CI 101: What You Need To Know About CIA Exams
Are you planning to get certified by the Institute of Internal Auditors (IIA)? Then you may need to pass the CIA exam. This standardized test must be taken if you want to become a Certified Internal Auditor, a respected professional in the accounting field. In this article, we explore the registration process for the exam and important details about the test that you should be aware of. Let’s dive in.
Test Overview
The CIA exam consists of three parts which focuses on increasingly complex levels of internal auditing, from general basics (Part 1) to more specialized topics (Parts 2 and 3). Each part includes multiple-choice questions and essay questions. The sections are:
- Part 1: Internal Audit Basics
- Part 2: Practices and Methodology
- Part 3: Business Knowledge for Internal Auditing
The exam is administered at Pearson VUE, a network of computer-based testing facilities around the world. As of this writing, the entire exam must be completed in a single session over five hours.
Eligibility and Cost
To be eligible to take the exam, you must meet two conditions. First, you must register with the IIA and supply an official form of photo identification. Secondly, you must verify your education and experience. The cost of the exam is $675 for IIA members, or $930 for non-members.
Scheduling
The first step to take the exam is to go to the Pearson VUE website to register and schedule a date for the exam. It’s a straightforward process that only takes about 15-20 minutes for part 1. However, scheduling for later parts (Parts 2 and 3) may take up to a month, depending on the availability in the testing center.
Preparation
Your success in the exam depends heavily on your preparation. The IIA has its own online resource to help you review materials. It is also worthwhile to check out third-party study materials and boot camps available on the market. Additionally, look for practice questions to be well-prepared.
Taking the Exam
On the day of the exam, make sure to arrive at least 1 hour prior to the scheduled time, as you will have to go through the check-in process, get familiar with the computer, and read the instructions. It’s a computer-based exam, so you can take mini breaks but keep in mind the overall time limit of five hours.
Results
Your score will be available on-screen once the exam is complete. As for the official results, you will receive an email within 6 weeks from the IIA with a detailed report. The email will include instructions on how to obtain your certificate.
Creating a Study Plan
The key to success in the CIA exam is planning. Having a well-defined study plan will help you handle the material efficiently and maximize the limited amount of time that you have. A good plan should include resources, estimated time to complete them, and mock tests.
Access the Latest CIA Practice Exams
Various materials and practice tests have been released under the certification banner to help candidates prepare for their CIA Exam. As the level of difficulty and the format of the test changes from time to time, these materials can come invaluable to get familiar with the updated format of the exam.
Get Assistance from a CPA Review Course
Investing on a premium quality study material may prove to be the best decision you ever make. Comprehensive review courses are often tailored to the CPA exam format and also offer support materials, such as online tutorials, flashcards, and mock exams.
Maintain Right Attitude
It is important to remember that passing the CIA exam is a long process, and one has to commit to a disciplined approach in order to succeed. Have a positive attitude and cultivate habits such as setting aside a fixed duration of time for studying, listening to lectures, and solving questions. This will help you to stick to a plan and retain knowledge.
Understand the Value of Practice Tests
Solving questions from the material you have studied is the most effective way to test yourself. Internal auditing practice tests are the most reliable way to judge your performance and will give you an idea of the type of questions that appear in the exam. Make sure to go through the questions thoroughly and understand the underlying concepts.
Attend Revision Courses
In addition to online materials, you can attend online/offline revision courses to gain a better insight into the exam concepts. These courses are designed to provide dedicated support and help you identify your weak areas. They typically include mentor sessions and one-to-one guidance.
Make Use of Mock Exams
Mock exams are their own special kind of preparation. Not only do they help you become familiar with the question type and exam structure, but they also provide a way to test yourself in a simulated exam environment. Depending on the practice set, such exams also offer detailed analysis of performance and tips & tricks to tackle various topics.
Keep Up to Date with the Trends
To make yourself a competitive candidate in the industry, you must stay aware of the latest trends in the auditor realm. Such trends are often reflected in the exam questions, and to keep up with the complex environment, a good knowledge of the current state is greatly beneficial.
Time Management and Stress Management
Time management is key when taking such long, complex exams. Set a regular studying plan and ensure that you are meeting your daily goals. Also make sure to take breaks when needed. As for stress management, focus on positive affirmations and create a positive atmosphere by rewarding yourself if you meet your goals.
