Explanation/Reference:
The word INCORRECTLY is the keyword used in the question. You need to find out a statement which is not valid about packet switching. As in the network switching, packet traverse different path, there will be always variable delay for each packet to reach to destination.
For your exam you should know below information about WAN message transmission technique:
Message Switching
Message switching is a network switching technique in which data is routed in its entirety from the source node to the destination node, one hope at a time. During message routing, every intermediate switch in the network stores the whole message. If the entire network's resources are engaged or the network becomes blocked, the message-switched network stores and delays the message until ample resources become available for effective transmission of the message.
Message Switching

Image from: http://ecomputernotes.com/images/Message-Switched-data-Network.jpg Packet Switching Refers to protocols in which messages are divided into packets before they are sent. Each packet is then transmitted individually and can even follow different routes to its destination. Once all the packets forming a message arrive at the destination, they are recompiled into the original message.
Packet Switching

Image from: http://upload.wikimedia.org/wikipedia/commons/f/f6/Packet_Switching.gif Circuit Switching Circuit switching is a methodology of implementing a telecommunications network in which two network nodes establish a dedicated communications channel (circuit) through the network before the nodes may communicate.
The circuit guarantees the full bandwidth of the channel and remains connected for the duration of the session. The circuit functions as if the nodes were physically connected similar to an electrical circuit.
The defining example of a circuit-switched network is the early analog telephone network. When a call is made from one telephone to another, switches within the telephone exchanges create a continuous wire circuit between the two telephones, for as long as the call lasts.
In circuit switching, the bit delay is constant during a connection, as opposed to packet switching, where packet queues may cause varying and potentially indefinitely long packet transfer delays. No circuit can be degraded by competing users because it is protected from use by other callers until the circuit is released and a new connection is set up. Even if no actual communication is taking place, the channel remains reserved and protected from competing users.
Circuit Switching

Image from: http://www.louiewong.com/wp-content/uploads/2010/09/Circuit_Switching.jpg See a table below comparing Circuit Switched versus Packet Switched networks:
Difference between Circuit and packet switching

Image from:http://www.hardware-one.com/reviews/network-guide-2/images/packet-vs-circuit.gif Virtual circuit In telecommunications and computer networks, a virtual circuit (VC), synonymous with virtual connection and virtual channel, is a connection oriented communication service that is delivered by means of packet mode communication.
After a connection or virtual circuit is established between two nodes or application processes, a bit stream or byte stream may be delivered between the nodes; a virtual circuit protocol allows higher level protocols to avoid dealing with the division of data into segments, packets, or frames.
Virtual circuit communication resembles circuit switching, since both are connection oriented, meaning that in both cases data is delivered in correct order, and signaling overhead is required during a connection establishment phase. However, circuit switching provides constant bit rate and latency, while these may vary in a virtual circuit service due to factors such as:
varying packet queue lengths in the network nodes,
varying bit rate generated by the application,
varying load from other users sharing the same network resources by means of statistical multiplexing, etc.
The following were incorrect answers:
The other options presented correctly describes about packet switching.
The following reference(s) were/was used to create this question:
CISA review manual 2014 Page number 265

Deep packet inspection (DPI) is a core capability of data loss prevention (DLP) tools that allows the analysis of the content of data packets in transit. This helps detect the unauthorized movement of sensitive data by examining packet-level details.
* Network Traffic Logs (Option A): These provide historical data but do not actively detect data in transit.
* Data Inventory (Option C): Useful for identifying where sensitive data resides but not for monitoring its movement.
* Proprietary Encryption (Option D): Protects data but does not detect unauthorized transmission.
Reference: ISACA CISA Review Manual, Job Practice Area 4: Protection of Information Assets.

Explanation
IT value analysis has not been completed is a finding from an IT governance review that should be of greatest concern. IT value analysis is a process of measuring and demonstrating the contribution of IT to the organization's goals and objectives. An IS auditor should be concerned about the lack of IT value analysis, as it may indicate that the IT investments and resources are not aligned with the business needs and expectations, or that the IT performance and outcomes are not monitored and evaluated. The other options are less critical findings that may not have a significant impact on the IT governance. References:
CISA Review Manual (Digital Version), Chapter 5, Section 5.11
CISA Review Questions, Answers & Explanations Database, Question ID 218

Explanation
The best course of action for an IS auditor who finds that some critical recommendations have not been implemented is to evaluate senior management's acceptance of the risk. The IS auditor should understand the reasons why the recommendations have not been implemented and the implications for the organization's risk exposure. The IS auditor should also verify that senior management has formally acknowledged and accepted the residual risk and has documented the rationale and justification for their decision. The IS auditor should communicate the findings and the risk acceptance to the audit committee and other relevant stakeholders.
References:
CISA Review Manual (Digital Version)
CISA Questions, Answers & Explanations Database