BCLE 2000 QUESTIONS AND ANSWERS SURE A+
✔✔What is risk management? - ✔✔- Acceptance/tolerance
- prevention/mitigation
- risk retention
- Risk transfer
✔✔What is the risk assessment and management process? - ✔✔1. Organizational
context
2. Risk identification
3. Risk Assessment
4. Risk evaluation
5. Risk treatment
6. Monitoring review and corrective action
7. Communication
✔✔What is enterprise risk? - ✔✔Risks associated with not only Accidental losses, but
also financial strategic operational and other risk
✔✔What is operational risk? - ✔✔Risks associated with internal inadequacies of an
organization or a breakdown of its control, controls operations or procedures
✔✔What is business continuity in regard to risk? - ✔✔Reducing the impacts that occur
when there's a failure and enterprise or operational risk
✔✔what does risk management do? - ✔✔Anticipate risks
✔✔What does business continuity do? - ✔✔Addresses impacts
✔✔What is business interruption insurance? - ✔✔Relates to the requirement for
calculation of adequate insurance, covering financial loss of profits and continued fixed
expenses due to temporary business cessation
, ✔✔what is contingent business interruption insurance? - ✔✔Reimburses loss, profits,
and extra expenses, resulting from an interruption of business at the premises of a
customer or supplier
✔✔What is extra expense Insurance? - ✔✔Pays for the extra expense of maintaining
operations after an accident to an insured item until normal operations can be restored
✔✔What does insurance do for risk? - ✔✔- Transfers risk
- Provide provides finance to recover and rebuild
- Can protect profits
- Can protect against supply chain issues
✔✔What is an annualized loss expectancy? - ✔✔R = F * E
✔✔What is cost of prevention? - ✔✔C = M*P
✔✔What is the professionals role for the business impact analysis? - ✔✔1. Identify and
document the quantitative and qualitative criteria to be used to assess the impact to the
entity resulting from an incident
2. recommend objectives and scope for the business impact analysis process
3. Established the criteria and methodology to be used in conducting the business
impact analysis process
4. Analyze the collected data against the approved criteria to establish a recovery time
objective recovery point objective and resources for each operational area and it's
supporting technology
5. prepare and present the business impact analysis results to leadership. gain
acceptance of the recovery time objectives recovery point objectives and resources as
detailed in the business impact analysis
✔✔ What are the professional practices for BCM? - ✔✔1. program management
2. risk assessment
3. Business impact analysis
4. Business continuity strategies
5. Incident preparedness and response
6. Plan development and implementation.
7. Awareness and training programs.
8. Business continuity, plan, exercise test assessment and maintenance.
9. Crisis communications.
10. Coordinating with external agencies and resource resources.
✔✔What is a must to have an effective BCM process? - ✔✔Leadership support
✔✔Program management - ✔✔The process of managing programs mapped to
business objectives that improve organizational performance
✔✔What is risk management? - ✔✔- Acceptance/tolerance
- prevention/mitigation
- risk retention
- Risk transfer
✔✔What is the risk assessment and management process? - ✔✔1. Organizational
context
2. Risk identification
3. Risk Assessment
4. Risk evaluation
5. Risk treatment
6. Monitoring review and corrective action
7. Communication
✔✔What is enterprise risk? - ✔✔Risks associated with not only Accidental losses, but
also financial strategic operational and other risk
✔✔What is operational risk? - ✔✔Risks associated with internal inadequacies of an
organization or a breakdown of its control, controls operations or procedures
✔✔What is business continuity in regard to risk? - ✔✔Reducing the impacts that occur
when there's a failure and enterprise or operational risk
✔✔what does risk management do? - ✔✔Anticipate risks
✔✔What does business continuity do? - ✔✔Addresses impacts
✔✔What is business interruption insurance? - ✔✔Relates to the requirement for
calculation of adequate insurance, covering financial loss of profits and continued fixed
expenses due to temporary business cessation
, ✔✔what is contingent business interruption insurance? - ✔✔Reimburses loss, profits,
and extra expenses, resulting from an interruption of business at the premises of a
customer or supplier
✔✔What is extra expense Insurance? - ✔✔Pays for the extra expense of maintaining
operations after an accident to an insured item until normal operations can be restored
✔✔What does insurance do for risk? - ✔✔- Transfers risk
- Provide provides finance to recover and rebuild
- Can protect profits
- Can protect against supply chain issues
✔✔What is an annualized loss expectancy? - ✔✔R = F * E
✔✔What is cost of prevention? - ✔✔C = M*P
✔✔What is the professionals role for the business impact analysis? - ✔✔1. Identify and
document the quantitative and qualitative criteria to be used to assess the impact to the
entity resulting from an incident
2. recommend objectives and scope for the business impact analysis process
3. Established the criteria and methodology to be used in conducting the business
impact analysis process
4. Analyze the collected data against the approved criteria to establish a recovery time
objective recovery point objective and resources for each operational area and it's
supporting technology
5. prepare and present the business impact analysis results to leadership. gain
acceptance of the recovery time objectives recovery point objectives and resources as
detailed in the business impact analysis
✔✔ What are the professional practices for BCM? - ✔✔1. program management
2. risk assessment
3. Business impact analysis
4. Business continuity strategies
5. Incident preparedness and response
6. Plan development and implementation.
7. Awareness and training programs.
8. Business continuity, plan, exercise test assessment and maintenance.
9. Crisis communications.
10. Coordinating with external agencies and resource resources.
✔✔What is a must to have an effective BCM process? - ✔✔Leadership support
✔✔Program management - ✔✔The process of managing programs mapped to
business objectives that improve organizational performance
