Risk Management study support


The aim of this module is for students to develop and extend their understanding of the discipline of risk management, including how risk management links to compliance management and complements effective corporate governance in organisations.

All organisations manage risk, but in the last few decades risk management has become increasingly formalised and organised. A key driver for this has been corporate governance regulation which has emphasised the central role that risk management plays, both in terms of ensuring effective internal control within organisations and in helping to manage risks which may threaten an organisation’s strategic objectives. Hence risk management has become a board level concern, with increased risk reporting and board level discussions on subjects such as risk appetite and risk culture.

In this module students will explore the role of the board in terms of risk management, as well as the people, processes and techniques that can be used to support the board and ensure the effective assessment, monitoring and control of risk at all levels of an organisation

Download the Risk Management module syllabus. This syllabus was updated in line with the July 2021 study text update and is to be used to prepare for the June 2022 exam.

Study text

If you have not yet downloaded your study text for this module and need it urgently, please email enquiries@cgi.org.uk or call +44 (0)20 7580 4741 during business hours.

You will need to purchase a copy of the study text and you can visit our Bookshop using the link below.


Study text


Risk Management

Recommended study text

This is the recommended study text for the June and November 2024 exam. 

Case study

All of the Part Two modules, Risk Management, Development of Strategy and Boardroom Dynamics will have pre-released case studies. Three of the questions in each exam paper will be based on the pre-released case, so you will need to read this case and do some reading associated with it before you come to the exam.

Exam material

In the table below you will find:

  • Exam paper - this is the paper that was set at the exam session
  • Mark scheme - this is the document markers used to assess students' answers
  • Examiner's report - this is the examiner's comment on the examination performance
  • Student answers - for some sessions we can show examples of answers students wrote in the examination
  • Pass rates - These pass rates refer to exams from the United Kingdom, Republic of Ireland and Associated Territories (all territories administered by the Chartered Governance Institute’s office in London)
Risk Management exam material
Exam sessionExam paperMark schemeExaminer's reportStudent answers
June 2023 View View View
November 2022 View View View
June 2022 View View View

November 2021 View View View

Exam paper 1 (pass)

Exam paper 2 (pass)
Exam paper 3 (distinction)

June 2021 View View View

Exam paper 1
Exam paper 2

November 2020 View View View

Exam paper 1

November 2019 View View View

Question 1 (fail)
Question 1 (merit)
Question 1 (distinction)

Sample paper View View Not available for sample paper


We deliver a number of study support webinars for each exam session covering topics ranging from planning your study to exam strategy. You will get details of upcoming webinars via email. Each session is recorded and can be found in the 'Learning resources' area, so you can view it at a time to suit you.

We plan to deliver webinars that are subject specific to the Qualifying Programme modules.  You will receive an invitation to join these live webinars and the recordings can be accessed below.

  • Risk Management examiner webinar and Slides for June 2021 session. The examiner analysed questions from the recent exam session and provided guidance on exam strategy. You can view the student answers in the 'Exam material' tab above.

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