Pass P3 Exam with Updated P3 Exam Dumps PDF 2023
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CIMA P3 (Risk Management) Certification Exam covers a variety of topics related to risk management, including identifying, assessing, and managing risks, as well as strategies for risk mitigation and risk response. P3 exam also covers the importance of risk governance, risk culture, and risk communication in effective risk management. Individuals who pass the exam will be able to demonstrate their proficiency in risk management, which will enhance their employability and career prospects. Additionally, the CIMA P3 (Risk Management) Certification Exam is recognized globally, which means that individuals who pass the exam will be able to work in different countries and industries.
CIMA P3: Risk Management exam is designed for professionals who are looking to advance their careers in finance, accounting, and risk management. P3 exam is highly relevant for individuals who work in risk management roles, as well as those who work in related fields such as audit, compliance, and financial reporting. P3 exam is also suitable for individuals who are looking to enhance their knowledge of risk management to improve their overall financial acumen.
NEW QUESTION # 63
Select the correct ethical principle that corresponds to each ethical dilemma described.
Answer:
Explanation:
NEW QUESTION # 64
A company is keen to avoid becoming a victim to malware. Which TWO of the following techniques would be valid responses to this threat?
- A. Removing USB ports from all networked computers
- B. Conducting denial of service attacks against perpetrators who attempt to infect the company
- C. Reverse engineering all viruses that are discovered on company machines
- D. Providing computers with independent internet access in the staff break room for personal emails and online shopping
- E. Paying ransomware demands immediately in order to ensure that malware is removed promptly
Answer: A,D
NEW QUESTION # 65
MNO is a hotel chain which consists of many small local hotels spread throughout Sealand and often used by business customers It has decided to undertake scenario planning to see how it might be affected by changes in the future.
Which TWO of the following scenarios would be helpful in strategic scenario planning for MNO?
- A. An increase in interest rates
- B. The growth in internet services that facilitate short-term room lets by private landlords.
- C. Climate change
- D. A change in local business rates for private property.
- E. The increase in the use of search apps to book hotel rooms
Answer: B,E
NEW QUESTION # 66
Identify, from the list provided, which category of business risk most accurately describes the events detailed below.
Answer:
Explanation:
NEW QUESTION # 67
Which THREE of the following are principles of good corporate governance according to the UK Corporate Governance Code?
- A. Accountability
- B. Leadership
- C. Reliability
- D. Remuneration
- E. Honesty
Answer: A,B,D
NEW QUESTION # 68
Select the most appropriate level of responsibility for managing each of the following risks.
Answer:
Explanation:
NEW QUESTION # 69
YY is a company which generates electricity from alternative energy sources It has just begun constructing a wind farm near a well-known beauty spot The protect has been controversial as campaigners say it will be noisy and unsightly.
The campaigners took legal action but lost the case Some of them have started a campaign of direct action against YY and are physically blocking roads leading to the site and attempting to intimidate YY's staff YY has hired a security company to help it to protect its staff Which of the following statements are view in relation to the ethics of this scenario'' Select ALL that apply.
- A. The security firm must take care not to use more force against the protestors than is absolutely necessary.
- B. The generation of electricity from clean renewable and sustainable sources is too important for the protestors' concerns to be considered
- C. Since the protestors have already lost their court case they would no longer be ethically justified in engaging in political lobbying to try to get the government to change the law in this area
- D. YY is within its rights to hire the security firm because it has duty of care to its employees
- E. YY no longer has any duty of care to the protestors since their actions are illegal because they lost their court case
Answer: A,B,D
NEW QUESTION # 70
There are many method for appraising capital projects.
Select ALL correct statements.
- A. All projects should be evaluated using sensitivity analysis.
- B. The time value of money should be the same for all similar competing projects.
- C. No one method of capital appraisal taken alone is adequate to evaluate competing projects.
- D. Net Present Value evaluation considers a range of different discount rates considering different risk factors and finance methods.
- E. Opportunity cost is only relevant when capital is scarce.
- F. Decisions should only consider the financial implications of the project.
Answer: B,C,D
NEW QUESTION # 71
The government health service in country H employs well over 100,000 staff in various locations throughout the country. Traditionally, local management has had high levels of autonomy in relation to personnel issues and there are several different human resources (HR) managers located across various regions.
The government has decided to introduce a completely new HR/payroll information system to have just one database containing all relevant information about every staff member on the payroll (start date, job title, salary and all other details) and to use this information to begin streamlining recruitment and HR policies.
The government has outsourced the system's development to a reputable company.
Which of the following are disadvantages associated with this IT project?
- A. The government is very heavily dependent on the contractor to whom this assignment is outsourced and if they do not to perform as required this could have serious consequences.
- B. The amount of data storage space required to run the system may not be available.
