CIMA Exam CIMAPRA17-BA4-1 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

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Amie

3 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!

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Trinidad

3 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.

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Bonita

2 months ago

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

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Luisa

2 months ago

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

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Alita

2 months ago

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

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Gertude

2 months ago

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

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Iluminada

2 months ago

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

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Tawna

2 months ago

I think (iii) covers all the bases.

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Meaghan

3 months ago

I think (iii) covers all the bases.

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Keith

4 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.

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Ashton

3 months ago

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

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Latosha

3 months ago

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

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Oneida

3 months ago

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

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Alison

4 months ago

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

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Lajuana

4 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.

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