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: Oct 28, 2025

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Question 1

With regard to the rote of the audit committee which of the following statements are correct? Select ALL that apply

A : audit committee should design the system of internal controls

B : audit committee should decide annually whether it needs an internal audit function

C : audit committee should decide annually whether it needs an external audit function

D : audit committee should review and monitor the effectiveness of the company's internal audit function

E : audit committee should provide arrangements for whistle blowing

F : audit committee should engage consultants to carry out business reviews

Answer: A,D

Question 2

KLtdisan on-line travel agency specialising in budget package holidays to a small number of popular locations. The holidays that it sells are made up of a 'package' of flights, hotel accommodation and food. K Ltd's Finance Director is concerned that the company'sscope of operation is too narrow and wishesto diversify.

IdentifyTWOactions that K Ltdshould take immediately.

A : t up a number of activity holidays; adventure, sports and trekking for example.

B : lk book cruise accommodation and create a special package deal for retired couples.

C : Expand the number of locations it currently serves.

D : -image the locations it currently serves to make them more exotic and family friendly.

E : view the customer base looking at feedback, repeat sales and single visit statistics.

F : gage market researchers to look at future trends in holiday requirements.

Answer: A

Question 3

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 4

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

A : work out the time and resources required for the audit.

B : perform substantive tests.

C : work out how audit evidence will be obtained.

D : perform analytical review to identify possible areas for investigation.

E : set out how audit objectives will be achieved.

Answer: A,C

Question 5

The acronym VPN stands for.

A : rified Private Network

B : rtual Private Network

C : ry Personal Network

D : rtual Personal Network

Answer: B

Page: 1 / 56

Total 278 Questions | Updated On: Oct 28, 2025

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