CIMA CIMAPRA19-P03-1-ENG P3 Risk Management (Online) Online Training
CIMA CIMAPRA19-P03-1-ENG Online Training
The questions for CIMAPRA19-P03-1-ENG were last updated at Nov 20,2024.
- Exam Code: CIMAPRA19-P03-1-ENG
- Exam Name: P3 Risk Management (Online)
- Certification Provider: CIMA
- Latest update: Nov 20,2024
Company W produces mobile phone components and has recently tendered for a substantial contract. The results of the tendering process will not become available until three months from now. If the company is successful it will require 2,000 units of a commodity which is currently traded in an open commodity market for $740 per unit.
However, there has been speculation that this commodity could increase substantially in price over the next three months and so the company is considering purchasing the commodity now and storing it for three months.
The funds to buy the commodity would be borrowed at an annual interest rate of 7% and the storage cost of the product would be $5.40 per unit per month. The storage costs would be paid at the end of the three month storage period.
Which of the following represents the gain or loss (to the nearest thousand dollars) that will accrue to Company W assuming that the price of the commodity rises to $800 in three months’ time?
- A . $62,000 gain
- B . $95,000 gain
- C . $88,000 gain
- D . $16,000 loss
UIO sells mobile phones through a cham of 100 shops spread across the country Shop managers have considerable discretion over pncmg and the incentives offered to sales staff Shop managers are evaluated on the monthly contribution from completed sales.
Those who exceed targets by more than 10% for three successive months are promoted Those who fail to achieve monthly targets in two successive months lose their jobs
Which of the following statements are true of the performance management of UIO’s shop managers?
Select ALL that apply
- A . LHO’s shop managers have an incentive to offer excellent customer service
- B . UIO’s shop managers are encouraged to take risks that may harm UIO
- C . UIO’s shop managers have an incentive to develop attractive sates promotions for their shops
- D . UIO’s shop managers are encouraged to sell phones at a loss
- E . UIO’s shop managers may have very little sense of loyalty to the company
DRAG DROP
As part of risk assessment exercise for a low-cost airline you are requested to match the risks listed below with the most approriate method of minimising or dealing with each risk.
DRAG DROP
As part of risk assessment exercise for a low-cost airline you are requested to match the risks listed below with the most approriate method of minimising or dealing with each risk.
DRAG DROP
As part of risk assessment exercise for a low-cost airline you are requested to match the risks listed below with the most approriate method of minimising or dealing with each risk.
In the purchasing department, the purchasing manager selects and approves all suppliers, as they are the only person with sufficient experience to do so. They use a very limited number of suppliers because they can rely on these suppliers to provide goods of the quality required at a competitive price. They do not keep any documents in relation to negotiations with other potential suppliers or other quotes obtained.
In relation to the above, which of the following statements are valid?
- A . The fact that the purchasing manager uses a very small number of suppliers is, in itself, a sign of poor internal controls.
- B . It is acceptable for clerks in the trade receivables section to make journal adjustments
without authorisation provided the amounts involved are not material to U’s financial statements. - C . It is acceptable for clerks in the trade receivable section to make journal adjustments without authorisation, provided they have no access to cash receipts.
- D . The fact that the purchasing manager does not keep documentation relating to negotiations with suppliers, or potential suppliers, is evidence that they are involved in fraudulent activity.
- E . Clerks making journal adjustments without reference to their supervisor is evidence of inadequate separation of duties.
- F . The way the role of purchasing manager is carried out in U increases the chance that the company will fall victim to fraudulent activity.
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