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CGQP Nov 2023 Examiner Report - RM (Website)

The Examiner's Report for the November 2023 Chartered Governance Qualifying Programme indicates an overall improvement in candidate performance compared to June 2023, though the pass rate remains low. Candidates showed better competency in Section A, particularly with the case study questions, while Section B performance was mediocre, highlighting a need for deeper understanding of risk management concepts. Recommendations include focusing on emerging supply chain risks and understanding the roles of compliance and risk management functions.

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32 views3 pages

CGQP Nov 2023 Examiner Report - RM (Website)

The Examiner's Report for the November 2023 Chartered Governance Qualifying Programme indicates an overall improvement in candidate performance compared to June 2023, though the pass rate remains low. Candidates showed better competency in Section A, particularly with the case study questions, while Section B performance was mediocre, highlighting a need for deeper understanding of risk management concepts. Recommendations include focusing on emerging supply chain risks and understanding the roles of compliance and risk management functions.

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myturtle game01
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THE HONG KONG CHARTERED GOVERNANCE INSTITUTE

THE CHARTERED GOVERNANCE INSTITUTE

Chartered Governance Qualifying Programme

Risk Management

Examiner’s Report

November 2023 Examination Diet

General comments
The overall performance was an improvement on the previous diet held in June 2023, but the
pass rate level was still low.

The examination consisted of three questions selected from four in Section A, which were based
on a pre-released case study, and one question selected from two in Section B. On the whole,
performance in Section A was an improvement on the previous diet, indicating that candidates
were more competent in handling the case study questions. However, as a consequence of the
poor score for Question 2, the overall average mark in this section remained essentially
unchanged from that in June 2023. Performance in Section B was also better than in the
previous diet, although the overall average mark was still mediocre.

The examination covered a number of pertinent risk management issues, and was designed to
test candidates’ competence in applying techniques and key concepts to the case study, in
Section A, and to the scenarios, in Section B.

As in the previous diet, candidates performed better in Section A – except for Question 2 – in
which the questions were related to the longer pre-released case study text, whereas
candidates did not do quite as well in Section B, in which the questions were set out as short
independent essays unrelated to the case study.

It is recommended that candidates cover all fundamental issues relating to risk management in
their studies and learn how to apply them with examples. Moreover, candidates should pay
more attention to the updated topics in the syllabus.

1
Section A

Question 1
Just over 80% of the candidates attempted this question and the performance was satisfactory.
Candidates were able to prepare a paper for the Board meeting in the case study, assessing
compliance management, its links to risk management and compliance risk. However, a number
of candidates failed to demonstrate an adequate understanding of the roles of the compliance
function, the risk management function, the Board and the Audit Committee in relation to
compliance management. It is suggested that candidates take a closer look at the latest
standards in the syllabus.

Question 2
Approximately 75% of the candidates attempted this question, but the overall performance was
poor. Candidates failed to demonstrate an understanding of the appropriate risk trends in
relation to the case study, and most were unable to provide an assessment of the emerging risks
related to the supply chain, or to the changed invitation from the subcontractor in order to
report back to the Chair of the Audit Committee. Candidates are recommended to focus more
on the area of emerging supply chain in their studies.

Question 3
This was the least-popular question in Section A, but performance was fairly reasonable. In
general, candidates were able to prepare a report for the Board analysing how to better control
major loss events, including an analysis of crisis management, with a discussion of at least four
key stages in the development of a crisis, and business continuity. However, a number of
candidates were unable to provide an adequate overview of a risk and control self-assessment,
nor could they differentiate between such an assessment and a risk register, which clearly
presented a challenge to some candidates. It is suggested that candidates study this area in
greater depth for a better understanding of today’s working environment.

Question 4
Approximately 80% of the candidates attempted this question and performance was fairly
reasonable. For the most part, candidates were able to assess the use of risk categories to better
understand the interconnectedness of risks and how they crosscut the organisation. However,
some candidates failed to demonstrate an adequate understanding of how to decide on the most
appropriate risk categories for the organisation in the case study, or to provide at least five
relevant risk categories.

2
Section B

Question 5
Approximately 65% of the candidates chose this question in Section B and performance was
adequate. In general, candidates were able to provide a basic assessment of enterprise risk
management (ERM) and its benefits across the organisation, as well as at local business unit level,
including an overview of the three core characteristics of ERM.

Question 6
Only 35% of the candidates opted to answer this question and performance was rather
unsatisfactory. Many of the candidates failed to demonstrate a clear understanding of why the
major shareholder might be behaving in a more risk seeking way in the situation presented in
the scenario, nor could they adequately assess how risk management can be used to manage any
conflicts of interest between the identified stakeholders.

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