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CIMAPRO19-P02-1 Exam - Topic 4 Question 46 Discussion

The management of a leisure company, who are risk averse, have just approved an investment in a new amusement park. The country in which the amusement park will be located has a warm and mostly dry climate throughout the year.A number of specific risks related to this investment have been identified as follows.(1) Losses of very small amounts of revenue due to poor weather.(2) A significant financial liability may arise due to the injury of a member of the public.(3) Loss of several days of revenue due to rides being unavailable because of poor maintenance routines.(4) Income fraud as a consequence of the high levels of cash handled by employees.Using the TARA framework, which is the most appropriate way of managing each of these risks?
C) Accept risk 1; transfer risk 2; avoid risk 3; reduce risk 4
A) Transfer risk 1; accept risk 2; avoid risk 3; reduce risk 4
B) Accept risk 1; avoid risk 2; transfer risk 3; reduce risk 4
D) Reduce risk 1; transfer risk 2; avoid risk 3; accept risk 4

CIMAPRO19-P02-1 Exam - Topic 4 Question 46 Discussion

Actual exam question for CIMA's CIMAPRO19-P02-1 exam
Question #: 46
Topic #: 4
[All CIMAPRO19-P02-1 Questions]

The management of a leisure company, who are risk averse, have just approved an investment in a new amusement park. The country in which the amusement park will be located has a warm and mostly dry climate throughout the year.

A number of specific risks related to this investment have been identified as follows.

(1) Losses of very small amounts of revenue due to poor weather.

(2) A significant financial liability may arise due to the injury of a member of the public.

(3) Loss of several days of revenue due to rides being unavailable because of poor maintenance routines.

(4) Income fraud as a consequence of the high levels of cash handled by employees.

Using the TARA framework, which is the most appropriate way of managing each of these risks?

Show Suggested Answer Hide Answer
Suggested Answer: C

by Nu at May 03, 2022, 08:55 PM

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Kasandra
9 months ago
Transferring risk 2 makes sense, injuries can be costly!
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Cammy
9 months ago
Are they really going to avoid risk 2? That sounds risky!
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Alita
9 months ago
Wow, I didn’t think about income fraud being a big issue.
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Amber
9 months ago
I disagree, they should reduce all risks if possible!
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Kathryn
9 months ago
Seems like accepting risk 1 is smart, it’s minimal.
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Nickolas
10 months ago
I'm a bit confused by this question. I'm not familiar with the term "Reduced Functionality Mode." I'll have to do some research on that before I can decide on the answer.
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Eloisa
10 months ago
I'm pretty confident this is asking about the Splunk component that handles indexing and search requests, so I'll focus on those key functions.
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Leota
10 months ago
I recall something about inline mode specifically directing traffic to the outside interface when it's deemed safe. So maybe that's the correct answer.
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Audra
10 months ago
Hmm, I'm a bit unsure about this one. I know capacity planning considers resource constraints, but I'm not totally clear on how that differs from material planning. I'll have to think it through carefully.
upvoted 0 times
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