Most Recent CIMAPRA19-P03-1 Exam Dumps

Prepare for the CIMA P3 Risk Management (Online) exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.

QA4Exam focus on the latest syllabus and exam objectives, our practice Q&A are designed to help you identify key topics and solidify your understanding. By focusing on the core curriculum, These Questions & Answers helps you cover all the essential topics, ensuring you're well-prepared for every section of the exam. Each question comes with a detailed explanation, offering valuable insights and helping you to learn from your mistakes. Whether you're looking to assess your progress or dive deeper into complex topics, our updated Q&A will provide the support you need to confidently approach the CIMAPRA19-P03-1 exam and achieve success.

The questions for CIMAPRA19-P03-1 were last updated on Apr 3, 2025.

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Question No. 1

You are in process of compiling ariskregister for P, a company whichmaintains railway tracks.This helps prevent accidents and ensures the trains are not disrupted due to problems with the track.

Which of the following statements are valid?

AA properly compiled risk register will identify all the risks to which P could possibly be exposed.

BA risk register should profile each risk in terms of probability and consequence.

CA risk register should concern itself with only the direct consequences of each risk such as injury to passengers and ignore indirect risks, such as re-routing trains due to an accident.

DThe risk register for P should be updated frequently: for example, every two weeks.

EThe risk register should specify the individual, or group of individuals, responsible for the management of each risk.

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Correct Answer: B, E

Question No. 2

H manufactures and sellshealthy dietary supplements. The companyrecruits individuals as part-timeagents to sellitsproductstofriends and colleagues. These agents are required to buy H's products and to resell them at asmall mark-up.

For a fee, H will provideagents withtrainingin persuasive selling techniques. Agents who pass exams at the conclusion of this training can become distributors. Distributors buy bulk quantities of H's products at a discount and can recruit their own sales agents. Those agents can also take training and can recruit agents of their own.

At what stage does H stop being a legitimate business and become apyramidsellingfraud?

AWhen it asks its agents to buy product and marketing material up front.

BWhenit offers returns on its agents' investments that seem remarkable.

CWhen it offers its agents more reward for recruiting other agents than for selling its product.

DWhen its training programmes promise to unlock the secret of selling its product.

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Correct Answer: C

Question No. 3

Which THREE of the following are true with regard to managing the changeover from an old to a new computer system?

APilot changeover moves the simplest part of the business to the new system first

BParallel running involves keeping the old system running normally until certain data retention criteria are met or confidence is gained, while the new system deals with the new workload Data input is usually earned out on both systems

CAll methods of changeover carry high risk and it is the preparation consideration of data compatibility and data cleansing before the changeover which has the biggest impact on the smoothness of the transition

DPhased changeover moves individual portions of the business to the new system one at a time

EDirect changeover, or big bang, is only used when the systems are significantly different such that comparing the outputs of the two systems is largely irrelevant

FPhased changeover is the safest and slowest method of changeover

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Correct Answer: D, E, F

Question No. 4

The long-term prospects for interest rates in the UK and the USA are 2% and 6% per annum respectively.

The GBP/USD spot rate is currently GBP/USD1.71.

Usinginterestrateparitytheory, what GBP/USD spot rate would you expect to see insix months' time?

AGBP/USD = 1.74

BGBP/USD = 1.78

CGBP/USD = 1.65

DGBP/USD = 1.67

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Correct Answer: A

Question No. 5

DRF is a manufacturing company

The internal auditor is conducting an investigation into the operation of the payroll system and has discovered a compliance error

The Head of Human Resources (HR) is required to add any new names to the payroll, using a specific computer password The Head of HR was absent for a month because of ill health During that period a senior member of the Wages Office, who is normally responsible only for organising wage payments, was issued a temporary password in order to add new names to the payroll The password was cancelled when the Head of HR returned to work

Which TWO of the following statements are correct?

AThe senior member of the Wages Office should be disciplined for being in breach of the rules

BThe senior member of the Wages Office could have committed fraud

CThe compliance error should be overlooked because it was as a result of staff absence

DThe internal auditor should ignore the error because it only lasted for one month

EThe payroll should be checked thoroughly to ensure that only authorised staff are present

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Correct Answer: A, E

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