Exin Management of Risk Foundation Set 1

1.

Which is NOT a recommended risk response option for an 'opportunity'?

Enhance Transfer Share Reduce

2.

Which is a purpose of the 'risk management policy'?

Explain the actions required to implement risk management Define the Specific risk management activities that will be performed for an activity Describe how risk management practices will be implemented throughout an organization Record information about threats and opportunities for an organizational activity

3.

What is the goal of the 'assess - estimate' step?

Identify the threats and opportunities facing the organizational activity Estimate and agree the budget required to manage risks to the activity Assess the effectiveness of the risk management processes within an organization Determine the risks with the greatest effect on activities objectives

4.

Which BEST describes an area of uncertainty at the programme perspective?

Disruptions to operations during business change implementation Introduction of new laws that affect core business activities Availability of resources for the day-to-day delivery of services to customers Changes to the scope of defined business products

5.

Which heading in a 'risk register is used to record the area of uncertainty?

Cause Event Effect Probability

6.

Which perspective ensures risk management maintains a view of the adequacy of controls that support service delivery to satisfy the fits the context principle?

Strategic Programme Operational Project

7.

Which BEST describes an area of uncertainty at the programme perspective?

Schedule of business products to time and cost Availability of skills to deliver services to new and existing customers Implementing new business practices across organizational boundaries Legislation that affects core business activities

8.

Which is a common barrier to implementing the risk management process?

Lack of a high-risk appetite at senior management level Lack of an appropriate response to a risk in an activity's risk register Lack of an assigned risk owner Lack of policies, processes, strategies and plans

9.

What are the M_o_R principles informed by?

Statements of internal control International standard for risk management ISO31000:2009 Public Company Accounting and Reform and Investor Protection Act Basel Accord (Basel II)

10.

Who does a 'risk actionee' keep up to date on progress when implementing a response to a risk?

Senior team Audit committee Risk owner Team

Exin Management of Risk Foundation Set 1

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Exin Management of Risk Foundation Set 1

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