Free Access CIMA.CIMAPRA19-P03-1.v2022-01-31.q79 Practice Test (Page 2)

Question 1

T has its computer facilities in a building adjacent to its headquarters Severe structural problems have been discovered with this building and T has been advised that the only option is demolition and rebuild This leaves T with strategic decisions to make about its IT provision and it has decided to investigate the outsourcing of its services Which TWO of the following factors should T consider as most important at this stage?

A.A supplier with a long history of providing outsourcing services

B.A supplier who has facilities conveniently located close to its headquarters

C.A supplier who provides a wide range of services

D.A supplier who can act as a partner in considering all its business needs

E.A supplier who can act as its agent in choosing the cheapest options

Question 2

Which of the following are objectives of the audit planning procedure?

A.To set out how audit objectives will be achieved.

B.To perform substantive tests.

C.To work out the time and resources required for the audit.

D.To perform analytical review to identify possible areas for investigation.

E.To work out how audit evidence will be obtained.

Question 3

Achieving the budget is often used as a good performance measure. However, there are problems with budgets which may mean they are not always good measures of performance.
Which TWO of the following statements about budgets suggest that they should not always be used to measure performance?

A.Budgets can give people goals to achieve and if everyone strives to achieve these goals the whole organisation will benefit.

B.Budgets may deliberately be set too low by managers so they are easily achieved and make the manager look good.

C.Budgets can be used to motivate staff if they are set correctly.

D.Budgets are a commitment. They therefore act as a constraint on doing anything different.

Question 4

Which of the following are the Committee of Sponsoring Organisations (COSO) key principles of enterprise risk management?
Select ALL that apply.

A.A comprehensive and holistic approach to risk management

B.Consideration of risk management in the context of business strategy

C.Consideration of the main risk only which is financial risk

D.The creation of a risk aware culture

E.Risk management is the responsibility of the risk committee

Question 5

Select the correct ethical principle that corresponds to each ethical dilemma described.

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Question 1

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Question 5

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