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Worksheets2024 Risk Identification Exercise Quiz
Total questions: 10
Worksheet time: 4mins
Which of the following is true about the Operational risk identification exercise?
Operational Risk identification is a careful analysis of risk to apportion blame.
Operational Risk identification should be done in collaboration with every team member to get a vast opinion/view.
Operational Risk identification is done to find out who is at fault.
Operational Risk identification exercise entails identifying risk and assigning blames.
The following are elements that must be considered when defining a Risk except?
Root Cause
Incident
Severity
Impact
It is possible for a risk to have more than one impact.
True
False
I don't know.
When a risk has more than one impact, what should the risk owner do?
Select the risk with the highest Value.
Select the risk with the highest severity.
Use best of judgement
Seek expert judgement.
The frequency assessment table can be customized.
True
False
I don't know
The Severity assessment table is common to all AXA entities.
True
False
I don't know
A black risk is the following except?
Mission Critical
Above the risk appetite
Should not exist.
Requires soft action.
The risk grid is the assessment of the criticality of individual risks.
True
False
Ask Efe Denedo
Reputation is ...........
Hard to lose
Easy to earn
Easy to lose
Difficult to tap
Emerging risks are the following except
Complex
not adequately understood.
Ambiguous
Accurately understood
