ARM 400 Exam Questions with 100% Correct Answers (Latest 2023)

Big Data Correct Answer Set of data that are too large to be gathered and analysed by traditional data. Strategic Redeployment Plan Correct Answer a comprehensive plan for resiliency after a severe disruption Business Impact Analysis (BIA) Correct Answer assesses identified risks and determines their overall effect on the firm's ability to meet its key objectives Risk Managers Correct Answer identify, evaluate and treat risks within stated risk appetites and risk tolerances. The risk management team monitors and reports on risk management activities. Privacy Impact Assessment (PIA) Correct Answer defines what data is private and identifies the risk to that data. 4 Data Governance Goals Correct Answer Accuracy; Validity; Timeliness; Completeness Board of Directors Correct Answer sets the firms risk appetite and stays aware of significant risks. They also determine the amount and types of risk the firm will pursue, retain, reduce and avoid. Corporate Governance Codes Correct Answer developed by governments and business oversight organisations to provide broad guidance to corporate boards and management. 3 Most Important Corporate Board Committees Correct Answer Audit Committee; Compensation Committee; Nominations/Corporate Governance Committee Monitoring Costs Correct Answer the costs of overseeing corporate decision makers (shareholders bear most of these costs) Bonding Costs Correct Answer are the managers costs of demonstrating that they are serving the shareholders interests (managers bear most of these costs) Incentive Alignment Costs Correct Answer costs of lost value because managers interest of never perfectly aligned with shareholders' interest (shareholders bear most of these costs)