RSK2602 Assignment 1 (COMPLETE ANSWERS) Semester 2 2025 – DUE 20 August 2025; 100% correct solutions and explanations.

RSK2602 Assignment 1 (COMPLETE ANSWERS) Semester 2 2025 – DUE 20 August 2025; 100% correct solutions and explanations.Dear Student The purpose of this document is to give you the details of Assessments 1 and 2. 1 THE ASSESSMENT SECOND SEMESTER ASSESSMENT 1 Due date 20 August 2025 The purpose of this assessment is to test your knowledge and understanding of • risk, risk types and operational risk • the operational risk management framework • the development of an operational risk management function Question 1 Answer the following questions and submit your assessment at . Evaluate the accuracy of each of the following statements. Indicate whether you consider the statement accurate (true) or not (false) and provide a full motivation for your answer. NO MARK WILL BE AWARDED FOR A TRUE OR FALSE ANSWER WITHOUT A MOTIVATION. 1.1 Operational failures caused by staff are driven by error, fraud and data theft. True/False 1.2 Technology and systems are examples of external drivers of operational risk management. True/False 1.3 Operational risk is the risk of loss arising from human error, management failure and fraud or shortcomings in systems or controls. This would include strategic and reputational risk. True/False 1.4 Risk-indifferent requires no changes in the risk/reward balance in return for an increase in risk. This attitude is usually not conducive for taking any risks to enhance the business. True/False 1.5 Self-insurance can be achieved by way of captives. True/False 1.6 Risk appetite is the financial amount that the organisation is not prepared to loose. True/False 1.7 The impact of risk exposures can be rated as probably, possible and remote. True/False 1.8 Risk transfer entails the physical transfer of the risk