P3試験無料問題集「CIMA Risk Management 認定」

出題：1

UJK manufactures garden machinery. The company is dependent upon another manufacturer for the motors that power its products.
One of the factors that is being considered in a stress test requested by UJK's Board is the possibility that the motor manufacturer increases its selling prices by 10% The motor accounts for a significant proportion of the overall manufacturing cost of UJK's products Which of the following are correct?

A. The motor manufacturer should be contacted and told that a substantial increase in selling prices would have a drastic impact on UJK

B. UJK should estimate the impact on demand of increasing selling prices to pass on the increased cost of the motors.

C. The possibility of an increase in selling prices due to increased costs should be noted in the stress test report

D. The impact of absorbing the increased cost of motors on UJK's profits should be calculated.

E. UJK should identify an alternative vendor of suitable motors as part of its stress test

正解：B,D 解答を投票する

出題：2

Select the most appropriate level of responsibility for managing each of the following risks.

正解：

出題：3

DFG's home currency is the D$.
DFG is heavily exposed to the exchange rate between the D$ and the L$, country L's currency. DFG's treasurer has noted the following:
* Inflation has been running at 5% in DFG's home country and 8% in country L
* Interest rates are 7% in DFG's home country and 11% in country L
* The spot rate is D$1.0000 = L$2.1000 and the three month forward rate is D$1.0 = L$2.1196 Which of the following statements is consistent with these figures?

A. Interest rates are expected to continue unchanged, but country L's inflation rate will increase in proportion to the inflation rate in DFG's home country.

B. Country L's interest rate is expected to decline relative to that of DFG's home country and inflation rates are expected to continue unchanged.

C. Country L's interest rate is expected to increase relative to that of DFG's home country and inflation rates are expected to continue unchanged.

D. Interest rates are expected to continue unchanged, but country L's inflation rate will decrease in proportion to the inflation rate in DFG's home country.

正解：A 解答を投票する

出題：4

JKL makes large export sales to customers in country X, whose currency fluctuates significantly against JKL's home currency JKL also makes large purchases from suppliers in countrrOC All of these transactions are in country X's currency JKL's treasurer does not actively hedge currency risks because there is a natural hedge in place due to the company making both sales and purchases in the same currency JKL's board has instructed the treasurer to put active hedging measures in place because the risk report would otherwise have to disclose the fact that JKL has a currency risk which is not actively hedged Which of the following statements are correct? Select ALL that apply.

A. Risk reports can change behaviour

B. Risk reporting is a bad thing

C. The board may be concerned it will be criticised if it does not hedge

D. The board does not want to be blamed for ignoring a risk.

E. Risk reporting drives the whole risk management process

正解：A,C,D 解答を投票する

出題：5

A company has a sound system of internal controls that have been reviewed by the internal audit department.
Which TWO of the following correctly identify reasons why the company's control system might fail to prevent or detect an irregularity?

A. A dishonest member of staff could input an invalid transaction

B. The accounting system could combine manual and computerised controls.

C. A director could override a control procedure.

D. The internal audit department cannot be expected to identify control weaknesses.

E. Two fraudulent members of staff could collude.

正解：C,E 解答を投票する

出題：6

K has several subsidiary companies. The directors of K's subsidiaries are paid an annual bonus based upon their particular subsidiary's reported profits.
The directors of one of K's subsidiaries are considering the choice between two models of a machine.
Which of the following is most likely to explain the decision to choose model X over model Y?

A. Model X is the less risky investment.

B. Model X has a better combination of investment and running costs.

C. Investing in model X will lead to a higher share price.

D. Investing in model X will mean the subsidiary will show a higher profit.

正解：D 解答を投票する

出題：7

S is a senior production manager for LK, which is about to set up a new production line requiring S4 million of new specialist equipment.
S's daughter goes to school and is friends with the daughter of R. the sales manager in GG. GG is a potential supplier of the specialist equipment that LK requires.
R owns a holiday home. S's daughter regularly accompanies R's daughter on family vacations at this holiday home, all at R's expense.
S is the only person working for LK who is qualified to select the specialist equipment. GG will definitely bid for the sale.
What should S do?

A. S should declare an interest and withdraw from the assessment process.

B. S should exclude GG from the bidding process.

C. S should permit GG to bid, but should insist that R should not be involved.

D. S should declare an interest, giving details of his daughter's friendship with R's daughter, but should participate fully in the assessment process

正解：D 解答を投票する

出題：8

Which THREE of the following form part of the role of Internal Audit?

