CIMA P3 - Strategic Management
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CIMA P3 Enterprise Strategy
Exam P3 covers both financial and non-financial risk management and strategy.
It focuses on two issues:
1. What risks does the organization face?
2. How can those risks be managed and controlled?
The exam pays particular attention to risks arising from governance,
ethical and social/environmental issues.
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Question # 1: A project has been evaluated on the basis that it will cost $14 million and
will have a net present value of $2.3 million. The project has commenced and $3 million
of the initial $14 million has been invested. A problem has been discovered that will cost
an additional $2.5 million to rectify. The $2.5 million will be payable immediately.
What is the NPV of continuing with this project?
A. $1.8 million
B. $3 million
C. $2.8 million
D. $0.2 million
Answer : C
Question # 2: HJK is a retailer, with more than 40 shops around the country. The directors
suspect that a serious fraud has occurred at one of the branches and a team of internal
auditors has been sent to investigate. An analytical review investigation shows that sales
revenue is in line with budget, but overtime payments to shop staff exceed budget by 20%.
How should the internal audit team proceed?
A. Increase the evaluation of inherent risk.
B. Conduct additional detailed testing of all figures.
C. Conduct additional detailed testing on overtime payments.
D. Increase the evaluation of control risk.