WGU D373 CH 4 ENTERPRISE RISK MANAGEMENT EXAM 30 QUESTIONS WITH VERIFIED ANSWERS 2025/2026,100%CORRECT

WGU D373 CH 4 ENTERPRISE RISK MANAGEMENT
EXAM 30 QUESTIONS WITH VERIFIED ANSWERS
2025/2026


traditional risk management - CORRECT ANSWER -risks evaluated in a "silo"
approach
-loss exposures are usually insurable, pure risks
-evolved all of risk in business


traditional loss exposure examples - CORRECT ANSWER -personal risk
-liability risk
-Property risks (direct loss)
-net income risks (indirect loss)


enterprise risk management (ERM) - CORRECT ANSWER a strategic business
discipline that supports the achievement of an organizations business objectives
by addressing the full spectrum of its risks and managing the combined impact of
those risks as an integrated risk portfolio


ERM program - CORRECT ANSWER considers all risks an organization faces across
the entire enterprise
-holistic/interconnected view
-headed by Chief Risk Officer
-used in large organizations
-creates "risk culture"

, "risk culture" - CORRECT ANSWER within an organization, everyone is responsible
for identifying and managing risk


types of risks within ERM - CORRECT ANSWER 1) hazard (pure) risk
2) operational risk
3) financial risk
4) strategic risk


strategic risk - CORRECT ANSWER includes long term planning and facility location


hazard (pure) risk - CORRECT ANSWER includes risks of traditional risk
management types like property and liability risk, etc.


risk management techniques used with hazard risks - CORRECT ANSWER -
insurance
-noninsurance transfers
- retention
- loss prevention / reduction


operational risk - CORRECT ANSWER risks arising from day-to-day business
operations


examples of operational risks - CORRECT ANSWER -supply chain