Practice IIA-CIA-Part3 Exam Online

Question 1

Which of the following can be classified as debt investments?

A : Investments in the capital stock of a corporation.

B : Acquisition of government bonds.

C : Contents of an investment portfolio.

D : Acquisition of common of a stock corporation.

Answer: B

Question 2

As it relates to the data analytics process, which of the following best describes the purpose of an internal auditor who cleaned and normalized data?

A : The auditor eliminated duplicate information.

B : The auditor organized data to minimize useless information.

C : The auditor made data usable for a specific purpose by ensuring that anomalies were identified and corrected.

D : The auditor ensured data fields were consistent and that data could be used for a specific purpose.

Answer: A

Question 3

Which of the following is a characteristic of an emerging industry?

A : Established strategy of players.

B : Low number of new firms.

C : High unit costs.

D : Technical expertise.

Answer: C

Question 4

During a review of the accounts payable process, an internal auditor gathered all of the vendor payment transactions for the past 24 months. The auditor then used an analytics tool to identify the top five vendors that received the highest sum of payments.

Which of the following analytics techniques did the auditor apply?

A : Process analysis.

B : Process mining.

C : Data analysis.

D : Data mining.

Answer: A

Question 5

Organizational activities that complement each other and create a competitive advantage are called a:

A : Merger.

B : Strategic fit.

C : Joint venture.

D : Strategic goal.

Answer: B

Name:	Business Knowledge for Internal Auditing
Exam Code:	IIA-CIA-Part3
Certification:	Certified Internal Auditor
Vendor:	IIA
Total Questions:	628
Last Updated:	May 02, 2024

IIA IIA-CIA-Part3