Question 31 · 1449 in bank
What is the PRIMARY benefit of risk monitoring?
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Answer: C
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What is the PRIMARY benefit of risk monitoring?
Answer: C
An organization's control environment is MOST effective when:
Answer: C
When reviewing the business continuity plan (BCP) of an online sales order system, a risk practitioner notices that the recovery time objective (RTO) has a shorter time than what is defined in the disaster recovery plan (DRP). Which of the following is the BEST way for the risk practitioner to address this concern?
Answer: D
Which of the following should be the PRIMARY consideration when assessing the risk of using Internet of Things (IoT) devices to collect and process personally identifiable information (PII)?
Answer: C
Agree with C. Laws and regulations could preclude the use of IoT or the collection of PII, so it takes precedence over security, which is definitely a big concern for IoT, but secondary in this case.
Source: Adapted from community discussion — CbtL
During a risk assessment of a financial institution, a risk practitioner discovers that tellers can initiate and approve transactions of significant value. This team is also responsible for ensuring transactions are recorded and balances are reconciled by the end of the day. Which of the following is the risk practitioner's BEST recommendation to mitigate the associated risk?
Answer: C
It is C: Requiring a second level of approval can provide an additional check, but may not fully address the risk associated with having the same person both initiate and approve a transaction.
Source: Adapted from community discussion — Koulyo
Marie has identified a risk event in her project that needs a mitigation response. Her response actually creates a new risk event that must now be analyzed and planned for. What term is given to this newly created risk event?
Answer: B
Secondary risks are the risks that come about as a result of implementing a risk response. This new risk event must be recorded, analyzed, and planned for management. Incorrect Answers: A: A residual risk event is similar to a secondary risk, but is often small in probability and impact, so it may just be accepted. C: Infinitive risk is not a valid project management term. D: Populated risk event is not a valid project management term.
Due to a change in business processes, an identified risk scenario no longer requires mitigation. Which of the following is the MOST important reason the risk should remain in the risk register?
Answer: C
I concur: Option A, "To track historical risk assessment results," is the most important reason the risk should remain in the risk register even though it no longer requires mitigation. Keeping track of historical risk assessment results is important because it helps to identify patterns and trends in risk management over time. This information can be used to improve risk assessment and management processes, and to identify areas that may require additional attention in the future.
Source: Adapted from community discussion — Koulyo
Which of the following matrices is used to specify risk thresholds?
Answer: A
Reviewing which of the following provides the BEST indication of an organization's risk tolerance?
Answer: D
What are the two MAJOR factors to be considered while deciding risk appetite level? Each correct answer represents a part of the solution. (Choose two.)
Answer: AD
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