What principle is supported by early warning indicators?
A. Engages stakeholders
B. Fits the context
C. Aligns with objectives
D. Informs decision-making
What is an issue?
A. An uncertain event that may occur in the future
B. An outcome perceived as negative by one or more stakeholders
C. An intangible artefact produced as a result of a planned activity
D. A relevant event that has happened requiring management action
Which is used to determine 'inherent' risk exposure?
A. Impact of a secondary risk if it occurs
B. Likelihood of a risk occurring after completed risk response actions
C. Effect on objectives if a risk occurs before starting to tackle risks
D. Proximity of a risk after implementation of risk response actions
Which is NOT a method for obtaining senior management commitment and support for understanding and managing risk?
A. Having a board-level sponsor defined and communicated to all staff
B. Undertaking qualitative and quantitative assessment of risks
C. Communicating risk management successes
D. Having risk delivery linked to performance objectives
Which is used to review how well an organization has embedded M_o_R?
A. Risk improvement plan
B. Monetary benefit measurement
C. Risk management health check
D. Early warning indicators
Which is a responsibility of the M_o_R manager role?
A. Define risk tolerance thresholds
B. Prepares risk workshop materials
C. Defines how much risk should be taken
D. Ensures a risk review process is in operation
What are the M_o_R principles informed by?
A. Corporate governance principles
B. Statement of internal control
C. M_o_R approach
D. Basel II
Which step has a goal of checking the success of risk responses?
A. Plan
B. Assess - evaluate
C. Implement
D. Assess estimate
Identify the missing words in the following sentence. The primary outcome of the [ ? ] principle is that organizations learn from their mistakes.
A. achieves measurable value
B. provides clear guidance
C. creates a supportive culture
D. facilitates continual improvement
What principle promotes dialogue with affected parties in a timely manner to help achieve organizational objectives?
A. Achieves measurable value
B. Aligns with objectives
C. Engages stakeholders
D. Fits the context
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