ARM 400
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 corporate headquarters where it is simultaneously scanned for
derailment hazards. In the past six months, the drones detected a track
blockage caused by a rock slide and damage to tracks in a remote area cause
by an earthquake. SIR dispatched work crews to make the tracks once again
passable, and no derailments occurred. SIR's use of drones, video, real-term
video scanning, and computer analysis illustrates which one of the following? -
correct answer ✔Preventative analytics
A municipal water plant installed water flow sensors and water pressure
sensors on the water pipes leaving the plant. The sensors make sure water is
flowing properly and that there are no leaks or clogs which could produce a
loss. These types of sensors are - correct answer ✔Mechanical Sensors
Mutual Fund Company (MFC) offers a wide array of mutual fund options to
investors. Each mutual fund has a different fund objective and set of
investment guidelines that apply to the fund. While MFC gives considerable
freedom to its fund portfolio managers, they are required to abide by the
fund's investment guidelines. To monitor compliance, MFC developed a
computer algorithm. The computer algorithm continuously monitors each
fund's compliance with investment guidelines. If a fund manager violates the
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 corporate headquarters where it is simultaneously scanned for
derailment hazards. In the past six months, the drones detected a track
blockage caused by a rock slide and damage to tracks in a remote area cause
by an earthquake. SIR dispatched work crews to make the tracks once again
passable, and no derailments occurred. SIR's use of drones, video, real-term
video scanning, and computer analysis illustrates which one of the following? -
correct answer ✔Preventative analytics
A municipal water plant installed water flow sensors and water pressure
sensors on the water pipes leaving the plant. The sensors make sure water is
flowing properly and that there are no leaks or clogs which could produce a
loss. These types of sensors are - correct answer ✔Mechanical Sensors
Mutual Fund Company (MFC) offers a wide array of mutual fund options to
investors. Each mutual fund has a different fund objective and set of
investment guidelines that apply to the fund. While MFC gives considerable
freedom to its fund portfolio managers, they are required to abide by the
fund's investment guidelines. To monitor compliance, MFC developed a
computer algorithm. The computer algorithm continuously monitors each
fund's compliance with investment guidelines. If a fund manager violates the
