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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

Company H operates a fleet of lorries. The Internal Auditor recently conducted an investigation into the transport needs of the company. Their report recommended that the lorries be disposed of, the drivers made redundant, and the distribution of the company's products be outsourced.

The type of investigation carried out by the Internal Auditor is best described as a:

Options:

A.

Compliance Audit

B.

Economy Audit

C.

Efficiency Audit

D.

Effectiveness Audit

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Question 2

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?

Options:

A.

YGH should consider introducing more detailed checking of the assumptions underlying the costs of future projects.

B.

The production department should not be granted funding for future projects unless there are compelling reasons to proceed.

C.

G should be held accountable for the overspend on the project.

D.

H should be held accountable for the overspend on the project.

Question 3

In-depth analysis showing the identification and quantification of exposure to financial risk has become more accessible in recent years. Several varieties of analysis are now available.

Which of the following statements are true?

Options:

A.

Value at risk analysis, which has become available through increased computing power, is now easier to implement and can cater for extreme market conditions.

B.

Monte Carlo analysis is a modelling technique which can be applied to financial analysis, allowing thousands of variables to be integrated together to show standard behaviours and outlier abnormalities requiring detailed understanding in a 'what if?' environment.

C.

Sensitivity analysis involves checking the performance of a financial risk model against the various interrelationships between the different input variables in the model.

D.

Simulation, which is becoming available through standard computing packages, is complex to implement but dynamic and adaptable to cater for different assumptions.

E.

Regression analysis is easy to understand and implement, and based on future expectations.