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Management of Risk Foundation Questions and Answers

Question 17

Which is used to review how well an organization has embedded M_o_R?

Risk improvement plan

Monetary benefit measurement

Risk management health check

Early warning indicators

Question 18

Which is a use of the risk management policy in the 'identify - context' step for an activity?

Recording departures from the risk management process guide

Identifying the activity-specific categories to be used for grouping risks

Providing guidance on setting risk tolerance thresholds

Defining the records to be used

Question 19

Which describes the 'reduce a threat' risk response option?

Perform an action to minimise the impact and/or probability of the risk

Remove the cause of the threat

Obtain an insurance policy to cover the impact should the risk occur

Partake in a pain/gain contract with another party for the specified risk

Question 20

Which specialism has been developed to offer business as usual in the quickest possible time in the event of an emergency?

Incident and crisis management

Business continuity management

Health and safety management

Reputational risk management