P3 Exam Dumps | ERT is choosing between two maintenance policies for its vehicles. The outcomes of these policies are

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CIMA.P3.v2023-04-29.q128
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Question 73/128

ERT is choosing between two maintenance policies for its vehicles. The outcomes of these policies are difficult to predict and so ERT has run a simu-lation of both.
Policy 1 has an expected annual cost of $400,000 per year, with a standard deviation of $80,000.
Policy 2 has an expected value of $350,000, with a standard deviation of $150,000.
Which of the following statements are correct?

A. Policy 2 is clearly the better policy.

B. Policy 2 is the more likely to cost more than $500,000 in any given year.

C. Policy 2 has the greater potential upside risk.

D. Policy 2 is the more risky.

E. Policy 1 will always be the more expensive in any given period.

Correct Answer: B,C,D

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