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Exam Code:
IIA-CIA-Part3
Exam Name:
Business Knowledge for Internal Auditing
Questions:
94 Q&A
Product Type:

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NEW QUESTION: 1
DRAG DROP
You are a Dynamics 365 Customer Service administrator.
Team members report that they cannot perform required tasks.

You need to configure security.
Which security methods should you use for each team? To answer, drag the appropriate security methods to the correct teams. Each security method may be used once, more than once, or not at all.
NOTE: Each correct selection is worth one point.

Answer:
Explanation:

Explanation


NEW QUESTION: 2
Institutional Investments is a fund management firm that provides investment advice as well as investment management to large client accounts. I.I.'s senior portfolio manager, Richard Fineman's cousin, Alberto Onestone, runs a small brokerage firm. Fineman has directed all of his junior portfolio managers to execute their trades with Alberto. Alberto's fees are higher than those available from discount brokers but Alberto provides Fineman and his managers a wealth of investment tips that he hears on the street. This helps Fineman in producing a successful investment newsletter. This helps enhance I.I.'s reputation, attracting new clients and allowing lower fees on all the accounts. Since the client accounts benefit from this arrangement, Fineman's managers do not think the practice is unethical. The relationship between Fineman and Onestone is not explicitly disclosed to the clients. You are currently interviewing with them for the position of a portfolio analyst. As a CFA Level I candidate, they portray the above situation as a hypothetical case and ask you if there are any violations of the AIMR code of Ethics that they have heard about. Your response should be which of the following?
I. Fineman and his managers are violating Standard IV (B.1) - Fiduciary Duties since they are not executing the trades at the lowest price available.
II. Fineman and his managers are violating Standard IV (B.1) - Fiduciary Duties since they are using client brokerage to pay for services that do not directly benefit them.
III. Fineman and his managers are violating Standard IV (B.7) - Disclosure of Conflicts to Clients and Prospects.
IV. Fineman and his managers are not violating the Code as far as you can tell from the details given.
A. II only
B. II and III only
C. I, II and III
D. IV only
Answer: B
Explanation:
Explanation/Reference:
Explanation:
By not revealing the relationship between Fineman and Onestone - which is clearly a source of conflict of interest - the managers of Institutional Investors are in violation of Standard IV (B.7) - Disclosure of Conflicts to Clients and Prospects. Further, while there is a symbiotic relationship between I.I. and Onestone to the extent that both the parties gain, the clients who pay higher brokerage lose. Even though the practice leads to lower fees, it is not clear that the clients get benefits worth the cost incurred on their accounts. Further, there is a clear sense of impropriety in the setup. Unless the excess brokerage directly benefits the client accounts, this case is a violation of Standard IV (B.1) - Fiduciary Duties.

NEW QUESTION: 3
Which THREE of the following statements are correct regarding the CIMA Code of Ethics for Professional Accountants?
A. Professional accountants should consider the ethical requirements contained in the CIMA Code as the basic principles which they should follow in performing their work
B. The CIMA Code is an example of a compliance driven ethical framework
C. The CIMA Code is mandatory for all CIMA members and students, and is applicable to all professional services.
D. The CIMA Code imposes an obligation on CIMA members and students to comply with relevant laws and regulations
E. Where a statutory requirement is in conflict with a provision of the CIMA Code, the CIMA Code requirement prevails
Answer: C,D,E

NEW QUESTION: 4
You work as a Software Developer for ABC Inc. The company has several branches worldwide. The company uses Visual Studio.NET 2005 as its application development platform. You are creating an application for the branch in China. You are also implementing encoding in the application for Chinese language. Which of the following encoding types will you use to support Chinese language?
Each correct answer represents a complete solution. Choose all that apply.
A. UTF-16
B. UTF-32
C. UTF-8
D. ASCII
Answer: A,B,C

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