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IIA-CIA-Part3-3P Exam Dumps : CIA Exam Part Three: Business Knowledge for Internal Auditing

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IIA IIA-CIA-Part3-3P Exam Dumps FAQs

Q. # 1: What is the IIA IIA-CIA-Part3-3P Exam?

The IIA IIA-CIA-Part3-3P Exam, also known as the Certified Internal Auditor Part 3, tests candidates' knowledge of business acumen, information security, information technology, and financial management.

Q. # 2: Who is the target audience for the IIA IIA-CIA-Part3-3P Exam?

The target audience for the IIA IIA-CIA-Part3-3P exam includes internal auditors, audit managers, and professionals seeking to enhance their business knowledge and auditing skills.

Q. # 3: What topics are included in the IIA IIA-CIA-Part3-3P Exam?

The IIA IIA-CIA-Part3-3P exam covers four domains: Business Acumen, Information Security, Information Technology, and Financial Management.

Q. # 4: How many questions are on the IIA IIA-CIA-Part3-3P Exam?

The IIA IIA-CIA-Part3-3P exam consists of 100 questions.

Q. # 5: How long does it take to complete the IIA IIA-CIA-Part3-3P Exam?

Candidates have 2 hours (120 minutes) to complete the IIA IIA-CIA-Part3-3P exam.

Q. # 6: What is the passing score for the IIA IIA-CIA-Part3-3P Exam?

The passing score for the IIA IIA-CIA-Part3-3P exam is generally set by IIA at 600 on a scale of 250-750.

Q. # 7: What is the difference between IIA IIA-CIA-Part3-3P and IIA-CIA-Part2 Exams?

The IIA IIA-CIA-Part3-3P Exam and the IIA-CIA-Part2 Exam are both part of the Certified Internal Auditor (CIA) certification program, but they focus on different areas of internal auditing.

  • IIA IIA-CIA-Part3-3P Exam: The IIA IIA-CIA-Part3-3P Exam emphasizes business knowledge for internal auditing. It tests candidates on their understanding of business acumen, information security, information technology, and financial management concepts essential for internal auditors.
  • IIA IIA-CIA-Part2 Exam: The IIA IIA-CIA-Part2 Exam is on managing the internal audit activity. It covers planning and conducting engagements, as well as communicating results and monitoring progress to ensure effective audit practices.

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CIA Exam Part Three: Business Knowledge for Internal Auditing Questions and Answers

Question 1

In order to provide useful information for an organization's risk management decisions, which of the following factors is least important to assess?

Options:

A.

The underlying causes of the risk.

B.

The impact of the risk on the organization's objectives.

C.

The risk levels of current and future events.

D.

The potential for eliminating risk factors.

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Question 2

An organization invests excess snort-term cash in trading securities. When of the following actions should an internal auditor take to test the valuation of those securities?

Options:

A.

Use the equity method to recalculate the investment carrying value

B.

Confirm the securities held by the broker

C.

Perform a calculation of premium or discount amortization.

D.

Compare the carrying value with current market quotations

Question 3

Which of the following statements about COBIT is not true?

Options:

A.

COBIT helps management understand and manage the risks associated with information technology (IT) processes.

B.

Management needs to determine the cost-benefit ratio of adopting COBIT control objectives.

C.

COBIT control objectives are specific to various IT platforms and help determine minimum controls.

D.

COBIT provides management with the capability to conduct self-assessments against industry best practices.