IIA-CIA-PART3 ACTUAL TEST ANSWERS, IIA-CIA-PART3 EXAM DUMPS DEMO

IIA-CIA-Part3 Actual Test Answers, IIA-CIA-Part3 Exam Dumps Demo

IIA-CIA-Part3 Actual Test Answers, IIA-CIA-Part3 Exam Dumps Demo

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IIA-CIA-Part3 certification exam, also known as Business Knowledge for Internal Auditing, is a highly sought-after certification among internal auditors. Business Knowledge for Internal Auditing certification exam is designed to test the candidate's knowledge of business concepts and their application in an internal audit context. IIA-CIA-Part3 Exam is conducted by the Institute of Internal Auditors (IIA) and serves as an internationally recognized validation of an internal auditor's expertise in business knowledge.

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IIA Business Knowledge for Internal Auditing Sample Questions (Q402-Q407):

NEW QUESTION # 402
An organization upgraded to a new accounting software. Which of the following activities should be performed by the IT software vendor immediately following the upgrade?

  • A. Services to manage and maintain the IT Infrastructure.
  • B. Software testing and validation
  • C. Backup and restoration.
  • D. Market analysis lo identify trends

Answer: C


NEW QUESTION # 403
Because of the large number of factors that could affect the demand for its new product, interactions among these factors, and the probabilities associated with different values of these factors, the marketing department would like to develop a computerized model for projecting demand for this product. By using a random-number procedure to generate values for the different factors, it will be able to estimate the distribution of demand for this new product. This method of estimating the distribution of demand for the new product is called

  • A. Linear programming.
  • B. Differential analysis.
  • C. Monte Carlo simulation.
  • D. Correlation analysis.

Answer: C

Explanation:
Simulation is a technique in which a probabilistic process is first modeled. The inputs to the model are then varied a large number of times to estimate the distribution of possible outcomes from the model of the variable of interest. Simulations that use a random-number procedure to generate values for the inputs are referred to as Monte Carlo simulations.


NEW QUESTION # 404
A manufacturing company is attempting to implement a just-in-time JIT) purchase policy
system by negotiating with its primary suppliers to accept long-term purchase orders which result in more frequent deliveries of smaller quantities of raw materials. If the JIT purchase policy is successful in reducing the total inventory costs of the manufacturing company, which of the following combinations of cost changes would be most likely to occur?

  • A. Option D
  • B. Option C
  • C. Option A
  • D. Option E
  • E. Option F
  • F. Option C

Answer: A

Explanation:
The objective of a JIT system is to reduce carrying costs by eliminating inventories and increasing the deliveries made by suppliers. Ideally, shipments are received just in time to be incorporated into the manufacturing process. This system increases the risk of stockout costs because the inventory buffer is reduced or eliminated. The diagram presented represents the economic circler quantity ECQ) model.


NEW QUESTION # 405
A shortest-route algorithm is used in network models to:

  • A. Identify bottlenecks in a network and hence identify the longest path.
  • B. Identify the set of connecting branches having the shortest combined length.
  • C. Minimize total travel time from one site to each of the other sites in a transportation system.
  • D. Maximize throughput in networks with distinct entry source node) and exit sink node) points.

Answer: C

Explanation:
Network models are used to solve managerial problems pertaining to project scheduling, information systems design, and transportation systems design. Networks consisting of nodes and arcs may be created to represent in graphic form problems related to transportation, assignment, and transshipment. The shortest-route, minimal spanning tree, and maximal flow problems are other applications of network models. A shortest-route algorithm minimizes total travel time from one site to each of the other sites in a transportation system.


NEW QUESTION # 406
An organization was forced to stop production unexpectedly, as raw materials could not be delivered due to a military conflict in the region. Which of the following plans have most likely failed to support the organization?

  • A. Standing plans.
  • B. Backup plans.
  • C. Contingency plans.
  • D. Just-in-time delivery plans.

Answer: C


NEW QUESTION # 407
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