[Sep 05, 2022] Pass Certified Internal IIA-CIA-Part1 Exam With 463 Questions
Ultimate Guide to Prepare Free IIA IIA-CIA-Part1 Exam Questions and Answer
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What is IIA-CIA-Part1 Exam
The revised CIA Part 1 exam is well aligned with the IIA's International Specialized Practice Framework (IPPF) and also includes 6 areas that cover the fundamentals of internal accounting; autonomy and neutrality; efficacy and appropriate specialized treatment; quality assurance and renewal programs; governance, threat tracking and even control; and even the threat of fraud. The first part examines the understanding, skills and also the capabilities of the perspectives associated with the International Specifications for Household Accounting Specialized Technique, in particular the characteristic standards (1000, 1100, 1200 and 1300 series), as well as the criteria performance 2100.
Aspects of the IPPF are included such as the purpose of internal auditing and the basics of expert internal auditing technique. The program offers a higher rating with the IIA performance standards. The test covers the distinctions between obtaining and seeking advice from compromises. The review is about the appropriate disclosure of consistency with respect to non-conformance to specifications. The most important area is “Threat Governance, Management and Control”, which represents 35% of the audit. Part of the exam requires candidates to demonstrate a basic understanding of the concepts; another section requires candidates to demonstrate mastery of their knowledge, skills, and abilities.
Duration, language, and format of IIA-CIA-Part1 Exam
- Length of examination: 150 mins
- Language: Arabic, Chinese Simplified, Chinese Traditional, Czech, English, French, German, Hebrew, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, Thai, and Turkish
- Format: Multiple choices, multiple answers
- Passing score: 600
- Number of Questions: 125
NEW QUESTION 47
Which of the following statements regarding segregation of duties is true?
- A. A restrictive segregation-of-duties policy can help improve an organization's communication.
- B. An organizational chart provides an accurate definition of segregation of duties.
- C. When evaluating an organization's policy on segregation of duties, employee competence does not need to be considered.
- D. Policies on segregation of duties in information systems must recognize the difference between logical and physical access to assets.
Answer: D
NEW QUESTION 48
The chief audit executive should periodically report the internal audit activity's purpose, authority, responsibility, and performance, as well as significant risk exposures and control issues, to which of the following?
I. Board of directors.
II. Senior management.
III. Shareholders.
IV. External auditors.
- A. II only
- B. I and II only
- C. I, III, and IV only
- D. I, II, and III only
Answer: B
Explanation:
Section: Volume A
NEW QUESTION 49
Which of the following is a common error made in designing multiple-choice questions in a survey questionnaire?
- A. Unipolar rather than bipolar labels are used for the response categories.
- B. Likert scaling is used instead of semantic differential scaling.
- C. The alternative response categories for the questions are not mutually exclusive.
- D. The question itself uses terms that are very familiar to the respondent.
Answer: C
NEW QUESTION 50
Within the internal audit process, which of the following is not a significant advantage of employing a control model?
- A. It validates the findings and recommendations of the internal audit.
- B. It recognizes the need to evaluate both hard and soft controls.
- C. It assists internal auditors in assessing the achievement of management's objectives.
- D. It provides guidance on identifying control deficiencies for each internal audit engagement.
Answer: A
NEW QUESTION 51
An internal auditor is assigned to conduct an audit of security for a local area network (LAN) in the finance department of the organization. Investment decisions, including the use of hedging strategies and financial derivatives, use data and financial models which run on the LAN. The LAN is also used to download data from the mainframe to assist in decisions. Which of the following should be considered outside the scope of this security audit engagement?
- A. The ability of the LAN application to identify data items at the field or record level and implement user access security at that level.
- B. Interviews with users to determine their assessment of the level of security in the system and the vulnerability of the system to compromise.
- C. The level of security of other LANs in the company which also utilize sensitive data.
- D. Investigation of the physical security over access to the components of the LAN.
Answer: C
Explanation:
Section: Volume A
NEW QUESTION 52
Feedback on engagements from audit clients, annual benchmarking of the internal audit activity's (IAA's) performance against best practice, and analyses of project budgets and audit plan completion are all tools that can best be used by the IAA for which purpose?
- A. Developing control processes.
- B. Completing internal assessments.
