This quiz works best with JavaScript enabled. Home > Finance > Risk Management > Enterprise Risk Management – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Enterprise Risk Management Quiz 4 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The correct flow of the risk management framework according to ISO is A) Mandate and Commitment, Framework Design, Management Implementation, Monitoring and Review, Continuous Improvement, Framework Design, Mandate and Commitment. B) Mandate and Commitment, Management Implementation, Framework Design, Monitoring and Review, Continuous Improvement, Framework Design, Mandate and Commitment. C) Mandate and Commitment, Framework Design, Monitoring and Review, Implementation, Continuous Improvement, Framework Design, Mandate and Commitment. D) Mandate and Commitment, Framework Design, Management Implementation, Continuous Improvement, Monitoring and Review, Framework Design, Mandate and Commitment. Show Answer Correct Answer: A) Mandate and Commitment, Framework Design, Management Implementation, Monitoring and Review, Continuous Improvement, Framework Design, Mandate and Commitment. 2. Which year was the Australia/New Zealand Standard AS/NZS 4360 first published? A) 2001. B) 2006. C) 2014. D) 1995. Show Answer Correct Answer: D) 1995. 3. The following are the principles of risk management, except..... A) Statis. B) Inclusive. C) Integrated. D) Structured and thorough. Show Answer Correct Answer: A) Statis. 4. Which risk comprises the analysis and evaluation of risk through processes of identification, description and estimation in the AIRMIC, ALARM, IRM Risk Management Standard? A) Risk reporting. B) Risk assessment. C) Risk monitoring. D) Risk treatment. Show Answer Correct Answer: B) Risk assessment. 5. What is included in the Risk Management Monitoring & Evaluation category in Generation Asset Management? A) Assessment and Evaluation of Company ERM Maturity Level from Independent Institutions and Parent Companies. B) ERM Unit Performance Contract Assessment. C) Evaluation of the Effectiveness and Adequacy of Risk Management Guidelines. D) All answers are Correct. Show Answer Correct Answer: D) All answers are Correct. 6. The risk value after control is called..... A) Actual Risk. B) Current Risk. C) Inherent Risk. D) Residual Risk. Show Answer Correct Answer: B) Current Risk. 7. After measuring the related risks, Management determines efforts to handle or respond to these risks. Below are the types of treatment that can be carried out, except: A) Risk Avoidance. B) Risk Reduction. C) Risk Allocation. D) Risk Transfer. Show Answer Correct Answer: C) Risk Allocation. 8. Below are the Islamic Views on Risk, EXCEPT? A) Risk Transfer. B) Reduce the Risk. C) Healthy Risk. D) Manage the Risk. E) Risk Sharing. Show Answer Correct Answer: A) Risk Transfer. 9. Risk Ranking Means? A) Risk ranking is a process by which risks can be prioritised for action. B) Risk evaluation of identified hazards taking into account the existing controls and defences. C) Risk is a function of the probability of contact with (or exposure to) a hazard, multiplied by the likely severity of the consequences of that contact or exposure. D) A "hazard" is a condition, property or situation with the potential for loss. Show Answer Correct Answer: A) Risk ranking is a process by which risks can be prioritised for action. 10. What is not included in the treatment of potential risks is A) Prevent, reduce, reject, redirect. B) Prevent, reduce, add, maintain. C) Prevent, reduce, accept, redirect. D) Prevent, forget, reduce, leave. Show Answer Correct Answer: C) Prevent, reduce, accept, redirect. 11. Risk assessment includes: A) Risk identification and risk analysis. B) Risk identification, risk analysis and risk evaluation. C) Risk identification and risk management. D) Establish risk context and identify risks. E) All true. Show Answer Correct Answer: B) Risk identification, risk analysis and risk evaluation. 12. What is the meaning of Customized Risk Management Principles? A) Same for every type of company. B) Adapted to the type and type of company. C) All true. D) Nothing is true. Show Answer Correct Answer: B) Adapted to the type and type of company. 13. Which of the following answer does NOT refer to Risk Management Process (COSO)? A) Risk identification. B) Risk transfer. C) Establishing the context. D) Risk analysis. Show Answer Correct Answer: B) Risk transfer. 14. The types of impacts in the Telkom Impact Table are as follows, except: A) Reputation. B) Law/Regulation. C) IT (Information Technology). D) Financial. Show Answer Correct Answer: C) IT (Information Technology). 