All the answers below are reasons for performing risk management EXCEPT. O a. Planning for known and unknown events O b. Ensure the occurrence of opportunities O c. Elimination of issues O d. Reduce the impact of threats
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A: EXPLANATION : Control risk refers to the risk that the arrangements of the internal control would…
Q: Generally speaking for high frequency low severity events, the optimal risk management strategy is…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: What are the strategies for dealing with positive risks? A. Avoid, mitigate, transfer, accept B.…
A: Positive risks are opportunities that could happen on your project. The strategies for dealing with…
Q: Decision making is only used to maximise profit or minimise costs Select one: O True O False…
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Q: ance Risk monitoring None of the choices
A: Risk Management Processes
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A: Business environment refers to those aspects of the business surrounding that influences the…
Q: Choose the stakeholder that is MOST likely to ask the following question. Will the business be able…
A: Here, I would choose an appropriate stakeholder, who will ask questions like whether the business…
Q: Which of the following risk responses is not considered risk transfer? a. Joining a third-party…
A: Risk management is an organized and vital cycle that includes distinguishing, surveying, and…
Q: Companies that are developing a formalized risk management process are encouraged to develop a risk…
A: For businesses to detect possible risks and vulnerabilities, evaluate their potential effect, and…
Q: one of those stages:
A: For everyday business use, you can apply the following three simple steps to :- Identify risks —…
Q: Which of the following best defines risk management? * A physical feature or operational…
A: Risk management defines as:
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A: The scenario involves a property management company that charges a security deposit of one month's…
Q: A requirement for scientific work is that what we have done can be reproducible, which means that…
A: Risk Assessment:- Risk assessment to take a good look at your workplace to find those things,…
Q: Scenario planning is about: O Preparing for scenarios that are highly impactful and/or uncertain O…
A: Leaders can notice warning signals of emerging issues and react appropriately if they raise…
Q: Which generic risk strategy is the company adopting in this scenario?
A: A strategic risk management is part of strategic planning. According to the generic strategy, there…
Q: Using the basic risk management matrix, explain the following: a. When would you buy insurance? b.…
A: Risk management matrix is a matrix used by the company to depict the risk and to manage it properly…
Q: Match the appropriate Risk Management Document with the description The document with the purpose of…
A: Risk management is the process of making and carrying out decisions that will minimize the adverse…
Q: Risks caused by natural or manmade disasters, and therefore impossible to reliably predict, are…
A: Risks caused by natural or manmade disasters, and therefore impossible to reliably predict, are…
Q: Safer investments will generally: a.Deliver consistently higher returns b.Generate much better…
A: Financial management is a significant part of running any association, whether it's a business,…
Q: Which of the following risk responses where management is of status quo standing in their current…
A: Risk sharing generally means that the premiums and losses of each member of a group of policyholders…
Q: An emerging issue in the practice of risk management is that, based on a study, there is no…
A: Risk management focuses on identifying, evaluating, coordinating, and prioritizing the risk under…
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Q: Organizing a Risk Analysis. You are the director of internal auditing of a large municipal hospital.…
A: Internal audit’s main objective is to supply assistance to the management and therefore the BOD…
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A: Risk is an important term associated with organizations and environment. It indicates the likelihood…
Q: From a risk management perspective, what are possible interpretations of 'probability'?
A: Risk management is described as the process of control, assessment, and identification of the…
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A: That expression "assessment of risk" refers to the total method whereby you analyze risks.…
Q: You are a risk manager of a school bus company in Hong Kong, your boss owns over 1,000 school buses.…
A: Suppose I am a risk manager of a school bus in Hong Kong and we own almost 1000 school buses during…
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A: Covid-19 outbreak lead to the deadlist environment in the society. Millions of people got infected…
Q: Under the COSO framework, the Enterprise Risk Management provides value creation by enabling the…
A: Risk is present even in the smallest decisions that businesses make and risks are seen as a very…
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- What are the strategies for dealing with positive risks?A. Avoid, mitigate, transfer, acceptB. Transfer, mitigate, avoid, exploitC. Exploit, share, enhance, acceptD. Mitigate, enhance, exploit, accept In which process do you create the Risk Breakdown Structure?A. Risk IdentificationB. Risk Response PlanningC. Qualitative AnalysisD. Risk Management Planning3. Following COSO Framework, the board's responsibilities for effective reporting of risks should include which of the following? a. Inserting specific engagements relating to risk management into the annual audit plan b. Assuring success in management of key risks c. Selecting the specific techniques regarding event identification to be considered in the risk management process d. Regularly reviewing the key risks against risk appetiteWith regards to the attached, evaluate the use of the risk status reporting as a risk management tool.
- Under the COSO framework, the Enterprise Risk Management provides value creation by enabling the management through the following, except A. By avoiding to make decision on risks that are assessed to have a higher impact on its operation. B. Responding in a manner that reduces the likelihood of downside outcomes and increases the upside. C. None of the choices given D. Dealing effectively with potential future events that create uncertaintyIn 5 to 8 sentences, answer the question: Am I a risk taker or am I risk averse? Since risk is inherent, what actions do you do to minimize the impact of risk in your daily activities? Provide a concrete example or situation and discuss how you minimize the risks present. Definition of Terms:• Risk• Risk Management• Uncertainty• Risk averse• Risk tolerance• Mitigated Risk• Risk analysis• Risk avoidance• Probability• ConsequenceYou have identified a large number of risks during your risk identification process. What will be your next step? A. You will prioritize them using the Qualitative Risk Analysis process B. Go for the Quantitative Risk Analysis C. You develop a Risk Management Plan D. You develop a Risk Response Plan E. You will develop a Risk Monitor Plan F. None of the above.
- Generally speaking for high frequency low severity events, the optimal risk management strategy is to _________. Assume you are interviewing for a risk manager job at a very large, unique organization. Given that the organization is the only one of its kind on Earth, it is not part of any industry. The organization employs over 100,000 workers in 100 different countries. (1) Give three reasons for this organization to use a captive. (2) Describe a specific captive arrangement that would allow the organization to manage its risks while achieving the most benefits.Risk is present in every business decision. In information security it is often said that you cannot protect everything. What are the critical steps in understanding risk and employing risk mitigation practices? Be sure to address:- Risk Identification and prioritization- Discuss the steps in Risk Assessment- The importance in documenting resultsMatch the appropriate Risk Management Document with the description The document with the purpose of guidng risk managment decision making Risk Management Cost of Risk Assessement The document which outlines the fundumental guidelines of risk mangement within the enterprise Risk Management Policy Statement (RMPS) The document which is clear, concise and preferablly short Risk Management Mission Statement (RMMS) Standard Operating Procedure (SOP) The more detailed document which may include explicit instructions to a person performing the function The document which is developed through the risk management function, but circulated and communicated through the enterprise >
- Pls help ASAPDiscuss the requirement for a basic integrated risk management with proper example.Within the context of insurance companies, risk management mainly focuses on: Select one: a. Ensuring premiums invested yield planned rate of return b. Reducing the high frequency of insurance claims c. Loss prevention and mitigation d. Prevent underwriting risk