IIA-CIA-PART3 practice questions 41–50

1. Question 41 · 336 in bank

   Which of the following statements is most accurate concerning the management and audit of a web server?

   • AThe file transfer protocol (FTP) should always be enabled.
   • BThe simple mail transfer protocol (SMTP) should be operating under the most privileged accounts.
   • CThe number of ports and protocols allowed to access the web server should be maximized.
   • DSecure protocols for confidential pages should be used instead of clear-text protocols such as HTTP or FTP.

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   Answer: D

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2. Question 42 · 336 in bank

   An organization uses a database management system (DBMS) as a repository for data. The DBMS, in turn, supports a number of end-user developed applications which were created using fourth-generation programming languages. Some of the applications update the database. Which of the following is the most important control related to the integrity of the data in the database?

   • AEnd users have their read-only applications approved by the information systems department before accessing the database.
   • BConcurrency update controls are in place.
   • CEnd-user applications are developed on personal computers before being implemented on the mainframe.
   • DA hierarchical database model is adopted so that multiple users can be served at the same time.

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   Answer: B

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3. Question 43 · 336 in bank

   Which of the following statements is true regarding managerial accounts?

   • AThey must be prepared at least on a monthly basis.
   • BThey should be verifiable by external auditors.
   • CThey should be easily understandable by all management team members.
   • DThey should exclusively meet the needs of the user.

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   Answer: B

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4. Question 44 · 336 in bank

   A retail organization mistakenly did not include $10,000 of inventory in the physical count at the end of the year. What was the impact to the organization's financial statements?

   • ACost of sales and net income are understated.
   • BCost of sales and net income are overstated.
   • CCost of sales is understated and net income is overstated.
   • DCost of sales is overstated and net income is understated.

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   Answer: A

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5. Question 45 · 336 in bank

   One change control function that is required in client/server environments, but is not required in mainframe environments, is to ensure that:

   • AProgram versions are synchronized across the network.
   • BEmergency move procedures are documented and followed.
   • CAppropriate users are involved in program change testing.
   • DMovement from the test library to the production library is controlled.

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   Answer: A

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6. Question 46 · 336 in bank

   Which of the following is an example of an application control?

   • AAutomated password change requirements.
   • BSystem data backup process.
   • CUser testing of system changes.
   • DFormatted data fields.

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   Answer: D

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7. Question 47 · 336 in bank

   A key advantage of developing a computer application by using the prototyping approach is that it:

   • ADoes not require testing for user acceptance.
   • BAllows applications to be portable across multiple system platforms.
   • CIs less expensive since it is self-documenting.
   • DBetter involves users in the design process.

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   Answer: D

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8. Question 48 · 336 in bank

   An internal auditor is using data analytics to focus on high-risk areas during an engagement. The auditor has obtained data and is working to eliminate redundancies in the data. Which of the following statements is true regarding this scenario?

   • AThe auditor is normalizing data in preparation for analyzing it.
   • BThe auditor is analyzing the data in preparation for communicating the results.
   • CThe auditor is cleaning the data in preparation for determining which processes may be involved.
   • DThe auditor is reviewing the data prior to defining the question.

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   Answer: A

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9. Question 49 · 336 in bank

   An internal auditor was asked to review an equal equity partnership. In one sampled transaction, Partner A transferred equipment into the partnership with a self- declared value of $10,000, and Partner B contributed equipment with a self-declared value of $15,000. The capital accounts of each partner were subsequently credited with $12,500. Which of the following statements is true regarding this transaction?

   • AThe capital accounts of the partners should be increased by the original cost of the contributed equipment.
   • BThe capital accounts should be increased using a weighted average based on the current percentage of ownership.
   • CNo action is needed, as the capital account of each partner was increased by the correct amount.
   • DThe capital accounts of the partners should be increased by the fair market value of their contribution.

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   Answer: C

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10. Question 50 · 336 in bank

    The first step in determining product price is:

    • ADetermining the cost of the product.
    • BDeveloping pricing objectives.
    • CEvaluating prices set by the competitors.
    • DSelecting a pricing method.

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    Answer: B

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IIA-CIA-PART3 practice, question 41. 336 questions available.