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100% Pass IIA-CIA-Part3 Certification Training - Realistic Latest Business Knowledge for Internal Auditing Dumps Questions

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IIA-CIA-Part3 exam is designed for internal auditors who want to enhance their knowledge and skills in business-related areas. It is also suitable for those who want to pursue a career in internal auditing or those who wish to enhance their knowledge in business management. IIA-CIA-Part3 Exam is particularly relevant for internal auditors who work in industries such as finance, healthcare, and manufacturing, where business knowledge is essential.

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IIA-CIA-Part3 exam is a critical component of the CIA certification program and is essential for professionals who want to establish themselves as experts in the field of internal auditing. By passing IIA-CIA-Part3 Exam and earning the CIA certification, individuals can enhance their career prospects, demonstrate their knowledge and skills to potential employers and clients, and gain recognition as a leader in the field.

IIA Business Knowledge for Internal Auditing Sample Questions (Q101-Q106):

NEW QUESTION # 101
According to IIA guidance, which of the following is the correct order to conduct a business impact analysis (BIA) for the potential loss of an organization's network services''
1. identify resources and partners to provide required recovery services
2. Identify the business processes supporting the network functionality
3. Obtain approval of the BIA from the operating managers relative to their areas of responsibility
4. Identify the business impact if the network services cannot be performed

A. 2, 4, 1, 3
B. 1, 2, 3, 4
C. 4, 2, 1, 3
D. 2, 1, 4, 3

Answer: D

NEW QUESTION # 102
A division uses a regression in which monthly advertising expenditures are used to predict monthly product sales (both in millions of US dollars). The results show a regression coefficient for the independent variable equal to 0.8. This coefficient value indicates that:

A. When monthly advertising is at its average level, product sales will be US $800,000.
B. The average monthly advertising expenditure in the sample is US $800,000.
C. Advertising is not a good predictor of sales because the coefficient is so small.
D. On average, every additional dollar of advertising results in US $.80 of additional sales.

Answer: D

Explanation:
The regression coefficient represents the change in the dependent variable corresponding to a unit change in the independent variable. Thus, it is the slope of the regression line, represented by b in the linear equation y=a + bx.

NEW QUESTION # 103
In Year 2, a manufacturing company instituted a total quality management (TQM) program producing the following report:

On the basis of this report, which one of the following statements is most likely true?

A. An increase in prevention and appraisal costs resulted in a higher quality product and therefore resulted in a decrease in failure costs.
B. Quality costs, such as scrap and rework, decreased by 48%.
C. Quality costs, such as returns and repairs under warranty, decreased by 40%.
D. An increase in inspection costs was solely responsible for the decrease in quality costs.

Answer: A

Explanation:
Prevention and appraisal costs increased substantially, but internal and external failure costs decreased. Thus, the soundest conclusion is that the increase in prevention and appraisal costs resulted in a higher-quality product.

NEW QUESTION # 104
What would be the effect it an organization paid one of its liabilities twice during the year in error?

A. Assets and liabilities would be understated
B. Assets liabilities and owners' equity would be understated
C. Assets net income and owners' equity would be understated, but liabilities would be overstated
D. Assets net income and owners' equity would be unaffected

Answer: D

NEW QUESTION # 105
A financial institution receives frequent and varied email requests from customers for funds to be wired out of their accounts. Which verification activity would best help the institution avoid falling victim to phishing?

A. Reviewing the customer's wire activity to determine whether the request is typical.
B. Replying to the customer via email to validate the sender and request.
C. Reviewing the customer record to verify whether the customer has authorized wire requests from that email address.
D. Calling the customer at the phone number on record to validate the request.

Answer: D

NEW QUESTION # 106
......

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