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To prepare for the CIMA P3: Risk Management exam, candidates are advised to study the syllabus thoroughly and to practice applying the concepts and techniques in real-life scenarios. They can also benefit from attending training courses and workshops that are designed specifically for this exam. Additionally, there are a range of study materials available, such as textbooks, revision guides, and practice exam papers, which can help candidates to prepare effectively for the exam.

Learning Concepts of CIMA P3: Risk Management Exam

CIMA P3: Risk Management Exam Guide

Short time Preparation Steps of the Exam

The CIMA P3: Risk Management exam is a part of the advanced level business and finance syllabus. On top of that, it generates predictions regarding the data that is accessible to the administration. For that reason, it is worth focusing on the risk management of the business. On the exam, there are 6 questions related to this subject. There are 3 different exercises that are designed to reveal whether you have a basic or advanced knowledge of this subject. In this article, we will give you the specifications of each subject and a short time preparation guide. CIMA P3 Dumps will help you to take the certification exam and get your CIMA P3: Risk Management Certification.

CIMA Risk Management Sample Questions (Q283-Q288):

NEW QUESTION # 283
Which TWO of the following are reasons for a company to comply with the Committee of Sponsoring Organisations of the Treadway Commission 2017 Enterprise Risk Management Framework (COSO Framework)?

A. Complying with the COSO Framework will mean that a company's internal controls will work properlyB. Complying with the COSO Framework will mean that all staff will understand a company's risk management systemC. Complying with the COSO Framework will mean there is a good structure to a company's risk management systemD. Complying with the COSO Framework will mean all employees of a company will comply with internal controlsE. Complying with the COSO Framework will improve a company's reputation

Answer: C,E

NEW QUESTION # 284
An electricity company owns and operates a nuclear power station located ten miles from a large city. A recent and very extensive engineering examination of the power station concludes with the estimate that the probability of a major nuclear disaster within the next 20 years is 0.2%.
Which of the following best explains the relevance of quantifying the risk in that way?

A. There is no acceptable level of risk for a major nuclear accident and so the probability has little information value in itself.B. The probability is so low as to be ignored.C. The calculation of a precise probability demonstrates that the engineers who conducted the inspection are experts in their field.D. The directors will be able to argue that they were not negligent in the event of a major disaster within the 20 year period.

Answer: A

NEW QUESTION # 285
A large department store has just discovered that the staff in the store coffee shop have been defrauding the company for the past three years. The six employees who work in the coffee shop have been keeping a proportion of the cash takings, concealing the theft by not recording all sales up in the till They shared the proceeds of this fraud between them The fraud was only uncovered when one of the employees left and his replacement reported the theft to management rather than becoming involved in the crime Which of the following best describes the role of the store's internal controls in the context of this fraud?

A. Even a well-designed system can be overridden by collusion between employeesB. The store's board of directors should face disciplinary action for failing to prevent this fraudC. This fraud indicates that there are serious shortcomings in the store's system of internal controlsD. The coffee shop should be closed down because it is impossible to control its revenues.

Answer: A

NEW QUESTION # 286
Rio owns an architects business which employs 12 skilled architects and four administrative staff.
The Office Manager has just attended a workshop on internal controls and the way in which they can improve organisations. He intends to implement some internal controls as soon as possible.
What are the limitations of an internal control system in Rio's business?

A. Internal controls will usually mean hiring more staff.B. Employees could ignore the internal controls.C. Internal controls may slow down the speed with which the architects can respond to enquiries.D. Internal controls are only suitable for large businesses.E. If Rio does not support the internal control system then the controls may not be adhered to.

Answer: B,C,E

NEW QUESTION # 287
YGH has recently completed a post completion audit on a five year contract that has only recently come to a conclusion. The main finding was that the project delivered most of the expected benefits, but that it cost significantly more to implement than had been anticipated at the project appraisal stage. YGH would not have proceeded if the true cost had been known at that stage.
The project was the responsibility of the production department, which is presently managed by G.
When the project was proposed, the production department was managed by H.
H is now YGH's Director of Operations.
How should the finding from this post completion audit be interpreted?

A. The production department should not be granted funding for future projects unless there are compelling reasons to proceed.B. H should be held accountable for the overspend on the project.C. YGH should consider introducing more detailed checking of the assumptions underlying the costs of future projects.D. G should be held accountable for the overspend on the project.

Answer: C

NEW QUESTION # 288
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