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Free IIA-CIA-Part3 Exam Braindumps (page: 25)

Page 25 of 390
PDF with 1555 Questions

Which of the following is not an appropriate time series forecasting technique?

  1. Least squares.
  2. Exponential smoothing.
  3. The Delphi technique.
  4. Moving averages.

Answer(s): C

Explanation:

The Delphi technique is an approach in which the manager solicits opinions on a problem from experts, summarizes the opinions, and feeds the summaries back to the experts (without revealing any of the participants to each other). The process is reiterated until the opinions converge on an optimal solution. Thus, the Delphi technique is a qualitative, not a quantitative, method.



A company in the process of analyzing inventory safety stock levels is having difficulty because demand vanes widely from one week to the next. However, it has been discovered that demand occurs according to a probability distribution.
Which of the following is a stochastic model that the company could use in this situation?

  1. Markov process.
  2. Linear programming.
  3. Regression analysis.
  4. Critical path network analysis.

Answer(s): A

Explanation:

A stochastic model is probabilistic. Markov processes quantify the likelihood of a future event based on the current state of the process.



A company experiences both variable usage rates and variable lead times for its inventory items. The probability distributions for both usage and lead times are known. A technique the company could use for determining the optimal safety stock levels for an inventory item is:

  1. Queuing theory.
  2. Linear programming.
  3. Decision tree analysis.
  4. Monte Carlo simulation.

Answer(s): D

Explanation:

Simulation is a technique for experimenting with mathematical models using a computer. Monte Carlo simulation is a technique to generate the individual values for a random variable. A random number generator is used to produce numbers with a uniform probability distribution. The second step of the Monte Carlo process then transforms the random numbers into values consistent with the desired distribution. The performance of a model under conditions of uncertainty may be investigated by randomly selecting values for each of the variables in the model based on the probability distribution of each variable and then calculating the value of the solution. Advantages of Monte Carlo simulation are that time can be compressed, alternative policies can be considered, and complex systems can be analyzed.



A bank is designing an on-the-job training program for its branch managers. The bank would like to design the program so that participants can complete it as quickly as possible. The training program requires that certain activities be completed before others. For example, a participant cannot make credit loan decisions without first having obtained experience in the loan department. An appropriate scheduling technique for this training program is:

  1. PERT/CPM.
  2. Linear programming.
  3. Queuing theory.
  4. Sensitivity analysis.

Answer(s): A

Explanation:

PERT/CPM is a network technique for scheduling interrelated time series activities and identifying any critical paths in the series of activities The critical path is the longest path through the network.



Page 25 of 390



Post your Comments and Discuss IIA IIA-CIA-Part3 exam with other Community members:

Gosia commented on December 16, 2024
Hi, did you have the same questions on exams?
POLAND
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Becky commented on June 23, 2024
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Shehata mohamed commented on December 13, 2023
Many thanks cia part 3
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IIA-CIA-Part3 commented on July 16, 2023
CIA Exam Part Three: Business Knowledge for Internal Auditing
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KC commented on December 20, 2017
Very helpful. For a another braindump I paid almost 4 times this and got the same material. Then I came across this site. Can't believe the same set of questions and answers are sold for almost a fraction of a price with much better quality and support.
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