CIA-I Certification Exam Questions with AI Explanations

QUESTION: 326

Many questionnaires are made up of a series of different questions that use the same response categories (for example strongly agree, agree, neither, disagree, strongly disagree). Some designs will have different groups of respondents answer alternate versions of the questionnaire that present the questions in different orders and reverse the orientation of the endpoints of the scale (for example agree on the right and disagree on the left). The purpose of such questionnaire variations is to

Eliminate intentional misrepresentations.
Reduce the effects of pattern response tendencies.
Test whether respondents are reading the questionnaire.
Make it possible to get information about more than one population parameter using the same questions.

Answer(s): B

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QUESTION: 327

A limitation of using ratio analysis in an audit engagement is that it

Often uses financial information provided by management which has not been reviewed for reliability and validity.
Is an expensive method of testing.
Requires computer software in order to develop meaningful interpretations of data.
Is useful only when comparisons can be made across other industries.

Answer(s): A

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QUESTION: 328

If cost estimates in an economic order quantity (EOQ) model are varied to determine how much the changes affect the optimal EOQ, such analysis would be called a

Forecasting model.
Sensitivity analysis.
Critical path analysis.
Decision analysis.

Answer(s): B

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QUESTION: 329

A company owns a machine that will produce 100 light switches in four hours. Due to increased demand, a second machine capable of producing 100 light switches in three hours has been added. Approximately how many hours will it take to produce 100 light switches using both machines working together?

7.0
3.5
1.7
0.58

Answer(s): C

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QUESTION: 330

Which of the following are reasons to involve employees in the control self assessment process?

I). Employees become more motivated to do their jobs correctly.
II). Employees are objective about their jobs.
III). Employees can provide an independent assessment of internal controls.
IV). Employees provide management with valuable information.

I and II only.
I and IV only.
II and III only.
III and IV only.

Answer(s): B

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QUESTION: 326

QUESTION: 327

QUESTION: 328

QUESTION: 329

QUESTION: 330