QUESTION: 1

The Committee of Sponsoring Organisations (COSO) outlined six key principles of Enterprise Risk Management (ERM).
Which of the following are COSO key principles?

The creation of a risk aware culture.
A comprehensive and holistic approach to risk management.
Risk management is the responsibility of the risk committee.
Consideration of risk management in the context of business strategy.
Consideration of the main risk only which is financial risk.

Answer(s): A,B,D

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QUESTION: 2

DRAG DROP (Drag and Drop is not supported)
Select the most appropriate level of responsibility for managing each of the following risks.

See Explanation section for answer.

Answer(s): A

Explanation:

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K Ltd is an 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's scope of operation is too narrow and wishes to diversify.
Identify TWO actions that K Ltd should take immediately.

Set up a number of activity holidays; adventure, sports and trekking for example.
Bulk book cruise accommodation and create a special package deal for retired couples.
Expand the number of locations it currently serves.
Re-image the locations it currently serves to make them more exotic and family friendly.
Review the customer base looking at feedback, repeat sales and single visit statistics.
Engage market researchers to look at future trends in holiday requirements.

Answer(s): E,F

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QUESTION: 4

Which of the following statements are correct?

It is always possible to remove all risks when undertaking large projects.
If a project has high risks it should always be accepted as the rewards will always be high.
If a project has low risks it will usually have relatively low returns.
Risk can always be transferred to someone else.
Risk should be carefully considered when evaluating possible future projects.

Answer(s): C,E

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Free CIMAPRA19-P03-1 Exam Braindumps (page: 1)

Pass your P3 Risk Management (Online) exam with these free Actual Questions and Answers

QUESTION: 1

QUESTION: 2

Explanation:

QUESTION: 3

QUESTION: 4