- (Exam Topic 2)
Which of the following is the first step an internal audit activity should undertake when executing a data analytics process'?

1. A. Conduct a risk assessment regarding the effectiveness of the data analytics process.
2. B. Analyze possible and available sources of raw data
3. C. Define the purpose and the anticipated value
4. D. Select data for cleaning and normalization procedures.

Correct Answer: B

- (Exam Topic 1)
Which of the following statements is true regarding the relationship between an individual’s average tax rate and marginal tax rate?

1. A. In a regressive personal tax system, an individual's marginal tax rate is normally greater than his average tax rate.
2. B. In a regressive personal tax system, an individual's marginal tax rate is normally equal to his average tax rate.
3. C. In a progressive personal tax system, an individual's marginal tax rate is normally equal to his average tax rate.
4. D. In a progressive personal tax system, an individual's marginal tax rate is normally greater than his average tax rate.

Correct Answer: D

- (Exam Topic 1)
When granting third parties temporary access to an entity's computer systems, which of the following is the most effective control?

1. A. Access is approved by the supervising manager.
2. B. User accounts specify expiration dates and are based on services provided.
3. C. Administrator access is provided for a limited period.
4. D. User accounts are deleted when the work is completed.

Correct Answer: B

- (Exam Topic 1)
Which of the following is not a method for implementing a new application system?

1. A. Direct cutover.
2. B. Parallel.
3. C. Pilot.
4. D. Test.

Correct Answer: D

- (Exam Topic 2)
Which of the following statements is true regarding cost-volume-profit analysis?

1. A. Contribution margin is the amount remaining from sales revenue after fixed expenses have been deducted.
2. B. Breakeven point is the amount of units sold to cover variable costs.
3. C. Breakeven occurs when the contribution margin covers fixed costs
4. D. Following breakeven, net operating income will increase by the excess of fixed costs less the variable costs per units sold

Correct Answer: C