Step 1: Recall the definition of a unit vector.
A vector is called a unit vector if its magnitude is equal to 1.
Thus if a vector $\vec{v}$ is a unit vector, then
\[
|\vec{v}| = 1
\]
Step 2: Determine the magnitude of $\lambda \vec{a$.
For any scalar $\lambda$ and vector $\vec{a}$, the magnitude satisfies
\[
|\lambda \vec{a}| = |\lambda| \, |\vec{a}|
\]
Since the magnitude of $\vec{a}$ is given as $a$, we obtain
\[
|\lambda \vec{a}| = |\lambda| a
\]
Step 3: Apply the unit vector condition.
For $\lambda \vec{a}$ to be a unit vector, its magnitude must be 1.
Thus
\[
|\lambda| a = 1
\]
Step 4: Solve for $a$.
\[
a = \frac{1}{|\lambda|}
\]
Step 5: Conclusion.
Thus $\lambda \vec{a}$ becomes a unit vector only when
\[
a = \frac{1}{|\lambda|}
\]
Final Answer: $\boxed{a = \dfrac{1}{|\lambda|}}$