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Exam Code: IIA-CIA-Part2
Exam Name: Practice of Internal Auditing
Vendor: IIA

60 Questions & Answers
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NEW QUESTION: 1
The Interest Rate Parity Theorem should work because, when one sells a low interest rate currency to invest in a high interest rate currency and hedges the currency risk:
A. Interest rates are mean reverting, which means the low interest rate will tend to rise and the high interest rate will tend to fall
B. The profit from the appreciation of the high interest rate currency has been hedged away
C. The cost of hedging is given by the forward points, which are equal to the interest rate differential between the two currencies
D. The high interest rate currency will depreciate
Answer: C

NEW QUESTION: 2
기업은 결함에 대해 2 년 보증을 제공하는 신제품을 출시했습니다. 보증 비용은 판매 연도 매출 27 %, 판매 연도 다음 연도 매출의 3 %로 추정됩니다. 1 년차 및 5 백만 달러 및 7 백만 달러의 판매, 1 년차 및 2 년차의 보증 서비스 비용은 각각 미화 1 억 1 천만 달러, 미화 2 만 6 천 달러였습니다. 실체 2 년차에는 어떤 보증 비용 조항이 있습니까?
A. US $ 350.000
B. US $ 260.000
C. US $ 370.000
D. US $ 290.000
Answer: A
Explanation:
The warranty provision must be matched with revenue in the year of sale. Thus, the provision related to Year 2 sales must be recognized in Year 2 even if actual expenditures will not occur until Year 3_ The provision related to Year 2 sales equals US $350,000 [$7,000,0002% for the year of sale -- 3% for the year after the year of sale)].

NEW QUESTION: 3
What is the minimum acceptable number of drives in a RAID 5 pool on a VNX array?
A. 0
B. 1
C. 2
D. 3
Answer: A
Explanation:



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