Chapter 6 Risk Identification

Question 1

Risk Register

Answer 1

Atul developed at the risk owner level that link specific activities processes projects or plans to a list of identified risks and results of risk analysis and a valuation and that is ultimately consolidated at the enterprise level

Question 2

Risk map

Answer 2

A template depicting the likelihood and potential impact consequences of risks

Question 3

Balance sheet

Answer 3

The financial statement that reports the assets liabilities and owners equity of an organization as of a specific date

Question 4

Income statement

Answer 4

The financial statement that reports and organizations profit or loss for specific. By comparing the revenues generated with the expenses incurred to produce those revenues

Question 5

Statement of cash flow’s

Answer 5

The financial statement that summarizes the cash affects of an organizations operating investing and financial activities during a specific period

Question 6

Hold harmless agreement or indemnity agreement

Answer 6

Contractual provision that Obligates one of the parties to assume the legal liability of another

Question 7

Indemnification

Answer 7

The process of restoring an individual or organization to a pre-lost financial condition

Question 8

Hazard analysis

Answer 8

A method of analysis that identifies conditions that increase the frequency or severity of loss