CH- 5 Management and Controls of Risk

Which of the following is a vital dynamic of the risk process?

• One-off risk assessment

• Routine inspections

• Monitoring and reviewing

• Monthly reviews

Which of the following is not a type of control in risk management?

• Preventive

• Corrective

• Proactive

• Detective

What is the primary purpose of implementing measures in risk management?

• To complicate the risk management process

• To avoid responsibility

• To ensure effective control procedures

• To ignore risks

What do detective controls relate to?

• Circumstances before the risk occurs

• Circumstances during the risk occurrence

• Circumstances after the risk has occurred

• None of the above

What is the primary purpose of communication in risk management?

• To increase ambiguity

• To reduce accountability

• To enhance understanding

• To avoid responsibility

Which type of control is relevant to actions taken before the risk occurs?

• Corrective

• Preventive

• Directive

• Detective

What does ALARP stand for in risk management?

• As Low as Reasonably Practicable

• As Low as Relatively Practical

• As Long as Reasonably Practicable

• As Little as Reasonably Possible

What is the significance of ALARP in risk management?

• To eliminate all risks

• To reduce risks to a reasonably practicable level

• To expose individuals to maximum risk

• To accept all risks without control measures

Which types of controls are relevant to loss prevention, damage limitation, and cost containment?

• Preventive and corrective controls

• Preventive and directive controls

• Corrective and detective controls

• Corrective and directive controls

Which of the following is not a method of monitoring in risk management?

• Routine inspections

• Monthly reviews

• Annual audits

• Bulletin alerts