Pre-exam cram ARM 55
Changes in social norms, new research linking a substance to harming human
health, and changes in manufacturing processes are examples of which one
of the following unique challenges of controlling environmental loss
exposures? - correct answer ✔Dynamic nature of losses
According to the Power/Interest Matrix for Prioritizing Stakeholders, what is
the best course of action for dealing with stakeholders who have low interest
in the organization and high power over the organization? - correct answer
✔Keep them satisfied
A patent issued for an invention or process that has some usefulness, does
not have to be marketable, but must work is a - correct answer ✔Utility
patent.
Mike and Jack are research chemists at Wentworth Pharmaceutical. They are
working on a top-secret project, a new arthritis drug. On the evening of the
day that Mike and Jack made a major breakthrough on the drug, Jack saw this
posting on a public bulletin board: "Buy Wentworth Pharma stock...major good
news coming soon on arthritis drug. You heard it here first." The post was
attributed to "DrugGuy201." Jack knew that Mike was the only other person
who could have made the post. He asked Wentworth's compliance
department to review the posting. After the investigation, Mike was formally
reprimanded by the company and warned that further infractions would result
in dismissal. Mike's offense in this case was - correct answer ✔Revealing
intellectual property.
For events that appear to have primarily positive potential outcomes, an
organization should focus on which one of the following risk treatment
techniques? - correct answer ✔Risk exploitation
, During which stage of a strategic redeployment plan does the organization
need to consider the supply chain, as well as the facilities and machinery that
are available? - correct answer ✔Contingency production stage
Firewalls, fire doors, elevator shafts, and automatic devices - correct answer
✔Close off ventilation.
An organization may use several forms of analysis to prioritize risks and
maximize risk control resources. Under one type of analysis, the direction of
reasoning in fault tree analysis is reversed by starting with causes and
branching out to consequences. This type of analysis is called - correct
answer ✔Failure mode and effects analysis
Some buildings have modest economic value but still have high replacement
costs. One prime reason for this might be because of - correct answer
✔Construction styles that are large or ornate.
The Sarbanes-Oxley Public Company Reform and Investor Protection Act of
2002 - correct answer ✔Imposes legal liability on an organization regardless
of whether the organization committed any tort or assumed any liability under
contract.
Which one of the following is a benefit a risk management professional may
derive from utilizing risk assessment questionnaires? - correct answer
✔They are useful in identifying personnel loss exposures.
The purpose of fault tree analysis is to - correct answer ✔Identify the various
ways of interrupting the sequence of events leading to system failure so that
the failure itself can be prevented.
Changes in social norms, new research linking a substance to harming human
health, and changes in manufacturing processes are examples of which one
of the following unique challenges of controlling environmental loss
exposures? - correct answer ✔Dynamic nature of losses
According to the Power/Interest Matrix for Prioritizing Stakeholders, what is
the best course of action for dealing with stakeholders who have low interest
in the organization and high power over the organization? - correct answer
✔Keep them satisfied
A patent issued for an invention or process that has some usefulness, does
not have to be marketable, but must work is a - correct answer ✔Utility
patent.
Mike and Jack are research chemists at Wentworth Pharmaceutical. They are
working on a top-secret project, a new arthritis drug. On the evening of the
day that Mike and Jack made a major breakthrough on the drug, Jack saw this
posting on a public bulletin board: "Buy Wentworth Pharma stock...major good
news coming soon on arthritis drug. You heard it here first." The post was
attributed to "DrugGuy201." Jack knew that Mike was the only other person
who could have made the post. He asked Wentworth's compliance
department to review the posting. After the investigation, Mike was formally
reprimanded by the company and warned that further infractions would result
in dismissal. Mike's offense in this case was - correct answer ✔Revealing
intellectual property.
For events that appear to have primarily positive potential outcomes, an
organization should focus on which one of the following risk treatment
techniques? - correct answer ✔Risk exploitation
, During which stage of a strategic redeployment plan does the organization
need to consider the supply chain, as well as the facilities and machinery that
are available? - correct answer ✔Contingency production stage
Firewalls, fire doors, elevator shafts, and automatic devices - correct answer
✔Close off ventilation.
An organization may use several forms of analysis to prioritize risks and
maximize risk control resources. Under one type of analysis, the direction of
reasoning in fault tree analysis is reversed by starting with causes and
branching out to consequences. This type of analysis is called - correct
answer ✔Failure mode and effects analysis
Some buildings have modest economic value but still have high replacement
costs. One prime reason for this might be because of - correct answer
✔Construction styles that are large or ornate.
The Sarbanes-Oxley Public Company Reform and Investor Protection Act of
2002 - correct answer ✔Imposes legal liability on an organization regardless
of whether the organization committed any tort or assumed any liability under
contract.
Which one of the following is a benefit a risk management professional may
derive from utilizing risk assessment questionnaires? - correct answer
✔They are useful in identifying personnel loss exposures.
The purpose of fault tree analysis is to - correct answer ✔Identify the various
ways of interrupting the sequence of events leading to system failure so that
the failure itself can be prevented.