- C. Identifying conflicts of interest.
- D. Determining the level of residual risk.
Answer: B
NEW QUESTION 53
The internal audit activity's role in the risk assessment and management processes of an organization is determined by the:
- A. Chief audit executive.
- B. Risk management department.
- C. External auditors.
- D. Board of directors.
Answer: D
NEW QUESTION 54
Which of the following scenarios best illustrates due professional care?
- A. The head of the payroll department being audited is a business partner of the engagement supervisor During the audit the engagement supervisor sought to maintain his objectivity by not participating in fieldwork
- B. While performing a payroll audit an auditor became skeptical about significant payments made to a manager. The auditor sought to determine whether these payments were reasonable through discussion with a manager in a different department in the organization
- C. An auditor assigned to a payroll audit was unable to reperform some complex payroll computations for a small number of employees The sum of these payments was below the materiality thresholds provided so the auditor did not perform further tests
- D. An internal auditor who previously worked in the payroll department within the last year was intentionally excluded by the chief audit executive from the audit team assigned to a payroll audit
Answer: B
NEW QUESTION 55
In selecting an instructional strategy for developing internal audit staff, a chief audit executive should first review the:
- A. Organization's objectives.
- B. Content of potential training courses.
- C. Department's budget constraints.
- D. Internal auditors' personal development needs.
Answer: A
NEW QUESTION 56
The internal audit staff lacks the expertise to perform a specific activity when auditing an organization. Which of the following individuals is not an appropriate choice to perform this task?
- A. An expert within the department being audited.
- B. A consultant from an outside firm.
- C. A researcher affiliated with a college or university.
- D. A specialist from the staff of a government agency.
Answer: A
NEW QUESTION 57
An assurance mapping exercise helps an organization do which of the following?
Provide assurance to stakeholders that risks are managed and reported, and regulatory and legal obligations are met.
Fulfill best practices in the industry.
Identify and address any gaps in the risk management process.
Identify fraud.
- A. 3 and 4.
- B. 2 and 3.
- C. 1 and 4.
- D. 1 and 3.
Answer: D
NEW QUESTION 58
An organization's external auditor has prepared a list of risks and issues and has recommended to senior management that the internal audit activity focus on these items. Senior management has forwarded the list to the chief audit executive (CAE). The CAE should:
- A. Ignore the external auditor's requirements because they are outside of the internal audit activity's planned scope of work.
- B. Incorporate the external auditor's requirements into the internal audit plan.
- C. Consider the issues raised by the external auditor for possible inclusion in the planned scope of work.
- D. Report the risks and issues to the audit committee for possible future attention.
Answer: C
Explanation:
Section: Volume B
NEW QUESTION 59
A manufacturer uses improved linkage between order entry, production, and shipping to reduce raw materials and work-in-process inventory. Which type of fraud will these changes likely reduce?
- A. Payment of fraudulent invoices.
- B. Theft of resources from inventory.
- C. Purchases from a related party.
- D. False reporting of hours worked.
Answer: B
Explanation:
Section: Volume D
NEW QUESTION 60
An organization's chief audit executive (CAE) has been asked to monitor and report on any violations of the organization's code of conduct.
The CAE should:
- A. Participate in an advisory capacity on the committee that adjudicates any violations.
- B. Lead the committee responsible for the oversight of the code.
- C. Review and adjudicate all complaints.
- D. Develop specific procedures to ensure that the code is clearly communicated to all employees.
Answer: A
NEW QUESTION 61
Which of the following actions should the internal audit activity take during an audit engagement when examining the effectiveness of risk management processes?
- A. Evaluate how the organization manages fraud risk
- B. Verify that organizational objectives are aligned with each department's objctives.
- C. Ensure risk responses are aligned with industry standards.
- D. Establish procedures for improving risk management processes.
Answer: A
NEW QUESTION 62
Which of the following are appropriate ways to obtain continuous professional education?
Instructing at a local IIA training event.
Attending internal audit conferences and seminars.
Practicing specialized audit and consulting work.
Participating in research projects in internal auditing.
- A. 1 and 2 only.
---- - B. 3 and 4 only.
- C. 1 and 3 only.
- D. 1, 2, and 4 only.
Answer: D
NEW QUESTION 63
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