CIMAPRO19-P03-1 Exam - Topic 7 Question 77 Discussion

Actual exam question for CIMA's CIMAPRO19-P03-1 exam

Question #: 77
Topic #: 7

TDC is a company which runs gas-fired power stations in western Europe. The Risk Committee has just received a report that a power station built to the same design and specification in a developing country has recently collapsed. The causes of the collapse are unclear but the consequences for TDC would be catastrophic if something similar were to happen in Europe

Which of the following actions being considered by the Risk Committee are ethical?

Select ALL that apply

ACommission a reputable firm of structural engineers to carry out a review of all power stations owned by TDC

BSend experts employed by TDC to the site of the collapse so that they can gather information first hand on what happened

CDraw up contingency plans in case some of TDC's power stations need to be shut down

DDecide that the information available to date is too uncertain to take any action for now

EAttempt to increase the level of insurance cover against this type of eventuality

FIssue a press release confirming that all TDC's power stations are 'entirely safe'.

Show Suggested Answer

Suggested Answer: A, B, C

by Sharen at Sep 13, 2024, 03:56 PM

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Denae

6 months ago

Issuing a press release claiming safety? That feels a bit sketchy.

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Isadora

6 months ago

Increasing insurance cover is definitely a good precaution.

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Beatriz

6 months ago

Not sure if just waiting is the best idea...

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Jacquline

7 months ago

Sending TDC experts to the site? Totally agree, that's necessary!

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Trina

7 months ago

A review by structural engineers sounds like a smart move.

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Martina

7 months ago

I feel like option F is definitely unethical. Claiming that all power stations are 'entirely safe' without proper investigation seems misleading.

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Alpha

7 months ago

I think option C makes sense too; having contingency plans is a proactive step. We practiced similar questions about risk preparedness.

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Elenore

8 months ago

I'm not sure about option D. It seems like taking no action could be seen as irresponsible, but I guess they might feel they need more information first.

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Elouise

8 months ago

I remember we discussed the importance of transparency in risk management, so I think option A is definitely ethical.

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Luke

8 months ago

I feel pretty confident about this one. The ethical path is to be proactive and transparent - get the experts in, make plans, and don't try to cover anything up. Anything less would be a breach of public trust.

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Kati

8 months ago

Hmm, I'm a bit unsure about this one. There seem to be a lot of options, and I'm not sure which ones are truly ethical. I'll need to think it through carefully.

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Pearly

8 months ago

This is a tricky one. I think the key is to focus on the ethical implications of each action and how they impact public safety and the company's responsibility.

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Emile

8 months ago

Okay, I've got a strategy. I'll start by identifying the actions that clearly prioritize public safety, like commissioning an independent review and drawing up contingency plans. Those seem like the most ethical choices.

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Stephaine

2 years ago

D? Really? That's the most unethical option of the lot! We need to take this seriously and not just wait around for something bad to happen.

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Jettie

2 years ago

E) Attempt to increase the level of insurance cover against this type of eventuality

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Emmanuel

2 years ago

C) Draw up contingency plans in case some of TDC's power stations need to be shut down

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Dorothea

2 years ago

B) Send experts employed by TDC to the site of the collapse so that they can gather information first hand on what happened

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Shoshana

2 years ago

A) Commission a reputable firm of structural engineers to carry out a review of all power stations owned by TDC

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Arlette

2 years ago

Haha, F is a classic 'bury your head in the sand' move. I bet that's what the management team wishes they could do, but ethics dictate we have to address this properly.

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Chantell

2 years ago

E) Attempt to increase the level of insurance cover against this type of eventuality

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Glory

2 years ago

C) Draw up contingency plans in case some of TDC's power stations need to be shut down

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Martina

2 years ago

B) Send experts employed by TDC to the site of the collapse so that they can gather information first hand on what happened

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Twanna

2 years ago

A) Commission a reputable firm of structural engineers to carry out a review of all power stations owned by TDC

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Kimi

2 years ago

I'm not sure about B and E. Sending experts to the collapse site and increasing insurance cover seem like good ideas too.

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Bette

2 years ago

I agree with you, Edna. A review by structural engineers and having contingency plans are important.

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Lonna

2 years ago

I agree, A, C, and E are the right moves. But I'm not sure about B - do we really want to risk sending our own people to the collapse site? Seems a bit risky.

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Josue

2 years ago

B) Send experts employed by TDC to the site of the collapse so that they can gather information first hand on what happened

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Irma

2 years ago

E) Attempt to increase the level of insurance cover against this type of eventuality

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Hana

2 years ago

C) Draw up contingency plans in case some of TDC's power stations need to be shut down

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Eleonora

2 years ago

A) Commission a reputable firm of structural engineers to carry out a review of all power stations owned by TDC

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Edna

2 years ago

I think A and C are ethical actions to take.

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Cornell

2 years ago

Options A, C, and E are definitely the ethical choices here. We need to act proactively to ensure the safety of our power stations and protect the company's interests.

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