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ARM 401 Segment C Assignment 7 Exam Questions with Correct Answers
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ARM 401 Segment C Assignment 7 Exam Questions with Correct Answers
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ARM 401 Segment C Assignment 7 Exam Questionswith Correct Answers
Sixth National Bank stores all of its financial records in an electronic data base. Sixth National customers
are able to access their accounts on-line with a user identification number and a password. Last
weekend, a computer hacker was able to breach the firewall of the electronic database and gain access
to customer account data. This operational risk for Sixth National Bank is - Correct Answer - A systems
risk.
The level of confidence an organization places in the organization's risk management culture, practices,
and procedures is called - Correct Answer - Risk assurance.
Which one of the following statements about blockchain is true? - Correct Answer - Blockchain stores a
record of transactions across a network of servers.
Three HillsLaw is a legal firm specializing in multiple-plaintiff cases. One current case involves alleged
birth defects caused by exposure to polluted groundwater. There are currently 78 plaintiffs represented
in the pending legal action. Up-to-date records on the condition of each child is a critical operational
concern. Three HillsLaw turned to a secured digital ledger system in which independent third parties
(nurses, physicians, and parents) can update the status of individual children, and the record for the
entire group is automatically updated. The latest update showed seven children have died, 14 have a
terminal diagnosis, 27 have permanent disabilities, and 30 cases are listed as "developing" (awaiting
definitive diagnosis). The secured distributed ledger system used by Three HillsLaw is called - Correct
Answer - Blockchain.
Which one of the following statements is true concerning robotic process automation (RPA)? - Correct
Answer - Although RPA can help control some organizational risks, use of RPA can create other risks.
Which one of the following statements is true regarding operational risk? - Correct Answer -
Operational risk is integrated in every activity of an organization.
The board of directors of Insurance Company wants assurance that the company's recently-instituted
"commitment to risk management" has been communicated to and accepted by all company
employees. Which one of the following would be the best method to determine if employees had been
informed of the commitment to risk management and had accepted it? - Correct Answer - Ask the
internal audit department to administer a risk management questionnaire to employees.
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