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CIMAPRO19-P03-1 Exam - Topic 5 Question 61 Discussion

Which of the following are true of an effective risk management culture?
B) All risk should be eliminated. and C) Responsibility for risk management should be devolved to a risk manager. and E) Risk management should be regarded as part of the overall business strategy.
A) Staff should be penalised for being associated with negative events.
D) All staff should be aware of risks affecting the entity.
F) The directors should take an active interest in risk management.

CIMAPRO19-P03-1 Exam - Topic 5 Question 61 Discussion

Actual exam question for CIMA's CIMAPRO19-P03-1 exam
Question #: 61
Topic #: 5
[All CIMAPRO19-P03-1 Questions]

Which of the following are true of an effective risk management culture?

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Suggested Answer: B, C, E

by Franklyn at Feb 12, 2024, 02:54 AM

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Eliseo
10 months ago
C sounds off, risk management shouldn't just be one person's job.
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Jules
10 months ago
F is a must! Directors need to lead by example.
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Reuben
10 months ago
Wait, are we really saying all risk should be eliminated? That seems impossible!
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Scarlet
10 months ago
I disagree with A, penalizing staff isn't the way to go.
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Harley
10 months ago
D and E are definitely true!
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Karol
10 months ago
I definitely recall that risk management is part of the overall business strategy, and directors should be involved too. That seems crucial for an effective culture.
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Alana
11 months ago
I feel like we practiced a question similar to this, and I think it was emphasized that risk management should involve everyone, not just a single risk manager.
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Salena
11 months ago
I’m a bit unsure, but I think all risks can’t really be eliminated. Isn’t it more about managing them effectively?
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Raelene
11 months ago
I remember discussing how a positive risk culture encourages learning from mistakes, so I think penalizing staff for negative events is definitely not effective.
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Frederica
11 months ago
Okay, I've got this. Penalizing staff for negative events is definitely not the way to go - that would just create a culture of fear. And eliminating all risk is impossible and not the goal. I'll focus on the options that promote risk awareness and management as a strategic priority.
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Amber
11 months ago
Hmm, I'm a bit unsure about this one. There are a lot of options, and I want to make sure I understand which ones are truly indicative of a strong risk management culture. I'll need to think this through carefully.
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Tammy
11 months ago
This seems like a straightforward question on the characteristics of an effective risk management culture. I'll carefully read through the options and select the ones that align with best practices.
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Margart
11 months ago
This is a tricky one. I'm not entirely sure what the "right" answers are, but I'll try to apply my understanding of effective risk management principles to select the options that seem most aligned with that.
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Theola
11 months ago
Heuristics is definitely a key concept in user-centered design, but I'm struggling to find the right wording to capture that in this multiple-choice question.
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Sharmaine
11 months ago
Hmm, I'm a bit unsure about this one. I know business architecture modeling is important, but I'm not sure I fully grasp the details of how it's used in BPM Suite. I'll have to review my notes and try to reason through the options.
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Nu
1 year ago
I vote for A and B. Penalize everyone for any risk, and then eliminate all risk entirely. Problem solved! What could possibly go wrong?
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Johana
1 year ago
It's about finding a balance between managing risks effectively and not being too harsh on staff. It's a team effort.
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Leatha
1 year ago
I think the directors should definitely take an active interest in risk management to set the tone for the organization.
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Belen
1 year ago
I agree. It's important for all staff to be aware of risks and for risk management to be part of the overall business strategy.
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Junita
1 year ago
That's a bit extreme. Penalizing everyone for any risk and trying to eliminate all risk may not be practical.
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Loren
1 year ago
D and E for sure. Anything else is just asking for trouble. Except maybe B - that could be hilarious if someone actually tried it.
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Thea
1 year ago
I think the directors should also take an active interest in risk management to ensure its effectiveness.
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An
1 year ago
Definitely, all staff should be aware of risks and risk management should be part of the business strategy.
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Glen
1 year ago
I agree, D and E are essential for effective risk management.
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Emiko
1 year ago
B is clearly the right answer. If we eliminate all risk, we'll never have any problems! What could possibly go wrong with that approach?
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Paz
1 year ago
I'm going with C and F. The directors should take an active interest, and responsibility should be delegated to a risk manager. Trying to make everyone responsible for risk is just going to lead to confusion.
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Emerson
1 year ago
It's important for everyone to be aware of risks, but having a designated risk manager is key.
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Yaeko
1 year ago
Definitely, the directors need to be involved in risk management.
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Lynda
1 year ago
I agree, having a risk manager in charge makes sense.
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Eric
1 year ago
I think the correct answer is D and E. All staff should be aware of risks, and risk management should be part of the overall business strategy. Penalizing staff for negative events is just going to make them hide problems, and eliminating all risk is impossible.
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Dorothy
1 year ago
Directors should definitely take an active interest in risk management to set the tone for the organization.
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Luisa
1 year ago
I think penalizing staff for negative events is not the way to go. It will just create a culture of fear.
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Reid
1 year ago
I agree, staff should definitely be aware of risks and risk management should be part of the business strategy.
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Giovanna
1 year ago
Yes, and risk management should be regarded as part of the overall business strategy.
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Whitley
1 year ago
I agree. I believe all staff should be aware of risks affecting the entity.
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Giovanna
1 year ago
I think an effective risk management culture is important for a company.
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