ARM 400 EXAM 241 COMPLETE SCRIPT WITH
SOLUTIONS
◉ In addition to metal detector, many airports have installed a
second type of scanning technology for baggage and cargo. The
checked bags and cargo pass through a portal with scanners
programmed to detect and test for explosive trace fumes. These
scanners, which detect explosives based on air samples, are an
example of what type of sensor used for risk assessment and
control? Answer: Biochemical sensors
◉ Which one of the following uses infrared light to detect nearby
objects. Answer: Lidar
◉ SIR's use of drones, video, real-term video scanning, and
computer analysis illustrates which one of the following. Answer:
Preventative analytics
◉ Which one of the following should be part of an organization's
standard operating procedures (SOPs) concerning external
stakeholder communications?. Answer: Instructions regarding what
types of information can and cannot be released
,◉ When interviewing a risk owner, which one of the following
questions should be asked?. Answer: What steps have been taken to
ensure continuity of business in the event of a natural disaster?
◉ A speaker imparts information in verbal communications by.
Answer: Having good listening skills and expressing facts and
emotions through words and sometimes visual displays
◉ Which one of the following organizational policies or practices is
based on a code of ethics?. Answer: A disclosure requirement
regarding any potential conflict of interest an accountant might have
in working with specific clients
◉ An organization evaluates key stakeholders' attitude toward risk
in order to. Answer: Understand what risks are acceptable and to
develop an effective enterprise-wide risk management program
◉ Twice a year, Medford Factory gives employees a day off to work
in the community where the factory is located. The employees
prepare and serve a holiday meal for members of the community,
and they clean the neighborhood park in the spring. This practice is
based on Medford Factory's. Answer: Social responsibility
◉ Which one of the following types of risk is best handled at the risk
center level?. Answer: Minor risks that do not have consequences
outside the unit are best managed at the risk center level
, ◉ Which one of the following statements is correct regarding an
organizations code of ethics?. Answer: The code of ethics should
include principles and concepts that are dynamic enough to remain
relevant in a rapidly changing business environment
◉ One advantage that a national organization would derive from
creating risk centers is that it. Answer: Allows for participation by
operational managers who may contribute to the risk analysis
◉ An organization evaluates key stakeholders attitude toward risk
in order to. Answer: Understand what risks are acceptable and to
develop an effective enterprise-wide risk management program
◉ Which one of the following measures the progress an organization
has made toward attaining it's goals within a specific amount of
time?. Answer: Key performance indicator
◉ One of the strategic objectives for Cromley Insurance Group is
customer satisfaction. Which one of the following is a critical success
factor (CSF) that would help refine this strategic objective?. Answer:
High customer retention
◉ Which one of the following terms refers to information used as a
basis for measuring the significance of a risk?. Answer: Risk criteria
SOLUTIONS
◉ In addition to metal detector, many airports have installed a
second type of scanning technology for baggage and cargo. The
checked bags and cargo pass through a portal with scanners
programmed to detect and test for explosive trace fumes. These
scanners, which detect explosives based on air samples, are an
example of what type of sensor used for risk assessment and
control? Answer: Biochemical sensors
◉ Which one of the following uses infrared light to detect nearby
objects. Answer: Lidar
◉ SIR's use of drones, video, real-term video scanning, and
computer analysis illustrates which one of the following. Answer:
Preventative analytics
◉ Which one of the following should be part of an organization's
standard operating procedures (SOPs) concerning external
stakeholder communications?. Answer: Instructions regarding what
types of information can and cannot be released
,◉ When interviewing a risk owner, which one of the following
questions should be asked?. Answer: What steps have been taken to
ensure continuity of business in the event of a natural disaster?
◉ A speaker imparts information in verbal communications by.
Answer: Having good listening skills and expressing facts and
emotions through words and sometimes visual displays
◉ Which one of the following organizational policies or practices is
based on a code of ethics?. Answer: A disclosure requirement
regarding any potential conflict of interest an accountant might have
in working with specific clients
◉ An organization evaluates key stakeholders' attitude toward risk
in order to. Answer: Understand what risks are acceptable and to
develop an effective enterprise-wide risk management program
◉ Twice a year, Medford Factory gives employees a day off to work
in the community where the factory is located. The employees
prepare and serve a holiday meal for members of the community,
and they clean the neighborhood park in the spring. This practice is
based on Medford Factory's. Answer: Social responsibility
◉ Which one of the following types of risk is best handled at the risk
center level?. Answer: Minor risks that do not have consequences
outside the unit are best managed at the risk center level
, ◉ Which one of the following statements is correct regarding an
organizations code of ethics?. Answer: The code of ethics should
include principles and concepts that are dynamic enough to remain
relevant in a rapidly changing business environment
◉ One advantage that a national organization would derive from
creating risk centers is that it. Answer: Allows for participation by
operational managers who may contribute to the risk analysis
◉ An organization evaluates key stakeholders attitude toward risk
in order to. Answer: Understand what risks are acceptable and to
develop an effective enterprise-wide risk management program
◉ Which one of the following measures the progress an organization
has made toward attaining it's goals within a specific amount of
time?. Answer: Key performance indicator
◉ One of the strategic objectives for Cromley Insurance Group is
customer satisfaction. Which one of the following is a critical success
factor (CSF) that would help refine this strategic objective?. Answer:
High customer retention
◉ Which one of the following terms refers to information used as a
basis for measuring the significance of a risk?. Answer: Risk criteria
