RQA Bulletin Vol 3

What is Risk Analysis?

• Coordinated activities to direct and control AKPK with regard to risk

• Statement of the overall intentions and direction of AKPK related to risk management

• Process of finding, recognising and describing risk

• Process to comprehend the nature of risk and to determine the level of risk

Which of the following is not the likelihood rating?

• Remote

• Unlikely

• Catastrophic

• Possible

Act that regulates the processing of personal data

• Personal Data Protection Act

• Electronic Commerce Act

• Insolvency Act

• Financial Services Act

What is the risk rating for likelihood (unlikely) and impact (moderate)?

• Low

• Medium

• High

• Extreme

How to manage vendor risk?

• Effective vendor selection and evaluation

• Vendor performance monitoring

• Due diligence

• Determine the gross risk rating