A. Providing training to operational management on the identification of risk

B. Working with operational management teams to help identify risks to the business.

C. Monitoring the effectiveness of controls implemented by operational management

D. Working with operational management teams to devise new controls to help minimise risk to the business.

E. Carrying out special investigations of risk.

F. Implementing internal controls which address the key business risks identified by the risk management team

正解：A,B,C 解答を投票する

出題：9

Rio owns an architects business which employs 12 skilled architects and four administrative staff.
The Office Manager has just attended a workshop on internal controls and the way in which they can improve organisations. He intends to implement some internal controls as soon as possible.
What are the limitations of an internal control system in Rio's business?

A. If Rio does not support the internal control system then the controls may not be adhered to.

B. Internal controls may slow down the speed with which the architects can respond to enquiries.

C. Employees could ignore the internal controls.

D. Internal controls will usually mean hiring more staff.

E. Internal controls are only suitable for large businesses.

正解：A,B,C 解答を投票する

出題：10

H is a departmental manager in a private college. The main measure of performance used to assess the Department Manager's effectiveness is meeting the college budgets. The budget for each year is based on the actual expenditure of the previous year adjusted for specific one-off items.
Which of the following would arise from using the meeting of this type of budget as a performance measurement?

A. Management taking more than the optimal number of students into their department.

B. Managers taking on new projects that have too much risk attached to them.

C. Cost overruns because managers might fail to meet their budgets.

D. Managers engaging in unnecessary spending in order to avoid having their budgets reduced the following year.

E. Management of various departments not cooperating sufficiently with each other because each is very concerned that to do so would incur extra costs against their budgets.

F. Management refusing to provide some necessary service to students (for example, extra tutorials) because it would cause their budget not to be met.

正解：D,E,F 解答を投票する

出題：11

JHU has recently completed an eight year project. The project was evaluated at a discount rate of 10% and was accepted because the net present value was $18 million.
In year 3 of the project there was a significant unexpected repair arising because of the implementation stage of the project was rushed and some checks on equipment were skipped to save time. The cost of this was $8 million.
In year 8 of the project the costs of dismantling the project were $11 million more than anticipated because of unexpected changes to the law concerning disposal of industrial scrap.
How should these findings be reflected in the post completion audit?

A. Poor project management cost the entity $11 million, to the nearest million.

B. Poor project management cost the entity $16 million, to the nearest million.

C. Poor project management cost the entity $6 million, to the nearest million.

D. Poor project management cost the entity $5 million, to the nearest million.

正解：C 解答を投票する

出題：12

C is an accounts clerKwho is supposed to sign each invoice as evidence that she has conducted checks against supporting documents Sometimes C signs invoices without making these checks D is a member of the internal audit team He has been told to conduct compliance tests on whether C is checking the invoices property Which of the following would grve D a false sense of assurance that C's checks have been in operation?
Select ALL that appry

A. D reviewed a sample of invoices for purchases of plant and equipment and found that C had not signed them C explained that she believed that those were authonsed by someone else although the accounts manual indicates that it was her responsibility

B. asked C a series of open-ended questions about the operation of the purchases system She did not mention anything about detailed checks of invoices against documents

C. D worked at a spare desk in the accounts department and quietly watched C without telling her She checked every invoice carefully while D was present

D. D examined a sample of invoices to make sure that they had been signed by C AH had been signed selected a sample of purchase invoices and compared each to the supporting documents that C is supposed to review Every one of D's invoices was supported by the related documents

正解：B,C,D 解答を投票する

出題：13

Achieving the budget is often used as a good performance measure. However, there are problems with budgets which may mean they are not always good measures of performance.
Which TWO of the following statements about budgets suggest that they should not always be used to measure performance?

A. Budgets may deliberately be set too low by managers so they are easily achieved and make the manager look good.

B. Budgets can be used to motivate staff if they are set correctly.

C. Budgets can give people goals to achieve and if everyone strives to achieve these goals the whole organisation will benefit.

