Free CIMA CIMAPRO19-P03-1-ENG Exam Questions

Become CIMA Certified with updated CIMAPRO19-P03-1-ENG exam questions and correct answers

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Total 278 Questions | Updated On: Dec 22, 2020

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Question 1

Which method of quantifying risk exposure can be used to calculate the maximum loss on a portfolio occurring within a period of time with a given probability?

A : lue at Risk

B : gression analysis

C : mulation

D : pected value

Answer: D

Question 2

The acronym VPN stands for.

A : rified Private Network

B : rtual Private Network

C : ry Personal Network

D : rtual Personal Network

Answer: B

Question 3

B, a construction company, has a policy of carrying out a post completion audit on every construction project undertaken where the value exceeds $1 million.

What is the role of the post completion audit?

A : reward staff and celebrate success.

B : signify the end of the project.

C : highlight what can be done to improve similar future projects.

D : apportion blame for things not done well.

Answer: C

Question 4

Company M has lost 25% of its revenue in the last three months due to bad debts. One of thereceivables written offwasfroma long standing customer and the other three werefromnew customers. The management accountant has warned the sales team that the company cannot survive any more substantial bad debts.

Which of the following internal controls should be put in place to try and prevent further bad debts?

A : credit check should be carried out on each new customer.

B : edit limits should be set for all customers. However, if the credit limit will cost a sale then sales staff can override this limit.

C : o sales staff must authorise new customers and sign a form stating that they have done so.

D : aged analysis of customer balances must be reviewed every month.

E : soon as a customer payment is overdue they should not be allowed to purchase more until their balance has been reduced.

Answer: A,D

Question 5

Which of the following statements best explains why a corporate treasury department should be established as a cost centre rather than a profit centre?

A : Treasury Department should not be encouraged to speculate.

B : Treasurer should not have a great deal of responsibility.

C : ere is no way for the Treasury Department to generate revenue.

D : Treasurer has the ability to manipulate the Department's reported profit.

Answer: A

Page: 1 / 56

Total 278 Questions | Updated On: Dec 22, 2020

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