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CIMAPRA19-F03-1 Exam - Topic 5 Question 23 Discussion

Whichof the following statements about IFRS 7 Financial Instruments: Disclosures istrue?
B) IFRS 7 requires disclosures to be given for eachseparate class of financial instruments.
A) IFRS 7onlyappliestoentitiesthataredesignatedasfinancialinstitutionsbyaregulatoryauthority.
C) The main requirement of IFRS 7 is for qualitative disclosures relating to financial instruments and market risks.
D) IFRS 7 requires sensitivity analysis in relation to credit risk.

CIMAPRA19-F03-1 Exam - Topic 5 Question 23 Discussion

Actual exam question for CIMA's CIMAPRA19-F03-1 exam
Question #: 23
Topic #: 5
[All CIMAPRA19-F03-1 Questions]

Whichof the following statements about IFRS 7 Financial Instruments: Disclosures istrue?

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Suggested Answer: B

by Iluminada at May 04, 2022, 08:48 AM

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Jin
10 months ago
B is spot on, disclosures for each class are a must!
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Oretha
10 months ago
Wait, does IFRS 7 really require sensitivity analysis for credit risk?
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Dexter
11 months ago
I thought it was just about qualitative disclosures, but C seems right too.
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Alpha
11 months ago
Totally agree, B is definitely true!
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Elfriede
11 months ago
IFRS 7 applies to all entities, not just financial institutions.
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Kate
11 months ago
I'm pretty confident I know how this works. New locations and assets will inherit the changes, but existing ones won't be affected.
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Rolland
11 months ago
The key here is to focus on the concept that circular models reinforce. I think it's about the interactive nature of communication.
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Chery
11 months ago
Okay, let's see here. I'm pretty sure the answer is MPLS encapsulation, but I'll double-check the other options just to be sure.
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Bethanie
11 months ago
I practiced a similar question about resource tracking, and I'm pretty sure "measured usage" is the key term here.
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