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CIMA P3 · Risk Management

Everything you need to pass CIMA P3.

Covers enterprise risk, strategic risk, internal controls and cyber risk. £149 on its own, or all four Strategic subjects for £399, with lifetime access. P3 is on demand, so you book it when you are ready.

Buy P3 · £149See the Strategic Level Pass Pack
Modern tuition Real mock exams Feedback on every mock
  • 60 questions
  • 90 minutes
  • On demand book it when you are ready
  • £149 on its own, lifetime access

A word from your tutor

Peter Woolley, VIVA’s Risk Management specialist

Peter Woolley, VIVA tutor
Risk Management

P3 is risk and control, and it is the paper where judgement starts to carry real weight. There is technical content, but the marks increasingly come from knowing which risk actually matters and being able to say why.

We build that with a lot of scenario practice and mocks with an explanation for every question, which show you where your judgement diverged from the examiner's. That is far more useful than a score on its own.

It is on-demand, so sit it the moment your mocks say you are ready.

Peter Woolley Risk Management tutor

The syllabus

What P3 covers.

P3 Risk Management equips you to identify, assess and manage risk at a strategic level. You'll study enterprise risk, strategic risk, internal controls and cyber risk, and how to build resilience into an organisation's risk appetite and controls.

  • Enterprise risk: types of risk and risk management frameworks (COSO, ISO 31000)
  • Strategic risk: risk in strategy, governance and board-level oversight
  • Internal controls: design, operation and the control environment
  • Internal audit and assurance over controls
  • Cyber risk: threats, cyber security processes and reporting
  • Risk appetite and board-level risk reporting

The course, section by section

7 sections · 58 lessons · 9h 14m of video

  1. 01 Preparing for Objective Test exams 1 module5 lessons44m of video
    1. Objective Test success 5 lessons 44m
      1. Introduction 2m
      2. Background of Objective Tests 10m
      3. Format of Objective Test exams 9m
      4. Exam preparation 9m
      5. Exam day approach 14m
  2. 02 P3 Subject overview 1 module7 lessons1h 18m of video
    1. P3 overview videos 7 lessons 1h 18m
      1. P3 overview - introduction 11m
      2. P3 overview - enterprise risk - part 1 15m
      3. P3 overview - enterprise risk - part 2 13m
      4. P3 overview - strategic risk 4m
      5. P3 overview - internal controls - part 1 12m
      6. P3 overview - internal controls - part 2 12m
      7. P3 overview - cyber risk 11m
  3. 03 A. Enterprise risk 2 modules8 lessons1h 22m of video
    1. Risk and risk exposure 4 lessons 36m
      1. Nature and categories of risk 9m
      2. Strategic and operational risk 10m
      3. International business risk 5m
      4. Understanding and assessing the scale of risk 12m
    2. Managing risks 4 lessons 46m
      1. Approach to risk 12m
      2. Risk tolerance, appetite and capacity and the TARA model 12m
      3. Frameworks for risk management 9m
      4. Assurance mapping and ethical risks 13m
  4. 04 B. Strategic risk 2 modules10 lessons1h 40m of video
    1. Strategy, reputation and risk 4 lessons 42m
      1. Introducing strategy and risk 8m
      2. Positioning and strategic choice 12m
      3. Evaluation, scenario planning and stress testing 15m
      4. Ethics and reputational risk 7m
    2. Governance risk 6 lessons 58m
      1. Corporate governance 11m
      2. The agency problem 7m
      3. Principles v rules based governance 8m
      4. The board of directors 12m
      5. Board sub-committees and director remuneration 11m
      6. Failures of governance and the US and UK codes 9m
  5. 05 C. Internal controls 3 modules16 lessons2h 20m of video
    1. Internal control systems 6 lessons 55m
      1. The purpose and features of internal controls 9m
      2. Supporting internal controls with org. structure and ethics 10m
      3. The responsibility of senior leadership 3m
      4. Performance and appraisal 12m
      5. Non-financial performance measures 12m
      6. Quality and project control 9m
    2. Risk management and internal control 4 lessons 40m
      1. Types of internal control and control activities 6m
      2. Limitations of internal controls and dysfunctional behaviour 10m
      3. Information as a form of control 14m
      4. Data protection and big data 10m
    3. Internal audit 6 lessons 45m
      1. Introduction to internal audit 6m
      2. Types of audit - part 1 9m
      3. Types of audit - part 2 9m
      4. Carrying out internal audit - part 1 7m
      5. Carrying out internal audit - part 2 8m
      6. Auditing in an IT environment and reviewing IA 6m
  6. 06 D. Cyber risk 3 modules12 lessons1h 50m of video
    1. Cybersecurity threats 4 lessons 38m
      1. Cybersecurity threats and objectives 8m
      2. Cybersecurity characteristics of organisations 7m
      3. Cybersecurity risks 12m
      4. Web application attacks and hacking 11m
    2. Cybersecurity processes 5 lessons 48m
      1. Cybersecurity governance procedures 10m
      2. Cybersecurity controls - part 1 13m
      3. Cybersecurity controls - part 2 8m
      4. Centralised management of cybersecurity 11m
      5. Centralised monitoring of cybersecurity 6m
    3. Cybersecurity tools, techniques and reporting 3 lessons 24m
      1. Cybersecurity tools and techniques - part 1 9m
      2. Cybersecurity tools and techniques - part 2 8m
      3. Cyber risk reporting frameworks 7m
  7. 07 Mock exams 3 full mocks, then more on demand
    • Mock Mock 1 60 questions in 90 minutes, marked instantly
    • Mock Mock 2 60 questions in 90 minutes, marked instantly
    • Mock Mock 3 60 questions in 90 minutes, marked instantly
    • Mock More mocks on demand A new paper from the question bank whenever you want one, up to 5 a day

