Finals_Risk Management

What is risk management?

• Avoiding all business risks

• The process of identifying, assessing, and controlling risks

• Creating business risks to gain profit

• Ignoring minor risks

Which of the following is NOT a principle of risk management?

• Risk identification

• Risk ignoring

• Risk assessment

• Risk treatment

Which of the following is a key element of risk management?

• Random guesses

• Ignoring feedback

• Monitoring and review

• Increasing uncertainty

Which of these is a correct step in the risk management process?

• Hiding risk

• Risk assessment

• Risk denial

• Assumption of risk

The term "risk" can be best defined as:

• A guaranteed profit

• Uncertainty of outcomes

• Success without planning

• Predicted failure

Which body's requirements should you be familiar with in enterprise-wide risk management?

• WHO

• UNESCO

• SEC

• UN

What is the final step in the risk management process?

• Risk creation

• Risk mitigation

• Monitoring and review

• Avoidance of responsibility

Which of the following is NOT part of risk treatment?

• Accepting risk

• Sharing risk

• Ignoring risk

• Reducing risk

Which of these is NOT a relevant risk terminology?

• Hazard

• Exposure

• Dividend

• Vulnerability

Enterprise-wide risk management helps organizations to:

• Eliminate all risks

• Improve decision-making

• Avoid planning

• Ignore market trends