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Enterprise-Level Risk Management Concepts

10 Questions

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Enterprise-Level Risk Management Concepts

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Questions and Answers

What could trigger lockstep movement between risk factors?

Structural changes

Behavioral shifts and industry trends (correct)

Government interventions only

New innovations only

What accelerates structural uncertainty, leading to increased danger?

Increase in the frequency of tail events (correct)

Increase in industry trends

Reduction in risk factors

Decrease in the frequency of tail events

What is one of the biggest structural concerns related to conflicts of interest in risk management?

Managers concealing knowledge for personal gain (correct)

Government interventions

Increase in expected losses

Rogue traders profiting from risk presence

How can conflicts of interest skew risk recognition be combated in risk management?

Implementing a three-step process Signup and view all the answers

Which group is sometimes most aware of various risk factors but may try to profit from them?

Rogue traders Signup and view all the answers

What is the best way to ensure proper functioning of risk recognition and risk management systems according to the text?

Periodic independent audits Signup and view all the answers

What role do frontline employees and division managers play in combating conflicts of interest in risk management?

Risk recognition and management oversight Signup and view all the answers

What is a significant concern related to conflicts of interest in the context of risk management?

Revealing knowledge of risk factors for personal gain Signup and view all the answers

What does the text suggest as the best approach to combat potential conflicts of interest skewing risk recognition?

Robust risk management system with daily oversight Signup and view all the answers

What potential issue arises when individuals conceal knowledge of a risk factor according to the text?

Enhanced personal compensation through stock-based remuneration structures Signup and view all the answers