Question 1

A risk falling within a yellow zone on a heat map needs to be monitored closely, because it could:

Accepted Answer

A)  have moderate consequences, but be almost certain to occur. 
B)  have severe consequences, even though it is a very unlikely to occur. 
C)  have major consequences and possibly occur. 
D)  have severe consequences and possibly occur. 
E)  All of these responses are correct. 
A)  have moderate consequences, but be almost certain to occur. 
B)  have severe consequences, even though it is a very unlikely to occur. 
C)  have major consequences and possibly occur. 
D)  have severe consequences and possibly occur. 
E)  All of these responses are correct.

Question 2

A fire started by lightning that burns down an organisation's business premises is an example of:

Accepted Answer

A)  an operational risk. 
B)  a reputational risk. 
C)  an intrinsic risk. 
D)  an external risk. 
E)  a strategic risk. 
A)  an operational risk. 
B)  a reputational risk. 
C)  an intrinsic risk. 
D)  an external risk. 
E)  a strategic risk.

Question 3

A fall in consumer demand for an organisation's products due to people spending less that causes the business to make less profit is an example of an external risk related to:

Accepted Answer

A)  information technology. 
B)  pandemic. 
C)  Mother Nature. 
D)  the government. 
E)  the economy. 
A)  information technology. 
B)  pandemic. 
C)  Mother Nature. 
D)  the government. 
E)  the economy.

Question 4

What is the first step in developing a solid risk management framework (RMF)?

Accepted Answer

A)  Identifying clear risk policies 
B)  Consulting with relevant stakeholders 
C)  Establishing a mandate for and commitment from the organisation's leadership 
D)  Conducting a risk analysis 
E)  Conducting risk monitoring and review 
A)  Identifying clear risk policies 
B)  Consulting with relevant stakeholders 
C)  Establishing a mandate for and commitment from the organisation's leadership 
D)  Conducting a risk analysis 
E)  Conducting risk monitoring and review

Question 5

Risk management is about avoiding risks, where possible, and dealing with them on an ad hoc, case-by-case basis.

Accepted Answer

A) True 
 B)False

Question 6

Who in an organisation is responsible for identifying and managing risk?

Accepted Answer

A)  Everyone - all employees and all managers 
B)  The organisation's board of directors 
C)  Risk event management teams 
D)  Risk management committees 
E)  Risk owners 
A)  Everyone - all employees and all managers 
B)  The organisation's board of directors 
C)  Risk event management teams 
D)  Risk management committees 
E)  Risk owners

Question 7

While social media has been an effective marketing tool in promoting organisations and their products and services, it also comes with high risk due to the lack of control an organisation has in relation to the speed with which it can damage an organisation's brand, image and reputation.

Accepted Answer

A) True 
 B)False

Question 8

An organisation in which the same risk may be dealt with differently in different areas of the organisation, or one area may unintentionally undermine the efforts of another area, would be said to have:

Accepted Answer

A)  a weak risk culture. 
B)  a strong risk culture. 
C)  an effective risk management system. 
D)  low risk tolerance. 
E)  None of these responses are correct. 
A)  a weak risk culture. 
B)  a strong risk culture. 
C)  an effective risk management system. 
D)  low risk tolerance. 
E)  None of these responses are correct.

Question 9

Which of the following would not be included in a risk management plan (RMP) in relation to a specific risk?

Accepted Answer

A)  What the organisation is doing to enhance the risk 
B)  What the organisation is doing to remove the risk 
C)  What the organisation is doing to control the risk 
D)  The level of loss an organisation is prepared to accept from the risk 
E)  Contingency plans to be put in place should the risk occur 
A)  What the organisation is doing to enhance the risk 
B)  What the organisation is doing to remove the risk 
C)  What the organisation is doing to control the risk 
D)  The level of loss an organisation is prepared to accept from the risk 
E)  Contingency plans to be put in place should the risk occur

Question 10

What is the final component of a documented risk management plan (RMP)?

