- (Exam Topic 1)
Which of the following is true regarding an organization's relationship with external stakeholders?

1. A. Specific guidance must be followed when interacting with nongovernmental organizations.
2. B. Disclosure laws tend to be consistent from one jurisdiction to another.
3. C. There are several internationally recognized standards for dealing with financial donors.
4. D. Legal representation should be consulted before releasing internal audit information to other assurance providers.

Correct Answer: D

- (Exam Topic 2)
According to IIA guidance, which of the following statements is true with regard to workstation computers that access company information stored on the network?

1. A. individual workstation computer controls are not as important as companywide server controls.
2. B. Particular attention should be paid to housing workstations away from environmental hazards.
3. C. Cybersecurity issues can be controlled at an enterprise level making workstation level controls redundant
4. D. With security risks near an all-time high workstations should not be connected to the company network

Correct Answer: B

- (Exam Topic 1)
Unsecured loans are loans:

1. A. That do not have to be repaid for over one year.
2. B. That appear to be too risky for most lenders to consider.
3. C. Granted on the basis of a company's credit standing.
4. D. Backed by mortgaged assets.

Correct Answer: C

- (Exam Topic 2)
Which of me following rs appfccaWe lo both a job order cost system and a process cost system?

1. A. Total manufacturing costs are determined at the end of each period.
2. B. Costs are summarized in a production cost repot for each department
3. C. Three manufacturing cost elements are tracked direct materials direct labor and manufacturing overhead.
4. D. The unit cost can be calculated by dividing the total manufacturing costs for the period by the units produced during the period

Correct Answer: C

- (Exam Topic 2)
Which of the following statements is true regarding the capital budgeting procedure known as discounted payback period?

1. A. It calculates the overall value of a project
2. B. It ignores the time value of money
3. C. It calculates the time a project takes to break even.
4. D. It begins at time zero for the project.

Correct Answer: C