Exam

This sample question is for CIA exam part IV: Business Management Skills

1. Governments restrict trade in order to:
I. Foster national security.
II. Develop new industries.
III. Protect declining industries.
IV. Increase tax revenues.

a. I and IV only.
b. II and III only.
c. I, II and III only.
d. II, III, and IV only.

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This sample question is for CIA exam part III: Business Analysis & IT

1. All of the following are useful for forecasting the needed level of inventory except:
a. Knowledge of the behavior of business cycles.
b. Internal accounting allocations of costs to different segments of the company.
c. Information about seasonal variations in demand.
d. Econometric modeling.

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This sample question is for CIA exam part II: Audit Engagement

1. Which of the following best describes an auditor’s responsibility after noting some indicators of fraud?
a. Expand activities to determine whether an investigation is warranted.
b. Report the possibility of fraud to senior management and ask how to proceed.
c. Consult with external legal counsel to determine the course of action to be taken.
d. Report the matter to the audit committee and request funding for outside specialists to help investigate the possible fraud

This sample question is for CIA exam part I: Governance, Risk and Control

1. Which of the following actions would be a violation of auditor independence?

a. Continuing on an audit assignment at a division for which the auditor will soon be responsible as the result of a promotion.
b. Reducing the scope of an engagement due to budget restrictions.
c. Participating on a task force which recommends standards of control for a new distribution system.
d. Reviewing a purchasing agent's contract drafts prior to their execution.