Modern tuition

Expert video, with a tutor in every lesson.

Built and taught by people who have lectured this material for years, with an AI Tutor sitting inside each lesson to answer the question you have right now.

  • Experts Former Kaplan and BPP lecturers and academics from major UK universities.
  • AI Tutor Ask a question inside the lesson and get an answer grounded in that lesson.
  • Pick up where you left off Your progress is saved lesson by lesson, so you always come back to the right place.

Real mock exams

Sit P3 before you sit P3.

Full timed mocks in the real format: 60 questions in 90 minutes, drawn from a large question bank, in an exam-style interface.

  • The real format Same question count, same clock, same kind of interface.
  • From a bank, not a booklet Three mocks to start, then a new one whenever you want it, each assembled from a large question bank rather than a fixed paper.
  • Timed The clock runs. Pacing is half the exam.

Feedback on every mock

Know which topics have landed.

A mock does not stop at a percentage. Every question comes back with an explanation, grouped by syllabus section, so you can see what to go back to.

  • Marked instantly No waiting, no tutor queue.
  • An explanation for every question Right or wrong, you see why.
  • Grouped by section So a weak section is obvious, not buried in a score.

The Strategic Level

P3 is one of the three Objective Tests on the CIMA Strategic Level, with E3 and F3. CIMA lets you sit them in any order, and the SCS once all three are passed.

See the full Strategic route →
  1. E3 Strategic Management
  2. P3 Risk Management You are here
  3. F3 Financial Strategy
  4. SCS Strategic Case Study

Personalised CIMA pack

Finish CIMA from £349 a level, with lifetime access as standard.

Tell us which CIMA subjects you have already passed, or are exempt from taking. We have pre-ticked everything CIMA requires before P3 - adjust it if that is not you.

Step 1 of 2

First, what have you already passed?

Tick what you've passed or been exempted from - we'll only show what's left.

Operational Level
Management Level
Strategic Level

Exempt from a whole level through your degree? Use Tick all on that level.

Questions

The things students ask before buying.

What does the P3 course include?

Expert-led video lessons across the whole syllabus with an AI Tutor in every lesson, and full timed mock exams online (60 questions, 90 minutes, drawn from a large question bank): 3 to start and a new one whenever you want it, each marked instantly with an explanation for every question. £149, lifetime access.

How is P3 examined?

60 objective test questions in 90 minutes. It is on demand, so you book it when you are ready rather than waiting for a window.

Do I need to pass P3 before the other Strategic Objective Tests?

No. CIMA lets the three Strategic Objective Tests be sat in any order. All three must be passed before the SCS.

What if I buy one subject and want more later?

You only ever pay the difference. Add subjects at any time and the price you already paid comes off the bigger pack, so you never pay twice for the same course.

How long do I have access?

Lifetime access, on every course. There is no subscription and no renewal - if you need to resit, or come back to the material years later, it is still there.

Ready for a clearer route to your P3 exam day?

Get through your exams.
Get on with your life.

Take P3 on its own, or add it to the subjects you have left.

Buy P3 · £149