Risk Management Quiz

Risk Management Quiz

12th Grade

98 Qs

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Risk Management Quiz

Risk Management Quiz

Assessment

Passage

Other

12th Grade

Practice Problem

Hard

Created by

HSHS SHHS

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98 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the process of measuring or assessing risk and developing strategies to manage it?

Risk Avoidance

Risk Reduction

Risk Sharing

Risk Management Defined

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to ISO 31000, what is Risk Management?

Avoidance of all risks

Identification, assessment, and prioritization of risks followed by coordinated application of resources

Accepting all risks

Sharing risks with competitors

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of the International Organization of Standardization (ISO)?

Promoting political agendas

Regulating global trade

Providing financial services

Developing international standards for various fields

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the basic principles of Risk Management?

Risk Avoidance, Risk Reduction, Risk Sharing, Risk Retention

Establishing the context, Identifying potential risks, Risk Assessment

Risk Management Defined, Elements of Risk Management, Relevant Risk Terminologies

Risk Assessment, Risk Identification, Risk Treatment, Risk Monitoring

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of Risk Reduction in Risk Management?

To increase the severity of potential losses

To ignore risks and accept all consequences

To optimize risks by finding a balance

To avoid all risks completely

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main focus of Risks Associated with Investments?

Market Risk

Management Risk

Purchasing Power Risk

Financial Risk

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the steps in the Risk Management Process?

Set up a risk management committee, Assess the formal system, Evaluate the effectiveness, Hire experts

Establishing the context, Identifying potential risks, Risk Assessment, Risk Monitoring

Set up a committee, Ensure a formal system, Assess processes, Evaluate effectiveness

Assessing management strategies, Designing risk management capabilities, Monitoring performance

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