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IIA-CIA-Part3 (Business Knowledge for Internal Auditing) Certification Exam is an essential certification for internal auditors looking to advance their careers. Business Knowledge for Internal Auditing certification exam is offered by the Institute of Internal Auditors (IIA), which is a globally recognized organization dedicated to promoting and advancing the internal audit profession.
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IIA IIA-CIA-Part3 Exam Syllabus Topics:
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IIA Business Knowledge for Internal Auditing Sample Questions (Q28-Q33):
NEW QUESTION # 28
The technique used in analyzing the problem is best described as:
Answer: A
Explanation:
Simulation is a technique for experimenting with logical/mathematical models using a computer. Despite the power of mathematics, many problems cannot be solved by known analytical methods because of the behavior of the variables and the complexity of their interactions. However, the performance of a quantitative model under uncertainty may be investigated by randomly selecting values for each of the variables in the model (based on the probability distribution of each variable) and then calculating the value of the solution. If this process is performed a large number of times, the distribution of results from the model will be obtained.
NEW QUESTION # 29
Two countries have flexible e change rate systems and an active trading relationship. If incomes <List A> in country 1, everything else being equal, then the currency of country 1 will tend to <List B> relative to the currency of country 2.
Answer: B
Explanation:
If incomes in country 1 rise, consumers in country 1 will increase their imports from country
2. The resulting increase in the supply of currency 1 will result in a tendency for it to depreciate relative to the currency of country 2.
NEW QUESTION # 30
The sales manager for a builder of custom yachts developed the following conditional table for annual production and sales:
According to the table, how many yachts should be built?
Answer: A
Explanation:
To achieve the maximum expected profit. 30 yachts should be built. For each level of production, multiply the probability of demand by the expected profit. The computation for the maximum is: 0.1 (-US $10) + 0.2($10) + 0.5($30) + 0.2($30) = US $22.
NEW QUESTION # 31
Which of the following is a role of the board of directors in the governance process?
Answer: A
NEW QUESTION # 32
The total exports of Vietnam are US $20,000,000 worth of rice to Greece, and the total exports of Greece are US $18, 11,111100 worth of olives to Vietnam. The terms of trade are:
Answer: B
Explanation:
A country's terms of trade are calculated by dividing its export price index by its import price index and multiplying by 100. Greece's total exports US $18,000,000) divided by its total imports US $20,000,000) equals 0.9 x 100 = 90. Vietnam's total exports US $20,000,000) divided by its total imports US $18,000,000) equals 1.11 x 100 = 111.
NEW QUESTION # 33
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