What is the most widely recognized risk management standard?
Risk Management Quiz

Quiz
•
Business
•
12th Grade
•
Easy
Saibah Nusaibah
Used 39+ times
FREE Resource
14 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
British Standard BS 31100
ISO 31000
COSO ERM Cube
IRM Standard
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which framework was replaced by ISO 31000?
COSO ERM Cube
Australian Standard AS 4360
IRM Standard
British Standard BS 31100
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the acronym RASP stand for in risk management context?
Risk Architecture Strategy Protocols
Risk Assessment Strategy Protocols
Risk Analysis Strategy Procedures
Risk Assessment Strategy Procedures
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a component of the COSO ERM Cube?
Monitoring
Risk Response
Risk Identification
Control Activities
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary focus of Enterprise Risk Management (ERM)?
Managing opportunities and hazards
Evaluating financial risks only
Focusing solely on compliance risks
Managing individual risks separately
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which principle of ISO 31000 emphasizes the need for stakeholder involvement?
Risk management is integral to all activities
Risk management is continually improved
Structured and comprehensive approach is required
Appropriate and timely involvement of stakeholders
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the COSO ERM Cube emphasize about risk management?
It focuses only on financial risks
It is a static framework
It is a multidirectional, iterative process
It is a linear process
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