How to Prepare for Risk Management- CA Final Subject-wise Tips
Cracking the CA code is no easy task, as the aspirants preparing for it would acknowledge. With high competition in the field and new changes to the format, expert guidance and important tips would help aspirants crack the CA Final examination.
SuperProfs’ subject-wise tips will help CA Final students attempt the exam with confidence. How to study for CA Final Risk Managementsubject forms one part in this series. Links to other subjects are available at the bottom of this article.
Look no further than this article for CA Final Risk Management tips and preparation strategies for. Moving to the next sections, you will find :
- What’s new: CA Final Optional Papers
- How to study for CA FinalRisk Management CA final paper
- How to score well in CA FinalRisk Management : 5 Tips
- Online resources to prepare for CA Final Risk Management
What’s new: CA Final Optional Papers
The new CA Final syllabus has a new introduction of an optional paper where students can choose one from six available options. The examination is designed to be an open book case study examination.
If you have chosen Risk management as your optional subject in CA Final and are looking for a guide to prepare for CA Final Risk Management, this article is just for you. The Risk Management paper in CA Final examination is built around applying risk scenarios to business. Many modules in this paper are from the post-qualification courses in insurance and Risk Management offered by ICAI. The subject is closely linked to auditing, strategic financial management and actuaries.Quantitative methods, corporate governance and various risk models are detailed in this subject.It is essentially an extension of the Assurance subject
How to study for CA Final Risk Management
- Let us first find out what all topics need to be covered while studying for the CA FinalRisk Management paper:
- Introduction to Risk
- Source and Evaluation of Risks
- Risk Management
- Quantitative Analysis
- Risk Model
- Credit Risk Measurement and Management
- Risk associated with Corporate Governance
- Enterprise Risk Management
- Operational Risk Management
- Studying frommultiple study materials will only create confusion and increase your burden. It is suggested that you choose the ICAI study materialas a standard preparation source and complement it with lectures from professors.
- This subject is a bridge between theory and practice, so while studying, you will need to linktheory to real-life business scenarios in order to derive proper conclusions and retain the concepts better
- If you are confused as to what are the important parts in any particular topic, watch these videos for a better grip on the subject
- Make notes while learning each chapter, specifically decoding difficult parts. This will be your ready reckoner during revision
- Some tips are evergreen–they apply to all – practicing mock tests and solved question papers will help you understand your level of preparation and improve confidence
How to score well in CA Final Risk Management: 5 Tips
- Risk management is a vast topic. Do not blindly learn theory without practical applications
- Bring notes in the form of mind maps or concept maps. That way, you’ll see how different parts of the course connect together.
- Quoting real-life scenarios (staying abreast with current business examples) will prove your understanding of the topic and is a sure shot scorer.
- Presentation makes a real impression. While answering correctly is important, how you present it also matters. Structuring your answers into sections and highlighting important parts of the answer will create a good impression
- Since case-based questions will be asked, support your answer with facts, statements and then concludeby stating your views on the issue.
Online resources to prepare for CA Final Risk Management
- Study Material can be accessed at: https://www.icai.org/post.html?post_id=14160
- Case Studies:
Case Study 1: https://resource.cdn.icai.org/48785bos32733-6a.pdf
Case Study 2:https://resource.cdn.icai.org/52052bos41743cs-2.pdf
Case Study 3:https://resource.cdn.icai.org/52054bos41743cs-3.pdf
- Past Question papers:
May 2019 paper: https://resource.cdn.icai.org/55469bos44840p6a.pdf
November 2018 paper: https://resource.cdn.icai.org/52620bos42154finalnew-nov18-p6a.pdf
May 2018 paper: https://resource.cdn.icai.org/50209bos39812finalnewqp6a.pdf
- Mock Test Papers:
You can watch a few demo lectures by SuperProfs for CA and see if you would want to consider subscribing to our video series for a better shot at clearing the CA Examination.
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