CIMAPRA17-BA4-1 Exam - Topic 3 Question 106 Discussion

Actual exam question for CIMA's CIMAPRA17-BA4-1 exam

Question #: 106
Topic #: 3

Which of the following is correct in relation to international relations?

(i) International regulations are voluntarily entered into by commercial and professional bodies to standardize practices and procedure to make it easier to enter into international trading agreements.

(ii) International regulations which have been agreed by the professional bodies of different states are only binding on the members of those bodies or those who choose to adopt them.

(iii) International regulations may attain the force of law by being adopted by the legislatures of individual states

A(i) only

B(i) and (ii) only

C(ii) only

D(i), (ii) and (iii)

Show Suggested Answer

Suggested Answer: B

by Otis at Jan 25, 2025, 02:26 PM

Limited Time Offer

25%

Off

Get Premium CIMAPRA17-BA4-1 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Lashandra

4 months ago

(iii) is a big deal, it’s how international rules become law!

upvoted 0 times

...

Rima

5 months ago

Totally agree, (i) and (ii) make sense together!

upvoted 0 times

...

Salena

5 months ago

Wait, are you saying (i) is just voluntary? That seems off.

upvoted 0 times

...

Milly

5 months ago

I think (iii) is also true, laws can change with state adoption.

upvoted 0 times

...

Cassi

5 months ago

(ii) is correct, only binding for those who adopt them.

upvoted 0 times

...

Galen

6 months ago

I lean towards (D) because it seems like all three statements could be true in different contexts, but I'm not completely confident.

upvoted 0 times

...

Lazaro

6 months ago

I practiced a similar question where we had to identify binding agreements, and I feel like (ii) might be misleading.

upvoted 0 times

...

Tambra

6 months ago

I think (iii) is definitely correct because regulations can become law when states adopt them, but I'm a bit confused about (ii).

upvoted 0 times

...

Nieves

6 months ago

I remember discussing how international regulations can sometimes be voluntary, but I'm not sure if that applies to all cases.

upvoted 0 times

...

Willard

6 months ago

I'm feeling a bit lost on the specifics of how international regulations work. I'll need to review my notes before attempting this.

upvoted 0 times

...

Deandrea

6 months ago

(iii) seems like the key to this question. If international regulations can become legally binding, that's an important distinction.

upvoted 0 times

...

Lou

6 months ago

Okay, let me break this down step-by-step. I need to understand the nuances between the three statements.

upvoted 0 times

...

Graciela

6 months ago

Hmm, I'm a bit unsure about the difference between voluntary and binding international regulations. I'll need to think this through carefully.

upvoted 0 times

...

Thaddeus

6 months ago

This question seems straightforward, I think I can handle it.

upvoted 0 times

...

Amie

11 months ago

Option (iii) is the way to go. You know, the whole idea of international regulations reminds me of that old saying, 'herding cats.' It's like trying to get a bunch of countries to agree on anything – good luck with that!

upvoted 0 times

...

Trinidad

11 months ago

Hmm, this is a tricky one. I was going to go with (i) and (ii), but I suppose (iii) covers all the bases. Although, I have to say, the idea of international regulators as a bunch of bureaucrats in fancy suits trying to herd cats is kind of amusing.

upvoted 0 times

Bonita

10 months ago

Haha, yeah, trying to herd cats sounds like a tough job.

upvoted 0 times

...

Luisa

10 months ago

Haha, the image of bureaucrats herding cats is quite amusing!

upvoted 0 times

...

Alita

10 months ago

It's interesting to think about international regulators as bureaucrats in fancy suits.

upvoted 0 times

...

Gertude

10 months ago

I agree, international regulations can become law if adopted by individual states.

upvoted 0 times

...

Iluminada

10 months ago

I agree, international regulations can become law if adopted by individual states.

upvoted 0 times

...

Tawna

10 months ago

I think (iii) covers all the bases.

upvoted 0 times

...

Meaghan

10 months ago

I think (iii) covers all the bases.

upvoted 0 times

...

Keith

12 months ago

I was leaning towards (i) and (ii), but you're right, (iii) is the most comprehensive answer. International bodies can set standards, but they only have teeth once governments make them law.

upvoted 0 times

Ashton

11 months ago

Agreed, (i) and (ii) are important steps, but (iii) is what gives international regulations real power.

upvoted 0 times

...

Latosha

11 months ago

It's important to remember that international regulations need to be adopted by individual states to have legal force.

upvoted 0 times

...

Oneida

11 months ago

Yes, (iii) shows the full picture of how international regulations become binding.

upvoted 0 times

...

Alison

11 months ago

I was also considering (i) and (ii), but (iii) does make sense.

upvoted 0 times

...

Lajuana

12 months ago

Option (iii) seems to be the clear winner here. International regulations only become legally binding once they are adopted by individual states. The other options are too limited in their scope.

upvoted 0 times