Traditional vs Enterprise-Wide Risk Management Quiz
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Questions and Answers

Which type of risk management considers financial and strategic risks in addition to hazard and operational risks?

  • Traditional risk management
  • Strategic risk management
  • Operational risk management
  • Enterprise-wide risk management (correct)

    • What is the main difference between traditional risk management and enterprise-wide risk management regarding risk categories?

  • ERM only considers speculative risks
  • Traditional risk management is concerned with pure risk
  • Traditional risk management focuses on preventing or reducing potential losses
  • ERM considers all risks that an organization faces, regardless of their source or potential outcomes (correct)

    • How is strategic integration different between traditional risk management and enterprise-wide risk management?

  • Traditional risk management is integrated with the entire organization’s strategy
  • Traditional risk management considers both pure and speculative risks
  • ERM is involved only in the elements of the organization’s strategy that deal with pure risk and hazard risks (correct)
  • ERM considers the global array of risks that affect the organization

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