[Free] Download New Updated (October 2016) IIA IIA-CIA-Part2 Real Exam 151-160

Ensurepass

QUESTION 151

A company owns a machine that will produce 100 light switches in four hours. Due to increased demand, a second machine capable of producing 100 light switches in three hours has been added. Approximately how many hours will it take to produce 100 light switches using both machines working together?

 

A.

7.0

B.

3.5

C.

1.7

D.

0.58

 

Correct Answer: C

 

 

QUESTION 152

An auditor decides to vouch a sample of ledger entries back to their original documentation. In terms of whether all transactions had been recorded, this test would bE.

 

A.

Relevant to the completeness objective.

B.

Irrelevant to the completeness objective.

C.

A more timely test of completeness than evidence from interviews.

D.

A more biased test of completeness than evidence from interviews.

 

Correct Answer: B

QUESTION 153

Which of the following would not be characteristic of control self-assessment implemented by an audit department?

 

A.

An auditor usually facilitates the discussion during the workshop phase while another records comments for subsequent use.

B.

Auditors and business-unit employees work as a team.

C.

Auditors perform traditional audit tests to identify control weaknesses.

D.

Participants discuss the control weaknesses that hinder the achievement of objectives.

 

Correct Answer: C

 

 

QUESTION 154

Questions used to interrogate individuals suspected of fraud should:

 

A.

Adhere to a predetermined order.

B.

Cover more than one subject or topic.

C.

Move from general to specific.

D.

Direct the individual to a desired answer.

 

Correct Answer: C

 

 

QUESTION 155

Which of the following activities would be performed during a benchmarking consulting engagement?

 

I. Collect data relevant to the benchmarking process.

 

II. Review all business processes.

 

III. Define critical success factors.

 

IV. Identify performance gaps.

 

A.

I and III only

B.

II and IV only

C.

I, II, and III only

D.

I, III, and IV only

 

Correct Answer: D

 

 

QUESTION 156

Which of the following is typically not a reason for committing financial statement fraud?

 

A.

To dispel negative market perception.

B.

To disguise a duplicate payment to a vendor.

C.

To obtain more favorable terms on financing.

D.

To receive performance-related bonuses.

 

Correct Answer: B

QUESTION 157

The most effective method of reporting engagement results to management and stimulating action is to:

 

A.

Deliver a lecture on the engagement results.

B.

Limit verbal commentary and present a series of slides that graphically depict the engagement results.

C.

Use slides to support a discussion of major points.

D.

Distribute copies of the report, ask the participants to read the report, and ask for questions.

 

Correct Answer: C

 

 

QUESTION 158

What is the primary reason for having audit management approve audit engagement reports?

 

A.

To ensure that client concerns are appropriately addressed.

B.

To confirm proper format, grammar, and punctuation.

C.

To verify that senior management supports the report’s conclusions.

D.

To validate that report findings are substantiated.

 

Correct Answer: D

 

 

QUESTION 159

Recommendations should be included in the audit report in order to:

 

A.

Provide management with options for addressing audit findings.

B.

Ensure that audit findings are resolved in the manner suggested by the auditor.

C.

Minimize the amount of time required to correct audit findings.

D.

Ensure that audit findings are addressed by management.

 

Correct Answer: A

 

 

QUESTION 160

An organization contracted a third party to construct a new facility that was estimated to cost $25 million. Which of the following is the most pertinent reason for the organization to audit the contractor’s records?

 

A.

The contract includes a right-to-audit clause.

B.

The contractor will be paid on a cost-plus basis.

C.

The estimated cost is high.

D.

The contractor has subcontracted much of the work.

 

Correct Answer: B

 

Free VCE & PDF File for IIA IIA-CIA-Part2 Real Exam

Instant Access to Free VCE Files: CompTIA | VMware | SAP …
Instant Access to Free PDF Files: CompTIA | VMware | SAP …

This entry was posted in IIA-CIA-Part2 Actual Test (October 2016) and tagged , , , , , , , . Bookmark the permalink.