BICSI Exam RCDDv14 Topic 2 Question 46 Discussion

Actual exam question for BICSI's RCDDv14 exam

Question #: 46
Topic #: 2

A regional finance program is impacted by a new currency regulation issued by a country in the region. The new regulation requires changes to the financial statements of that country's branches by the end of the fiscal year Failing to comply with the regulation may result in fines and/or closure of the branches. A branch general manager immediately meets with the program manager to select and secure a local fiscal expert to support the regulation as these types of resources are in high demand. There is a high risk that the changes will not be completed on time if the resource is not secured

What should the program manager do to address the risk?

ABuild a coalition with local companies that can influence the government to renegotiate the imposed deadline

BCreate fine and closure scenarios to assess the impact on the program and create a contingency plan

CGenerate a delivery incentive contract with the selected fiscal expert to ensure on-time delivery of the revised financial statements

DAssess the risk incorporate it in the program's risk management plan and meet with the steering committee

Show Suggested Answer

Suggested Answer: A

by Isidra at Jul 16, 2024, 12:39 AM

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Kristine

12 days ago

I love the idea of a 'fiscal expert' - sounds like a superhero in a business suit! Option C is the clear choice here.

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29 days ago

Hmm, I'm not sure about Option A - trying to influence the government seems risky and could backfire. Better to focus on the internal solutions.

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Danica

2 days ago

Option C could also help ensure that the changes are completed on time.

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Antonette

9 days ago

I agree, having a contingency plan in place is crucial in this situation.

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Jacquelyne

19 days ago

I think Option B is a good idea, we need to be prepared for the worst-case scenario.

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Casey

1 months ago

I agree, but I'd also add that Option D is important for getting the steering committee on board and managing the overall risk.

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Vernice

20 days ago

A) Build a coalition with local companies that can influence the government to renegotiate the imposed deadline

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2 months ago

I think the program manager should assess the risk and meet with the steering committee.

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