CIMA Exam CIMAPRA19-E03-1 Topic 7 Question 70 Discussion

Actual exam question for CIMA's CIMAPRA19-E03-1 exam

Question #: 70
Topic #: 7

You are the youngest member of the senior management team and have recently been invited to become a member of the company'sBoard.

You have been sent an outline agenda ahead of your Boardinduction meeting with the Company Secretary. The first item on the agenda is the role of the Board.

Which of the following statementsis NOTthe role of the Board?

AEstablish the company's vision, mission and values.

BRelinquish responsibility for implementation of strategy to management.

CConfirm the adequacy and alignment to strategy of internal control and risk management systems.

DEstablish strategy with regard to the risk appetite of the Organization.

Show Suggested Answer

Suggested Answer: A, C

by Ceola at Jul 04, 2023, 10:55 PM

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Herminia

1 months ago

The board meeting agenda: where the fate of the company hangs in the balance, and the debate over biscuits or croissants is just as intense.

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Rasheeda

1 months ago

Vision, mission, and values? That's like the holy trinity of corporate governance. Hands off that one, board!

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Skye

3 days ago

B) Relinquish responsibility for implementation of strategy to management.

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Val

14 days ago

A) Establish the company's vision, mission and values.

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Marica

14 days ago

B) Relinquish responsibility for implementation of strategy to management.

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Rebecka

20 days ago

A) Establish the company's vision, mission and values.

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Joanna

1 months ago

Confirming the adequacy of internal controls? That's a no-brainer. Unless the board wants the company to turn into a financial dumpster fire.

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Kaitlyn

2 months ago

Establishing strategy with regard to risk appetite? That's the board's bread and butter, not something to be overlooked.

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Nikita

2 days ago

C) Confirm the adequacy and alignment to strategy of internal control and risk management systems.

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Janine

17 days ago

C) Confirm the adequacy and alignment to strategy of internal control and risk management systems.

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Latia

21 days ago

B) Relinquish responsibility for implementation of strategy to management.

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Fausto

1 months ago

B) Relinquish responsibility for implementation of strategy to management.

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Dorcas

1 months ago

A) Establish the company's vision, mission and values.

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Leatha

1 months ago

A) Establish the company's vision, mission and values.

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Penney

2 months ago

Seriously? Relinquishing responsibility to management? That's like giving the fox the keys to the henhouse!

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Theron

14 days ago

D) Establish strategy with regard to the risk appetite of the Organization.

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Earleen

18 days ago

D) Establish strategy with regard to the risk appetite of the Organization.

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Ona

20 days ago

C) Confirm the adequacy and alignment to strategy of internal control and risk management systems.

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Bernardo

27 days ago

C) Confirm the adequacy and alignment to strategy of internal control and risk management systems.

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Felicidad

1 months ago

B) Relinquish responsibility for implementation of strategy to management.

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Rozella

1 months ago

B) Relinquish responsibility for implementation of strategy to management.

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Dante

1 months ago

A) Establish the company's vision, mission and values.

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Willard

2 months ago

A) Establish the company's vision, mission and values.

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Goldie

2 months ago

I also think B is the correct answer. The Board should oversee and guide the implementation of strategy.

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Oliva

2 months ago

I agree with Barney. The Board should not just hand over responsibility for strategy implementation.

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Barney

2 months ago

I think the answer is B) Relinquish responsibility for implementation of strategy to management.

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Tamera

2 months ago

I also believe that A) Establish the company's vision, mission and values is a key role of the Board. So, B) must be the correct answer.

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Marvel

2 months ago

I agree with Dorian. The Board should be involved in setting the strategy, not just handing it off to management.

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Dorian

2 months ago

I think B) Relinquish responsibility for implementation of strategy to management is NOT the role of the Board.

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