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IIA CIA Part 2 Exam: How To Prepare?
Prepare With Confidence For IIA CIA Part 2 Exam
Do you know what the IIA CIA Part 2 Exam is all about?
The IIA CIA Part 2 is the second part of the International Institute of Aviation and Communication (IIAC) certification test. This test is given every year to aviation pilots and flight engineers from around the world to ensure that they are qualified enough to teach international students how to fly in different countries.
For many people, studying for the IIA CIA Part 2 is very frustrating because the test consists of questions that are very difficult. So you end up spending a lot of time doing things that aren't going to help you pass the exam.
In this article, I'm going to show you a simple way to prepare for the IIA CIA Part 2 Exam and also how to pass it with flying colors. I will show you how to focus on the right areas of study and also what not to do. So if you want to learn more about the IIA CIA Part 2 Exam, then read on. IIA CIA Part 2 exam dumps will help you pass the exam easily.
What format is the IIA CIA Part 2 Exam?
Time Duration: 120 mins
Number of Questions: 100 questions
Languages: English
Format : multiple-choice
The passing score: 70%
NEW QUESTION 62
According to the International Professional Practices Framework, which of the following is not an objective of the exit conference?
- A. Resolve disagreements.
- B. Receive client feedback and clarification.
- C. Plan future engagements.
- D. Review audit recommendations.
Answer: C
Explanation:
Section: Volume D
NEW QUESTION 63
Which of the following will be an appropriate course of action when an auditor disagrees with a client about a well-documented audit finding?
- A. Include both the audit finding and the client's position in the audit report.
- B. Defer reporting the item and plan to perform more detailed work during the next audit.
- C. Change the finding so that it is acceptable to the client.
- D. Address the issue with senior management and the board for resolution prior to issuing the final report.
Answer: A
NEW QUESTION 64
Which of the following would provide the greatest assurance of the accuracy of a computer program's computation of freight charges for catalog sales?
- A. Use difference estimation, selecting transactions from invoices which should have freight charges added to them.
- B. Use discovery sampling, selecting transactions from invoices which should have freight charges added to them.
- C. Use either test data or parallel simulation to test the computer application.
- D. Use generalized audit software to select a monetary-unit sample of invoices that have been billed to customers.
Answer: C
NEW QUESTION 65
Risk assessments can vary in format, but generally include:
1.A description of identified risks.
2.Tests of audit controls.
3.A system of rating risks.
4.Sample size identification.
- A. 1 and 2 only
- B. 1 and 3 only
- C. 2, 3, and 4 only
- D. 1, 3, and 4 only
Answer: B
NEW QUESTION 66
An internal auditor is reviewing purchases made through the organization's corporate credit card program.
Which of the following statements best describes a root cause of a deficiency?
- A. A control to detect split purchases has not been activated in the credit card system.
- B. Sample testing found 10% non-compliance with the organization's business travel policy.
- C. Company policy limits card use to $500 per transaction.
- D. A personal computer was purchased from a non-approved vendor.
Answer: A
NEW QUESTION 67
Controls are implemented to:
- A. Mitigate risk and eliminate the potential for loss.
- B. Mitigate risk and reduce the potential for loss.
- C. Eliminate risk and reduce the potential for loss.
- D. Eliminate risk and eliminate potential for loss.
Answer: B
NEW QUESTION 68
If management expects 100 percent compliance with a procedure, which of the following sampling approaches would be most appropriate?
- A. Variables sampling.
- B. Attributes sampling.
- C. Discovery sampling.
- D. Targeted sampling.
Answer: C
Explanation:
Section: Volume A
NEW QUESTION 69
Which of the following are key characteristics of enterprise risk management?
1. It considers risk in the formulation of strategy.
2. It applies risk management in some units of an entity.
3. It takes a portfolio view of risks throughout the enterprise.
4. It restricts the organization's ability to seize opportunities inherent in future events.
- A. 1 and 3 only
- B. 1 and 4 only
- C. 2 and 3 only
- D. 2 and 4 only
Answer: A
Explanation:
Section: Volume D
NEW QUESTION 70
Which of the following reasonably represents best practices regarding what should be the level of internal audit resource investment in monitoring and following up on engagement outcomes?
- A. Resources should be allocated to this without conditions as long as doing so meets the expectations of management and the judgment of the chief audit executive.
- B. No resources should be exclusively deployed for that at all rather it should be planned as part of future engagements in the same area
- C. Resources should only be provided towards this if doing so does not result in depletion of resources for new engagements planned in the current period
- D. Limited resources should be employed since the actual engagement is already completed and the onus of corrective actions rests with management
Answer: A
NEW QUESTION 71
An auditor is performing a review of a complex process to identify opportunities to increase efficiency. What is the most practical way to document the process to identify areas of inefficiency?
- A. Develop a PERT (program evaluation and review technique) diagram.
- B. Create a decision tree.
- C. Flowchart the process.
- D. Write a description of the process activities in sequential order.
Answer: C
NEW QUESTION 72
When setting the scope for the identification and assessment of key risks and controls in a process, which of the following would be the least appropriate approach?
- A. Develop the scope of the audit based on a bottom-up perspective to ensure that all business objectives are considered.
- B. Ensure the audit includes an assessment of manual and automated controls to determine whether business risks are effectively managed.
- C. Specify that the auditors need to assess only key controls, but may include an assessment of non-key controls if there is value to the business in providing such assurance.
- D. Develop the scope of the audit to include controls that are necessary to manage risk associated with a critical business objective.
Answer: A
NEW QUESTION 73
In evaluating the validity of different types of audit evidence, which of the following conclusions is not correct?
