New definition of risk under ISO 31000 and 31010 is:

• A.Danger that injury, damage, or loss will occur
• B.Possibility of investment loss
• C.Probability of loss to an insurer
• D.Probability of an event that will have an impact on objectives

Comment: *

Name: *

Email: *

Verification: *

Risk management is systematic, structured, and timely.

• A.True
• B.False

Comment: *

Name: *

Email: *

Verification: *

What is typically the day-to-day responsibility of a Chief Risk Officer within a large organisation?

• A.Ensuring that all key risks are adequately managed and reported.
• B.Preparing and maintaining individual insurance arrangements
• C.Producing policies on compliance matters
• D.Providing assurance that individual risk management processes are effective.

Comment: *

Name: *

Email: *

Verification: *

Understanding the potential causes of risk events will primarily help an organisation to

• A.comply with corporate governance standards.
• B.eliminate all risks
• C.improve internal audit procedures.
• D.reduce the frequency of loss.

Comment: *

Name: *

Email: *

Verification: *

What could a financial organisation make primary use of, to assess whether its risk management systems are likely to fail?

• A.Key control indicators.
• B.Key risk indicators.
• C.Silo-based risk management.
• D.Physical inspections.

Comment: *

Name: *

Email: *

Verification: *