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  1. Home
  2. IIA Certification
  3. IIA-CIA-Part3 Exam
  4. IIA.IIA-CIA-Part3.v2026-03-26.q303 Dumps
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Question 291

No derivative financial instruments that have1) fixed or determinable payments, 2 a fixed maturity, and3) are held by the investing entity with a positive intent and ability to hold until maturity are what category of financial instruments?

Correct Answer: A
Financial instruments are classified in three categories. Held-to-maturity investments are No derivatives that have fixed or determinable payments and a fixed maturity. The entity must have a positive intent and ability to hold such investments to maturity. The other categories are financial assets or liabilities held for trading and available-for-sale financial assets.
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Question 292

According to IIA guidance on IT, which of the following strategies would provide the most effective access control over an automated point-of-sale system?

Correct Answer: D
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Question 293

Application control objectives do not normally include assurance that:

Correct Answer: C
Application controls provide reasonable assurance that the recording, processing, and reporting of data are properly performed. Review and approval procedures for new systems are among the general controls known as system software acquisition and maintenance controls.
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Question 294

Which must be part of any risk model involving inventory valuation?

Correct Answer: C
The amount of inventor} loss through shrinkage directly affects inventory valuation_Inventory. Shrinkage must be considered in risk models involving inventory valuation.
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Question 295

A value-added tax is collected on the basis of:

Correct Answer: A
A value-added tax is similar to a retail sales tax on consumer goods. It is applied to the difference between the value of an entity's sales and the value of its purchases from other entities, that is. to the value added to the input In effect, a value-added tax is a national tax that penalizes consumption.
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