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WorksheetsEnterprise Risk Management
Total questions: 27
Worksheet time: 20mins
What are the 5 phases of Third Party Risk Management (choose the correct order)?
Planning, Termination, Due Diligence, Contracting, Monitoring
Planning, Due Diligence, Contracting, Monitoring, Termination
Monitoring, Planning, Due Diligence, Contracting, Termination
Contracting, Planning, Due Diligence, Monitoring, Termination
Who is responsible for risk management?
Risk Managers
Top Management
Everyone in the business
Internal Audit
is a tool that helps you visualize the probability vs the severity of the potential risk
(a)
it measures how much you can withstand negative performance in your investment
(a)
True or False: Risk management is only about analysing the probability of negative events happening.
True
False
summarizes the uncertainties and risks a company faces when it attempts to do its day-to-day business activities within a given field or industry.
is the possibility that an individual or other entity will experience losses due to factors that affect the overall performance of investments in the financial markets.
covers the volatility that may accompany interest rate fluctuations due to fundamental factors, such as central bank announcements related to changes in monetary policy.
covers the changing prices of commodities
When the risk event has a low probability of occurrence and low impact
When the risk event is unacceptable -- generally one with a very high probability of occurrence and high impact
When it can be transferred by purchasing insurance
A risk event can never be avoided
What is the purpose of a risk assessment?
To generate more paperwork
Create work for the designated safety officers
Proportion blame in the event of an accident occurring
To evaluate hazards and to minimise the levels of its risk
When do you perform Risk Identification?
At the beginning of a project.
During project planning.
During the whole lifetime of a project.
During project execution.
Deviation from our expectation: it could be positive or negative
Risk Event
Effect
Cause
Risk
Which of the following is not an effect?
We might not deliver our services on time.
We could lose our reputation.
It would help us become productive.
We would fail in achieving our SLA.
Risk appetite is the amount of risk an entity is willing to take entirely. Which of these following statements is TRUE ?
There is fixed amount on risk appetite.
Risk appetites change due to changing market environment.
Risk appetite reflects the attitude towards risk mitigation.
A larger risk appetite indicates that a bank is taking smaller risks.
Every organization has ‘lines of defense’ to protect themselves from risks/threats.
How many lines of defense does an organization typically have?
2
4
3
5
Name the 2nd line of defense in LIB.
Internal Audit
Department’s Risk & Compliance Coordinator
Enterprise Risk Management & Compliance Assurance
External Auditor
What are some of the emerging risks that would have a significant impact on LIB?
I. Cyber risk
II. Reputational risk
III. Regulatory risk
IV. Climate risk
I, IV
I, II, III
II, III, IV
I, II, III, IV
about processes that are designed to be enacted after a disaster has occurred
(a)
How many players are there in a cricket team?
(a)
Which is the largest internal organ in the human body?
The Brain
The heart
The Kidney
The Liver
Which animal does not drink water at all?
Camel
Kangaroo rat
Crocodile
Octopus
Starfish
How many hearts does an octopus have?
1
3
2
5
10
Which organ purifies our blood?
Pancreas
Liver
Kidney
Lungs
Heart
I'm tall when I'm young. I'm short when I'm old. Who am I?
Age
Candle
Human being
Tree
Complete this common saying: "Where there's a will, there's _______."
a way
a goal
a road
a widow
is a cyber attack targeting a software vulnerability which is unknown to the software vendor or to antivirus vendors.
zero-day (0day) exploit
Crackers
Hackers
Malware
Which of the following statements about "Think twice, click once" is TRUE?
Do not commit to anything online until you have considered it and the impact on you
Once all points have been considered, reconsider before you act – think before you click!
All of the Choices
None of the above
is a strategic business discipline that support the achievement of an organization of objectives
(a)
