WGU D373 EXAM 1 MANAGING ENTERPRISE RISK
49 QUESTIONS WITH VERIFIED ANSWERS
2025/2026
Any issue that will impact (positively or negatively) our ability to meet our
strategic objectives. - CORRECT ANSWER Risk
1. Starts with 4 Objectives
-Strategic
-operating
-reporting
-compliance
2. Applies to all levels of the organization.
3. Has eight interrelated elements. - CORRECT ANSWER 3 Fundamental Aspects of
COSO ERM Framework
strategic, operating, reporting, compliance - CORRECT ANSWER The COSO ERM 4
main types of objectives
A process, effected by an entity's board of directors, management, and other
personnel, applied in strategy setting and across the enterprise, designed to
identify potential events that may affect the entity and manage risk to be within
its risk appetite, to provide reasonable assurance regarding the achievement of
entity objectives. - CORRECT ANSWER Enterprise Risk Management
, 8 - CORRECT ANSWER How many "interrelated elements" does the COSO ERM
framework have?
naturally occurring risk. the risk without considering internal controls. - CORRECT
ANSWER Inherent Risk
remaining exposure to risk after managing them - CORRECT ANSWER Residual Risk
1. Identify risk
2. Assess risk
3. Manage Risk - CORRECT ANSWER 3 main elements of COSO, ERM framework
Committee of Sponsoring Organization - CORRECT ANSWER What does COSO
stand for?
Objectives, Risks, Controls, Alignment - CORRECT ANSWER ORCA stands for
The level of risk a company is able to accept for a particular risk - CORRECT
ANSWER Risk tollerance
every entity exists to provide value for its stakeholders - CORRECT ANSWER What's
the underlying premise of "Enterprise Risk Management - Integrated Framework"
Strategic risk - CORRECT ANSWER The uncertainties and untapped opportunities
embedded in your strategic intent and how well they are executed.
49 QUESTIONS WITH VERIFIED ANSWERS
2025/2026
Any issue that will impact (positively or negatively) our ability to meet our
strategic objectives. - CORRECT ANSWER Risk
1. Starts with 4 Objectives
-Strategic
-operating
-reporting
-compliance
2. Applies to all levels of the organization.
3. Has eight interrelated elements. - CORRECT ANSWER 3 Fundamental Aspects of
COSO ERM Framework
strategic, operating, reporting, compliance - CORRECT ANSWER The COSO ERM 4
main types of objectives
A process, effected by an entity's board of directors, management, and other
personnel, applied in strategy setting and across the enterprise, designed to
identify potential events that may affect the entity and manage risk to be within
its risk appetite, to provide reasonable assurance regarding the achievement of
entity objectives. - CORRECT ANSWER Enterprise Risk Management
, 8 - CORRECT ANSWER How many "interrelated elements" does the COSO ERM
framework have?
naturally occurring risk. the risk without considering internal controls. - CORRECT
ANSWER Inherent Risk
remaining exposure to risk after managing them - CORRECT ANSWER Residual Risk
1. Identify risk
2. Assess risk
3. Manage Risk - CORRECT ANSWER 3 main elements of COSO, ERM framework
Committee of Sponsoring Organization - CORRECT ANSWER What does COSO
stand for?
Objectives, Risks, Controls, Alignment - CORRECT ANSWER ORCA stands for
The level of risk a company is able to accept for a particular risk - CORRECT
ANSWER Risk tollerance
every entity exists to provide value for its stakeholders - CORRECT ANSWER What's
the underlying premise of "Enterprise Risk Management - Integrated Framework"
Strategic risk - CORRECT ANSWER The uncertainties and untapped opportunities
embedded in your strategic intent and how well they are executed.
