CIMA Exam CIMAPRO19-P03-1 Topic 5 Question 61 Discussion

Actual exam question for CIMA's CIMAPRO19-P03-1 exam

Question #: 61
Topic #: 5

[All CIMAPRO19-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 Franklyn at Feb 12, 2024, 02:54 AM

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Nu

1 months ago

I vote for A and B. Penalize everyone for any risk, and then eliminate all risk entirely. Problem solved! What could possibly go wrong?

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Junita

2 days ago

That's a bit extreme. Penalizing everyone for any risk and trying to eliminate all risk may not be practical.

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Loren

1 months ago

D and E for sure. Anything else is just asking for trouble. Except maybe B - that could be hilarious if someone actually tried it.

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An

5 days ago

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

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Glen

7 days ago

I agree, D and E are essential for effective risk management.

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Emiko

1 months ago

B is clearly the right answer. If we eliminate all risk, we'll never have any problems! What could possibly go wrong with that approach?

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I'm going with C and F. The directors should take an active interest, and responsibility should be delegated to a risk manager. Trying to make everyone responsible for risk is just going to lead to confusion.

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Emerson

15 days ago

It's important for everyone to be aware of risks, but having a designated risk manager is key.

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Yaeko

16 days ago

Definitely, the directors need to be involved in risk management.

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Lynda

1 months ago

I agree, having a risk manager in charge makes sense.

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Eric

2 months ago

I think the correct answer is D and E. All staff should be aware of risks, and risk management should be part of the overall business strategy. Penalizing staff for negative events is just going to make them hide problems, and eliminating all risk is impossible.

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Dorothy

10 days ago

Directors should definitely take an active interest in risk management to set the tone for the organization.

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Luisa

17 days ago

I think penalizing staff for negative events is not the way to go. It will just create a culture of fear.

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Reid

1 months ago

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

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Giovanna

2 months ago

Yes, and risk management should be regarded as part of the overall business strategy.

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Whitley

2 months ago

I agree. I believe all staff should be aware of risks affecting the entity.

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Giovanna

2 months ago

I think an effective risk management culture is important for a company.

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CIMA Exam CIMAPRO19-P03-1 Topic 5 Question 61 Discussion

Contribute your Thoughts:

Nu

Junita

Loren

An

Glen

Emiko

Paz

Emerson

Yaeko

Lynda

Eric

Dorothy

Luisa

Reid

Giovanna

Whitley

Giovanna