Chpt 3 Risk in an Organization

Question 1

Stakeholder

Answer 1

Any individual or organization that is directly or
indirectly involved with or affected by organizational
decisions or activities.

Question 2

Any individual or organization that is directly or
indirectly involved with or affected by organizational
decisions or activities.

Answer 2

Stakeholder

Question 3

Risk center

Answer 3

A discrete unit within an organization, having
a leader and specific objectives, at which level a
particular risk (or group of risks) is most appropriately
and effectively managed.

Question 4

A discrete unit within an organization, having
a leader and specific objectives, at which level a
particular risk (or group of risks) is most appropriately
and effectively managed.

Answer 4

Risk center

Question 5

Risk owner

Answer 5

An individual accountable for the identification,

assessment, treatment, and monitoring of risks in a specific environment.

Question 6

An individual accountable for the identification,

assessment, treatment, and monitoring of risks in a specific environment.

Answer 6

Risk owner

Question 7

Code of ethics

Answer 7

The minimum standards of expected behavior for those to whom the code applies.

Question 8

The minimum standards of expected behavior for those to whom the code applies.

Answer 8

Code of ethics

Question 9

Social responsibility

Answer 9

An organization’s responsibility to its stakeholders and society to consider the consequences of its
actions on all stakeholders and to protect the welfare
of society overall.

Question 10

An organization’s responsibility to its stakeholders and society to consider the consequences of its
actions on all stakeholders and to protect the welfare
of society overall.

Answer 10

Social responsibility