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P3 Exam Dumps : Risk Management

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CIMA P3 Exam Dumps FAQs

Q. # 1: What is the CIMA P3 Exam?

The CIMA P3 Exam, also known as the Risk Management exam, is a part of the Chartered Institute of Management Accountants (CIMA) qualification. It focuses on identifying, evaluating, and managing risks within an organization.

Q. # 2: Who should take the CIMA P3 Exam?

The CIMA P3 exam is ideal for aspiring and practicing management accountants, financial analysts, and risk management professionals seeking the prestigious CIMA designation.

Q. # 3: What topics are covered in the CIMA P3 Exam?

The CIMA P3 exam covers topics such as risk identification, risk evaluation, risk management techniques, internal controls, and corporate governance.

Q. # 4: How many questions are on the CIMA P3 Exam?

The CIMA P3 Exam consists of 60 objective test questions.

Q. # 5: What is the duration of the CIMA P3 Exam?

The CIMA P3 Exam duration is 90 minutes.

Q. # 6: What is the passing score for the CIMA P3 Exam?

Candidates need to score at least 70% to pass the CIMA P3 Exam.

Q. # 7: What is the difference between CIMA P3 and F3 Exams?

The CIMA P3 (Risk Management) and CIMA F3 (Financial Strategy) exams are both part of the Chartered Institute of Management Accountants (CIMA) Professional Qualification, but they focus on different areas of business management. Here’s a comparison of the two:

  • CIMA P3 Exam: The CIMA P3 Exam emphasizes risk management and governance. It focuses on identifying, evaluating, and managing risks that could affect an organization. Topics include risk assessment, internal control systems, governance, ethics, and social responsibility.
  • CIMA F3 Exam: The CIMA F3 Exam is centered around financial strategy. It covers long-term financial decision-making, including raising finance, financial risk management, and evaluating corporate finance decisions such as mergers, acquisitions, and investment appraisals.

Q. # 8: Why choose CertsTopics for your CIMA P3 exam preparation?

At CertsTopics, we provide high-quality, fact-based P3 study materials tailored to your success. With our P3 exam dumps, practice tests, and questions and answers, you're equipped with everything you need to pass the P3 - Risk Management exam with ease.

Q. # 9: Does CertsTopics offer instant access to P3 study materials?

Yes, CertsTopics offers a smooth purchasing process. Simply add the desired P3 dumps material to your cart and proceed with payment for instant access to P3 PDFs and P3 testing engine.

Risk Management Questions and Answers

Question 1

MNB is a multinational IT company with headquarters in Asia and with operations in all continents.

MNB is attempting to expand its operations in Europe. This is seen as a major challenge as the European market is very well developed and highly competitive.

MNB develops and manufactures its own products. Parts and assemblies are sourced across Asia, America and Europe. These are sometimes purchased locally as a condition of a contract, but MNB aims to include as much of its own equipment as possible. Transfer prices between MNB's subsidiaries can be set in YEN, USD, EURO, GBP. Transfer prices are revised every month in line with production times as most goods are made on short order with sales cycles running at 3-4 months.

What types of risk are being presented here?

Options:

A.

Political risk

B.

Currency risk

C.

Economic risk

D.

Environmental risk

E.

Fraud risk

F.

Legal risk

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Question 2

D plc is a public relations company. Shares in D plc have recently been listed on the UK stock exchange.

D plc has an internal audit department that reports to the Chief Executive Officer (CEO). The CEO is considering outsourcing internal audit to an audit firm, which would not be the firm that conducts D plc's external audit.

Identify THREE advantages to D plc of outsourcing internal audit in this way.

Options:

A.

Doing so may improve independence.

B.

Decisions relating to internal audit can be based solely on cost.

C.

Internal audit will have a better understanding of D plc's objectives and culture.

D.

Specialist skills may be more readily available.

E.

Risk of staff turnover is passed to the outsource company.

Question 3

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?

Options:

A.

The store's board of directors should face disciplinary action for failing to prevent this fraud

B.

The coffee shop should be closed down because it is impossible to control its revenues.

C.

Even a well-designed system can be overridden by collusion between employees

D.

This fraud indicates that there are serious shortcomings in the store's system of internal controls