Free CIMA CIMAPRA19-P03-1-ENG Exam Questions

Become CIMA Certified with updated CIMAPRA19-P03-1-ENG exam questions and correct answers

Page: 1 / 56

Total 276 Questions | Updated On: Mar 24, 2026

Add To Cart

Question 1

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?

A : could increase the number of quality control staff.

B : 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.

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

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

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

Answer: A,B,D

Question 2

SDF is a quoted company. Which of the following matters should normally be dealt with by SDF's audit committee?

A : external auditor has requested a higher fee than normal for the forthcoming financial year because new legislation will require additional audit work.

B : Head of Internal Audit is concerned that a recent internal audit investigation may have revealed serious compliance failures.

C : external auditor is concerned that an accounting policy selected by the Finance Director does not comply with the spirit of the relevant accounting standard.

D : external auditor has identified a material error, due to a clear miscalculation, in the draft financial statements.

E : Finance Director will be retiring within the next year and a replacement will have to be found.

Answer: A,B,C

Question 3

With regard to the rote of the audit committee which of the following statements are correct? Select ALL that apply

A : audit committee should design the system of internal controls

B : audit committee should decide annually whether it needs an internal audit function

C : audit committee should decide annually whether it needs an external audit function

D : audit committee should review and monitor the effectiveness of the company's internal audit function

E : audit committee should provide arrangements for whistle blowing

F : The audit committee should engage consultants to carry out business reviews

Answer: A,D

Question 4

Which of the following statements are correct?

A : is always possible to remove all risks when undertaking large projects.

B : a project has high risks it should always be accepted as the rewards will always be high.

C : a project has low risks it will usually have relatively low returns.

D : k can always be transferred to someone else.

E : k should be carefully considered when evaluating possible future projects.

Answer: A,C

Question 5

Which TWO of the following scenarios should be considered in strategic scenario planning by a publishing company that specialises in academic textbooks?

A : ere could be a change in the technology used by consumers, such as smaller mobile phones with smaller screens

B : dget changes could have an impact on the funding available to college and university libraries

C : terms offered by media companies for film rights for books could change

D : The quality of output from printing presses might improve

E : vironmental concerns could lead to a decrease in the availability of trees to make paper

Answer: B,C

Page: 1 / 56

Total 276 Questions | Updated On: Mar 24, 2026

Add To Cart