Most Recent CIMAPRO19-P03-1 Exam Dumps

Prepare for the CIMA P3 Risk Management exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.

QA4Exam focus on the latest syllabus and exam objectives, our practice Q&A are designed to help you identify key topics and solidify your understanding. By focusing on the core curriculum, These Questions & Answers helps you cover all the essential topics, ensuring you're well-prepared for every section of the exam. Each question comes with a detailed explanation, offering valuable insights and helping you to learn from your mistakes. Whether you're looking to assess your progress or dive deeper into complex topics, our updated Q&A will provide the support you need to confidently approach the CIMAPRO19-P03-1 exam and achieve success.

The questions for CIMAPRO19-P03-1 were last updated on Apr 21, 2026.

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Question No. 1

C is a large international supermarket chain. It has many thousands of suppliers and many thousands of potential suppliers competing for shelf space m its supermarkets.

Which of the following provisions would be appropriate for C to include m its ethical code in relation to its suppliers?

Select ALL that apply

AC shall insist on an exclusivity agreement with each supplier so that identical products are not available from other outlets

BC shall endeavour to adhere to the terms of its contracts with its suppliers at all times

CCshall continuously remind suppliers that it always has several alternative suppliers to choose from.

DC shall not use its buying power unscrupulously.

EC shall keep confidential all information received from suppliers and potential suppliers

FC shall endeavour to take as high a percentage of each supplier's output as possible

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Correct Answer: B, D, E

Question No. 2

Which of the following statements concerning the role ofa non-executivedirector (NED) is correct?

AIndividual NEDs should be on at least five boards if possible so as to give them wide experience.

BNEDs are not responsible for determiningexecutive directors' remuneration.

CNEDs should satisfy themselves on the integrity of financial information and should develop the control systems to ensure that integrity is maintained.

DNEDs have a key role in removing executive directors.

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Correct Answer: D

Question No. 3

When a new computer system is being implemented there are several possible methods for managing the changeover from the old systemtothe new system.

WhichTHREE of the following are true?

APhased changeover is the safest and slowest method of changeover.

BPhased changeover moves individual portions of the business to the new system one at a time.

CPilot changeover moves the simplest part of the business to the new system first.

DParallel running involves keeping the old system running, normally until certain data retention criteria are met or confidence is gained, while the new system deals with the new workload. Data input is usually carried out on both systems.

EDirect changeover, or Big Bang is only usedwhen the systems are significantly different such that comparing the outputs of the two systems is largely irrelevant.

FAll methods of changeover carry high risk and it is the preparation, consideration of data compatibilityand data cleansing before the changeover which has the biggest impact on the smoothness of the transition.

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Correct Answer: B, D, F

Question No. 4

M plc is an IT company thatbids for large contracts to sell computer systems and also to serviceexisting systems. M plc's senior management hasalwayssetbudgets which are hard to achieve andhavemade no allowances for the recession.

The economy has improved andM plc's senior managershave made the budget even more optimistic. The budgetedsalestargethas been increased by 40%.

In the past,sales staffhave not tried to achievethe budgetsales because itwas generallybelieved that the targets wereimpossible to reach.

M plc has recently appointed a new Sales Directorwhohas decided that sales staff will bedismissedif they fail to meet sales targets for three successive months. He is also looking forhighersalesmargins than wereachievedbefore.

What are the likely consequences ofthe new Sales Director'spolicy?

ASales staff will be happier in their jobs.

BSales staff will tender for riskier contracts.

CSales staff will encroach on other sales staff territories to get more work.

DSales staff will look for new jobs.

ESales staff will feel more settled and secure in their jobs.

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Correct Answer: B, C, D

Question No. 5

The management of U isreviewing internal controls throughout the company. Ithasnoted the following:-

1. In the trade receivables section, journal adjustments are made by the clerks, without any reference to their supervisor. Journal adjustments may relate to sales returns, discounts allowed, or transfers between accounts.

2. In the purchasing department, the purchasing manager selects and approves all suppliers, astheyarethe only person with sufficient experience to do so. They usea very limited number of suppliers becausethey can rely on these suppliers to provide goods of the quality required at a competitive price. They donot 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?

AThe fact that the purchasing manager uses a very small number of suppliers is, in itself, a sign of poor internal controls.

BIt 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.

CIt is acceptable for clerks in the trade receivable section to make journal adjustments without authorisation, provided they have no access to cash receipts.

DThe 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.

EClerks making journal adjustments without reference to their supervisor is evidence of inadequate separation of duties.

FThe 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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Correct Answer: E, F

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