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Risk Management final exam Questions and Answers All verified 2026

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Risk Management final exam Questions and Answers All verified 2026

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23 pages

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Institution Risk Management

Course Risk Management

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Risk Management final exam Questions and Answers All verified 2026

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Risk Management final
exam Questions and
Answers All verified 2026
WhatBIsBRiskB-BAnswerBRiskBisBuncertainty

PositiveBvs.BnegativeBrisksB-BAnswerBThreats=BNegativeBrisks

SecurityBsectorBtypicallyBfocusesBonBnegativeBrisks

Opportunities-BPositiveBrisks

RiskBIdentificationB-
BAnswerBResearch:B•BOnceBobjectivesBareBdefined,BaBperiodBofBcomprehensiveBresea
rchBshouldBfollow:

B

BAnswerBtheB"5BWs"BlikeBaBjournalist.

B

BConductBliteratureBreviewBofBmedia,Bgovernment,Bindustry,BacademicBsources.

B

BDevelopBaBfullBunderstandingBofBtheBgeneralBareaBsurroundingBanBobjective.

B

Process:BAsBresearchBisBconductedBbeginBtoBjotBdownBpossibleBrisksBtoBtheBobjective(
s)

DataBCollectionB-BAnswerBAtBtheBheartBofBdataBanalysisBisBdataBcollection.

NeedBtoBcollectBdataBonBlikelihoodBandBimpact

,RiskBassessmentB-BAnswerBBroad-
BExample:BABriskBassessmentBonBaBretailBstore.BRisksBcouldBincludeBtheft,Bloitering,Bfi
re,Betc.

NarrowB-
BExample:BABriskBassessmentBonBtheftBinBaBretailBstore.BRisksBcouldBincludeBinternalB
theft,BtheftBofBcertainBproducts,BtheftBinBcertainBstoreBaisles,Betc.

Ad-hocB-
BABriskBassessmentBonBtheBintroductionBofBaBnewBretailBoutletBforBaBchainBstore.B

RegularB-BAnBannualBriskBassessmentBbyBaBchainBstoreBofBallBitsBretailBoutlets.

HeatBmapB-BAnswerBlowBlikelihood+BlowBimpact=BlowBriskB

lowBlikelihoodB+BmediumBimpactB=BlowBrisk

mediumBlikelihoodB+BLowBimpactB=BlowBriskB

lowBlikelihood+highBimpactB=BMediumBriskB

mediumBlikelihoodB+mediumBimpactB=BmediumBrisk

HighBlikelihoodB+LowBimpactB=BmediumBrisk

B

MediumBimpact+BhighBimpactB=BhighBrisk

, HighBlikelihoodB+BhighBimpactB=BHighBrisk

HighBlikelihoodB+BmediumBimpactB=BHighBrisk

PrimaryBriskBformulaB(LikelihoodB*BImpact)B-BAnswerBRiskB=BLikelihoodB*BImpact

RiskBmitigationB(4BmajorBtypesB+Bsub-types)B-
BAnswerBGenerally,BtoBmitigate=B"toBlessenBtheBseriousnessBorBseverity."B

BInBriskBmanagement,BmitigateBhasBitsBownBparticularBmeaning.

B

B1.BAvoid

-BAvoidanceBrefersBsimplyBtoBeliminatingBriskBexposureBentirely.B

-BAvoidanceBcanBbeBachievedBinBtwoBways:

A:BEliminateBanBobject

B:BFindBalternativeBwaysBtoBreachBanBobjective

B2.BAcceptB

AcceptBtheBriskBsimplyBbecauseBthereBisBnothingBthatBcanBreasonablyBdoneBtoBaddre
ssBit.B

RelativeBtoBtheBbenefits,BtheBcostsBofBmitigationBareBmuchBtooBhigh.

B3.BTransfer

B•BRatherBthanBdealBwithBaBriskBitself,BanBorganizationBmayBchooseBtoBtransferBitBto
BanotherBorganization.

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Number of pages: 23
Written in: 2026/2027
Type: Exam (elaborations)
Contains: Questions & answers

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