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Risk management processes, outcomes, and activities should be _________.
Risk management processes, outcomes, and activities should be _________.A . routable B. executable C. traceable D. rectifiableView AnswerAnswer: C Explanation: Risk management processes, outcomes, and activities should be traceable5. This means that there should be a clear record of how risks were identified, analyzed, evaluated, treated, monitored, reviewed, and communicated.
As part of the ISO 31000 risk management process, ‘monitoring and review’ is best thought of as which of the following?
As part of the ISO 31000 risk management process, ‘monitoring and review’ is best thought of as which of the following?A . An extra stage. B. A feedback loop. C. Part of risk assessment.View AnswerAnswer: B Explanation: According to 3, clause 6.5., monitoring and review “is intended as a feedback...
Which of the following correctly describes these risks?
An international bank has identified the risks associated with economic changes in the countries in which it operates. Which of the following correctly describes these risks?A . Internal C Infrastructure. B. External C Reputational. C. External C Marketplace.View AnswerAnswer: C Explanation: According to 1, page 15-16, external risks are “those...
The accuracy and reliability of the risk assessment should be identified as clearly as possible.
The accuracy and reliability of the risk assessment should be identified as clearly as possible.A . True B. FalseView AnswerAnswer: A Explanation: The accuracy and reliability of the risk assessment should be identified as clearly as possible1. This helps to communicate the level of confidence in the risk assessment results...
Which type of risk framework is expected to improve efficiency by aligning strategy, processes, technology and people?
Which type of risk framework is expected to improve efficiency by aligning strategy, processes, technology and people?A . Controls, risk and supervision. B. Corporate, governance and control. C. Governance, risk and compliance. D. Supervision, audit and complianceView AnswerAnswer: C Explanation: A governance, risk and compliance (GRC) framework is expected to...
The ISO 31000:2018 process can be used to identify stakeholder risk requirements, needs, and expectations.
The ISO 31000:2018 process can be used to identify stakeholder risk requirements, needs, and expectations.A . True B. FalseView AnswerAnswer: A Explanation: The ISO 31000:2018 process can be used to identify stakeholder risk requirements, needs, and expectations4. This is part of establishing the context for risk management, which involves defining...
Risk management takes human and cultural factors into account.
Risk management takes human and cultural factors into account.A . True B. FalseView AnswerAnswer: A Explanation: Risk management takes human and cultural factors into account1. Human factors include perception, judgment, behavior, and communication that influence risk management. Cultural factors include values, beliefs, norms, and expectations that shape the organization’s risk...
Which of the following is the current trend in auditing, risk management and compliance?
Which of the following is the current trend in auditing, risk management and compliance?A . Providing assurance over threats B. Performing discrete audits in compliance with internal control C. Front office function providing leading indicators about riskView AnswerAnswer: C Explanation: According to 3, page 6, one of the current trends...
The organization’s resources and internal support are ________ the risk management strategy.
The organization’s resources and internal support are ________ the risk management strategy.A . adjustable to match B. inputs in the development of C. metrics used to measure the value of D. outcomes of the development ofView AnswerAnswer: B Explanation: according to page 15 of source 3, the development of a...
Which of the following ensures that uncertainty is managed so the organization can meet its objectives?
Which of the following ensures that uncertainty is managed so the organization can meet its objectives?A . Extended risk management B. Enhanced risk management C. Evasive risk management D. Avoidance risk managementView AnswerAnswer: B Explanation: Enhanced risk management ensures that uncertainty is managed so the organization can meet its objectives4....
