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1. A step that is used in the ERM reviews risks to help decide if risk management is needed and the specific technique. This is referring to...
A. Risk analysis.
B. Risk assessment.
C. Risk process.
D. Risk tolerance.
2. This is the type or kind of risk that organizations face from people, processes, systems or controls.
A. Strategic risk.
B. Operational risk.
C. Process risk.
D. Situational risk.
3. NW Farms owns thousands of animals and relies on corn and wheat for the source of food. The company is very dependent on the price of the commodity and its market for feeding. This risk for the commodity price for food for the animals is called...
A. Hazard risk.
B. Financial risk.
C. Hedge price.
D. Operational risk.
4. This process utilizes experts from industry where they respond to questionnaires anonymously. This process is repeatedly until a consensus is reached and a root cause is determined.
A. Scenario based.
B. Delphi technique.
C. Cause and effect.
D. FTA.
5. A company that uses a SWOT analysis to focus on their identification techniques for risk is utilizing...
A. Strategy analysis.
B. Cause and effect.
C. Scenario analysis.
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