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What are risks related to the overall strategy and objectives of an organization called?

• Financial Risks

• Operational Risks

• Strategic Risks

• Compliance Risks

Which of the following is NOT a type of financial risk?

• Credit risk

• Market risk

• Reputational risk

• Currency risk

Risks associated with day-to-day operations of a business are known as:

• Strategic Risks

• Operational Risks

• Financial Risks

• Environmental Risks

Which category of risks includes potential non-compliance with laws and regulations? A) B) C) D) Answer: D) Compliance and Legal Risks

• Operational Risks

• Financial Risks

• Strategic Risks

• Compliance and Legal Risks

What type of risk is primarily concerned with an organization's image and public perception?

• Reputational Risks

• Financial Risk

• Operational Risk

• Strategic Risk

Data breaches and cyber-attacks fall under which category of risks?

• Operational Risks

• Technology and Cyber Risk

• Compliance and Legal Risk

• Financial Risk

Which risk category is concerned with an organization's impact on the environment and society?

• Operational Risk

• Strategic Risk

• Environmental and Social Risk

• Reputational Risk

What is the primary goal of risk management?

• To eliminate all risks

• To increase profits

• To identify, assess, and control threats to an organization's capital and earnings

• To comply with regulations

Which of the following is NOT a benefit of effective risk management?

• Enhanced decision making

• Cost reduction

• Guaranteed profits

• Improved compliance

How does risk management contribute to an organization's reputation?

• By increasing profits

• By demonstrating commitment to ethical and responsible practices

• By eliminating all risks

• By focusing solely on financial risks