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Question 8

Under the COSO Enterprise Risk Management Framework, who is responsible for risk management?

Options:

A.

Every member of the entity.

B.

The board of directors only.

C.

Managers and directors only.

D.

The shareholders.

Question 9

CW is a large company in the food production industry. It has grown over the years by the acquisition of several smaller rivals CW has ten branches located in its home country and has just opened a foreign branch for the first time It has recently made some changes to the structure and implementation of its control system.

Which TWO of the following changes would be most likely to improve the overall control system?

Options:

A.

CW has just opened a bank account in the currency in which the newly opened branch is now operating

B.

Establishing an internal audit department

C.

Excess funds are now invested, by the finance director, in short-term securities The finance director initiates buy and sell transactions and she also receives and retains all correspondence relating to the investments

D.

Purchase invoices are now approved for payment at branches and a list of approved invoices are sent to head office for payment The invoices, supporting documentation and suppliers' statements are retained at the branches

E.

A policy has been initiated to complete a physical inventory of all non-current assets at least annually This is then reconciled with the non-current asset register

Question 10

The long-term prospects for interest rates in the UK and the USA are 2% and 6% per annum respectively.

The GBP/USD spot rate is currently GBP/USD1.71.

Using interest rate parity theory, what GBP/USD spot rate would you expect to see in six months' time?

Options:

A.

GBP/USD = 1.74

B.

GBP/USD = 1.78

C.

GBP/USD = 1.65

D.

GBP/USD = 1.67

Question 11

The shares of a company have a beta factor of 1.15. Therefore, which of the following must be true?

Options:

A.

The shares have more unsystematic risk than the stock market average.

B.

The shares have more systematic risk than the stock market average.

C.

The shares have more total risk than the stock market average.

D.

The shares have less unsystematic risk than the stock market average.

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Exam Code: P3
Exam Name: Risk Management
Last Update: Dec 26, 2024
Questions: 339
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