CIMAPRO19-P03-1 Exam Syllabus
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Before starting your CIMAPRO19-P03-1 exam preparation, it is recommended to review the complete CIMA P3 Risk Management exam syllabus and carefully go through the exam objectives listed below. Once you understand the exam structure and objectives, you should practice using our free CIMAPRO19-P03-1 questions. We also provide premium CIMAPRO19-P03-1 practice test, fully updated according to the latest exam objectives, to help you accurately assess your preparedness for the actual exam.
CIMAPRO19-P03-1 Exam Objectives
| Section | Objectives |
|---|---|
| P3A: Enterprise risk | 1. Analyse sources and types of risk. • Upside and downside risks • Risks arising from internal and external sources • Risks arising from international operations • Strategic and operational risks 2. Evaluate risk • Quantification of risk exposure • Risk maps 3. Discuss ways of managing risks. • Role of board and others in the organisation for identifying and managing risks • Risk mitigation including TARA – transfer, avoid, reduce, accept • Assurance mapping • Risk register • Risk reports and responses • Ethical dilemmas associated with risk management |
| P3B: Strategic risk | 1. Analyse risks associated with formulating strategy. • Analysis of strategic choice • Scenario planning • Stress-testing strategy 2. Evaluate the sources and impact of reputational risks • Risks of unethical behaviour • Impact on brand and reputation of organisation 3. Explain governance risks. • Separation of the roles of CEO and chairman • Role of non-executive directors • Roles of audit committee, remuneration committee, risk committee and nomination committee • Directors’ remuneration |
| P3C: Internal controls | 1. Analyse internal control systems. • Role of risk manager as distinct from internal auditor • Control systems in functional areas • Operational features of internal control 2. Recommend internal controls for risk management. • Governance and culture • Strategy and objective setting • Performance • Review and revision • Information, communication and reporting • Identifying and evaluating control weakness and compliance failures 3. Discuss various issues relating to internal audit in organisations. • Compliance audit, fraud investigation, value for money audit and management audit • Operation of internal audit • Assessment of audit risk • Process of analytical review • Independence, staffing and resourcing of internal audit • Preparation and interpretation of internal audit reports |
| P3D: Cyber risks | 1. Analyse cyber threats. • Malware • Application attacks • Hackers • Result of vulnerabilities including downtime, reputational loss, customer flight, legal and industry consequences 2. Review cyber security processes. • Protection, detection and response • Centralised management • Centralised monitoring 3. Discuss cyber security tools and techniques. • System level analysis, storage analysis and network analysis • Reverse engineering, decompilation and disassembly • Network discovery, vulnerability probing, exploiting vulnerabilities • Tiers of software security 4. Evaluate cyber risk reporting. • Description criteria including nature of business and operations, nature of information at risk, risk management programme objectives, cybersecurity risk governance structure etc. |
| Official Information | https://www.cimaglobal.com/Documents/Apprenticeships/P3%20-%20for%20academics.pdf |
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