Flashcards in Enterprise Risk Management (M40) Deck (16):
1
T/F
A benefit of enterprise risk management is that it helps the organization seize opportunities
TRUE
2
T/F
A benefit of enterprise risk management is that it enhances risk response decisions
TRUE
3
T/F
A benefit of enterprise risk management is that it improves the deployment of capital
TRUE
4
T/F
A benefit of enterprise risk management is that it insures that the organization shares all major risks
FALSE
This is only one way of responding to risk and this technique cannot be used for all risks, nor should it be
5
____ is the acceptable variation with respect to a particular organizational objective
Risk Tolerance
6
______ is the level of risk an organization is willing to accept
Risk Appetite
7
______ is the risk of an event after considering management's response
Residual Risk
8
______ are events that require no risk response
Accepted Risks
9
_____ involves exiting the activity that gives rise to the risk
Risk Avoidance
10
______ involves no response to the risk
Risk Acceptance
11
______ involves managing a risk to reduce its likelihood or impact
Risk Reduction
12
______ involves sharing risk with another party
Risk Sharing
13
Probabilistic Models are used for ____
Risk Assessment
14
Process Flow Analysis is used for ____
Event Identification
15
Facilitated Workshops are used for _____
Event Identification
16