Financial The Certified Internal Auditor-Part3 New(CIA-III) CIA-III-2012 Exam Questions in PDF

Free Financial CIA-III-2012 Dumps Questions (page: 23)

The following information and diagram apply to a project:


The earliest completion time for the project is:

  1. 11 days.
  2. 14 days.
  3. 15 days.
  4. 20 days.

Answer(s): C

Explanation:

The two paths through the network are A-C-E (5+4 + 6= 15days) and B-D-E (3 + 2 + 6 = 11 days). The critical or longest path is thus A-C-E. Hence, the earliest completion time is 15 days.



Which of the following terms is not used in project management?

  1. Dummy activity.
  2. Latest finish.
  3. Optimistic time.
  4. Lumpy demand.

Answer(s): D

Explanation:

Project management concerns managing teams assigned to special projects. Lumpy demand refers to periodic demand for a product or service that increases in large, lumpy increments.



Activity scheduling information for the installation of a new computer system is given below.


For this project, the critical path is:

  1. A-C
  2. B-E
  3. A-D-E
  4. B-D-C

Answer(s): C

Explanation:

The critical path is the longest path because it defines the minimum duration of the project. A-D-E (4 + 6 + 5 = 15 days) is the critical path.



In a critical path analysis, if slack time in an activity exists, the activity:

  1. Is not essential to the overall project.
  2. Is a backup activity to replace a main activity should it fail.
  3. Could be delayed without delaying the overall project.
  4. Involves essentially no time to complete.

Answer(s): C

Explanation:

Slack is the free time associated with activities not on the critical path. Slack represents unused resources that can be diverted to the critical path.



Various tools are employed to control large scale projects. They include all of the following except:

  1. PERT.
  2. CPM.
  3. Statistical process control.
  4. Gantt charts.

Answer(s): C

Explanation:

Statistical process (quality) control is not used to control large scale projects. Statistical quality control is a method of determining whether the shipment or production run of units lies within acceptable limits. It is also used to determine whether production processes are out of control.



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