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Which of the following will you put into box 6?
Which of the following will you put into box 6?A . new technology B. forward contract C. outsource D. insuranceView AnswerAnswer: D Explanation: Table Description automatically generated The company should ensure they have the correct levels of Employer's Liability insurance as staff are getting injured. This transfers the risk to...
Which of the following types of fraud has Dave committed?
Dave is a procurement manager for a chocolate factory who is running a tender to source cocoa from a new supplier. The tender is a huge opportunity for suppliers and the contract would be worth millions of pounds. Dave has passed some information about the tender to one of the...
Why might this be?
Yusef is a new procurement manager at FRD Incorporated. He is looking through the Risk Assessments for his department and notices that the cause of the risk is not identified. Why might this be?A . this is a mistake - all risk assessments should specify the cause of the risk....
Which of the following will you put into box 6?
Which of the following will you put into box 6?A . audit B. monitor C. insurance D. dual sourcingView AnswerAnswer: D Explanation: The correct answers are as follows: Table Description automatically generated with low confidence
Which of the following will you put into box 5?
Which of the following will you put into box 5?A . CSR Policy B. Quote in Buyer's Currency C. Force Majeure D. Standardise Payment TermsView AnswerAnswer: A Explanation: The correct answers are as follows: Table Description automatically generated CSR= Corporate Social Responsibility
Fraud committed by an employee within a business is what type of risk?
Fraud committed by an employee within a business is what type of risk?A . internal risk B. external risk C. procurement risk D. economic riskView AnswerAnswer: A Explanation: This is an internal risk. A procurement risk would be issues with a supplier or contract, and economic risk would be exchange...
Which of the following is the last step of the cycle?
Risk Management is a process with several steps. Which of the following is the last step of the cycle?A . identify risks B. treat C. monitor and review D. communicate and consultView AnswerAnswer: C Explanation: monitor and review is the last stage. The full cycle is; establish context - identify...
Which of the following are factors which can lead to a supplier becoming insolvent? Select THREE
Which of the following are factors which can lead to a supplier becoming insolvent? Select THREEA . fraudulent activity B. attrition of key employees C. uncontrolled expenditure D. increased market share E. a high financial ratioView AnswerAnswer: A,B,C Explanation: 1 2 and 3 are factors which can lead to a...
Which of the following will you put into box 1?
Which of the following will you put into box 1?A . transfer B. treat C. tolerate D. terminateView AnswerAnswer: A Explanation: The correct answers are as follows: Table Description automatically generated Nothing can be done to change this risk (you can't stop an earthquake from happening), so you therefore need...
In which of the following industries is it common to find dedicated resource for risk management?
In which of the following industries is it common to find dedicated resource for risk management?A . banking and insurance B. agriculture C. manufacturing D. the public sectorView AnswerAnswer: A Explanation: Banking and Insurance industries usually have a dedicated resource. This mean people working within the company are dedicated to...
