Discuss CIMA CIMAPRA19-F03-1 Exam Topic 5 Question 23

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

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

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

AIFRS 7onlyappliestoentitiesthataredesignatedasfinancialinstitutionsbyaregulatoryauthority.

BIFRS 7 requires disclosures to be given for eachseparate class of financial instruments.

CThe main requirement of IFRS 7 is for qualitative disclosures relating to financial instruments and market risks.

DIFRS 7 requires sensitivity analysis in relation to credit risk.

Suggested Answer: B

9 comments · newest first

Jin 12 months ago

B is spot on, disclosures for each class are a must!

Oretha 1 year ago

Wait, does IFRS 7 really require sensitivity analysis for credit risk?

Dexter 1 year ago

I thought it was just about qualitative disclosures, but C seems right too.

Alpha 1 year ago

Totally agree, B is definitely true!

Elfriede 1 year ago

IFRS 7 applies to all entities, not just financial institutions.

Kate 1 year 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.

Rolland 1 year ago

The key here is to focus on the concept that circular models reinforce. I think it's about the interactive nature of communication.

Chery 1 year 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.

Bethanie 1 year ago

I practiced a similar question about resource tracking, and I'm pretty sure "measured usage" is the key term here.

Thread summary

● Consensus

Community pick: Yes strong agreement

Vote breakdown

A 2%

B 96%

C 3%

D 3%

Summary updated from 9 comments · last activity 12 months ago

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