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CIMAPRA19-P03-1 Exam - Topic 6 Question 23 Discussion

HGY is a major global corporation that has decided to implement the COSO Enterprise Risk Management Framework and integrate management practices throughout the organisationWhich THREE of the following would be appropriate for HGY?
B) Make risk management an element of everyone's responsibility and E) Create a risk management team that will take responsibility for identifying and mitigating risk and F) Identify risk as an element of HGY's overall strategy.
A) Authorise managers and supervisors to respond immediately to any risks that emerge
C) Recruit a Director of Risk, who will lead risk management procedures.
D) Train staff at all levels to identify and report risks to their superiors

CIMAPRA19-P03-1 Exam - Topic 6 Question 23 Discussion

Actual exam question for CIMA's CIMAPRA19-P03-1 exam
Question #: 23
Topic #: 6
[All CIMAPRA19-P03-1 Questions]

HGY is a major global corporation that has decided to implement the COSO Enterprise Risk Management Framework and integrate management practices throughout the organisation

Which THREE of the following would be appropriate for HGY?

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Suggested Answer: B, E, F

by Carey at Feb 06, 2023, 09:51 PM

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Rodolfo
8 months ago
E seems too narrow, risk should be everyone's job, not just a team!
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Franklyn
9 months ago
D is a must! Training is essential for spotting risks.
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Lenna
9 months ago
Wait, can a single Director really handle all that?
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Laurel
9 months ago
A sounds good too, quick responses are key!
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Nan
9 months ago
Definitely B! Everyone should be responsible for risk management.
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Natalie
9 months ago
I feel like integrating risk into the overall strategy is essential, so option F seems like a must-have. But I'm not sure about the others; they all have their merits too.
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Roxanne
9 months ago
Training staff to identify and report risks sounds familiar from our practice questions. I think option D is a solid choice because it empowers employees at all levels.
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Margot
9 months ago
I'm a bit unsure about whether recruiting a Director of Risk is necessary. It seems like it could help, but I wonder if it might create a bottleneck in decision-making.
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Krystal
10 months ago
I remember discussing how making risk management everyone's responsibility is crucial for a strong culture of risk awareness. So, I think option B is definitely one of the right choices.
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Cherelle
10 months ago
This question seems straightforward, but I want to make sure I understand the details. The key is to focus on the "Manage Applications" window and what the user prioritized there.
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Stevie
10 months ago
I'm a bit confused by the wording of the options. Can someone help me understand the difference between "prorate all periods except first and last" and "prorate first and last period"? I want to make sure I select the right choices.
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