최신 CIMA Strategic Level Case Study Exam P3 무료샘플문제:

1. James owns a small company which sometimes suffers from credit risk.
Which of the following measures should he put in place to help reduce this risk?

A) Reduce the company bank loans.
B) Look for a loan with a lower interest rate.
C) Introduce credit checks for new customers.
D) Pay suppliers' invoices quicker.

2. M is a listed company. It is hoping to invest in a risky new venture. M has a substantial amount of cash to invest in the venture. M would have found it difficult to raise new finance as it has a high level of gearing.
Which of the following statements about stakeholders' conflicting interests are true?

A) M's credit rating is likely to fall as a result of this new venture.
B) M's diversification will mean less risk for the shareholders.
C) M's shareholders would only be exposed to the systematic risk from the investment in the new venture.
D) The directors would only be exposed to the systematic risk from the investment in the new venture.

3. VBN is a multinational company that has 60 subsidiary companies that operate in 11 countries. VBN evaluates the performance of each subsidiary as an investment centre, using residual income to measure performance.
Which THREE of the following threats of dysfunctional behaviour may arise from VBN's use of residual income to measure subsidiaries' performance?

A) Subsidiary boards may actively hedge translation risks.
B) Subsidiary boards may take a short-term view to investment projects.
C) Subsidiary boards may waste time by arguing over transfer prices.
D) Subsidiary boards may waste time and incur unnecessary fees in order to recognise gains on the revaluation of property.
E) Subsidiary boards may be motivated to spend heavily on capital expenditure in order to ensure that budget allocations are maintained and even increased.

4. VBN uses a balanced scorecard to monitor the performance of its divisions.
Classify each of the following decisions taken by a division's management team as either commercially sound or dysfunctional.

5. The Committee of Sponsoring Organisations (COSO) outlined six key principles of Enterprise Risk Management (ERM).
Which of the following are COSO key principles?

A) The creation of a risk aware culture.
B) Consideration of the main risk only which is financial risk.
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.

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