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IIA-CIA-Part3-3P Exam Questions Tutorials

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

Question 61

Which of the following statements about slack time and milestones are true?

1) Slack time represents the amount of time a task may be delayed without delaying the entire project.

2) A milestone is a moment in time that marks the completion of the project's major deliverables.

3) Slack time allows the project manager to move resources from one task to another to ensure that the project is finished on time.

4) A milestone requires resource allocation and needs time to be completed.

Options:

A.

1 and 4 only

B.

2 and 3 only

C.

1, 2, and 3 only

D.

1, 2, 3, and 4

Question 62

Which of the following corporate social responsibility strategies is likely to be most effective in minimizing confrontations with influential activists and lobbyists?

Options:

A.

Continually evaluate the needs and opinions of all stakeholder groups.

B.

Ensure strict compliance with applicable laws and regulations to avoid incidents.

C.

Maintain a comprehensive publicity campaign that highlights the organization's efforts.

D.

Increase goodwill through philanthropic activities among stakeholder communities.

Question 63

Which of the following factors is considered a disadvantage of vertical integration?

Options:

A.

It may reduce the flexibility to change partners.

B.

It may not reduce the bargaining power of suppliers.

C.

It may limit the organization's ability to differentiate the product.

D.

It may lead to limited control of proprietary knowledge.

Question 64

Which of the following statements regarding organizational governance is not correct?

Options:

A.

An effective internal audit function is one of the four cornerstones of good governance.

B.

Those performing governance activities are accountable to the customer.

C.

Accountability is one of the key elements of organizational governance.

D.

Governance principles and the need for an internal audit function are applicable to governmental and not-for-profit activities.