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IIA-CIA-Part3 Questions and Answers

Question # 1

Which of the following forms of compensation best indicates that an organizationâ€™s cost-saving objectives have been targeted?

Gain sharing

Commission

Profit sharing

Pension

Question # 2

Which of the following is classified as a product cost using the variable costing method?

Direct labor costs.

Insurance on a factory.

Manufacturing supplies.

Packaging and shipping costs.

1 and 2

1 and 3

2 and 4

3 and 4

Question # 3

A large retail customer made an offer to buy 10,000 units at a special price of $7 per unit. The manufacturer usually sells each unit for $10. Variable manufacturing costs are $5 per unit and fixed manufacturing costs are $3 per unit. For the manufacturer to accept the offer, which of the following assumptions needs to be true?

Fixed and variable manufacturing costs are less than the special offer selling price

The manufacturer can fulfill the order without expanding the capacities of the production facilities

Costs related to accepting this offer can be absorbed through the sale of other products

The manufacturerâ€™s production facilities are currently operating at full capacity

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IIA IIA-CIA-Part3 Exam Dumps FAQs

What is IIA IIA-CIA-Part3 exam?

The IIA IIA-CIA-Part3 exam, also known as the Certified Internal Auditor (CIA) Part 3 exam, is a globally recognized certification exam that tests a candidates knowledge and skills in internal auditing. It focuses on business acumen, information security, information technology, and financial management.

What is the format of the IIA IIA-CIA-Part3 exam?

The IIA IIA-CIA-Part3 exam consists of 100 multiple-choice questions that must be completed within 2 hours (120 minutes). The exam is designed to assess the candidates proficiency in various domains critical to internal auditing.

What is the IIA IIA-CIA-Part3 exam focused on?

The IIA-CIA-Part3 exam covers four main domains: Business Acumen (35%), Information Security (25%), Information Technology (20%), and Financial Management (20%). These domains are essential for internal auditors to effectively perform their duties.

What is the worth of taking the CIA IIA-CIA-Part3 exam?

Earning the CIA Part 3 certification enhances your credibility and demonstrates your expertise in internal auditing. It opens up career advancement opportunities and is highly valued by employers worldwide.

What are the prerequisites for the CIA IIA-CIA-Part3 exam?

Candidates must have a bachelors degree or equivalent, along with two years of internal auditing experience or its equivalent. Additionally, they must have passed the CIA Part 1 and Part 2 exams.

What is the passing score for the IIA IIA-CIA-Part3 exam?

The passing score for the IIA IIA-CIA-Part3 exam is 600 out of 750.

What is the difference between IIA-CIA-Part2 and IIA-CIA-Part3 certification exams?

While both exams are part of the CIA certification, IIA-CIA-Part2 Exam focuses on internal audit practice, including managing the internal audit function and conducting engagements. IIA-CIA-Part3 Exam, on the other hand, emphasizes business knowledge for internal auditing, covering broader topics like business acumen and information security.

How to prepare for CIA IIA-CIA-Part3 exam?

To prepare for the IIA-CIA-Part3 exam, it is essential to create a structured study plan, focus on the key exam topics, and utilize high-quality study materials such as the IIA-CIA-Part3 PDFs, practice exams, and study guides offered by Valid4sure.

Can I take a practice test for the IIA IIA-CIA-Part3 exam?

Yes, Valid4sure offers practice tests for the IIA-CIA-Part3 exam. Our IIA-CIA-Part3 practice tests simulate the real exam environment, helping candidates assess their preparedness and improve their confidence before taking the actual exam.