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Risk Management Fundamentals Exam Questions With Verified Answers

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RISK MANAGEMENT FUNDAMENTALS EXAM QUESTIONS WITH VERIFIED ANSWERS

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RISK MANAGEMENT FUNDAMENTALS
EXAM QUESTIONS WITH VERIFIED
ANSWERS

Risk ny- nyANSWERS-likelihood nyof nya nyloss nyoccurring. ny= nyThreat nyx
nyVulnerability


Threat ny- nyANSWERS-any nyactivity nythat nyrepresents nypossible nydanger

vulnerability ny- nyANSWERS-a nyweakness; nyprocedural, nytechnical, nyor
nyadministrative


Loss ny- nyANSWERS-results nyin nya nycompromise nyto nybusiness nyfunctions nyor
nyassets. nyOccurs nywhen nya nythreat nyexposes nya nyvulnerability


What nyare nyrisk nyrelated nyconcerns nyfor nybusinesses? ny- nyANSWERS-
Compromise nyof nybusiness nyfunctions, nyassets, nydriver nyof nybusiness nycosts, nyand
nyprofitability nyvs nysurvivability


Business nyfunction ny- nyANSWERS-activities nyor nythe
work nythat nya nybusiness nyunit nyor nyrole nyperforms nyto nysell nyproducts/services.

Business nyAssets ny- nyANSWERS-is nyanything nywith nya nymeasurable nyvalue nyto nya
nycompany. nyTangible nyor nyintangible.


A nycompany nysells nyproduct nyvia nya nywebsite. nyRevenue nyis ny$5000 nyper nyhour.
nyIf nythe nywebsite nyfails nyfor ny2 nyhours nywhat nyis nythe nytangible nyand nyintangible
nyloss nyassuming nythat nythe nyrepair nycost nyis ny$1000. nyWhat nyis nythe nytangible
nyand nyintangible nyvalue? ny- nyANSWERS-Tangiblevalue=$5,000*2+$1,000=$11,000
• nyIntangibleValue:
- nyFuture nylost nyrevenue
- nyCost nyof nygaining nya nycustomer
- nyCustomer nyinfluence

Tangible nyvalue ny- nyANSWERS-the nyactual nycost nyof nythe nyasset.
nyTangiblevalue=lostrevenue+Repaircost


Intangible nyvalue ny- nyANSWERS-value nythat nycan't nybe nymeasured nyby nycost nyfor
nyfuture nyloss nyof nyrevenue, nycost nyof nygaining nya nycustomer, nyand nycustomer
nyinfluence.


Driver nyof nybusiness nycost ny- nyANSWERS-Risk nycan nydrive nybusiness nycosts nydue
nyto nycosts nyassociated nywith nymanaging nyrisk nyby nyimplementing
nycontrols/countermeasures.

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