- C. Any initial problems in running the system could have serious repercussions as it could lead to, for example, staff not being paid, payroll tax not being properly collected, and similar difficulties.
- D. There is a risk that the system will not capture all of the existing terms and conditions of staff, thus leading to industrial relations problems later.
- E. There is a risk that significant anomalies in the current system will be highlighted.
- F. The system could make it more difficult to employ specialist medical staff on terms and conditions which are different from the normal terms and conditions available.
Answer: A,C,D
NEW QUESTION # 72
Which categories on a risk map best describe the loss of sales floor staff in a fast fashion chain?
- A. High likelihood; high consequence
- B. Low likelihood; high consequence
- C. High likelihood, low consequence
- D. Low likelihood; low consequence
Answer: C
NEW QUESTION # 73
W plc is a large international supermarket chain. It has many thousands of suppliers and many thousands of others competing for "shelf space" in its supermarkets.
Which of the following would be appropriate provisions for W plc to include in its Ethical Code in relation to its suppliers?
- A. W plc shall endeavour to take as high a percentage of each supplier's output as possible.
- B. W plc shall keep confidential all information received from suppliers and potential suppliers.
- C. W plc shall continuously remind suppliers that it always has several alternative suppliers to choose from.
- D. W plc shall insist on an exclusivity agreement with each supplier so that identical products are not available from other outlets.
- E. W plc shall endeavour to adhere to the terms of its contracts with its suppliers at all times.
- F. W plc shall not use its buying power unscrupulously.
Answer: B,E,F
NEW QUESTION # 74
B, a construction company, has a policy of carrying out a post completion audit on every construction project undertaken where the value exceeds $1 million.
What is the role of the post completion audit?
- A. To signify the end of the project.
- B. To apportion blame for things not done well.
- C. To highlight what can be done to improve similar future projects.
- D. To reward staff and celebrate success.
Answer: C
NEW QUESTION # 75
Z plc has recently undertaken a SWOT analysis. The SWOT analysis identified two main threats to Z plc:
* The threat that the currency of Z plc's main overseas competitor weakens compared to Z plc's home currency.
* The threat that there will be a military coup which will overthrow the government in the country that Z plc purchases most of its raw materials from.
Which TWO of the following categories of risk correspond most closely to the above threats?
- A. Economic risk
- B. Business risk
- C. Political risk
- D. Financial risk
Answer: A,C
NEW QUESTION # 76
Assuming a company has both internal auditors and risk managers, indicate which of these would perform the duties listed below:
Answer:
Explanation:
NEW QUESTION # 77
FBK produces motorbikes for the high end sports market. The company has recently developed a bike that uses a powerful electric motor instead of a petrol engine.
Which of the following are product risks?
Select ALL that apply.
- A. The risk that a bike powered by a quiet electric motor will not create the thrilling engine noise that is prized by traditional riders.
- B. The risk that demand for the bike will exceed production capacity
- C. The risk that the different characteristics of an electric engine will make the bike difficult to control
- D. The risk that the silent running of the bike will create a hazard to pedestrians.
- E. The risk that FBK cannot afford to finance the working capital associated with the launch
Answer: D,E
NEW QUESTION # 78
The list below has duties performed by risk managers and internal auditors. Show who would carry out the duties assuming the company has both risk managers and internal auditors.
Answer:
Explanation:
NEW QUESTION # 79
Some sensitive computer systems are particularly attractive to cyber criminals. Passwords may be used as one element of restricting access to legitimate users, but the password systems should be designed with great care.
Which of the following methods would enhance a password access system?
- A. The use of a sequence of passwords, using upper and lower case with numbers, easy to remember but regularly changed for example; November 11, December12, January01.
- B. The password should be typed quickly.
- C. The logging and reporting of failed password attempts.
- D. The use of drop down menus, using screen coordinates rather than transmitting keystrokes over a communication link.
- E. The use of family members names, known only to the individual and not known by colleagues.
- F. The use of a two level system, a primary password plus questions correctly answered from set of queries, logged at system set up time.
Answer: C,D,F
NEW QUESTION # 80
B uses a balanced scorecard to monitor the performance of its divisions.
Classify each of the following decisions taken by a division's management team as either commercially sound or dysfunctional.
Answer:
Explanation:
NEW QUESTION # 81
Match the descriptions shown in the boxes below with the method of quantifying risk exposure it best describes.
Answer:
Explanation:
NEW QUESTION # 82
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CIMA P3 (Risk Management) Exam is an essential exam for those looking to become qualified management accountants. P3 exam is designed to assess your knowledge of risk and how it affects business decisions, as well as your ability to mitigate these risks. The P3 exam is part of the CIMA Professional Qualification, which is highly respected in the accounting industry.
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