WGU D373 WORKPLACE RISK MANAGEMENT EXAM
92 QUESTIONS WITH VERIFIED ANSWERS
2025/2026
the effect of uncertainty on objectives
neither positive or negative - it is potential of what good happen; can bring good,
bad or change
could take the form of threats or opportunity
have immediate, short time and long term affects - CORRECT ANSWER risk
ability to not just withstand high impact events or shocks but to improve and
benefit from them - CORRECT ANSWER antifragility
coordinated activities to direct and control an org with regard to risk - CORRECT
ANSWER risk management
ON THE TEST
knowns knowns - events that are to be expected so involve little uncertainty ;
easiest to manage
,known unknowns - uncertainty who know exists but we don't know about their
probability of impact; we know the risk but don't know the affect of the risk
unknown unknowns - risk that we do not know exist; events that blindside;
unknown knowns - risks we mistakenly think that we understand - CORRECT
ANSWER risk knowns knowns, known unknowns, unknown unknowns, unknown
knowns
black swans are unforeseen outlier events that are extremely rare, have a major
impact, and when viewed in hindsight are reasonably predictable (eg results of
abrupt changes in technology or sudden sociopolitical shifts) - CORRECT ANSWER
Nassim Taleb's "black swan" theory
1. internal and preventable - come within the org and can include violations of
ethics or processes
2. strategy - desirable uncertainty an org willingly accepts when it commits to a
strategy
3. external - outside the org and beyond its control; changes in economy or laws,
disruptive tech and inability of trained employees - CORRECT ANSWER three
categories of risk - Kaplan and Mikes's
, ON EXAM
An enterprise risk management (ERM) system, such as COSO ERM, sees risk as an
integrated issue that must be managed across divisions and functions in an
enterprise.
strategy - risks that affect the org ability to achieve its objections (investment,
innovation, employee engagement, talent management,
operations - risks that affect a myriad of way the org created value (sustainability,
supply chain,. health and safety, data privacy, process efficiencies, performance
management, global assignments, benefits admin)
financial reporting - risks that affect the accuracy and timelines of info about the
org's financial performance and condition (growth of assets, misappropiation of
assets, data privacy, analytics and support)
compliance - risks associated with meeting requires laws and regulations
(workplace requirements, reporting requirements) - CORRECT ANSWER COSO
Enterprise Risk Management—Integrated Framework (ERM Framework) - four
categories
structural - orgs in a silo structure tend to respond in an operational instead of
strategic manner; few channels of communication about risks and monitoring of
risks;
cognitive - requires imagination or openness to change;
92 QUESTIONS WITH VERIFIED ANSWERS
2025/2026
the effect of uncertainty on objectives
neither positive or negative - it is potential of what good happen; can bring good,
bad or change
could take the form of threats or opportunity
have immediate, short time and long term affects - CORRECT ANSWER risk
ability to not just withstand high impact events or shocks but to improve and
benefit from them - CORRECT ANSWER antifragility
coordinated activities to direct and control an org with regard to risk - CORRECT
ANSWER risk management
ON THE TEST
knowns knowns - events that are to be expected so involve little uncertainty ;
easiest to manage
,known unknowns - uncertainty who know exists but we don't know about their
probability of impact; we know the risk but don't know the affect of the risk
unknown unknowns - risk that we do not know exist; events that blindside;
unknown knowns - risks we mistakenly think that we understand - CORRECT
ANSWER risk knowns knowns, known unknowns, unknown unknowns, unknown
knowns
black swans are unforeseen outlier events that are extremely rare, have a major
impact, and when viewed in hindsight are reasonably predictable (eg results of
abrupt changes in technology or sudden sociopolitical shifts) - CORRECT ANSWER
Nassim Taleb's "black swan" theory
1. internal and preventable - come within the org and can include violations of
ethics or processes
2. strategy - desirable uncertainty an org willingly accepts when it commits to a
strategy
3. external - outside the org and beyond its control; changes in economy or laws,
disruptive tech and inability of trained employees - CORRECT ANSWER three
categories of risk - Kaplan and Mikes's
, ON EXAM
An enterprise risk management (ERM) system, such as COSO ERM, sees risk as an
integrated issue that must be managed across divisions and functions in an
enterprise.
strategy - risks that affect the org ability to achieve its objections (investment,
innovation, employee engagement, talent management,
operations - risks that affect a myriad of way the org created value (sustainability,
supply chain,. health and safety, data privacy, process efficiencies, performance
management, global assignments, benefits admin)
financial reporting - risks that affect the accuracy and timelines of info about the
org's financial performance and condition (growth of assets, misappropiation of
assets, data privacy, analytics and support)
compliance - risks associated with meeting requires laws and regulations
(workplace requirements, reporting requirements) - CORRECT ANSWER COSO
Enterprise Risk Management—Integrated Framework (ERM Framework) - four
categories
structural - orgs in a silo structure tend to respond in an operational instead of
strategic manner; few channels of communication about risks and monitoring of
risks;
cognitive - requires imagination or openness to change;
