Pass IIA-CIA-Part3-3P Exam Guide

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

Question 57

Maintenance cost at a hospital was observed to increase as activity level increased. The following data was gathered:

Activity Level -

Maintenance Cost

Month

Patient Days

January

5,600

$7,900

February

7,100

$8,500

March

5,000

$7,400

April

6,500

$8,200

May

7,300

$9,100

June

8,000

$9,800

If the cost of maintenance is expressed in an equation, what is the independent variable for this data?

Options:

Fixed cost.

Variable cost.

Total maintenance cost.

Patient days.

Question 58

Which of the following standards would be most useful in evaluating the performance of a customer-service group?

Options:

The average time per customer inquiry should be kept to a minimum.

Customer complaints should be processed promptly.

Employees should maintain a positive attitude when dealing with customers.

All customer inquiries should be answered within seven days of receipt.

Question 59

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

Options:

The underlying causes of the risk.

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

The risk levels of current and future events.

The potential for eliminating risk factors.

Question 60

Which of the following costs would be incurred in an inventory stockout?

Options:

Lost sales, lost customers, and backorder.

Lost sales, safety stock, and backorder.

Lost customers, safety stock, and backorder.

Lost sales, lost customers, and safety stock.

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

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