ARM 400 Practice Concepts with Complete Solutions (100% Accurate)

The fundamental purpose of a risk management framework is to Correct Answer Integrate risk management throughout the organization Company G is a manufacturer of high profile golf equipment. The risk management professional for Company G is concerned about loss of business related to product design. Failing to respond to changing customer demand and preferences in the design of golf clubs could cost Company G significant market share. Categorized according to the quadrants of risk, this exposure to loss is classified as Correct Answer Strategic Risk Aligning risks with the organization's risk appetite defines Correct Answer Tolerable uncertainty An organization must meet the standard of care that it owes to others in order to ensure that Correct Answer Legal obligations are satisfied When communicating a decision up the organization's chain of command, consulting with outside experts can help a risk management professional do which one of the following? Correct Answer Enhance stakeholders' confidence in the process Which one of the following statements is true with regard to preventive analytics? Correct Answer Preventive analytics uses smart products and data analytics to identify root loss causes and their implications. Autonomous Vehicle Applications (AVA) is a start-up company that develops safety technologies that can be sold to companies that are producing autonomous vehicles. One technology AVA is developing allows an autonomous vehicle to detect, extract, and analyze images; and then to respond to the images. For example, the technology would detect a presence in a crosswalk, extract the image, and a computer would analyze the image. When the image was determined to be a human being, the vehicle would slow down or stop until the crosswalk was clear. This technology, which is designed to capture and analyze images, and to act on the recognition of the image; is called Correct Answer Computer Vision The emerging technologies applied to risk assessment and control link the physical domain to the virtual domain. Together, these domains linked by the emerging technologies create a Correct Answer Connected ecosystem. It's not cost effective to use human assets to inspect tracks, bridges, and trestles. Instead, SIR has started to use drones. A drone can fly low over tracks and above/below bridges and trestles. The drones record video that is transmitted to