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Involves identifying, and mitigating risks to minimize potential losses and optimize decision-making in various domains such as finance, and insurance.
The interests of the various security holders are the same.
Risk is a consequence of uncertainty.
When assets are physically protected, they are more likely to be stolen.
Find the expected value with the following: Choice A: P 300.00 Choice B: 70% chance of P300.00, 30% chance of P0.00 EV= ?
Risk Premiums vary with specific issuers and issue characteristics including:
Enterprise Risk Management (ERM) replaced traditional risk management (TRM), it expands upon TRM’s practices and techniques to consider more risks and offer additional solutions to finance or manage them.
A reporting process should be in place to solicit input on potential fraud.
Includes controls within IT processes support, such as program development and changes.
Actual outcomes for an event or situation often the same with that of expected outcomes.
_____________________ involves prevention (reducing the likelihood that the risk will occur) or mitigation, which is reducing the impact it will have if it does occur.
The culture of a group arises from the repeated behaviour of its members.
It is the transfer of live transactions to an off-site facility.
It is a general way of classifying risk preferences.
To get any of these sites up and running quickly, the organization must be able to move data into the new site’s systems.
Crisis management is a set of focused steps that deal primarily with the people involved taken during and after a disaster.
Corporate Governance is at the intersection of strategy, control and finance
The best risk control measure is assessment.
What is the last step in risk management process?
Immediate determination of the scope of the breach of confidentiality, integrity, and availability of information and information assets is called loss of confidence.
Which of the following is the first step in risk management process?
Those who fear loss and seek sureness.
Real Options theory provides a means of estimating financial value of flexibility.
Hazard Management is the responsibility of both employees and management.
Gamble is defined as the relative variation of actual loss from expected loss can be statistically calculated by some measure of dispersion.
Integrate RM into all phases of missions and activities is not one of the RM principles.
Successive anonymous questionnaires on project risks with responses summarized for further analysis is known as root cause analysis.
If an organization gradually formalizes its risk management process and develops a risk culture, it will become more resistant to change.
Find the expected value with the following: Choice A: P 150.00 Choice B: 60% chance of P150.00, 40% chance of P0.00 EV= ?
When a bidder makes an offer for another, it will usually inform the board of the target beforehand. If the board feels that the value that the shareholders will get will be greatest by accepting the offer, it will recommend the offer be accepted by the shareholders, this is known as "Friendly Takeover".
Fraud investigations are fact-finding missions.
Corporate Governance is a primary driver of firm specific and market risk in valuation approaches.
All are information gathering techniques except for:
Another risk management process that will show you where to spend your time and money, and allow your team to prioritize their resources.
Catastrophic, critical, moderate, and negligible describe in the risk assessment matrix as level of severity of an adverse event's effect.
The value of any asset is the Present Value of all future cash flows it is expected to provide over the relevant time period.
These are hazards such as fire, earthquakes, volcanic eruptions, floods, and storms.
The best method of controlling a risk is to eliminate the hazard.
Find the expected value with the following: Choice A: P 250.00 Choice B: 60% chance of P250.00, 40% chance of P0.00 EV= ?
Provides information about systems/threats and detailed scenarios for each potential attack.
Two key tasks of crisis management team:
Statistics—a mathematical statement about the likelihood that harm will be suffered from a hazard.
Risk Management includes maximizing the results of positive risks and minimizing the consequences of negative events.
______________ are singe-cell organisms that are found everywhere.
Interests of agents (management) are the same with those of security holders, particularly from those of stockholders.
Business has many risks but it can't be avoided at all.
Which of the following is not part of the policy?
The process involved with identifying, analyzing, and responding to risk is called Operations Management.
Fully configured computer facility with all services are called _____________________.
The risks which can be recovered are called ______________________.
Which of the following is an example of neurotoxins?
Project problems can be reduced as much as 90% by using risk analysis.
_________________ are smaller than bacteria and work by invading a cell and taking over its genetic machinery to copy themselves.
Corporate governance deals with the ways in which suppliers of finance to corporations assure themselves of getting a return on their investment.
It is a measure of the individual's implicit preference, for each policy in the risk environment.
Which of the following is considered to be part of the external organization?
When a manager lacks perfect information or whenever an information asymmetry exists, risk arises.
The following are the core values of the OECD corporate governance framework except for:
At an extreme level, the effects of fraud can even shut down a company.
Risk assessment is the process of using statistical methods to estimate how much harm a particular hazard can cause to human health or to the environment.
Which of the following is not a purpose of a Corporation?
A ___________________ is the amount paid by a (risk averse) individual to avoid risk
The hierarchy of controls is simply a list of the 5 best control measures, in order of priority.
Any situation or circumstance in which a loss is possible, regardless of whether a loss occurs is called loss avoidance.
Affect overall control environment.
These are chemicals or forms of radiation that cause mutations, or changes, in the DNA molecules found in cells, or that increase the frequency of such changes.
Preference theory is based on the notion that individual attitudes towards risk vary.
Which is not a tool used in risk management?
___________________________ is the “set of encouraged and acceptable behaviors, discussions, decisions and attitudes toward taking and managing risk within an institution.
A contingency plan includes the following except:
It is one of risk categories that includes fires of injuries.
The corporate governance framework should ensure that timely and accurate disclosure is made on all material matters regarding the company, including its financial situation, performance, ownership, and governance structure, it is known as transparency.