Accepted Answer

A)  The treatment/s selected for each risk 
B)  The action items needed to implement the RMP 
C)  Identification of the management and control structures needed to execute the RMP 
D)  A list of resources the program needs 
E)  A review process that involves stakeholders and encourages continuous improvement, innovation and learning 
A)  The treatment/s selected for each risk 
B)  The action items needed to implement the RMP 
C)  Identification of the management and control structures needed to execute the RMP 
D)  A list of resources the program needs 
E)  A review process that involves stakeholders and encourages continuous improvement, innovation and learning

A risk falling within a yellow zone on a heat map needs to be monitored closely, because it could:

A fire started by lightning that burns down an organisation's business premises is an example of:

A fall in consumer demand for an organisation's products due to people spending less that causes the business to make less profit is an example of an external risk related to:

What is the first step in developing a solid risk management framework (RMF)?

Risk management is about avoiding risks, where possible, and dealing with them on an ad hoc, case-by-case basis.

Who in an organisation is responsible for identifying and managing risk?

While social media has been an effective marketing tool in promoting organisations and their products and services, it also comes with high risk due to the lack of control an organisation has in relation to the speed with which it can damage an organisation's brand, image and reputation.

An organisation in which the same risk may be dealt with differently in different areas of the organisation, or one area may unintentionally undermine the efforts of another area, would be said to have:

Which of the following would not be included in a risk management plan (RMP) in relation to a specific risk?

What is the final component of a documented risk management plan (RMP)?

The Changing World of Work

The Operating Environment

The Formal Organisation

The Informal Organisation

Establishing and Managing Priorities

Building a Strong Communication Foundation

Strengthening Your Personal Skills

Building Effective Working Relationships

Understanding Leadership

Understanding Motivation, Engagement and Retention

Increasing Performance and Productivity

Assigning Work and Delegating Duties

Building Productive Work Teams

Leading Todays Teams

Providing Formal and Informal Performance Feedback

Managing Underperformance

Developing, Managing and Monitoring Operational Plans

Solving Problems and Making Decisions

Satisfying the Quality, Innovation and Continuous Improvement Imperatives

Caring for Customers

Planning and Managing Projects

Introducing and Managing Change

Managing for Sustainability

Recruiting and Inducting Employees

Making the Most of Diversity

Encouraging a Learning Environment and Developing Employees

Leading and Attending Meetings

Ensuring a Safe and Healthy Workplace

Managing for Psychological Safety and Well-Being

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Exam 23: Identifying and Managing Risks

A risk falling within a yellow zone on a heat map needs to be monitored closely, because it could:

A fire started by lightning that burns down an organisation's business premises is an example of:

A fall in consumer demand for an organisation's products due to people spending less that causes the business to make less profit is an example of an external risk related to:

What is the first step in developing a solid risk management framework (RMF)?

Risk management is about avoiding risks, where possible, and dealing with them on an ad hoc, case-by-case basis.

Who in an organisation is responsible for identifying and managing risk?

While social media has been an effective marketing tool in promoting organisations and their products and services, it also comes with high risk due to the lack of control an organisation has in relation to the speed with which it can damage an organisation's brand, image and reputation.

An organisation in which the same risk may be dealt with differently in different areas of the organisation, or one area may unintentionally undermine the efforts of another area, would be said to have:

Which of the following would not be included in a risk management plan (RMP) in relation to a specific risk?

What is the final component of a documented risk management plan (RMP)?

The Changing World of Work

The Operating Environment

The Formal Organisation

The Informal Organisation

Establishing and Managing Priorities

Building a Strong Communication Foundation

Strengthening Your Personal Skills

Building Effective Working Relationships

Understanding Leadership

Understanding Motivation, Engagement and Retention

Increasing Performance and Productivity

Assigning Work and Delegating Duties

Building Productive Work Teams

Leading Todays Teams

Providing Formal and Informal Performance Feedback

Managing Underperformance

Developing, Managing and Monitoring Operational Plans

Solving Problems and Making Decisions

Satisfying the Quality, Innovation and Continuous Improvement Imperatives

Caring for Customers

Planning and Managing Projects

Introducing and Managing Change

Managing for Sustainability

Recruiting and Inducting Employees

Making the Most of Diversity

Encouraging a Learning Environment and Developing Employees

Leading and Attending Meetings

Ensuring a Safe and Healthy Workplace

Managing for Psychological Safety and Well-Being

Filters