CIMA Exam CIMAPRO19-P03-1 Topic 3 Question 73 Discussion

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

Question #: 73
Topic #: 3

HGY is a major global corporation that has decided to implement the COSO Enterprise Risk Management Framework and integrate management practices throughout the organisation

Which THREE of the following would be appropriate for HGY?

AAuthorise managers and supervisors to respond immediately to any risks that emerge

BMake risk management an element of everyone's responsibility

CRecruit a Director of Risk, who will lead risk management procedures.

DTrain staff at all levels to identify and report risks to their superiors

ECreate a risk management team that will take responsibility for identifying and mitigating risk

FIdentify risk as an element of HGY's overall strategy.

Show Suggested Answer

Suggested Answer: B, E, F

by Catherin at Jul 17, 2024, 08:18 PM

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Felice

4 months ago

Wow, just when I thought corporate jargon couldn't get any worse, they throw in the 'COSO Enterprise Risk Management Framework'. Talk about a mouthful!

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Iluminada

3 months ago

D) Train staff at all levels to identify and report risks to their superiors

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Domitila

3 months ago

B) Make risk management an element of everyone's responsibility

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Laquanda

3 months ago

A) Authorise managers and supervisors to respond immediately to any risks that emerge

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Yuonne

4 months ago

I believe having a Director of Risk, as mentioned in option C, would also be crucial for effective risk management.

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Leota

4 months ago

F is the hidden gem here. Incorporating risk as a strategic element is the sign of a truly forward-thinking company. Bravo!

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Viki

4 months ago

Ah, the old 'Director of Risk' trick. Seems like someone's been watching too many corporate dramas. C is a hard pass for me.

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Joni

4 months ago

D and E are essential. You need to empower staff at all levels to identify and report risks, and have a dedicated team to manage them.

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Carey

4 months ago

Option B is definitely the way to go. Integrating risk management into everyone's responsibilities is crucial for success.

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Bok

2 months ago

Having a Director of Risk leading the procedures could also be beneficial in ensuring a comprehensive approach to risk management.

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Ligia

2 months ago

I agree, it's important for everyone to be aware of and involved in managing risks.

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Patti

3 months ago

Option B is definitely the way to go. Integrating risk management into everyone's responsibilities is crucial for success.

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Enola

3 months ago

Having a Director of Risk could also help ensure that risk management procedures are effectively implemented.

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Felicitas

3 months ago

I agree, it's important for everyone to be aware of and involved in managing risks.

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Jettie

3 months ago

Option B is definitely the way to go. Integrating risk management into everyone's responsibilities is crucial for success.

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Huey

3 months ago

I agree, it's important for everyone to be aware of and involved in managing risks.

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Aliza

4 months ago

Option B is definitely the way to go. Integrating risk management into everyone's responsibilities is crucial for success.

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Ocie

4 months ago

I agree with Mose, those options would help integrate risk management practices throughout the organisation.

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Mose

4 months ago

I think options B, D, and E would be appropriate for HGY.

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