The CIMA Risk Management certification has a strong reputation for a reason — the P3 exam tests applied skills, not memorized definitions. Candidates around the world use Actual4Exams practice questions to close knowledge gaps before test day.
CIMA P3 Exam Overview:
| Certification Vendor: | CIMA (Chartered Institute of Management Accountants) |
|---|---|
| Exam Name: | Risk Management |
| Exam Number: | P3 |
| Exam Price: | Approx £195 / $260 USD (varies by region) |
| Exam Duration: | 90 minutes |
| Passing Score: | 100 (scaled score out of 150) |
| Real Exam Qty: | 60 |
| Available Languages: | English |
| Certificate Validity Period: | 3 years |
| Related Certifications: | Strategic Level Case Study E3 Strategic Management F3 Financial Strategy |
| Exam Format: | Multiple-response, Multiple-choice, Computer-based Objective Test, Number entry, Drag-and-drop |
| Recommended Training: | CGMA Study Hub CIMA Official Study Materials |
| Exam Registration: | Pearson VUE Booking CIMA Official Registration |
| Sample Questions: |  |
| Exam Way: | Computer-based, taken at Pearson VUE authorized test centers or online proctored |
| Pre Condition: | Must complete Operational Level and Management Level exams; or hold relevant exemptions |
| Official Syllabus URL: | https://www.cimaglobal.com/Studying/Our-exams-and-assessments/Strategic-level/P3-Risk-Management/ |
CIMA P3 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: C. Internal Controls | 25% | - Control effectiveness and monitoring - Internal control reporting - Design and implementation of control systems - Roles of internal audit and risk functions |
| Topic 2: A. Enterprise Risk | 25% | - Enterprise Risk Management (ERM) principles - Sources and types of risk - Risk assessment and evaluation frameworks - Risk management strategies and responses |
| Topic 3: B. Strategic Risk | 30% | - Impact of strategy on risk profile - Reputational and compliance risks - Strategic risk identification - Risk oversight and governance |
| Topic 4: D. Cyber Risk | 20% | - Cyber risk reporting and assurance - Managing and mitigating cyber risk - Cyber threats and vulnerabilities - Cybersecurity frameworks and controls |
Common Questions About the CIMA P3 Exam
The P3 exam, officially known as CIMA Risk Management, is the CIMA test that leads to the CGMA Strategic Level certification at the Strategic / Professional level. Passing it validates the skills employers expect from a certified professional. It is also associated with related credentials such as E3 Strategic Management, F3 Financial Strategy, Strategic Level Case Study.
The P3 exam contains 60 questions, and you have 90 minutes to complete them. Work out your per-question pace before test day, and flag slow items instead of stalling on them — time pressure, not knowledge, sinks many first attempts. Timed mock exams in the Actual4Exams test engines are the most reliable way to build that rhythm.
The passing score for the P3 exam is 100 (scaled score out of 150), and the official registration fee is Approx £195 / $260 USD (varies by region). If you miss the mark, a retake means paying the full fee again, so book your seat only when you are ready. A practical benchmark: score consistently above the passing line on timed practice tests before scheduling the real exam.
Must complete Operational Level and Management Level exams; or hold relevant exemptions
Entry requirements can change, so confirm the latest conditions on the official exam page: https://www.cimaglobal.com/Studying/Our-exams-and-assessments/Strategic-level/P3-Risk-Management/.
You can book the P3 exam through the official registration channels below:
Exam delivery: Computer-based, taken at Pearson VUE authorized test centers or online proctored. Seats at popular test centers fill quickly, so schedule early once your preparation is on track.
CIMA recommends the following training options for CIMA Risk Management candidates:
Pair any course with the 287 practice questions from Actual4Exams to measure how ready you really are before paying the exam fee.
Yes. A free PDF demo of the CIMA Risk Management questions is available, so you can check the question style and answer quality before you pay. Every purchase also includes 365 days of free updates, and if the product expires you can renew the update service at a 50% discount from your member zone.
If you take the corresponding P3 exam within 60 days of purchase and do not pass, you can apply for a full refund under the 100% Money Back Guarantee: submit a scan of your enrollment slip and your official Score Report (PDF) within 2 days of the exam date, and the claim is processed within 7 days. Attempts made within 3 days of purchase, downloads without an actual exam attempt, free materials, and expired orders are not eligible, and the candidate name must match the payer name. Prefer new material instead of a refund? You can exchange your purchase for two free products of equal value and keep the update service on your original product. As for delivery, the files are available for instant download and are also emailed to you within one minute of payment — if nothing arrives within 2 hours, contact customer service. There is no limit on how many computers you can install the product on.
The official CIMA Risk Management outline is organized into 4 domains. The first three are:
- B. Strategic Risk — 30% of the exam
- D. Cyber Risk — 20% of the exam
- C. Internal Controls — 25% of the exam
See the complete exam topics section above for the full outline and the weighting of every domain.
CIMA Risk Management Sample Questions:
Question 1
Z plc has recently undertaken a SWOT analysis. The SWOT analysis identified two main threats to Z plc:
* The threat that the currency of Z plc's main overseas competitor weakens compared to Z plc's home currency.
* The threat that there will be a military coup which will overthrow the government in the country that Z plc purchases most of its raw materials from.
Which TWO of the following categories of risk correspond most closely to the above threats?
A. Political risk
B. Economic risk
C. Financial risk
D. Business risk
Question 2
L's risk register currently states the likelihood of risks m terms of their estimated percentage probabilities. The risk committee cs considering classifying risks using a three point scale high, medium and low.
Which TWO of the following are true?
A. Using percentages will be more scientific
B. High, medium, low will eliminate subjectivity
C. Quantifying probabilities as percentages gives greater scope for describing risks
D. High, medium and low will be easier to use
E. Everyone will agree the meaning of high, medium and low
Question 3
Which of the following best describes the conflict between maximising profit and maximising shareholder wealth?
A. Tax is paid on profit, but not on shareholder wealth.
B. Profits can be increased from one year to the next without increasing shareholder wealth.
C. Managers are generally more interested in maximising shareholder wealth than in maximising profits or sales.
D. Profit and shareholder wealth are unrelated.
Question 4
Which THREE of the following are true with regard to managing the changeover from an old to a new computer system?
A. Direct changeover, or big bang, is only used when the systems are significantly different such that comparing the outputs of the two systems is largely irrelevant
B. All methods of changeover carry high risk and it is the preparation consideration of data compatibility and data cleansing before the changeover which has the biggest impact on the smoothness of the transition
C. Parallel running involves keeping the old system running normally until certain data retention criteria are met or confidence is gained, while the new system deals with the new workload Data input is usually earned out on both systems
D. Pilot changeover moves the simplest part of the business to the new system first
E. Phased changeover moves individual portions of the business to the new system one at a time
F. Phased changeover is the safest and slowest method of changeover
Question 5
V buys vegetables and fruit from three farms located in a different part of V's country and sells them to large supermarket chains.
A recent newspaper magazine had an article on these farms showing that the farms employ illegal immigrants whose status was used by the factory's owners to force them to work for low wages and in unpleasant conditions. They are forced to live in small overcrowded caravans with no running water. They are also given meals which are cold and poor quality. These farms are located in a developed country with strong labour laws.
Classify each of the following statements as true or false.
Solutions:
| Question 1 Answer: A,B | Question 2 Answer: A,C | Question 3 Answer: B | Question 4 Answer: A,E,F | Question 5 Answer: Only visible for members |
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