15. Ensuring that treatment plans have been implemented effectively is the goal of..... A) Risk management. B) Risk assessment. C) Identify risks. D) Monitoring and survey. Show Answer Correct Answer: D) Monitoring and survey. 16. Risk handling actions to reduce the possibility of risks occurring through creating internal procedures and supervision, training, internal socialization are actions of..... A) Mitigation. B) Sharing. C) Transfer. D) Accept. Show Answer Correct Answer: A) Mitigation. 17. ..... is the process of identification, analysis, acceptance of uncertainty in investment decisions. A) Safety equipment. B) Loss prevention. C) Uncontrollable risk. D) Risk management. Show Answer Correct Answer: D) Risk management. 18. The ability to identify and eliminate unacceptable risks is the understanding of A) Accident. B) Hazard. C) Safety. D) Incident. Show Answer Correct Answer: C) Safety. 19. The following are the purposes and benefits of ERM, except..... A) Integrate risk management with the company's strategic plan. B) Achieving sustainable growth (sustainable growth). C) Drive governance and compliance. D) Minimize budget volatility. Show Answer Correct Answer: D) Minimize budget volatility. 20. What is the content of ISO 31000:2008? A) Vocabulary. B) Principles and Guidelines. C) Risk Assessment Technique. D) All true. Show Answer Correct Answer: B) Principles and Guidelines. 21. Balanced corporate governance, a system where entities are directed and controlled is the definition of A) Corporate Public Relation. B) Corporate Social Responsibility. C) Corporate Governance. D) Company Code of Conduct. Show Answer Correct Answer: C) Corporate Governance. 22. Operational risk, reputation risk and Shariah risk are classified under ..... A) Non-financial risk. B) Unsystematic risk. C) Financial risks. D) Systemic risk. Show Answer Correct Answer: A) Non-financial risk. 23. What are the main duties of managers in an organization? A) To anticipate and manage risks. B) To create a risk-aware culture. C) To maximize organizational value. D) To develop risk management infrastructure. Show Answer Correct Answer: A) To anticipate and manage risks. 24. The correct steps or sequence in the Assessment in the Risk Management Process are? A) Risk Identification-Risk Treatment-Risk Evaluation. B) Risk Identification-Risk Analysis-Risk Evaluation. C) Risk Analysis-Risk Identification-Risk Evaluation. D) Risk Evaluation-Risk Identification-Risk Analysis. Show Answer Correct Answer: B) Risk Identification-Risk Analysis-Risk Evaluation. 25. What items include risk management controls? A) The identification valve drill. B) Evaluation feedbackreporting. C) Identification of measurement evaluation. D) Identification of risk management reporting. Show Answer Correct Answer: B) Evaluation feedbackreporting. 26. Risk Assessment means? A) Risk assessment of hazards identified through a review of the potential unsafe-acts. B) Risk evaluation of identified hazards taking into account the existing controls and defences. C) Risk ranking is a process by which risks can be prioritised for action. D) Risk is a function of the probability of contact with (or exposure to) a hazard. Show Answer Correct Answer: B) Risk evaluation of identified hazards taking into account the existing controls and defences. 27. Public Relations activities are a form of Risk Response: A) Transfer. B) Reduce Likelihood. C) Avoid. D) Reduce Impact. Show Answer Correct Answer: D) Reduce Impact. 28. Risk Management Principles according to ISO 31000:2018 with serial number 1 are? A) Human & Cultural Factors. B) Structured & Comprehensive. C) Value Creation & Protection. D) Integrated. Show Answer Correct Answer: C) Value Creation & Protection. 29. Which of the following is NOT included in HM Treasury's Orange Book risk management process? A) Risk identification and assessment. B) Risk monitoring. C) Risk treatment. D) Risk profile. Show Answer Correct Answer: D) Risk profile. 30. What is the main responsibilities of Chief Operating Officer A) Develop the Risk Management policy and keep it up-to-date. B) Cooperate with management on incident investigations. C) Report loss events and near-miss accidents. D) Cooperate with management on incident investigations. Show Answer Correct Answer: A) Develop the Risk Management policy and keep it up-to-date. ← PreviousNext →Related QuizzesFinance QuizzesEnterprise Risk Management Quiz 1Enterprise Risk Management Quiz 2Enterprise Risk Management Quiz 3Enterprise Risk Management Quiz 5Credit Risk Management QuizOperational Risk Management Quiz 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books