RPP Quiz Competition- Round 1

What is the 3rd step of the ERM process cycle?

• Response & Control

• Assessment

• Identification

• Monitoring

True or False: There are 5 lines of defence.

• True

• False

An example of a risk response category.

• Identify

• Assess

• Monitor

• Reduce

Jane received an email from a fraudster pretending to be the CEO of a legitimate financial institution. Jane is a victim of……............

• Phishing

• Ransomware

• Malware

• Smishing

What does AML stand for?

• Anti-Money Landing

• Anti-Money Loaning

• Anti-Money Laundering

• Anti-Money Liaising

Keisha met Tom, who lives in Nigeria, on a dating app. Tom tells Keisha that he mailed her a gift for her birthday. In order to receive the gift, she gets an anonymous call that she must first make a deposit to an overseas bank account. Keisha is at risk for?

• Phishing

• Money laundering

• Romance fraud

• Ransomware

What does FATF stand for?

• Financial Action Task Force

• Financial Assessment Task Force

• Fundamental Assessment Task Force

• Financial Action Task Fund

Which organization regulates Securities Dealers and Insurance institutions?

• BOJ

• FSC

• JDIC

• JSE

.................................... is the risk remaining after controls are applied.        

• Inherent risk

• Reserve risk

• Required risk

• Residual risk

................is ultimately responsible for managing risks across the group.

• Senior Management

• The CEO

• The Board

• ERM Dept