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To prepare for the IIA-CIA-Part3-3P exam, candidates should review the exam content outline provided by the Institute of Internal Auditors (IIA), which outlines the topics covered on the exam. Candidates should also review relevant business and accounting principles, as well as internal audit practices and standards. Many candidates find it helpful to enroll in a CIA exam review course or use study materials provided by the IIA to prepare for the exam. With proper preparation and study, candidates can successfully pass the IIA-CIA-Part3-3P exam and move one step closer to earning the CIA designation.

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The IIA-CIA-Part3-3P exam is essential for individuals seeking to attain the Certified Internal Auditor certification. This exam tests the candidate's understanding of business acumen, risk management, governance and business ethics, and financial management, among others. It is a rigorous exam that requires extensive study, preparation, and practice, but it is an essential step towards a rewarding career in the internal audit profession.

IIA CIA Exam Part Three: Business Knowledge for Internal Auditing Sample Questions (Q365-Q370):

NEW QUESTION # 365
Which of the following best describes a market signal?

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

Answer: C

NEW QUESTION # 366
Technological uncertainty, subsidy, and spin-offs are usually characteristics of:

A. Mature industries.B. Emerging industries.C. Declining industries.D. Fragmented industries.

Answer: B

NEW QUESTION # 367
With regard to project management when of the following statements about prefect crashing is true?

A. It involves a revaluation of protect requirements and/or scope.B. It leads to an increase in risk and often results in reworkC. It is an optimization technique where activities are performed in parallel rather than sequentiallyD. It is a compression technique in which resources are added to the protect

Answer: D

NEW QUESTION # 368
A chief audit executive (CAE) was asked to participate in the selection of an external auditor. Which of the following would not be a typical responsibility for the CAE?

A. Develop appropriate performance metrics.B. Recommend criteria to be used in the selection process.C. Evaluate the proposed external auditor fee.D. Monitor the work of the external auditors.

Answer: A

NEW QUESTION # 369
Which of the following is the first step an internal audit activity should undertake when executing a data analytics process?

A. Define the purpose and the anticipated valueB. Conduct a risk assessment regarding the effectiveness of the data analytics process.C. Select data for cleaning and normalization procedures.D. Analyze possible and available sources of raw data

Answer: D

NEW QUESTION # 370
......

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