[Free] Download New Updated (October 2016) IIA IIA-CIA-Part1 Real Exam 241-250

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QUESTION 241

Which of the following is not an advantage of face-to-face interviews over electronic surveys?

 

A.

The response rate is typically higher.

B.

Interviewers can increase a respondent’s comprehension of questions.

C.

Survey designers can use a wider variety of question types.

D.

They are less expensive to distribute and compile data.

 

Correct Answer: D

 

 

QUESTION 242

Why is the concept of residual risk important?

 

A.

Because residual risk is difficult to measure.

B.

Because residual risk is all of the risk that remains after controls are established.

C.

Because the cost-benefit analysis supporting control design is part of the measure of residual risk.

D.

Because the risk that remains after control design and implementation needs to be acceptable to senior management.

 

Correct Answer: D

 

 

QUESTION 243

Which of the following are appropriate ways to obtain continuous professional education?

 

1. Instructing at a local IIA training event.

 

2. Attending internal audit conferences and seminars.

 

3. Practicing specialized audit and consulting work.

 

4. Participating in research projects in internal auditing.

 

A.

1 and 3 only

B.

1 and 2 only

C.

3 and 4 only

D.

1, 2, and 4 only

 

Correct Answer: D

 

 

QUESTION 244

Which of the following would be an appropriate outcome of a quality assurance and improvement program in an internal audit activity?

 

1. Modification of resources.

 

2. Corrections to procedures.

 

3. Changes in processes.

 

4. Implementation of new technology.

 

A.

2 and 4 only

B.

3 and 4 only

C.

1, 2, and 3 only

D.

1, 2, 3, and 4

 

Correct Answer: D

 

 

QUESTION 245

Which of the following internal auditor attributes are affected by a conflict of interest?

 

A.

Independence and authority.

B.

Authority and proficiency.

C.

Independence and objectivity.

D.

Objectivity and due professional care.

 

Correct Answer: C

 

 

QUESTION 246

An internal auditor is designing a sampling plan to test the accuracy of daily production reports over the past three years. All of the reports contain the same information except that Friday reports also contain weekly totals and are prepared by managers rather than by supervisors. Production normally peaks near the end of a month. If the auditor wants to select two reports per month using an interval sampling plan, which of the following techniques reduces the likelihood of bias in the sample?

 

A.

Estimating the error rate in the population.

B.

Using multiple random starts.

C.

Increasing the confidence level.

D.

Increasing the precision.

 

Correct Answer: B

 

 

QUESTION 247

Which of the following processes or tools can be used as ongoing internal assessments of the performance of the internal audit activity?

 

1. Analyses of audit plan completion and cost recoveries.

 

2. Selective peer reviews of work papers by staff involved in the respective audits.

 

3. Self-assessment of the internal audit activity with on-site validation by a qualified independent reviewer.

 

4. Feedback from audit customers and stakeholders.

 

A.

1 only

B.

1 and 2 only

C.

3 and 4 only

D.

1, 2, and 4 only

 

Correct Answer: D

 

 

QUESTION 248

Once the cause of a problem has been identified,the next step is to:

 

A.

Select a solution.

B.

Generate alternative solutions.

C.

Identify the problem.

D.

Consider the reaction of competitors to various courses of action.

 

Correct Answer: B

 

 

 

QUESTION 249

According to the Standards, a review team must express an opinion on which of the following when performing an external assessment of an internal audit activity?

 

1. Conformance with the Standards and IIA Code of Ethics.

 

2. Effectiveness of continuous improvement activities.

 

3. Feedback from internal audit customers and other stakeholder groups.

 

4. Efficiency and effectiveness of the internal audit activity’s administration processes.

 

A.

1 only

B.

3 only

C.

1 and 2 only

D.

2 and 4 only

 

Correct Answer: A

 

 

QUESTION 250

Which of the following is not a typical objective of any training plan developed for internal audit activity staff?

 

A.

Consistency.

B.

Economy.

C.

Quality.

D.

Relevance.

 

Correct Answer: B

 

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