IIA-CIA-PART3 practice questions 151–160

1. Question 151 · 336 in bank

   Which of the following security controls would provide the most efficient and effective authentication for customers to access their online shopping account?

   • A12-digit password feature.
   • BSecurity question feature.
   • CVoice recognition feature.
   • DTwo-level sign-on feature.

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   Answer: D

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2. Question 152 · 336 in bank

   An organization accumulated the following data for the prior fiscal year: Value of - Percentage of - Quarter - Output Produced - Cost X - $4,750,000 2.9 $4,700,000 3.0 $4,350,000 3.2 $4,000,000 3.5 Based on this data, which of the following describes the value of Cost X in relation to the value of Output Produced?

   • ACost X is a variable cost.
   • BCost X is a fixed cost.
   • CCost X is a semi-fixed cost.
   • DCost X and the value of Output Produced are unrelated.

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   Answer: B

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3. Question 153 · 336 in bank

   Which of the following statements is false regarding the internal audit approach when a set of standards other than The IIA's Standards is applicable to a specific engagement?

   • AThe internal auditor may cite the use of other standards during audit communications.
   • BIf the other standards are government-issued, the internal auditor should apply them in conjunction with The IIA's Standards.
   • CIf there are inconsistencies between the other standards and The IIA's Standards, the internal auditor must use the more restrictive standards.
   • DIf there are inconsistencies between the other standards and The IIA's Standards, the internal auditor must use the less restrictive standards.

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   Answer: D

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4. Question 154 · 336 in bank

   During a review of the accounts payable process, an internal auditor gathered all of the vendor payment transactions for the past 24 months. The auditor then used an analytics tool to identify the top five vendors that received the highest sum of payments. Which of the following analytics techniques did the auditor apply?

   • AProcess analysis.
   • BProcess mining.
   • CData analysis.
   • DData mining.

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   Answer: C

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5. Question 155 · 336 in bank

   An internal auditor is trying to assess control risk and the effectiveness of an organization's internal controls. Which of the following audit procedures would not provide assurance to the auditor on this matter?

   • AInterviewing the organization's employees.
   • BObserving the organization's operations.
   • CReading the board's minutes.
   • DInspecting manuals and documents.

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   Answer: C

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6. Question 156 · 336 in bank

   According to the International Professional Practices Framework, which of the following statements is true regarding a corporate social responsibility (CSR) program? 1. Every employee generally has a responsibility for ensuring the success of CSR objectives. 2. The board has overall responsibility for the effectiveness of internal control processes associated with CSR. 3. Public reporting on the CSR governance process is expected. 4. Organizations generally have flexibility regarding what is included in a CSR program.

   • A1, 2, and 3 only
   • B1, 2, and 4 only
   • C1, 3, and 4 only
   • D2, 3, and 4 only

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   Answer: B

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7. Question 157 · 336 in bank

   Which of the following is true of bond financing, compared to common stock, when all other variables are equal?

   • ALower shareholder control.
   • BLower indebtedness.
   • CHigher company earnings per share.
   • DHigher overall company earnings.

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   Answer: A

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8. Question 158 · 336 in bank

   Which of the following attributes of data is the most significantly impacted by the internet of things?

   • ANormalization.
   • BVelocity.
   • CStructurization.
   • DVeracity.

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   Answer: C

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9. Question 159 · 336 in bank

   Which of the following is an example of a risk avoidance response?

   • ABuying an insurance policy to protect against loss events.
   • BHedging against natural gas price fluctuations.
   • CSelling a non-strategic business unit.
   • DOutsourcing a high risk process to a third party.

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   Answer: C

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10. Question 160 · 336 in bank

    Which of the following is accurate regarding help desk service providers?

    • APerformance results, deficiencies, and remediation should not be used as criteria for ongoing vendor evaluation.
    • BTurn-around time cannot always be defined for each level of service in complex environments.
    • COngoing monitoring procedures that measure and compare actual performance to the expected service-level parameters must be set by the service provider.
    • DAny problems troubleshooting can be categorized as a help desk service.

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    Answer: C

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IIA-CIA-PART3 practice, question 151. 336 questions available.