Enterprise-Wide Risk Management

Question 1

Pure risk

Answer 1

A chance of loss or no loss, but no chance of gain

Question 2

Speculative risk

Answer 2

A chance of loss, no loss, or gain

Question 3

Chief risk officer

Answer 3

A generic term for the senior risk professional engaged in ERM in an enterprise; distinct from “Chief Risk Officer,” a title given to some risk professionals who report to senior management

Question 4

Business model

Answer 4

The core aspects of an organization, including its vision, mission, strategies, infrastructure, policies, offerings, and processes