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CIMA P3 Dumps Questions Answers

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P3
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Last Update: Nov 30, 2024
339 Questions
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CIMA P3 Exam Dumps FAQs

The CIMA P3 Risk Management Exam is a professional qualification exam that tests your knowledge of risk management and its application in business. It is one of the three exams that make up the CIMA Strategic Level.

The CIMA P3 Risk Management Exam is designed for accounting and finance professionals seeking to advance their careers in risk management. This includes:

  • CIMA P2 students looking to complete their professional qualification.
  • Experienced professionals in finance, treasury, risk, or internal audit roles.
  • Anyone seeking to demonstrate expertise in identifying, evaluating, and managing business risks.

The CIMA P3 Risk Management exam syllabus encompasses a wide range of risk management concepts, including:

  • Enterprise Risk Management (ERM) framework
  • Risk identification, assessment, and evaluation
  • Strategic risk management
  • Financial and non-financial risk types
  • Internal controls and risk mitigation strategies
  • Risk financing and insurance
  • Managing risks associated with technology, projects, and investments
The difficulty of the CIMA P3 Risk Management Exam is subjective and varies from person to person.
The CIMA P3 Risk Management Exam consists of 60 objective test questions and is 90 minutes long.
The CIMA P3 Risk Management Exam is an online computer-based exam that is taken at a Pearson VUE test center.
The pass mark for the CIMA P3 Risk Management Exam is 50%.

The CIMA P3 Risk Management Exam and the CIMA F3 Financial Strategy Exam are both part of the CIMA Strategic Level, but they cover different topics.

  • CIMA P3 Exam: The CIMA P3 Risk Management Exam focuses on risk management and its application in business. It covers topics such as risk identification, risk assessment, risk response, risk monitoring, and risk communication.
  • CIMA F3 Exam: The CIMA F3 Financial Strategy Exam focuses on financial strategy and its application in business. It covers topics such as financial strategy formulation, financing decisions, investment decisions, and corporate finance.

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Risk Management Questions and Answers

Questions 1

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?

Options:

A.

Internal controls are only suitable for large businesses.

B.

Employees could ignore the internal controls.

C.

If Rio does not support the internal control system then the controls may not be adhered to.

D.

Internal controls may slow down the speed with which the architects can respond to enquiries.

E.

Internal controls will usually mean hiring more staff.

Questions 2

Which of the following statements concerning the use of balanced scorecards to measure divisional performance is correct?

Options:

A.

Dysfunctional behaviour is more difficult than under traditional reporting because a wide range of factors will be measured and reported.

B.

Dysfunctional behaviour is impossible because divisional managers are evaluated on so many different decisions.

C.

Contradictory and inconsistent targets prevent balanced scorecards being a useful tool for performance evaluation.

D.

The input for balanced scorecard reports comes from many sources so it is not possible to misrepresent performance.

Questions 3

Smalltown had a problem with people parking cars on the town's mam shopping streets instead of in the nearby car parks The parked cars created congestion and made it difficult for delivery vehicles to unload Smalltown's local government had employed traffic wardens to enforce parking regulations by issuing parking fines to motorists who parked for more than the permitted 30 minutes.

The local government took further action to deal with this problem It banned parking on the busiest streets, it introduced parking charges in the remaining streets and it made it free to park m the town's car parks for up to two hours Fewer people now park cars on the streets because of the charges, but those who do generate significant revenues for the local government Fewer traffic wardens are required and so wage costs have reduced

The local goverment auditors have decided to carry out a value for money audit of the parking system

Which of the following is a measure of effectiveness?

Options:

A.

The main shopping streets are no longer congested

B.

The remaining traffic wardens are less stressed because they no longer receive abuse by motorists.

C.

Parking enforcement costs less than before

D.

Revenues from parking have increased

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