Online Access Free CIMAPRA19-P03-1 Exam Questions

W is a construction company which undertakes large projects for governments and other clients worldwide. Following extensive tendering processes, contracts are issued for successful tenders, and projects typically take three to five years to complete. Contracts are normally fixed-price and many have considerable penalty clauses.
Which of the following would be appropriate policies and controls for W to implement?

• A.Contract terms should be worded precisely so that additional work is not deemed to form part of the contract.
• B.In order to ensure the maximum chance of winning the contract, tenders always commit W to completing the work at the lowest possible price and in the shortest possible time.
• C.Unsuccessful tenders should be analysed to establish the cause of them failing to be awarded the work and help to avoid future failures.
• D.The project steering committee and project board should receive regular project status reports.
• E.Ensuring a consistent separation of duties between those involved in the preparation of tenders and those involved in the planning of projects.
• F.Ensuring that the minimum legal wage is paid to all workers on the construction sites.

CVB is a consulting firm that occupies a large office with many individual staff offices Staff access the corporate network through a wired network AM work files and company emails are accessed through this network CVB is upgrading its office heating system At present, each room in the building has a simple, mechanical thermostat that can be used to regulate the heating CVB plans to install smart thermostats in each room These will make it possible to reduce heating costs by monitoring room temperatures centrally, using software that will be installed on the corporate network It would be expensive to connect the thermostats to CVB's existing wired network but it would be possible to connect a wireless router to the network so that CVB could install wireless smart thermostats instead The software on the network's server could then monitor and control the thermostats via the Wi-Fi connection that would be created by the wireless router.
Which TWO of the following statements are correct?

• A.Wired network connections are outdated and should not be used
• B.The wireless thermostats will be designed to be secure
• C.The wireless thermostats could enable a breach of CVB's data
• D.Cyber criminals could not identify and exploit vulnerabilities in the heating system
• E.Security concerns should not prevent CVB from upgrading its heating system

Which of the following are the Committee of Sponsoring Organisations (COSO) key principles of enterprise risk management?
Select ALL that apply.

• A.The creation of a risk aware culture
• B.Risk management is the responsibility of the risk committee
• C.Consideration of risk management in the context of business strategy
• D.A comprehensive and holistic approach to risk management
• E.Consideration of the main risk only which is financial risk

Which of the following are objectives of the audit planning procedure?

• A.To perform analytical review to identify possible areas for investigation.
• B.To perform substantive tests.
• C.To work out the time and resources required for the audit.
• D.To work out how audit evidence will be obtained.
• E.To set out how audit objectives will be achieved.

A US company enters into a five year borrowing with bank A at a floating rate of USD Libor plus 2%.
It simultaneously enters into an interest rate swap with bank B at 3.5% fixed against USD Libor plus 1%.
What is the hedged borrowing rate, taking the borrowing and swap into account?
Give your answer to 1 decimal place