2024 Risk Identification Exercise Quiz

2024 Risk Identification Exercise Quiz

Professional Development

10 Qs

quiz-placeholder

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2024 Risk Identification Exercise Quiz

2024 Risk Identification Exercise Quiz

Assessment

Quiz

Other

Professional Development

Hard

Created by

Efe Denedo

Used 4+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is true about the Operational risk identification exercise?

Operational Risk identification is a careful analysis of risk to apportion blame.

Operational Risk identification should be done in collaboration with every team member to get a vast opinion/view.

Operational Risk identification is done to find out who is at fault.

Operational Risk identification exercise entails identifying risk and assigning blames.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The following are elements that must be considered when defining a Risk except?

Root Cause

Incident

Severity

Impact

3.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

It is possible for a risk to have more than one impact.

True

False

I don't know.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a risk has more than one impact, what should the risk owner do?

Select the risk with the highest Value.

Select the risk with the highest severity.

Use best of judgement

Seek expert judgement.

5.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

The frequency assessment table can be customized.

True

False

I don't know

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Severity assessment table is common to all AXA entities.

True

False

I don't know

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

A black risk is the following except?

Mission Critical

Above the risk appetite

Should not exist.

Requires soft action.

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