Free CIMA CIMAPRO19-P03-1-ENG Exam Questions

Become CIMA Certified with updated CIMAPRO19-P03-1-ENG exam questions and correct answers

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Total 278 Questions | Updated On: Nov 18, 2024

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Question 1

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 : mplying with the COSO Framework will mean all employees of a company will comply with internal controls

B : mplying with the COSO Framework will mean that a company's internal controls will work properly

C : mplying with the COSO Framework will mean there is a good structure to a company's risk management system

D : mplying with the COSO Framework will mean that all staff will understand a company's risk management system

E : mplying with the COSO Framework will improve a company's reputation

Answer: A,C

Question 2

Which of the following are objectives of the audit planning procedure?

A : work out the time and resources required for the audit.

B : perform substantive tests.

C : work out how audit evidence will be obtained.

D : perform analytical review to identify possible areas for investigation.

E : set out how audit objectives will be achieved.

Answer: A,C

Question 3

James owns a small company which sometimes suffers from credit risk.

Which of the following measures should he put in place to help reduce this risk?

A : troduce credit checks for new customers.

B : duce the company bank loans.

C : y suppliers' invoices quicker.

D : ok for a loan with a lower interest rate.

Answer: A

Question 4

FGT is evaluating the political risks associated with its operations around the world.

Which of the following would indicate that a particular subsidiary has a high level ofpolitical risk?

A : rthcoming elections in the subsidiary's host country.

B : subsidiary's host country requires the active participation of local partners before the subsidiary can operate.

C : mpany law in the subsidiary host country is lax.

D : subsidiary islocated a considerable distance from FGT's home country.

E : esubsidiary employs a large number of nationals from the host country.

Answer: A,B,C

Question 5

Which method of quantifying risk exposure can be used to calculate the maximum loss on a portfolio occurring within a period of time with a given probability?

A : lue at Risk

B : gression analysis

C : mulation

D : pected value

Answer: D

Page: 1 / 56

Total 278 Questions | Updated On: Nov 18, 2024

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