CIMAPRO19-P03-1 Exam dumps PDF | Exam-Dumps.net (Page: 5)

QUESTION: 21

Which of the following statements concerning the role of a non-executive director (NED) is correct?

Individual NEDs should be on at least five boards if possible so as to give them wide experience.
NEDs are not responsible for determining executive directors' remuneration.
NEDs should satisfy themselves on the integrity of financial information and should develop the control systems to ensure that integrity is maintained.
NEDs have a key role in removing executive directors.

Answer(s): D

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QUESTION: 22

Which of the following statements concerning the role of the Audit Committee is correct?

The Audit Committee should provide arrangements for whistle blowing.
The Audit Committee should design the system of internal controls.
The Audit Committee should engage consultants to carry out business reviews.
The Audit Committee should review and monitor the effectiveness of the company's internal audit function.
The Audit Committee should decide annually whether it needs an internal audit function.
The Audit Committee should decide annually whether it needs an external audit function.

Answer(s): A,D,E

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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?

The use of a two level system, a primary password plus questions correctly answered from set of queries, logged at system set up time.
The use of drop down menus, using screen coordinates rather than transmitting keystrokes over a communication link.
The logging and reporting of failed password attempts.
The password should be typed quickly.
The use of family members names, known only to the individual and not known by colleagues.
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.

Answer(s): A,B,C

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QUESTION: 24

Physical access controls can greatly enhance the security of company assets. Select THREE methods by which physical access security can be significantly enhanced.

Use of CCTV cameras monitoring all access points, with security guards monitoring images and a secured system making a recording.
Use of one way mirrors, so people can be observed undetected.
Use of USB sticks and removable media should be prohibited.
Use of access control pads with numerical keys on every door, which is otherwise locked.
Personal individual ID card access, logging individual person movement through every door, which is otherwise locked.
Visitors to be logged in by security staff and to be accompanied by a member of staff at all times until they leave.

Answer(s): A,E,F

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QUESTION: 25

Company M has lost 25% of its revenue in the last three months due to bad debts. One of the receivables written off was from a long standing customer and the other three were from new customers. The management accountant has warned the sales team that the company cannot survive any more substantial bad debts.
Which of the following internal controls should be put in place to try and prevent further bad debts?

A credit check should be carried out on each new customer.
Credit limits should be set for all customers. However, if the credit limit will cost a sale then sales staff can override this limit.
Two sales staff must authorise new customers and sign a form stating that they have done so.
An aged analysis of customer balances must be reviewed every month.
As soon as a customer payment is overdue they should not be allowed to purchase more until their balance has been reduced.

Answer(s): A,D,E

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CIMA CIMAPRO19-P03-1 Exam (page: 5)
CIMA P3 Risk Management
Updated on: 24-Mar-2026

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QUESTION: 25

CIMA CIMAPRO19-P03-1 Exam (page: 5) CIMA P3 Risk Management Updated on: 24-Mar-2026

QUESTION: 21

QUESTION: 22

QUESTION: 23

QUESTION: 24

QUESTION: 25

CIMA CIMAPRO19-P03-1 Exam (page: 5)
CIMA P3 Risk Management
Updated on: 24-Mar-2026