Arm 400 Exam Questions & Answers 100% Correct!!

Hardware Store has been able to control its prices and inventory since it has no competitors. A new highway currently being constructed is going to allow increased competition for Hardware Store. According to the quadrants of risk, this risk of increased competition falls into the category of - ANSWERStrategic risk. Which one of the following is the inherent weakness of root cause analysis (RCA)? - ANSWERD. It can only look backward. Metadata contains - ANSWERA. Information about data as well as rules about that data. When comparing principles-based regulation with rules-based regulation, which one of the following statements is correct? - ANSWERD. Principles-based regulation responds more quickly to a changing environment. The lifeblood of every organizational function is - ANSWERC. Data. One of the key department players in compliance program implementation is Internal Audit. As such, the main responsibility of Internal Audit involves which of the following? - ANSWERB. Oversight of financial compliance Which one of the following best explains why the audience should be known for effective enterprise risk management (ERM) communication? - ANSWERB. The communication must address the level of technical, legal or financial understanding of the audience for the message to be received. Organizations use key risk indicators (KRIs) to plan for and respond to risk. Which one of the following statements is correct with respect to KRIs? - ANSWERA. KRIs are based on quantifiable information and support management decisions. Which one of the following continuity strategy models involves maintaining two or more active sites that are geographically dispersed? - ANSWERD. Split operations model Emerging technologies such as artificial intelligence and machine learning are being applied by some businesses as part of their internal audit and control process. A key benefit of such applications is - ANSWERC. Detection of fraud and inefficient practices in real time Which one of the following bases of organizational culture are exhibited through the organization's goals and the manner in which it pursues its goals? - ANSWERC. Values