CIA-I Certification Exam Questions with AI Explanations

QUESTION: 146

The percentage of orders that are rush orders and the percentage of returns to total orders are examples of which of the following types of control activities?

Quality control monitoring.
Direct functional management.
Benchmarking.
Performance indicators.

Answer(s): D

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QUESTION: 147

The best reason for separating the cash-receiving function from the related record- keeping function is to

Segregate cash payments from cash receipts.
Provide accountability for cash received.
Minimize misappropriations in cash receipts.
Improve physical security over the cash-receiving function.

Answer(s): C

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QUESTION: 148

Which of the following would be the least effective in preventing purchasing agents from taking kickbacks or gifts from vendors in exchange for favorable contracts?

A specific corporate policy prohibiting the acceptance of anything of value from a vendor.
A corporate code of ethics prohibiting any activity that might impair objectivity.
A requirement for purchasing agents to develop a company profile of each new vendor before it is added to the authorized vendor list.
The establishment of long-term contracts with major vendors, with the contract terms approved by senior management.

Answer(s): C

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Which of the following lists the audit activities in the order in which they would generally be completed during a preliminary survey?

I). Write detailed audit procedures.
II). Identify client objectives, goals, and standards.
III). Identify risks and controls intended to prevent associated losses.
IV). Determine relevant engagement objectives.

II, I, IV, III.
II, III, IV, I.
III, IV, II, I.
II, IV, I, III.

Answer(s): B

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QUESTION: 150

An audit of the quality control department is being planned. Which of the following would least likely be used in the preparation of a preliminary survey questionnaire?

An analysis of quality control documents.
The permanent audit file.
The prior audit report.
Management's charter for the quality control department.

Answer(s): A

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Financial Certified Internal Auditor (CIA) CIA-I Exam Questions in PDF

Free Financial CIA-I Dumps Questions (page: 30)

QUESTION: 146

QUESTION: 147

QUESTION: 148

QUESTION: 149

QUESTION: 150