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ARM 400.. questions and answers verified 2024
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ARM 400.. questions and answers verified 2024
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ARM 400Big Data - correct answer ✔Set of data that are too large to be gathered and
analysed by traditional data.
Strategic Redeployment Plan - correct answer ✔a comprehensive plan for
resiliency after a severe disruption
Business Impact Analysis (BIA) - correct answer ✔assesses identified risks
and determines their overall effect on the firm's ability to meet its key
objectives
Risk Managers - correct answer ✔identify, evaluate and treat risks within
stated risk appetites and risk tolerances. The risk management team monitors
and reports on risk management activities.
Privacy Impact Assessment (PIA) - correct answer ✔defines what data is
private and identifies the risk to that data.
4 Data Governance Goals - correct answer ✔Accuracy; Validity; Timeliness;
Completeness
Board of Directors - correct answer ✔sets the firms risk appetite and stays
aware of significant risks. They also determine the amount and types of risk
the firm will pursue, retain, reduce and avoid.
Corporate Governance Codes - correct answer ✔developed by governments
and business oversight organisations to provide broad guidance to corporate
boards and management.
, 3 Most Important Corporate Board Committees - correct answer ✔Audit
Committee; Compensation Committee; Nominations/Corporate Governance
Committee
Monitoring Costs - correct answer ✔the costs of overseeing corporate
decision makers (shareholders bear most of these costs)
Bonding Costs - correct answer ✔are the managers costs of demonstrating
that they are serving the shareholders interests (managers bear most of these
costs)
Incentive Alignment Costs - correct answer ✔costs of lost value because
managers interest of never perfectly aligned with shareholders' interest
(shareholders bear most of these costs)
Hierarchy Culture - correct answer ✔well defined decision making authority
with standardized rules and procedures
Market Culture - correct answer ✔Focuses on outward relationships and
prioritizes profitability, bottom-line results and stable customer bases
Clan Culture - correct answer ✔Views the firm as a family, emphasizes
teamwork, and encourages workers to suggest improvements to processes
Adhocracy Culture - correct answer ✔Emphasizes adaptability and shifts
authority as needed
Risk-Seeking (Naive) - correct answer ✔This attitude anticipates positive
results, often underemphasising a risk's potential negative effects
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