IIA-CIA-Part3-3P Exam Practice Test Instant Access

Question 1

A manager decided to build his team's enthusiasm by giving encouraging talks about employee empowerment, hoping to change the perception that management should make all decisions in the department.

The manager is most likely trying to impact which of the following components of his team's attitude?

AAffective component.

BCognition component.

CThinking component.

DBehavioral component.

Answer : A

Question 2

According to IIA guidance, which of the following is a broad collection of integrated policies, standards, and procedures used to guide the planning and execution of a project?

AProject portfolio.

BProject development.

CProject governance.

DProject management methodologies.

Answer : D

Question 3

A clothing company sells shirts for $8 per shirt. In order to break even, the company must sell 25,000 shirts. Actual sales total $300,000.

What is margin of safety sales for the company?

A$100,000

B$200,000

C$275,000

D$500,000

Answer : B

Question 4

A bond that matures after one year has a face value of $250,000 and a coupon of $30,000. If the market price of the bond is $265,000, which of the following would be the market interest rate?

ALess than 12 percent.

B12 percent.

CBetween 12.01 percent and 12.50 percent.

DMore than 12.50 percent.

Answer : A

Question 5

Which of the following statements is true regarding an investee that received a dividend distribution from an entity and is presumed to have little influence over the entity?

AThe cash dividends received increase the investee investment account accordingly.

BThe investee must adjust the investment account by the ownership interest.

CThe investment account is adjusted downward by the percentage of ownership.

DThe investee must record the cash dividends as dividend revenue.

Answer : D

Question 6

Which of the following controls is designed to mitigate a physical IT risk?

AAn automated fire prevention system.

BAccess control restrictions in a system.

CAnti-malware protection software.

DA network isolating firewall system.

Answer : B

Question 7

In accounting, which of the following statements is true regarding the terms debit and credit?

ADebit indicates the right side of an account and credit the left side.

BDebit means an increase in an account and credit means a decrease.

CCredit indicates the right side of an account and debit the left side.

DCredit means an increase in an account and debit means a decrease.

Answer : B

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IIA-CIA-Part3-3P CIA Exam Part Three: Business Knowledge for Internal Auditing Exam Practice Test