[Free] Download New Updated (October 2016) IIA IIA-CIA-Part3 Real Exam 21-30

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QUESTION 21

The first step in determining product price is:

 

A.

Determining the cost of the product.

B.

Developing pricing objectives.

C.

Evaluating prices set by the competitors.

D.

Selecting a pricing method.

 

Correct Answer: B

 

 

QUESTION 22

Which of the following strategies is most appropriate for an industry that is in decline?

 

A.

Invest in marketing.

B.

Invest in research and development.

C.

Control costs.

D.

Shift toward mass production.

 

Correct Answer: C

 

 

QUESTION 23

Which of the following describes the result if an organization records merchandise as a purchase, but fails to include it in the closing inventory count?

 

A.

The cost of goods sold for the period will be understated.

B.

The cost of goods sold for the period will be overstated.

C.

The net income for the period will be understated.

D.

There will be no effect on the cost of goods sold or the net income for the period.

 

Correct Answer: B

 

 

QUESTION 24

Which of the following would provide the most relevant assurance that the application under development will provide maximum value to the organization?

 

A.

Use of a formal systems development lifecycle.

B.

End-user involvement.

C.

Adequate software documentation.

D.

Formalized non-regression testing phase.

 

Correct Answer: B

 

 

QUESTION 25

Which of the following purchasing scenarios would gain the greatest benefit from implementing electronic data interchange?

 

A.

A time-sensitive just-in-time purchase environment.

B.

A large volume of custom purchases.

C.

A variable volume sensitive to material cost.

D.

A currently inefficient purchasing process.

 

Correct Answer: A

 

 

QUESTION 26

If legal or regulatory standards prohibit conformance with certain parts of The IIA’s Standards, the auditor should do which of the following?

 

A.

Conform with all other parts of The IIA’s Standards and provide appropriate disclosures.

B.

Conform with all other parts of The IIA’s Standards; there is no need to provide appropriate disclosures.

C.

Continue the engagement without conforming with the other parts of The IIA’s Standards.

D.

Withdraw from the engagement.

 

Correct Answer: A

 

 

QUESTION 27

Which of the following statements pertaining to a market skimming pricing strategy is not true?

 

A.

The strategy is favored when unit costs fall with the increase in units produced.

B.

The strategy is favored when buyers are relatively insensitive to price increases.

C.

The strategy is favored when there is insufficient market capacity and competitors cannot increase market capacity.

D.

The strategy is favored when high price is perceived as high quality.

 

Correct Answer: A

 

 

QUESTION 28

Capacity overbuilding is most likely to occur when management is focused on which of the following?

 

A.

Marketing.

B.

Finance.

C.

Production.

D.

Diversification.

 

Correct Answer: C

QUESTION 29

During which phase of disaster recovery planning should an organization identify the business units, assets, and systems that are critical to continuing an acceptable level of operations?

 

A.

Scope and initiation phase.

B.

Business impact analysis.

C.

Plan development.

D.

Testing.

 

Correct Answer: B

 

 

QUESTION 30

Which of the following most accurately describes the purpose of application authentication controls?

 

A.

To ensure that data input into business applications is valid, complete, and accurate.

B.

To prevent or detect errors in data processed using business applications.

C.

To ensure that business applications are protected from unauthorized logical access.

D.

To ensure the validity, accuracy, and completeness of outputs from business applications.

 

Correct Answer: C

 

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