Module 1 - UNIT 1 additional Qs Flashcards
provide different question types
Which of these is best describes ‘residual’ (or net, or current) risks?
Select one:
a.
A risk before any actions have been taken to manage it
b.
A risk after risk management actions have been taken
c.
A risk associated with speculative opportunities
b.
A risk after risk management actions have been taken
Which of these is best describes ‘hazard’ risks?
Select one:
a.
Risks associated with ‘pure’ risk events or perils
b.
Risks associated with the benefits of speculative opportunities
c.
Risks associated with the management of uncertainty
a.
Risks associated with ‘pure’ risk events or perils (negative)
What are core processes?
Select one:
a.
The key things that the organisation needs to be successful
b.
Groups of individuals who have a stake in the business, or are affected by what the organisation does
c.
The means of delivery of strategy and continuity of operations
c.
The means of delivery of strategy and continuity of operations
Which of these best describes the term ‘mandatory’ in relation to risk management objectives as set out in MADE2?
Select one:
a.
To ensure that appropriate risk-management information is available
b.
To ensure that risk management complies with the five principles of PACED
c.
To ensure conformity with rules, regulations and obligations
c.
To ensure conformity with rules, regulations and obligations
Which of these best describes a ‘credit risk’?
Select one:
a.
The risk of a loss from a change in interest rates
b.
The risk from an adverse change in the price of stock
c.
The risk that a borrower may fail to meet their obligations
c.
The risk that a borrower may fail to meet their obligations
Which of these best describes an ‘operational risk’?
Select one:
a.
A risk of loss from a change in currency exchange rates
b.
A risk from an adverse change in the price of stock
c.
A risk of loss resulting from failed internal processes
c.
A risk of loss resulting from failed internal processes
