Preparation Strategy for Elective paper-6A Risk Management

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 bookcase 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 close to auditing, strategic financial management, and actuaries. Quantitative methods, corporate governance and various risk models. It is essentially an extension of the assurance subject.

Preparation Strategy for CA Final Risk Management

We need to cover all the topics for the preparation of Risk Management.The topics under the subjects are discussed below:

  • Introduction to Risk
  • Source and Evaluation of Risks
  • Risk Management
  • Quantitative Analysis
  • Risk Model
  • Credit Risk Measurement and Management
  • The risk associated with corporate governance
  • Enterprise Risk Management
  • Operational Risk Management
  • Studying from multiple study materials will only create confusion and increase your burden. It is suggested that you choose the ICAI study material as 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 link theory to real-life business scenarios in order to derive proper conclusions and retain the concepts better
  • If you are having confusion 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.
  • This subject is designed to give students the knowledge of spectrum of risks faced by businesses and to learn techniques of managing those risks. The main objective is to build the capability to apply such learning into real business related scenarios.The portion of this paper is taken from a course conducted by ICAI called Diploma in Insurance and risk management.

 Approach to study this Open Book Examination

    1. Open book exams are challenging, and so you must know your concepts well
    2. Read the entire case study only once to manage time; you can proceed to answer all the MCQ’s even without referring to the case study again and again.
    3. Try to pocket full marks in MCQs. Note that a brief reasoning is compulsory for MCQs
    4. Make best utilisation of full time given to you in the exams; write mock tests to develop your strategies and manage your risk in the exam well!

Prepare wisely for the subject. And when you think that you have reached a certain level in your preparations, start taking up the mock tests available in the Zeroinfy Website under the head Important Resources.

Online resources to prepare for CA Final Risk Management

As discussed earlier Elective Paper consist of 6 optional Papers and it has different faculties for all the individual subjects.For the refrence Click on the link below for more relevant Information.


There are various important resources available on our website as important PDFs and Important Videos.Click on the below link to go through it:

Link of PDFs:

Link for Videos:

Important Points to note :

  • Always write and practice.
  • Learn Point Heading and write.
  • Try for Mock Exams by ICAI and different faculties.
  • Use Mnemonics Technique to Memorise Headings
  • Make sure to make notes & mark all your doubts while watching the lectures.

Moreover, You can get in touch with our expert, Miss Abhilasha Sharma or Mr.  Abhishek Bajaj (Mobile – 9051753757) exclusively associated with

Hope you can find this article helpful. If you did like this Blog then Share it with your friends who are doing CA Final studies or who will be giving their CA Final Exams in the near future.  

All The Best..!!


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