D. Budgets are a commitment. They therefore act as a constraint on doing anything different.

正解：A,D 解答を投票する

出題：14

You are the Management Accountant for P, a food manufacturing company with an annual sales revenue of $5 million.
You discover that the Production Manager's records are inconsistent. Raw materials purchased do not agree to the total recorded for transfers to production plus wastage. There is an average shortfall of 2% of purchases.
You investigated and discovered that there are often mistakes made during manufacturing that results in food that is safe to eat, but cannot be sold because of visual flaws. The Production Manager is supposed to scrap all such damaged product and write all such losses off as waste, but you discovered that he has been giving the damaged food to a charity that assists homeless people. No records are made of such gifts in order to conceal the losses due to manufacturing errors.
What should you do?

A. Instigate a review of the production process to potentially reduce the amount of wastage.

B. Instigate a confidential, but documented, review with the Production Manager and tell him to stop.

C. Instigate a process whereby edible but unsellable items can be given to the charity officially.

D. Do nothing, this is a good cause and the amount is insignificant.

E. Instigate disciplinary action, this is both theft and poor management.

正解：A,B,C 解答を投票する

出題：15

You are the management accountant for YY a food manufacturing company with an annual sales revenue of
$6 million
You discover that the production manager's records are inconsistent Raw materials purchased do not agree with the total recorded for transfers to production plus wastage There is an average shortfall of 2% of purchases You have investigated and discovered that there are often errors made during manufacturing that results in food that is safe to eat but. because of visual flaws, cannot be sold The production manager is supposed to scrap all such damaged products and write all such losses off as waste You have discovered however that he has been giving the damaged food to a charity that assists homeless people No records are made of such gifts in order to conceal the losses due to manufacturing errors Which of the following actions should you take? Select ALL that apply

A. Instigate a review of the production process to potentially reduce the amount of wastage.

B. Instigate disciplinary action this is both theft and poor management

C. Instigate a confidential but documented review with the production manager and tell him to stop

D. Instigate a process whereby edible but unsellable items can be given to the charity officially

E. Do nothing; this is a good cause and the amount is insignificant

正解：A,B,D 解答を投票する

出題：16

H is a farmer. An outbreak of a contagious animal disease has just been detected near the region where the farm is located. This could potentially lead to substantial financial losses for H.
In these circumstances, which of the following responses by H is the most appropriate?

A. Reduce the risk by strict adherence to all government imposed animal movement restrictions, by the appropriate use of disinfectants and by similiar precautions.

B. Transfer the risk by taking out a substantial level of insurance cover.

C. Avoid the risk by the immediate cessation of all animal farming activities and the sale or disposal of all animals currently held on the farm.

D. Accept the risk and carry on as previously.

正解：A 解答を投票する

出題：17

XYZ is a large supermarket chain which has engaged in online shopping and home delivenes It has a 24/7 service which runs on a central server allowing its customers to input orders at any time XYZ runs a card loyalty scheme which is hosted on the central server All transactions, whether shop based or on-line, create an update on the central database on the central server Which THREE of the following types of Personally Identifiable Information (Pll) will XYZ have to hold for its customers?

正解：A,B,D 解答を投票する

出題：18

TDC is a company which runs gas-fired power stations in western Europe. The Risk Committee has just received a report that a power station built to the same design and specification in a developing country has recently collapsed. The causes of the collapse are unclear but the consequences for TDC would be catastrophic if something similar were to happen in Europe Which of the following actions being considered by the Risk Committee are ethical?
Select ALL that apply

A. Commission a reputable firm of structural engineers to carry out a review of all power stations owned by TDC

B. Decide that the information available to date is too uncertain to take any action for now

C. Draw up contingency plans in case some of TDC's power stations need to be shut down

D. Send experts employed by TDC to the site of the collapse so that they can gather information first hand on what happened

E. Attempt to increase the level of insurance cover against this type of eventuality

F. Issue a press release confirming that all TDC's power stations are "entirely safe'.

正解：A,C,D 解答を投票する

出題：19

Which of the following statements are correct?

A. It is always possible to remove all risks when undertaking large projects.

B. Risk can always be transferred to someone else.

C. Risk should be carefully considered when evaluating possible future projects.

D. If a project has low risks it will usually have relatively low returns.

E. If a project has high risks it should always be accepted as the rewards will always be high.

正解：C,D 解答を投票する

出題：20

Multinational companies have a variety of methods by which to manage currency risk.
Select ALL internal hedging methods from the following list.

正解：A,B,C,D 解答を投票する