1. Operational risk is defined as the risk of loss resulting from inadequate or failed .....................which includes legal risks, but excludes strategic and reputational risks:

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1. Operational risk is defined as the risk of loss resulting from inadequate or failed .....................which includes legal risks, but excludes strategic and reputational risks:

A) People, Internal Process, System & External Event.

B) Internal Process.

C) Internal Process and System.

D) External Event

2. Residual risk can be defined as:

A) Risk that remain after applying control measures.

B) Risk before applying mitigating measures.

C) Risk that cannot be mitigated.

D) Risk after incorporating the action plan.

3. The main objective of the Key Risk Indicators (KRIs) tool is to:

A. Track and monitor very high/high inherent risks that had been identified.

B. Provide a qualitative approach to identify potential risk and control gaps.

C. KRI is a tool to monitor and manage key operational risk exposures over time.

D. Provide a central point for logging of incidents.

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