IIA-CIA-Part3 Practice Test

IIA-CIA-Part3 Practice Test practice questions, page 17 of 26, with answer review and explanations.

Question 81

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

  1. Lost sales, lost customers, and backorder.
  2. Lost sales, safety stock, and backorder.
  3. Lost customers, safety stock, and backorder.
  4. Lost sales, lost customers, and safety stock.

Question 82

Which of the following methods, if used in conjunction with electronic data interchange (EDI), will improve the organization's cash management program, reduce transaction data input time and errors, and allow the organization to negotiate discounts with EDI vendors based on prompt payment?

  1. Electronic funds transfer.
  2. Knowledge-based systems.
  3. Biometrics.
  4. Standardized graphical user interface.

Question 83

Which of the following are included in ISO 31000 risk principles and guidelines?

  1. Standards, framework, and process.
  2. Standards, assessments, and process.
  3. Principles, framework, and process.
  4. Principles, practices, and process.

Question 84

The audit committee of a global corporation has mandated a change in the organization's business ethics policy. Which of the following approaches describes the best way to accomplish the policy's diffusion worldwide?

  1. Deploy the policy in the corporate headquarters' language, so everyone gets an unfiltered version simultaneously.
  2. Introduce the policy region by region, using any lessons learned to change the subsequent version of the policy for the next area.
  3. Consult with legal and operational management in each affected country to ensure the final version can be implemented globally, following audit committee approval.
  4. Send the board-approved version of the policy to each country's senior leadership, and empower them to tailor the policy to the local language and culture.

Question 85

Which of the following best describes a market signal?

  1. The bargaining power of buyers is forcing a drop in market prices.
  2. There is pressure from the competitor's substitute products.
  3. Strategic analysis by the organization indicates feasibility of expanding to new market niches.
  4. The competitor announces a new warranty program.