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 Feb 22, 2025.

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Question No. 1

B, a construction company, has a policy of carrying out a post completion audit on every construction project undertaken where the value exceeds $1 million.

What is the role of the post completion audit?

ATo reward staff and celebrate success.

BTo signify the end of the project.

CTo highlight what can be done to improve similar future projects.

DTo apportion blame for things not done well.

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Correct Answer: C

Question No. 2

You are the management accountant for YY a food manufacturing company with an annual sales revenue of $6 million

You discover that the production manager's records are inconsistent Raw materials purchased do not agree with the total recorded for transfers to production plus wastage There is an average shortfall of 2% of purchases

You have investigated and discovered that there are often errors made during manufacturing that results in food that is safe to eat but. because of visual flaws, cannot be sold

The production manager is supposed to scrap all such damaged products and write all such losses off as waste You have discovered however that he has been giving the damaged food to a charity that assists homeless people No records are made of such gifts in order to conceal the losses due to manufacturing errors

Which of the following actions should you take? Select ALL that apply

AInstigate disciplinary action this is both theft and poor management

BDo nothing; this is a good cause and the amount is insignificant

CInstigate a review of the production process to potentially reduce the amount of wastage.

DInstigate a confidential but documented review with the production manager and tell him to stop

EInstigate a process whereby edible but unsellable items can be given to the charity officially

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Correct Answer: A, C, E

Question No. 3

A UK manufacturing company has simultaneously:

* purchased a put option to sell USD 1million at an exercise price of GBP1.00 = USD1.65

* sold a call option that grants the option holder the right to buy USD 1million at a price of GBP1.00 = USD1.61(this option has the same maturity date as the put).

Which of the following is a valid explanation for entering into these option positions?

AThe company expects to receive USD 1million from a customer and wishes to offset the cost of the put option by the premium on the call option.

BThe company expects to pay USD 1million to a supplier and wishes to offset the premium from the call option against the cost of the put option.

CThe company expects to receive USD 1million from a customer and wishes to obtain an additional benefit if the USD strengthens beyond GBP 1.00 = USD 1.61.

DThe company expects to pay USD 1million to a supplier and wishes to obtain additional protection against the USD strengthening beyond GBP 1.00 = USD 1.65.

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Correct Answer: A

Question No. 4

IOP manufactures aircraft engines. The company is presently engaged in a scenario planning exercise to consider the implications of a possible ban on the use of fossil fuels by the year 2040.

Which TWO of the following would be realistic responses to the scenario?

AWork with politicians to discredit the proposed restrictions on the use of fossil fuels

BCommission research into the development of battery-powered aircraft

CAdapt existing engine designs so that they can use plant-based fuels, such as vegetable oils

DDispose of manufacturing plant and move into more sustainable transport, such as electric trains

EDevelop more efficient engines that minimise the use of fossil fuels

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Correct Answer: B, C

Question No. 5

The Head of IT Security has been asked to conduct a detailed forensic analysis of a suspected data breach that ted to customer credit card details being intercepted.

Which TWO of the following would be suitable objectives for such a forensic analysis?

ARecovering the stolen credit card details before they can be abused by criminals

BDeveloping an understanding of the vulnerabilities that led to the breach

CIdentifying customers whose details have been stolen

DThe collection of evidence that can be used to convict the perpetrators of the breach.

EPreventing the credit card companies from blaming the entity for fraudulent charges

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Correct Answer: B, C

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