It is the uncertainty about a consequence.
It is not necessary to have a written policy to convey the expectation of the board of directors and top management regarding managing fraud risk.
Find the expected value with the following: Choice A: P 200.00 Choice B: 70% chance of P150.00, 30% chance of P0.00 EV= ?
Managers who follow utility theory analyze the size and nature of the risk involved in choosing a particular course of action.
Good risk management doesn’t have to be resource intensive or difficult for organizations to undertake or insurance brokers to provide to their clients.
Which of the following is not a type of hazards?
These are rules and systems to carry out the work.
How can hazards be identified?
Find the expected value with the following: Choice A: P 500.00 Choice B: 60% chance of P500.00, 40% chance of P0.00 EV= ?
The following are components of Contingency Planning except:
It is something that has the potential to cause harm to people, property or the environment.
Prevention techniques should be established to uncover fraud events when preventive measures fail or unmitigated risks are realized.
Insufficient working capital results in
If we have perfect certainty, we still have risk.
The following are causes of business risk except:
A key question for any risk assessment is how exactly you are going to identify the risks.
It is the last line of defense against a hazard, so while it shouldn't be your first choice when controlling risks, it can give added protection for any remaining level of risk, or should other controls fail.
Only rudimentary services and facilities kept in readiness.
Business risk can be defined as uncertainties or unexpected events, which are beyond control.
The following influences organizational culture except for:
Corporate Governance structures include the following except:
Categorize the risks to make them easier to handle.
Substitutions are usually fixed temporary or permanent controls.
A successful risk assessment must check existing controls, and assess if more should be done to prevent harm.
Which of the following best describes the primary objective of a fraud investigation?
Timeshares are like an exclusive use site and are owned.
Corporate structure is a system of relationships, defined by structures and process.
The business corporation is an instrument through which capital is assembled for the activities of producing and distributing goods and services and making investments.
These are chemicals that cause harm or birth defects to a fetus or embryo.
Diagram that describes a decision and probabilities associated with the choices is called quantitative risk analysis.
Strategic risk includes the following except:
Business continuity planning ensures that critical business functions can continue if a disaster occurs.
A decision is “Pareto optimal” (or efficient solution) if it is not dominated by any other decision.
Another category of risk that includes turnover and supplier failure.
What is the first phase in Project Management?
Which of the following is not one of the characteristics if a corporate form of business organization?
These are chemicals, types of radiation, or certain viruses that can cause or promote cancer.
Whether the risk is insurable or non-insurable, only the loss can be shared but the risk remains.
Crisis management team manages event through:
An effective system of internal controls should exist in all organizations to:
The greatest risk from exposure to low levels of arsenic is brain damage in fetuses and young children.
The amount of acceptable risk is called risk adverse.
Risk response includes mitigation & contingency plans.
Decision trees are the less powerful analysis tool.
.If there is a ready market for the resale of stolen goods (such as for most types of consumer electronics), this presents an increased temptation to engage in fraud.
Fraud risk exposure should be assessed periodically to identify potential events the organization should mitigate.
It is a bulk batch-transfer of data to an off-site facility.
_____________________ the risk means deciding that some risks are inherent in doing business and that the benefits of an activity outweigh the potential risks.
Separation of ownership and control implies agency relationships.
}Corporate Governance is at the intersection of strategy, control and finance
Embedded within business process applications, such as accounting software.
Find the expected utility with the following:
A risk management process that is based on experience and internal history.
Those that are indifferent to uncertainty.
The contingency plans should ensure that interfacing systems are identified and contingency/disaster planning coordinated.
_______________________ involves giving responsibility for any negative outcomes to another party, as is the case when an organization purchases insurance.
A risk is the probability of suffering harm from a hazard that can cause the following except:
Uncertainty means having only one potential outcome for an event or a situation
The risk of fraud declines dramatically if multiple employees are involved in different phases of a transaction, since fraud requires the collusion of at least two people.
Business risk is the possibilities a company will have lower than anticipated profits or experience a loss rather than taking a profit.
Investors must be compensated for accepting greater risk with low expected returns.
Fraud risk assessment is where techniques should be established to avoid fraud risk events and mitigate impact on the organization.
Which of the following is not part of the economic organization?
The corporate governance framework should protect shareholder rights and ensure the equitable treatment of all shareholders, including minority and foreign shareholders, is known as responsibility.
A pathogen is an organism that can cause disease in another organism.
A condition of certainty exists when the decision-maker knows with reasonable certainty what the alternatives are, what conditions are associated with each alternative, and the outcome of each alternative.
Thyroid disrupters cause growth, weight, brain, and behavioral disorders.
The cause and effect relationships are not known and the future is highly unpredictable under conditions of certainty.
The corporate governance framework should recognize the rights of stakeholders as established by law, and encourage active co-operation between corporations and stakeholders in creating wealth, jobs, and the sustainability of financially sound enterprises, it is known as fairness.
A risk-adverse person leans away from risk, seeking as much security as possible.
Risk is anchored on a continuum of maximizing value and minimizing losses.
Flexibility typically has value by acting as a way to lessen the negative impacts of uncertainty.
The overall planning for unexpected events is called________________________________.
These are hazards such as unsafe working conditions, unsafe highways, criminal assault, and poverty.
To _______________ a risk, the organization simply has to not participate in that activity.
All are part of the internal organization except:
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