ETS Final Exam Correct Questions
And Answers
types of risks Correct Answers operational, financial, credit, other (technical, security,
data, environmental)
operational risk Correct Answers involves risk of mistakes or fraud resulting in financial
exposure
field operations (accidents) Correct Answers traders, transaction confirmations, online
trading
supply chain operations Correct Answers traders, transaction confirmations, online
trading, scheduling and storage, mistakes and omission
financial risk definition Correct Answers financial exposure due to market fluctuation
financial risk examples Correct Answers protecting against or falling charges, locking in
margins, mark to market daily tracking
credit risk definition Correct Answers risk of non-performance of financial commitments
credit risk examples Correct Answers credit limits (receivable), liquidity limits (payable),
mark to market, accts payable and receivable, complete picture
purpose and approach of Mark-to-Market is Correct Answers Measure the current value
of the assets rather than just recording historical values
properties of the Middle office Correct Answers Properties are CONTROLS and
COMPLIANCE which includes roles such as
Auditors' Role
Management's Role
Technology's Role
Government's Role
why the middle office sector is vital Correct Answers In recent years the Middle Office of
the Natural Gas (Energy) Industry has become one of the fastest growing sectors in our
industry. As our Industry becomes more fast paced and risk averse, the role of the
Middle Office becomes more and more vital.
what the roles of Auditors are. Correct Answers Controls designed to protect the
company from harm are in place, When issues are identified, new safeguards are put in
place, Auditors need to involve Management on a timely basis, GAAP
And Answers
types of risks Correct Answers operational, financial, credit, other (technical, security,
data, environmental)
operational risk Correct Answers involves risk of mistakes or fraud resulting in financial
exposure
field operations (accidents) Correct Answers traders, transaction confirmations, online
trading
supply chain operations Correct Answers traders, transaction confirmations, online
trading, scheduling and storage, mistakes and omission
financial risk definition Correct Answers financial exposure due to market fluctuation
financial risk examples Correct Answers protecting against or falling charges, locking in
margins, mark to market daily tracking
credit risk definition Correct Answers risk of non-performance of financial commitments
credit risk examples Correct Answers credit limits (receivable), liquidity limits (payable),
mark to market, accts payable and receivable, complete picture
purpose and approach of Mark-to-Market is Correct Answers Measure the current value
of the assets rather than just recording historical values
properties of the Middle office Correct Answers Properties are CONTROLS and
COMPLIANCE which includes roles such as
Auditors' Role
Management's Role
Technology's Role
Government's Role
why the middle office sector is vital Correct Answers In recent years the Middle Office of
the Natural Gas (Energy) Industry has become one of the fastest growing sectors in our
industry. As our Industry becomes more fast paced and risk averse, the role of the
Middle Office becomes more and more vital.
what the roles of Auditors are. Correct Answers Controls designed to protect the
company from harm are in place, When issues are identified, new safeguards are put in
place, Auditors need to involve Management on a timely basis, GAAP
