11 Questions
Which of the following is NOT a contribution of Risk Management?
Simplification of business processes
What is the primary objective of Hazard Management?
Making outcomes less negative
What is the focus of Control Management in Risk Management?
Reducing the spread of possible outcomes
Which of the following is a step in the Risk Management Process?
Reviewing of Risks
What is the focus of Opportunity Management in Risk Management?
Making outcomes more positive
What is the result of effective Risk Management?
Greater assurance to organisation’s stakeholders
What is the goal of Risk Identification?
To identify potential risks and hazards
What is the purpose of Risk Analysis?
To evaluate the likelihood and impact of risks
What is the objective of Risk Treatment?
To treat or modify risks
What is the focus of Risk Review?
To review and monitor risks
What is the result of effective Risk Reporting?
More accurate financial reporting
This quiz covers the introduction to risk management, including principles, standards, and definition of risk. It is based on chapters 5 and 6 of 'Fundamentals of Risk Management' by Paul Hopkin.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
