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CIMA CIMAPRO19-P03-1 Exam Topics

CIMA CIMAPRO19-P03-1 Exam Overview :

Exam Name: P3 Risk Management
Exam Code: CIMAPRO19-P03-1
Certifications: CIMA Professional Qualification Certification
See Expected Questions: CIMA CIMAPRO19-P03-1 Expected Questions in Actual Exam

CIMA CIMAPRO19-P03-1 Exam Topics :

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

Updates in the CIMAPRO19-P03-1 Exam Topics:

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