Operational Risk Management ESAMS training Questions and Answers Already Passed

Operational Risk Management ESAMS training Questions and Answers Already Passed ORM should be applied to simple and redundant everyday evolutions, like driving to and from work TRUE Which of the following is NOT a level of ORM Intentional _________ is an expression of possible loss, adverse outcome, or negative consequence in terms of probability and severity. Risk Any real or potential condition that can cause injury, illness, or death to personnel; damage to or loss of equipment or property; degradation of mission capability or impact to mission accomplishment; or damage to the environment. Hazard An expression of possible loss, adverse outcome or negative consequence; such as injury or illness, in terms of probability and severity. Risk A structured process to identify and assess hazards. An expression of potential harm, described in terms of hazard severity, mishap probability and exposure to hazards Risk Assessment Risk remaining after controls have been identified and selected. Residual Risk An expression of the risk associated with a hazard that combines its severity and probability into a single arabic numeral which can be used to help determine hazard abatement priorities. Risk Assessment Code Actions taken or measures put in place to eliminate a hazard or reduce the associated indentified risk Controls What are the factors that should be considered when assigning a risk level in the second step of the five-step process? Probability and severity Being able, willing, and ready to actively participate, state, and maintain your position until convinced that other options are better is a behavioral skill called _________. assertiveness Why is communication important for TCRM? ___________ are actions taken or measures put in place to eliminate a hazard or reduce the associated identified risk. Controls 1st step of ORM Identify Hazards 2nd step of ORM Assess Hazards 3rd step of ORM Make risk decisions 4th step of ORM Implement Controls 5th step of ORM Supervise Knowledge, skills, automation and techniques are _____________. Resources in ORM