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21 RMC

Authored by Remil Yabut

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Professional Development

21 RMC
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does RASP stand for in the context of risk management?

Risk Assessment and Security Protocol

Risk Architecture, Strategy, and Protocols

Risk Analysis and Strategic Planning

Risk Allocation and Safety Procedures

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to British Standard BS 31100, what should be included in the risk management framework?

Risk assessment procedures and control objectives

Risk response plans and improvement recommendations

Objectives, mandate, and commitment to manage risk

Event reports and monitoring reports

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the most important component of the Risk Management Policy?

Risk performance and monitoring reports

Risk management policy statement

Risk management roles and responsibilities

Risk assessment procedures

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of the Risk Architecture in an organization?

To set out lines of communication for reporting on risk management issues

To establish risk management responsibilities

To define the risk management strategy

To produce risk management guidelines

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important for an organization to update the risk management manual annually?

To align risk management activities with current best practice

To reduce the burden of record-keeping

To avoid cooperation between risk management and internal audit

To eliminate the need for risk registers

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of a risk register in an organization?

To set out lines of communication for reporting on risk management issues

To establish risk management responsibilities

To record information on current controls and intended additional controls

To define the risk management strategy

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the relationship between Risk Management and Internal Audit?

Both focus on risk assessment and identification

Successful implementation requires close cooperation and understanding

Internal Audit evaluates controls while Risk Management tests efficiency

Internal Audit identifies risks while Risk Management implements controls

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