IC86 RISK MANAGEMENT - 12
| Q1.Identify the strategic objectives of ERM - 1. Strategic high-level goals: designed to support the entity’s mission or vision 2. Operations: Efficiency of operations, including achievement of performance goals and safeguarding against loss 3. Reporting: reliable financial and operational data and reports 4. Compliance: with laws and regulation |
| 1,3 and 4 |
| 2,3 and 4 |
| 2 and 3 |
| 1,2 and 4 |
| All 1,2,3 and 4 |
| Q2.The main goal of ART was ____ by means of risk management solutions by deploying self-financing mechanisms. |
| To analyze entire risk |
| To retain more risks |
| To accept the total risk |
| To eliminate the entire risk |
| To transfer total risk |
| Q3.Which of the following risks can cause direct harm or damage? |
| Social Risk |
| Dynamic Risk |
| Market Risk |
| Physical Risk |
| Both 1 and 4 |
| Q4.As per the classification of Risks - 'Risk Associated with Individuals' will come under which type of risk? |
| Particular Risk |
| Market Risk |
| Fundamental Risk |
| Dynamic Risk |
| Liability Risk |
| Q5.In case an organization suffers a loss, what will be the basic objective(s) of the management in such a case? 1. Survival 2. Stability of Earnings 3. Growth |
| Only 1 |
| Only 2 |
| Only 3 |
| Both 1 and 3 |
| Both 2 and 3 |
| Q6.This person welcomes the existence of risk and uncertainty. He is willing to take the chance of gain against the odds posed by risks. Under which category of risk attitude can this person be classified? 1. Risk Averter 2. Risk Neutral 3. Risk Preferer |
| Only 1 |
| Only 2 |
| Only 3 |
| Both 2 and 3 |
| Both 1 and 2 |
| Q 7. Which organization introduced new regulations following a series of high-profile corporate frauds and accounting scandals? |
| IRDA |
| Bank of International Settlements |
| Committee of Sponsoring Organisations |
| London Stock Exchange |
| Hampel Committee |
| Q8.Identify the activities in a risk management program that relate to risk control? 1. Minimizing losses 2. Risk Prevention 3. Payment of losses |
| Only 2 |
| Only 3 |
| Both 1 and 3 |
| Both 2 and 3 |
| All 1, 2 and 3 |
| Q 9. RENTAL VALUE LOSS is an example of __. |
| Reduction in Receivables |
| Contingent business interception |
| Increase in expenses |
| Consequential Loss Analysis |
| Loss on profits of finished goods |
| Q10.When considering the impact of a disaster, it should be remembered that - 1. It will never happen at a convenient time 2. It will be predictable 3. The extent of impact will vary from incident to incident |
| Only 1 and 2 |
| Only 2 and 3 |
| Only 1 and 3 |
| Only 1 |
| All 1, 2 and 3 |