Most Recent CIMAPRA19-P03-1 Exam Questions & Answers

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 Nov 22, 2024.

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Question No. 1

Which of the following statements concerning the role ofa non-executivedirector (NED) is correct?

AIndividual NEDs should be on at least five boards if possible so as to give them wide experience.

BNEDs are not responsible for determiningexecutive directors' remuneration.

CNEDs should satisfy themselves on the integrity of financial information and should develop the control systems to ensure that integrity is maintained.

DNEDs have a key role in removing executive directors.

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Correct Answer: D

Question No. 2

The shares of a company have a beta factor of 1.15. Therefore, which of the following must be true?

AThe shares have more unsystematic risk than the stock market average.

BThe shares have more systematic risk than the stock market average.

CThe shares have more total risk than the stock market average.

DThe shares have less unsystematic risk than the stock market average.

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Correct Answer: B

Question No. 3

Which of the following are threats to the control environment?

ADirectors not producing receipts for their expenses.

BInternal auditors not following up on internal control problems.

CDirectors ignoring unethical practices that increase sales.

DRegularly changing procedures to comply with legislation.

EAllowing staff to follow unwritten policies.

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Correct Answer: A, B, C

Question No. 4

M, a manufacturing company, has had some problems with defects in one of the main productsitproduces. This product has been made by the company for many years and is very profitable. Last monthithad over 300 defects reported by customers which is more than 15% of products sold. This is a reputation risk for M and is also affecting profitability.

Which of the following controls could M introduce to reduce defects and also increase profitability?

AM could increase the number of quality control staff.

BM could introduce a procedure where quality control staff sign a form at the end of each dayto say they have examined 1 in 10 products for defects and they are satisfied with the quality.

CThe production director could examine one in every 10 products and sign a form to say they are satisfactory.

DM could service machinery at least once a month as recommended by the machinery supplier.

EM could check all employees qualifications to ensure they are qualified for their jobs.

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Correct Answer: B, D, E

Question No. 5

Under the COSO Enterprise Risk Management Framework, who is responsible for risk management?

AEvery member of the entity.

BThe board of directors only.

CManagers and directors only.

DThe shareholders.

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Correct Answer: A

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