[Free] Download New Updated (October 2016) IIA IIA-CIA-Part3 Real Exam 61-70

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QUESTION 61

The economic order quantity can be calculated using the following formula:

 

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Which of the following describes how the optimal order size will change if the annual demand increases by 36 percent?

 

A.

Decrease by about 17 percent.

B.

Decrease by about 7 percent.

C.

Increase by about 7 percent.

D.

Increase by about 17 percent.

 

Correct Answer: D

 

 

QUESTION 62

A department purchased one copy of a software program for internal use. The manager of the department installed the program on an office computer and then made two complete copies of the original software.

 

Copy 1 was solely for backup purposes.

 

Copy 2 was for use by another member of the department.

 

In terms of software licenses and copyright law, which of the following is correct?

 

A.

Both copies are legal.

B.

Only copy 1 is legal.

C.

Only copy 2 is legal.

D.

Neither copy is legal.

 

Correct Answer: B

 

 

QUESTION 63

In an organization where enterprise risk management practices are mature, which of the following is a core internal audit role?

 

A.

Giving assurance that risks are evaluated correctly.

B.

Developing the risk management strategy for the board’s approval.

C.

Facilitating the identification and evaluation of risks.

D.

Coaching management in responding to risk.

 

Correct Answer: A

 

 

QUESTION 64

Which of the following are appropriate functions for an IT steering committee?

 

1. Assess the technical adequacy of standards for systems design and programming.

 

2. Continually monitor of the adequacy and accuracy of software and hardware in use.

 

3. Assess the effects of new technology on the organization`s IT operations.

 

4. Provide broad oversight of implementation, training, and operation of new systems.

 

A.

1, 2, and 3

B.

1, 2, and 4

C.

1, 3, and 4

D.

2, 3, and 4

 

Correct Answer: D

 

 

QUESTION 65

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

 

A.

Established strategy of players.

B.

Low number of new firms.

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High unit costs.

D.

Technical expertise.

 

Correct Answer: C

 

 

QUESTION 66

Which of the following IT strategies is most effective for responding to competitive pressures created by the marketplace?

 

A.

Promote closer linkage between organizational strategy and information.

B.

Provide users with greater online access to information systems.

C.

Enhance the functionality of application systems.

D.

Expand the use of automated controls.

 

Correct Answer: C

 

 

QUESTION 67

Multinational organizations generally spend more time and effort to identify and evaluate:

 

A.

Internal strengths and weaknesses.

B.

Break-even points.

C.

External trends and events.

D.

Internal risk factors.

 

Correct Answer: C

 

 

QUESTION 68

When assessing the adequacy of a risk mitigation strategy, an internal auditor should consider which of the following?

 

1. Management’s tolerance for specific risks.

 

2. The cost versus benefit of implementing a control.

 

3. Whether a control can mitigate multiple risks.

 

4. The ability to test the effectiveness of the control.

 

A.

1, 2, and 3

B.

1, 2, and 4

C.

1, 3, and 4

D.

2, 3, and 4

 

Correct Answer: C

 

 

QUESTION 69

An organization engages in questionable financial reporting practices due to pressure to meet unrealistic performance targets. Which internal control component is most negatively affected?

 

A.

Monitoring.

B.

Control activities.

C.

Risk assessment.

D.

Control environment.

 

Correct Answer: D

 

 

QUESTION 70

According to the Standards, the internal audit activity must evaluate risk exposures relating to which of the following when examining an organization’s risk management process?

 

1. Organizational governance.

 

2. Organizational operations.

 

3. Organizational information systems.

 

4. Organizational structure.

 

A.

1 and 3 only

B.

2 and 4 only

C.

1, 2, and 3 only

D.

1, 2, and 4 only

 

Correct Answer: C

 

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