
Risk and Fraud Analytics unit 1
Authored by Manu Jose
Business
University
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of risk?
The probability of a positive outcome
The possibility of a negative outcome or loss
A certain outcome without any uncertainty
The guarantee of a financial gain
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the difference between risk and uncertainty?
Risk has unknown probabilities, while uncertainty has known probabilities
Risk involves known probabilities, while uncertainty involves unknown probabilities
Risk always leads to loss, while uncertainty leads to gain
Risk and uncertainty are the same
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an internal source of risk?
Market fluctuations
Regulatory changes
Operational inefficiencies
Natural disasters
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an external source of risk?
Human error
System failures
Fraud and embezzlement
Economic downturns
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is risk management important?
To guarantee profits
To eliminate all risks
To safeguard assets and ensure regulatory compliance
To avoid making decisions
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does risk avoidance involve?
Transferring risk to third parties
Implementing measures to minimize risk
Accepting the risk
Eliminating activities that expose the organization to risk
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an example of risk reduction?
A company avoids entering a politically unstable market
Purchasing insurance
Implementing safety programs and regular maintenance
Ignoring minor risks
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