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IIA Realistic IIA-CIA-Part3 Exam Questions Answers
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IIA-CIA-Part3 (Business Knowledge for Internal Auditing) Exam is an important certification exam offered by the Institute of Internal Auditors (IIA) for internal auditors seeking to enhance their knowledge and skills in the field of business. IIA-CIA-Part3 Exam is designed to test the candidate's ability to apply business concepts and principles to internal audit activities, and it covers a broad range of business topics, including finance, accounting, economics, marketing, and management.
What are the steps to follow for the registration of the IIA CIA Part 3 Exam
You must first register as an IIA member. Then you can register for the IIA CIA exam. You must provide the following information:
- Payment information: Debit card/credit card / PayPal details
- Personal information: Name, address, email ID and contact number
- Professional information: Designation, industry type, experience etc.
- Exam details: Date, time and location of the exam center
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2025 Valid IIA IIA-CIA-Part3: Business Knowledge for Internal Auditing Exam Questions Answers
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IIA-CIA-Part3 exam covers a wide range of topics related to business knowledge for internal auditing. These topics include business acumen and understanding, financial management, risk management, and strategic management. IIA-CIA-Part3 Exam is designed to test the abilities of individuals to apply their knowledge and skills in real-world scenarios.
IIA Business Knowledge for Internal Auditing Sample Questions (Q80-Q85):
NEW QUESTION # 80
Which of the following is improved by the use of smart devices?
- A. Portability
- B. Version control
- C. Secure authentication
- D. Privacy
Answer: C
Explanation:
Comprehensive and Detailed In-Depth Explanation:
Smart devices often incorporate advanced security features that enhance secure authentication mechanisms.
These features may include biometric sensors (such as fingerprint readers or facial recognition), hardware tokens, and secure enclaves that store authentication credentials. By utilizing these technologies, smart devices provide robust methods to verify user identities, thereby strengthening access controls to sensitive information and systems. While smart devices do offer portability (option C), their primary contribution to security lies in enhancing authentication processes. Version control (option A) pertains to managing changes in software or documents and is not directly impacted by smart devices. Privacy (option B) can be influencedby smart devices, but the direct improvement is in secure authentication, which in turn can support privacy protections.
NEW QUESTION # 81
ABC Manufacturing Company ships merchandise U s $40.000 on consignment to XYZ Stores. ABC pays US $3,000 of freight costs to a transport company, and XYZ pays US $2,000 for local advertising costs that are reimbursable from ABC. By the end of the period the three, fourths of the consigned merchandise has been sold for US $50,000 cash. XYZ notifies ABC of the sales, retains a 10% commission and the paid advertising costs and remits the cash due ABC. Select the journal entry that appropriately records the notification of sale and the receipt of cash by ABC.
- A. Cash US $40,000 Revenue from consignment sales US $50,000
- B. Cash US $40,000 Advertising expense 2,000 Commission expense 5,000 Freight expense 3,000 Revenue from consignment sales US $50,000
- C. Cash US $40,000 Commission expense 5,000 Revenue from consignment sales US $50,000
- D. Cash US $43,000 Advertising expense 2,000 Commission expense 5,000 Revenue from consignment sales US $50,000
Answer: D
Explanation:
ABC debits the cash received US $43,000 [$50,000 sales - $2,000 advertising -$50,000 $10) sales commission]. The advertising and commission expenses are debited for $2,000 and $5,000, respectively. Finally, US $50,000 of gross revenue is credited.
NEW QUESTION # 82
A competitive marketing strategy in which a firm specializes in serving customers overlooked or ignored by major competitors is called a:
- A. Market challenger strategy.
- B. I' Market follower strategy.
- C. Market niche strategy.
- D. Market leader strategy.
Answer: C
Explanation:
Specializing in serving customers overlooked or ignored by major competitors is a market niche strategy. This strategy specializes along market, customer, product, or marketing mix lines.
NEW QUESTION # 83
Which of the following scenarios best illustrates a spear phishing attack?
- A. A person posing as a representative of the company's IT help desk called several employees and played a generic prerecorded message requesting password data.
- B. A person received a personalized email regarding a golf membership renewal, and he click a hyperlink to enter his credit card data into a fake website
- C. Many users of a social network service received fake notifications of e unique opportunity to invest in a new product.
- D. Numerous and consistent attacks on the company's website caused the server to crash and service was disrupted.
Answer: B
Explanation:
* Understanding Spear Phishing Attacks:
* Spear phishing is a targeted cyberattack where attackers send personalized emails to trick individuals into providing sensitive data (e.g., passwords, financial information).
* Unlike regular phishing, which casts a wide net, spear phishing is highly customized and often appears to come from a trusted source.
* Why Option C Is Correct?
* The scenario describes a highly personalized email (related to a golf membership) that tricks the recipient into clicking a malicious hyperlink and entering sensitive data.
* This matches the definition of a spear phishing attack, where an attacker tailors a scam specifically for an individual.
* IIA GTAG 16 - Data Analytics and ISO 27001 emphasize the need for security awareness training to mitigate such threats.
* Why Other Options Are Incorrect?
* Option A (Website attack causing a server crash):
* This describes a Denial-of-Service (DoS) attack, not spear phishing.
* Option B (Generic recorded message requesting password data):
* This is vishing (voice phishing), not spear phishing. Spear phishing relies on personalized emails.
* Option D (Fake social media investment opportunity):
* This describes mass phishing, which targets multiple users, unlike spear phishing, which is highly targeted.
* Spear phishing is a targeted attack that uses personal details to deceive individuals, making option C the best choice.
* IIA GTAG 16 and ISO 27001 emphasize cybersecurity awareness to prevent such attacks.
Final Justification:IIA References:
* IIA GTAG 16 - Data Analytics in Cybersecurity Audits
* ISO 27001 - Cybersecurity Best Practices
* NIST SP 800-61 - Incident Response Guidelines for Phishing Attacks
NEW QUESTION # 84
Which of the following physical access control is most likely to be based on ''something you have" concept?
- A. A P3M code reader
- B. A card-key scanner
- C. A fingerprint scanner
- D. A retina characteristics reader
Answer: B
NEW QUESTION # 85
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