Online Access Free CIMA.P3.v2022-03-25.q122 Practice Test (Page 8)

P3 Exam Question 31

Select the correct ethical principle that corresponds to each ethical dilemma described.

P3 Exam Question 32

Which TWO of the following are reasons for a company to comply with the Committee of Sponsoring Organisations of the Treadway Commission 2017 Enterprise Risk Management Framework (COSO Framework)?

A.Complying with the COSO Framework will mean all employees of a company will comply with internal controls

B.Complying with the COSO Framework will improve a company's reputation

C.Complying with the COSO Framework will mean that a company's internal controls will work properly

D.Complying with the COSO Framework will mean there is a good structure to a company's risk management system

E.Complying with the COSO Framework will mean that all staff will understand a company's risk management system

P3 Exam Question 33

XYZ is unhappy with the way it decides on the likelihood and impact of risks when it completes the TARA matrix XYZ has decided to try other ways to get more consensus over the evaluation of risks as high, medium and low impact and likelihood Which of the following methods is likely to be most successful?

A.Allowing the risk manager to decide.

B.Sending questionaires to all employees

C.Searching online to see how the risks are evaluated in other companies

D.Using the Delphi method

P3 Exam Question 34

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.