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IIA IIA-CIA-Part3 Valid Dumps, IIA-CIA-Part3 Latest Test Practice

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IIA-CIA-Part3 certification exam is an important milestone for internal auditors seeking to demonstrate their knowledge and skills in the area of business knowledge. IIA-CIA-Part3 Exam covers a broad range of topics related to business and requires a deep understanding of how businesses operate and how the internal audit function can add value. Achieving the certification demonstrates a commitment to professional development and can lead to increased career opportunities and higher salaries.

IIA Business Knowledge for Internal Auditing Sample Questions (Q21-Q26):

NEW QUESTION # 21
A customer, operating in isolated foreign market, has approached the head salesperson for Product Line I and offered to purchase 4.000 units of a special-order product over the next 12 months_ This product would be sold in the same as Product Line 1's other products except that the customer is hoping for a price break. Product Line 1's cost to purchase this product cost of sales) would be US $14.70. Product Line 1 has excess capacity, meaning that the rate or amount of the remaining operating costs would not change as a consequence of the purchase and sale of this special- order product. The minimum selling price for this special-order product would be:

A. US $15.00
B. US $17.30
C. US $27.50
D. US $30.20

Answer: A

Explanation:
Product Line I needs to cover its variable out-of-pocket costs as a minimum on this special-order product: therefore, any soiling pr1Sr ester than the variable cost will contribute towards profits. Thus, the minimum selling price of the special-order product is the variable cost divided by 1 minus the commission rate, or US$15 1$14.70 / 1.0 - 0.2)].

NEW QUESTION # 22
The primary reason for social regulation is that:

A. Social regulation is more desirable.
B. Consumer and environmental groups are politically powerful.
C. The free market provides minimal safety and environmental protection.
D. Social al benefits from such regulations always exceed the costs.

Answer: C

Explanation:
Social regulation concerns quality of life issues, e.g., workplace and product safety, environmental degradation, and fair employment practices. The abuses addressed are those that are difficult for market forces to remedy. For example, consumers may purchase products on the basis of price and quality but without regard to the environmental impact of their production, and unsafe working conditions may be tolerated by individuals who have few opportunities for other employment.

NEW QUESTION # 23
A corporation has received proposals from several banks to establish a lockbox system to speed up receipts. The corporation receives an average of 700 checks per day averaging US $1,800 each, and its cost of short-term funds is 7% per year. Assuming that all proposals will produce equivalent processing results and using a 360-day year, which one of the following proposals is optimal for the corporation?

A. A fee of 0.03% of the amount collected.
B. A US $0_50 fee per check.
C. A flat fee of US $125,000 per year.
D. A compensating balance of US $1,750,000.

Answer: D

Explanation:
Multiplying 700 checks by 360 days results in a total of US $252,000 checks per year. Accordingly, at a US $0.50 fee per check, total annual cost is US $126,000 $.50 x $252,000), which is less desirable than the US $125,000 flat fee. Given that the annual collections equal US $453,600,000 $1,800 x 700 x 360), a fee of 0.03% of the amount collected is also less desirable because the annual fee would be US $136,080 .03% x $453,600,000). The br:.3 option is therefore to maintain a compensating balance of US $1,750.000 when the cost of funds is 7%, resulting in a total cost of US $122,500 .07 x $1,750,000).

NEW QUESTION # 24
A measure that describes the risk of an investment project relative to other investments in general is the:

A. Standard deviation.
B. Coefficient of variation.
C. Beta coefficient
D. Expected return

Answer: C

Explanation:
The required rate of return on equity capital in the Capital Asset Pricing Model is the risk-free rate, plus the product of the market risk premium times the beta coefficient. The market risk premium is the amount above the risk-free rate that will induce investment in the market The beta coefficient of an individual share is the correlation between the volatility price variation) of the stock market and that of the price of the individual share. For example. if an individual share goes up 15% and the market only 10%. beta is 1.5.

NEW QUESTION # 25
Which of the following is a key characteristic of a zero-based budget?

A. A zero-based budget provides estimates of costs that would be incurred under different levels of activity.
B. A zero-based budget maintains focus on the budgeting process.
C. A zero-based budget is prepared each year and requires each item of expenditure to be justified.
D. A zero-based budget uses input from lower-level and middle-level managers to formulate budget plans.

Answer: C

NEW QUESTION # 26
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Free PDF 2025 High Hit-Rate IIA-CIA-Part3: Reliable Business Knowledge for Internal Auditing Exam Price

IIA IIA-CIA-Part3 Valid Dumps, IIA-CIA-Part3 Latest Test Practice

IIA Business Knowledge for Internal Auditing Sample Questions (Q21-Q26):

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