18 Questions
What is the purpose of corrective actions?
To prevent the occurrence of nonconformities
Which term refers to necessary actions taken to address a decline in sales figures compared to pre-determined targets?
Corrective actions
What does risk-based thinking involve?
Considering risk systematically
Which action is associated with preventive actions?
Identifying potential risks
In the context of risk types, what does risk-based thinking emphasize?
Considering risk systematically
What is the primary focus of corrective actions?
Preventing the recurrence of nonconformities
What is one of the key steps in developing a control plan?
Conducting system/design reviews
What is a primary benefit of implementing a control plan?
Reducing waste
What do control plans typically focus on identifying?
Input variables causing variations
Which method is NOT mentioned as a part of the optimization methods for developing a control plan?
Total Quality Management (TQM)
What does a control plan provide a thorough evaluation of during its development?
The product and process
Which characteristic is NOT typically considered during the development of a control plan?
Customer Feedback
What type of risk is associated with mis-selling products or services to customers?
Operational Risk
Which risk type involves unexpected bankruptcy or shutdown of a key vendor?
Bank Support Risk
What is a preventive action against damaging or unfair actions by vendors?
Information Transfer Control
Which risk type involves misuse of authority to embezzle firm’s assets for personal gains?
Third Party Liability
What is a correct preventive measure against delay in submitting mandatory reports to regulators?
Accounting Process Optimization
Which risk type is associated with damage to tangible assets from natural disaster events?
Natural Hazards Risk
Test your knowledge on the definition of corrective and preventive actions in quality management systems. Identify examples of actions taken to prevent recurrence of nonconformities and potential problems.
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