Risk management| 20 Questions| Correct Answers| Verified(SCORED A+)

Tradition risk management is concerned primary with? - ANSWER Pure risk The evolution of risk management is traceable to? - ANSWER All of the above Traditional risk management? - ANSWER Draws on several other disciplines but is a distinct discipline and function Enterprise risk management refers to? - ANSWER Intagrated management of a firms pure and speculative risks The risk that a firms IT system will fail is an example of? - ANSWER Operational risk Financial risk management encompasses management of? - ANSWER Pure, speculative, strategic risk Henri Fayol's place in the history of risk management arises from? - ANSWER His recognition of risk management as one of six broad functions of business What technique is for dealing with risk maybe be said to represent a special variation of other techniques? - ANSWER Sharing Risk management contributes to organization profit? - ANSWER All of the above Involuntary retention occurs when? - ANSWER All of the above Risk advoidande should be used in those instances in which? - ANSWER The exposure has catastrophic potential and the risk cannot be reduced or transferred risk management represents the merging of the specialities? - ANSWER Decision theory, risk financing, risk control The type of tententuon that is always undesirable is? - ANSWER Unintentional rentention The two broad approaches to dealing with risk are? - ANSWER Risk control and risk financing Statement about risk management is correct? - ANSWER Risk management has revelancr for organizations of all sizes