ERM: LESSON 3
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Business
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University
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Practice Problem
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Easy
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38 questions
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1.
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5 sec • 1 pt
Risk of loss resulting from inadequate or failed internal processes,people and systems or from external events.”
2.
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5 sec • 1 pt
It includes legal risk but excludes strategic and reputational risk.
3.
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5 sec • 1 pt
the level of risk that exists in the absence of any controls or mitigation measures.
the level of risk that exists in the absence of any controls or mitigation measures.
4.
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5 sec • 1 pt
It represents the potential for loss or harm before any actions are taken to manage or reduce the risk.
It represents the potential for loss or harm before any actions are taken to manage or reduce the risk.
5.
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5 sec • 1 pt
the level of risk that remains after controls or mitigation measures have been implemented.
the level of risk that remains after controls or mitigation measures have been implemented.
6.
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5 sec • 1 pt
Even after taking steps to reduce or manage inherent risk, some degree of risk typically persists.
Even after taking steps to reduce or manage inherent risk, some degree of risk typically persists.
7.
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5 sec • 1 pt
The process in which potential material risks are identified and recorded along with their related control
The process in which potential material risks are identified and recorded along with their related control
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