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Operations Risk Management WebXam Review

Authored by Tonya Brooks

Business

11th Grade

Used 1+ times

Operations Risk Management WebXam Review
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20 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

Which of the following is an example of a routine operational failure?

Fraud

Execution error

Acts of nature

Conscious violation of professional ethics

2.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

What is a non-routine operational failure?

Processing failure

Accident

Fraud

Execution error

3.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

Which of the following factors can increase the risk of operational failure?

Well-documented procedures

Lack of employee training

Use of automation

Regular audits

4.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

Which strategy is commonly used to reduce the risk of routine operational failures?

Ignoring errors

Implementing checklists

Reducing communication

Increasing manual processes

5.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

Which of the following is an operational risk factor associated with launching a new product?

Established market presence

Familiar processes

Unfamiliar systems

Routine tasks

6.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

What is the importance of planning for catastrophic risk in operations?

To increase daily workload

To ensure business continuity during emergencies

To reduce employee benefits

To avoid routine tasks

7.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

Compare the costs of routine operational failures with non-routine operational failures.

Routine failures usually have higher costs than non-routine failures.

Non-routine failures often result in higher costs and more severe consequences.

Both have the same costs.

Routine failures are always more severe.

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