Risk Management

Which one is not a definition of risk?

Risks can be measured in terms of

Risks has no impact in the fulfillment of corporate objectivesm

For risk to materialize, an event must occur.

Which is a type of risk?

Example of hazard risk is____

This is type of risk when events can only result to negtive outcomes.

This risk give rise to uncertainty about the outcome of a situation

The management of control risk will often be undertaken in order to ensure that the outcome from the business activities falls outside the desired range.

When an organizatiom has specific appetite for investment, this type of risk is called___.

The most common risk type associated with operations

Risk may be positive or negative outcomes or may result to certainty

Other term for control risk

Opportunity Risks relate to the relationship of

The application of these will help the mgt handle the risks.

Control risks are associated with known and expected events

Opportunity risk can be visible or physical

Risk description is necessary to fully identify and understand the risk

Risk description includes the following except:

Example of Computer risk

In defining rhe risk it must be

This defines risk as a event

The purpose of risk assessment is

It is used to show the inherent level of the risk in terms od likelihood and magnitude

Inherent level of risk is also referred to ...

Current level is also called

Risk can be classified into

Risk can also be classified according to the component or feature of the orgsnization that will impacted.

Which of the components or feature of risk classification are included?

There is universal classification system that fulfills the requirements of all organization

Risk likelihood and magnitude is best demonstrated in using ____.

Which is not a benefit of risk matrix?

Horizontal axis represent magnitude and vertical axis as likelihood

Four areas of improvement used in risk management

It refers to define how the event affects business processes (FIRM) in an organization

This refers to indicate the extent to which the event results in failure to achieve effective and efficient STOC

FIRM stands for

Key dependencies is the relationship of the following except:

High level processes that drive the organization

This is the simple way of analysing a risk to gain a greater understanding

Types of risk according to timescale

This is important to develop an agreed perception of risk and attitude of risk

These are the categeories of operational disruption

The type of risk with potential to enhance

The approach that seeks to maximize the benefits of taking entrepreneurial risks.

This approach is adopted by internal auditors and accountants

Hazard managment is usually adopted by

What is the usual approach to compliance risks?

Which of the following is not Risk Mgt standards?

The art and science of assessing, mitigating, administering uncertainties in order to achieve effective and efficient operations within the organization