- A. Internally created documentary evidence is considered less valid than externally created documentary evidence.
- B. The validity of documentary evidence is independent of the effectiveness of the control system in which it was created.
- C. The validity of confirmations varies directly with the independence of the party receiving the confirmation.
- D. Recomputation, though highly valid, is limited in usefulness due to its limited scope.
Answer: B
NEW QUESTION 74
New environmental regulations require the board to certify that the organization's reported pollutant emissions data is accurate. The chief audit executive (CAE) is planning an audit to provide assurance over the organization's compliance with the environmental regulations. Which of the following groups or individuals is most important for the CAE to consult to determine the scope of the audit?
- A. The organization's insurance department.
- B. The audit committee of the board.
- C. The environmental, health, and safety manager.
- D. The organization's external environmental lawyers.
Answer: C
NEW QUESTION 75
Which of the following is an appropriate role for the internal audit activity with regard to the organization's risk management program?
- A. Attain an adequate understanding of the organization's key risk mitigation strategies.
- B. Identify and manage risks in line with the organization's risk appetite.
- C. Identify and ensure that appropriate controls exist to mitigate risks.
- D. Ensure that a proper and effective risk management process exists.
Answer: A
NEW QUESTION 76
An auditor receives anonymous information that fraud is occurring in the operation being audited, but no details are given as to the type of fraud or the individuals involved. There are several areas in which fraud could occur. The auditor should:
- A. Apply analytical procedures to areas that might be impacted by possible fraudulent activities.
- B. Interview employees to identify areas where the fraud could be occurring.
- C. Identify the area that has the greatest volume of transactions and design a sampling plan for substantive testing.
- D. Plan detailed tests of the areas that have the highest dollar amount of transactions.
Answer: A
NEW QUESTION 77
Which of the following would be the least desirable criteria against which to judge current operations of an organization's treasury function?
- A. The operations of the treasury function as documented during the last audit engagement.
- B. Finance textbook illustrations of generally accepted good treasury function practices.
- C. Codification of best practices of the treasury function in relevant industries.
- D. Company policies and procedures delegating authority and assigning responsibilities.
Answer: A
Explanation:
Section: Volume C
NEW QUESTION 78
Which of the following is used to identify and prioritize critical business applications to determine those that must be restored and the order of restoration in the event that a disaster impairs information systems processing?
- A. System backup analysis.
- B. Risk analysis.
- C. Vendor supply agreement analysis.
- D. Contingent facility contract analysis.
Answer: B
NEW QUESTION 79
The use of standard operating procedure questionnaires in audit fieldwork can be beneficial because.
- A. These questionnaires are more comprehensive than are other types of techniques for gathering data during fieldwork.
- B. Standard operating procedures are essential to the effectiveness and efficiency of operations.
- C. These questionnaires can both identify discrepancies and educate clients.
- D. These questionnaires do not normally require prior clearance with management of the audited area.
Answer: C
Explanation:
Section: Volume B
NEW QUESTION 80
An internal auditor recommended that an organization implement computerized controls in its sales system in order to prevent sales representatives from executing contracts in excess of their delegated authority levels. A follow-up review found that the sales system had not been modified, but a process had been implemented to obtain written approval by the vice president of sales for all contracts in excess of $1 million. The chief audit executive (CAE) would be justified in reporting this situation to the organization's board iF.
I.
In the opinion of the CAE, the level of residual risk assumed by senior management is too high.
II.
Testing of compliance with the new process finds that all new contracts in excess of $1 million have been approved by the vice president of sales.
III.
The cost of modifying the sales system to include a preventive control is less than $100,000.
- A. I only
- B. III only
- C. I, II, and III
- D. I and III only
Answer: A
NEW QUESTION 81
The chief audit executive (CAE) manages a large internal audit activity (IAA) reporting functionally to the audit committee and administratively to the chief risk officer. During the CAE's recent unplanned medical leave, several internal audit reports were completed and waiting for CAE approval, however, no formal delegation of authority was in place to anticipate this situation. In order to preserve the independence of the IAA, which of the following would be the most appropriate individual to review and approve these reports during the CAE's absence?
- A. Audit committee chair.
- B. External auditor.
- C. Chief risk officer.
- D. Engagement lead auditor.
Answer: D
NEW QUESTION 82
As part of internal audit's assistance with an annual external audit, the internal auditors are required to do a preliminary analytical review of an bank account balances. This involves verifying the current year end balances as web as comparing the current year end balances with previous year end balances to highlight significant changes. Which of the following is the most reliable source for verification of the current year end bank balances?
- A. Internal bonk statements
- B. Bank confirmations
- C. Bank reconciliations as of the end of the year
- D. Bank account general ledger balancer as of the end of the year
Answer: B
NEW QUESTION 83
According to HA guidance, the chief audit executive is directly responsible for which of the following?
- A. Maintaining a quality assurance program even in the absence of management support
- B. Providing opportunities for all staff auditors to satisfy their professional development requirements
- C. Periodically reviewing and approving the internal audit charier
- D. Establishing the objectives scope and plan for each engagement
Answer: C
NEW QUESTION 84
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What are the requirements to take an IIA CIA Part 2 Exam?
To take the IIA CIA Part 2 Exam, you must:
Apply for and obtain endorsement from your local IIA Institute chapter.
Have a bachelor's degree or greater from an accredited institution OR have three years (36 months) of professional business experience in internal auditing. You can also qualify for one of the IIA certifications if you're a member of a partner association.
Be able to complete the certification application and attest to your eligibility requirements.
Pass the required certification exam(s).
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