RSE4801 Assignment 1 2023 || Verified Risk Management
Assignment Answers
Description: RSE4801 Assignment 1 (2023) complete with verified and correct answers.
Focuses on enterprise risk management frameworks, mitigation strategies, and compliance
standards.
Keywords: RSE4801 assignment 1 2023 risk management unisa enterprise risk solutions verified
risk exam answers unisa business law
RSE4801 Assignment 1 (2023) - 100 Q&A
Section A: Introduction to Risk Management & Key Concepts
1. What is the primary objective of risk management in an organization?
a) To eliminate all risks
b) To maximize profit at any cost
c) To understand and manage uncertainty to support the achievement of objectives
d) To transfer all risks to a third party
2. The term 'risk appetite' refers to:
a) The types of food served in the company cafeteria
b) The amount and type of risk an organization is willing to pursue or retain
, c) The list of all identified risks
d) The budget allocated for insurance
3. Which of the following best describes 'inherent risk'?
a) The risk that remains after management actions have been taken
b) The risk level before any controls or mitigation strategies are applied
c) The risk of employees being inherently dishonest
d) A risk that is insignificant and can be ignored
4. What is 'residual risk'?
a) The risk that is left over after risk treatment
b) The initial, unmitigated level of risk
c) A risk that is not worth managing
d) The risk of project failure
5. The process of comparing the estimated level of risk against risk criteria to
determine its significance is known as:
a) Risk Identification
b) Risk Analysis
c) Risk Evaluation
d) Risk Treatment
6. A 'risk owner' is best defined as:
a) The CEO of the company
b) The person or entity responsible for managing a particular risk
, c) The insurance company
d) The internal audit department
7. Which of these is a key benefit of effective Enterprise Risk Management (ERM)?
a) Guaranteeing that no losses will occur
b) Improving decision-making and strategic planning
c) Eliminating the need for internal controls
d) Ensuring 100% compliance with all laws
8. The concept of 'risk culture' pertains to:
a) The values, beliefs, and knowledge about risk shared across an organization
b) The number of risk managers employed
c) The company's insurance policy documents
d) The frequency of board meetings
9. A 'risk register' is primarily used for:
a) Logging employee attendance
b) Documenting and tracking identified risks and their treatment
c) Recording financial transactions
d) Listing customer complaints
10. The COSO ERM framework is primarily concerned with:
a) Only financial risks
b) Only health and safety risks
c) Providing a holistic, organization-wide approach to risk management
d) Creating software for risk analysis
Assignment Answers
Description: RSE4801 Assignment 1 (2023) complete with verified and correct answers.
Focuses on enterprise risk management frameworks, mitigation strategies, and compliance
standards.
Keywords: RSE4801 assignment 1 2023 risk management unisa enterprise risk solutions verified
risk exam answers unisa business law
RSE4801 Assignment 1 (2023) - 100 Q&A
Section A: Introduction to Risk Management & Key Concepts
1. What is the primary objective of risk management in an organization?
a) To eliminate all risks
b) To maximize profit at any cost
c) To understand and manage uncertainty to support the achievement of objectives
d) To transfer all risks to a third party
2. The term 'risk appetite' refers to:
a) The types of food served in the company cafeteria
b) The amount and type of risk an organization is willing to pursue or retain
, c) The list of all identified risks
d) The budget allocated for insurance
3. Which of the following best describes 'inherent risk'?
a) The risk that remains after management actions have been taken
b) The risk level before any controls or mitigation strategies are applied
c) The risk of employees being inherently dishonest
d) A risk that is insignificant and can be ignored
4. What is 'residual risk'?
a) The risk that is left over after risk treatment
b) The initial, unmitigated level of risk
c) A risk that is not worth managing
d) The risk of project failure
5. The process of comparing the estimated level of risk against risk criteria to
determine its significance is known as:
a) Risk Identification
b) Risk Analysis
c) Risk Evaluation
d) Risk Treatment
6. A 'risk owner' is best defined as:
a) The CEO of the company
b) The person or entity responsible for managing a particular risk
, c) The insurance company
d) The internal audit department
7. Which of these is a key benefit of effective Enterprise Risk Management (ERM)?
a) Guaranteeing that no losses will occur
b) Improving decision-making and strategic planning
c) Eliminating the need for internal controls
d) Ensuring 100% compliance with all laws
8. The concept of 'risk culture' pertains to:
a) The values, beliefs, and knowledge about risk shared across an organization
b) The number of risk managers employed
c) The company's insurance policy documents
d) The frequency of board meetings
9. A 'risk register' is primarily used for:
a) Logging employee attendance
b) Documenting and tracking identified risks and their treatment
c) Recording financial transactions
d) Listing customer complaints
10. The COSO ERM framework is primarily concerned with:
a) Only financial risks
b) Only health and safety risks
c) Providing a holistic, organization-wide approach to risk management
d) Creating software for risk analysis
