CIMA Exam CIMAPRA19-P03-1 Topic 5 Question 24 Discussion

Actual exam question for CIMA's CIMAPRA19-P03-1 exam

Question #: 24
Topic #: 5

[All CIMAPRA19-P03-1 Questions]

Which of the following are true of an effective risk management culture?

AStaff should be penalised for being associated with negative events.

BAll risk should be eliminated.

CResponsibility for risk management should be devolved to a risk manager.

DAll staff should be aware of risks affecting the entity.

ERisk management should be regarded as part of the overall business strategy.

FThe directors should take an active interest in risk management.

Show Suggested Answer

Suggested Answer: B, C, E

by Wilda at Mar 02, 2023, 12:28 PM

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Maryln

15 hours ago

Haha, devolving all responsibility to a risk manager? That's like putting the fox in charge of the henhouse. Risk management is everyone's job in an effective culture.

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Sabine

4 days ago

Penalizing staff for negative events? That's just going to create a culture of fear and cover-ups. Risk management should be about learning and improvement, not punishment.

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Virgie

7 days ago

Option B is definitely not true. Eliminating all risk is impossible and would stifle any business. A good risk culture is about managing risks, not avoiding them entirely.

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I think options D, E, and F are the most effective for a risk management culture. Staff need to be aware of risks, and risk management should be integrated into the overall business strategy with active involvement from leadership.

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Odette

5 days ago

I agree, staff awareness of risks is crucial for effective risk management.

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Stephaine

22 days ago

I believe F is also important, directors should be actively involved in risk management.

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Melodie

24 days ago

I agree, all staff should be aware of risks and risk management should be part of the business strategy.

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Toi

26 days ago

I think D and E are true.

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CIMA Exam CIMAPRA19-P03-1 Topic 5 Question 24 Discussion

Contribute your Thoughts:

Maryln

Sabine

Virgie

Donte

Odette

Stephaine

Melodie

Toi