 2

Which of the following are likely indicators of ineffective change management?

1. IT management is unable to predict how a change will impact interdependent systems or business processes.

2. There have been significant increases in trouble calls or in support hours logged by programmers.

3. There is a lack of turnover in the systems support and business analyst development groups.

4. Emergency changes that bypass the normal control process frequently are deemed necessary.

A : 1 and 3 only

B : 2 and 4 only

C : 1, 2, and 4 only

D : 1, 2, 3, and 4

Answer: C

Question 3

An organization's internal audit plan includes a recurring assurance review of the human resources (HR) department. Which of the following statements is true regarding preliminary communication between the auditor in charge (AIC) and the HR department?

1. The AIC should notify HR management when the draft audit plan is being developed, as a courtesy.

2. The AIC should notify HR management before the planning stage begins.

3. The AIC should schedule formal status meetings with HR management at the start of the engagement.

4. The AIC should finalize the scope of the engagement before communicating with HR management.

A : 1 and 3

B : 1 and 4

C : 2 and 3

D : 2 and 4

Answer: C

Question 4

The critical path for any project is the path that exhibits which of the following characteristics?

A : Has the longest duration in time.

B : Costs the most money.

C : Requires the largest amount of labor

D : Is deemed most important to the project.

Answer: A

Question 5

Which type of bond sells at a discount from face value, then increases in value annually until it reaches maturity and provides the owner with the total payoff?

A : High-yield bonds.

B : Commodity-backed bonds.

C : Zero coupon bonds.

D : Junk bonds.

Answer: C

Name:	ACCA CIA Challenge
Exam Code:	IIA-ACCA
Certification:	Certified Internal Auditor
Vendor:	IIA
Total Questions:	610
Last Updated:	Jul 14, 2026

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