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CIMA Strategic level P3 Syllabus Exam Questions Answers

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Question 40

Some sensitive computer systems are particularly attractive to cyber criminals. Passwords may be used as one element of restricting access to legitimate users, but the password systems should be designed with great care.

Which of the following methods would enhance a password access system?

Options:

A.

The use of a two level system, a primary password plus questions correctly answered from set of queries, logged at system set up time.

B.

The use of drop down menus, using screen coordinates rather than transmitting keystrokes over a communication link.

C.

The logging and reporting of failed password attempts.

D.

The password should be typed quickly.

E.

The use of family members names, known only to the individual and not known by colleagues.

F.

The use of a sequence of passwords, using upper and lower case with numbers, easy to remember but regularly changed for example; November 11, December12, January01.

Question 41

A UK manufacturing company has simultaneously:

   • purchased a put option to sell USD 1million at an exercise price of GBP1.00 = USD1.65

   • sold a call option that grants the option holder the right to buy USD 1million at a price of GBP1.00 = USD1.61 (this option has the same maturity date as the put).

Which of the following is a valid explanation for entering into these option positions?

Options:

A.

The company expects to receive USD 1million from a customer and wishes to offset the cost of the put option by the premium on the call option.

B.

The company expects to pay USD 1million to a supplier and wishes to offset the premium from the call option against the cost of the put option.

C.

The company expects to receive USD 1million from a customer and wishes to obtain an additional benefit if the USD strengthens beyond GBP 1.00 = USD 1.61.

D.

The company expects to pay USD 1million to a supplier and wishes to obtain additional protection against the USD strengthening beyond GBP 1.00 = USD 1.65.

Question 42

Which of the following are the Committee of Sponsoring Organisations (COSO) key principles of enterprise risk management?

Select ALL that apply.

Options:

A.

Consideration of the main risk only which is financial risk

B.

The creation of a risk aware culture

C.

Risk management is the responsibility of the risk committee

D.

Consideration of risk management in the context of business strategy

E.

A comprehensive and holistic approach to risk management

Question 43

W plc is a large international supermarket chain. It has many thousands of suppliers and many thousands of others competing for "shelf space" in its supermarkets.

Which of the following would be appropriate provisions for W plc to include in its Ethical Code in relation to its suppliers?

Options:

A.

W plc shall not use its buying power unscrupulously.

B.

W plc shall endeavour to adhere to the terms of its contracts with its suppliers at all times.

C.

W plc shall keep confidential all information received from suppliers and potential suppliers.

D.

W plc shall continuously remind suppliers that it always has several alternative suppliers to choose from.

E.

W plc shall endeavour to take as high a percentage of each supplier's output as possible.

F.

W plc shall insist on an exclusivity agreement with each supplier so that identical products are not available from other outlets.

Page: 10 / 12
Exam Code: P3
Exam Name: Risk Management
Last Update: May 2, 2024
Questions: 339
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