Risk Management Exams (100% correct answers)

States differ in their requirements for reporting adverse events or incidents. correct answers TRUE Exposure avoidance is the elimination of services that may cause losses. correct answers TRUE Occurrence Reporting method yields the highest percentage of reportable incidents. correct answers F...

risk management correct answers process that identifies loss exposures faced by an organization and selects the most appropriate techniques for treating such exposure loss exposure correct answers any situation or circumstance in which a loss is possible, regardless of whether a loss occures i...

Risk correct answers considered an indicator of a threat, the possibility of loss damege or any undesirable event, not the same as uncertainly Business Risks correct answers risks specific type of business or organizational structure; general greater when a business first begins operation; of gre...

Integrating RM into how we think is crucial to correct answers maintaining combat power and ensuring efficient mission accomplishment. Proper use of RM will support correct answers the standardization and institutionalization of techniques, tools, and procedures that lead to sound decision making...

Risk control correct answers _____ is the application of controls to reduce the risks to an organization's data and information systems. competitive disadvantage correct answers The concept of _____ refers to falling behind the competition. Risk identification correct answers The first phase ...

What is the most important step in Risk Management? correct answers Identification of risks Three (3) Types of Risk correct answers Pure Speculative Gambling Pure Risk correct answers Loss only; insurable, everywhere (i.e. injury of the job) Speculative Risk correct answers Loss or gain; ...

An uncertain event or condition that, if it occurs, has a positive or negative effect on a project objectives is termed. A. Random chance B. A disaster C. Risk D. Hazard E. Bad luck correct answers C The chances of a risk event occurring as a project proceeds through its life cycle tends to ...

(T/F) Professionals define risk exposure as the proportion of an asset, the person, the entity (etc.) facing the potential loss. correct answers True Which one of the following statements best applies to "risk?" correct answers A risk is an uncertain future event that, if it happens, will affec...

What regulation cover Risk Management? correct answers ATP 5-19 What are the step to risk management? correct answers -Identify the hazards -Assess the hazards -Develop controls and make risk decisions -Implement controls -Supervise and evaluate What is mission command? correct answers the...

Risk correct answers The likelihood that a threat will exploit a vulnerability. Threat correct answers A ptential danger that can compromise confidentiality, integrity or availability of data or a system Vulnerability correct answers A weakness Types of Risk correct answers - risk avoidance...

How is risk defined within Risk Management? correct answers Risk is defined as the possibility of loss or injury due to exposure to a hazard What is the first choice in the standard of order of precedence for RM controls? correct answers The standard order of precedence for controls is to first u...

Donna has a home that is insured to its maximum value. She often leaves the door unlocked in case she forgets her keys. She knows that her insurance policy will pay for any losses if her home is robbed. Which of the following best applies to Donna? a. moral/morale hazard b. physical hazard c. s...

Which one of the following is true regarding enterprise-wide risk management (ERM)? Select one: A. ERM is an approach to managing all of an organization's key risks and opportunities. B. ERM is an approach to risk management that focuses primarily on loss exposures associated with pure risk. C....

RISK MANAGEMENT correct answers Is the process of measuring or assessing risk and developing strategies to manage it. Risk Management correct answers Is a systematic approach in identifying, analyzing and controlling areas or events with a potential for causing unwanted change. Risk management...

What are three basic categories of controls in risk management? correct answers Educational (awareness) controls, physical controls, hazard elimination controls. What is residual risk? correct answers Residual Risk is the risk remaining after controls have been selected for the specific hazard. R...

In any well-developed risk management program, two formal processes are at work correct answers Risk identification and assessment Risk control Information security departments are created correct answers primarily to manage IT risk Managing risk correct answers is one of the key responsibil...

business risk correct answers the possibility of financial loss. Situations that can lead to financial gain, loss or failure. risk management correct answers the systematic process of managing an organization's risks to achieve objectives in a manner consistent with public interest, human safety...

Quality Assurance correct answers A program for the systematic monitoring and evaluation of the various aspects of a project, service, or facility to ensure that standards of quality are being met. It is a way to prevent mistakes and avoid problems. Risk correct answers Usually there are nega...

Risk correct answers possibility of an event occurring that will have an impact on the achievement of objectives. Measured in terms of impact and likelihood Risks may be financial, operational, legal or regulatory, or strategic. Risk Management correct answers Process to identify, assess, mana...

Risk position correct answers Organization's desired gain or acceptable loss in value Residual risk correct answers Amount of uncertainty that remains after all risk management efforts have been exhausted. Annualized loss expectancy (ALE) correct answers Expected monetary loss for an asset du...

Enterprise Risk Management correct answers -a process used by a company to identify its risks and develop responses to them that enable it to be reasonably assured of meeting its goals -An Enterprise Risk program combines into a single unified treatment program all major risks faced by the organi...

Performance Standard 2120 correct answers The internal audit activity must evaluate the effectiveness and contribute to the improvement of risk management processes. Risk Management correct answers - is "a process to identify, assess, manage, and control potential events or situations to provide...

0. What is the definition of Risk Management? correct answers A: The Army's primary decision making process, used by employees and managers, for identifying hazards and controlling risks 1. What is the five step process? correct answers A: Identify hazards, assess hazards, develop controls and m...

Of the following risk management strategies, the one that aims at minimizing both the severity and the likelihood of loss is correct answers reduction Insurance is a method of correct answers risk outsourcing How does disclosure manage risk? correct answers A. It deflects and reduces risk by p...

Personal Health and Personal Safety are resources that Risk management tries to protect correct answers True Some of the resources that Risk management protects against miss handling are Trust, Image, and Time correct answers True Risk Management protects against vandalism, sabotage, and terro...