WGU D373 CHAPTER 4 AND 5 ENTERPRISE RISK
MANAGEMENT EXAM 72 QUESTIONS WITH
VERIFIED ANSWERS 2025/2026
considers only hazard and operational risks that can affect and organization -
CORRECT ANSWER Traditional Risk Management (RM)
expands an organizations risk focus to include financial and strategic risks -
CORRECT ANSWER Enterprise Risk Management (ERM)
Risk Categories, Strategic Integration, Performance Metrics, Organization
Structure - CORRECT ANSWER Four major difference between RM and ERM
pure risk only, focuses on preventing or reducing potential losses - CORRECT
ANSWER RM Risk Categories
considers all risks a company faces by focusing on the interrelationships between
pure and speculative risks - CORRECT ANSWER ERM Risk Categories
A senior risk professional who has oversight over all the organization's ERM
functions - CORRECT ANSWER Chief Risk Officer (CRO)
define acceptable practices, methods, and processes but are not legal
requirements themselves - CORRECT ANSWER Standards
, process by which an organization's board and executives develop, refresh and
refine its strategies in line with its view of the future - CORRECT ANSWER Strategic
Planning
The core aspects of an organization, including its vision, mission, strategies,
infrastructure, policies, and offerings - CORRECT ANSWER Business Model
1. develop ERM goals
2. Identify Risks
3. Analyze, Evaluate, and Prioritize critical risks
4. Treat critical risks
5. Monitor critical risks - CORRECT ANSWER 5 steps to integrate ERM
Someone who is responsible for managing risks from a specific risk center or
operation - CORRECT ANSWER Risk Owner
a term used to describe a situation in which access to critical knowledge about
risk, corporate strategies, and the organization framework is limited to a number
of key personnel - CORRECT ANSWER Information Silos
a body that establishes international standards in many areas of business -
CORRECT ANSWER International Organization for Standardization
rooted in risk management and are designed to generate value and continuously
scan and react to the environement - CORRECT ANSWER Principles (ISO 31000)
MANAGEMENT EXAM 72 QUESTIONS WITH
VERIFIED ANSWERS 2025/2026
considers only hazard and operational risks that can affect and organization -
CORRECT ANSWER Traditional Risk Management (RM)
expands an organizations risk focus to include financial and strategic risks -
CORRECT ANSWER Enterprise Risk Management (ERM)
Risk Categories, Strategic Integration, Performance Metrics, Organization
Structure - CORRECT ANSWER Four major difference between RM and ERM
pure risk only, focuses on preventing or reducing potential losses - CORRECT
ANSWER RM Risk Categories
considers all risks a company faces by focusing on the interrelationships between
pure and speculative risks - CORRECT ANSWER ERM Risk Categories
A senior risk professional who has oversight over all the organization's ERM
functions - CORRECT ANSWER Chief Risk Officer (CRO)
define acceptable practices, methods, and processes but are not legal
requirements themselves - CORRECT ANSWER Standards
, process by which an organization's board and executives develop, refresh and
refine its strategies in line with its view of the future - CORRECT ANSWER Strategic
Planning
The core aspects of an organization, including its vision, mission, strategies,
infrastructure, policies, and offerings - CORRECT ANSWER Business Model
1. develop ERM goals
2. Identify Risks
3. Analyze, Evaluate, and Prioritize critical risks
4. Treat critical risks
5. Monitor critical risks - CORRECT ANSWER 5 steps to integrate ERM
Someone who is responsible for managing risks from a specific risk center or
operation - CORRECT ANSWER Risk Owner
a term used to describe a situation in which access to critical knowledge about
risk, corporate strategies, and the organization framework is limited to a number
of key personnel - CORRECT ANSWER Information Silos
a body that establishes international standards in many areas of business -
CORRECT ANSWER International Organization for Standardization
rooted in risk management and are designed to generate value and continuously
scan and react to the environement - CORRECT ANSWER Principles (ISO 31000)
