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Summary Mac2602 assignment 6 semester 1 2024 solutions
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Mac2602 assignment 6 semester 1 2024 solutions
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MAC2602-24-S1 Welcome Message Assessment 6QUIZ
Started on Thursday, 6 June 2024, 4:58 AM
State Finished
Completed on Thursday, 6 June 2024, 5:47 AM
Time taken 48 mins 29 secs
Marks 39.00/50.00
Grade 78.00 out of 100.00
, Question 1
The following are descriptions of methods that the risk management
Correct
team or department can use to monitor the effectiveness of the risk
Mark 2.00 out
management process. Select the description that relates to scenario
of 2.00
management?
(a) Key trends are measured against a specific threshold and risks are
highlighted when the threshold is breached.
(b) Losses are recorded and a loss report drafted to summarise loss
events, values and root causes. Risk responses are then implemented to
prevent or reduce the likelihood of similar events recurring.
(c) It is a method to determine future risks, based on the views of
experts.
(d) It is an analysis of the organisation’s objectives and processes. A tool
used to assess management’s perception of perceived strengths, risks
and weaknesses within the organisations processes and evaluate the
adequacy and effectiveness of the controls designed to mitigate the risks
and achieve organisation objectives.
Select one:
a. Key trends are measured against a specific threshold and risks
are highlighted when the threshold is breached.
b. It is a method to determine future risks, based on the views of
experts.
c. It is an analysis of the organisation’s objectives and processes. A
tool used to assess management’s perception of perceived
strengths, risks and weaknesses within the organisations
processes and evaluate the adequacy and effectiveness of the
controls designed to mitigate the risks and achieve organisation
objectives.
d. Losses are recorded and a loss report drafted to summarise loss
events, values and root causes. Risk responses are then
implemented to prevent or reduce the likelihood of similar events
recurring.
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