UGRD-BAFM6006 Risk Management

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4. WEEK 4- Crisis Management and Contingency Planning
5. Prelim Quiz 2

Started on Friday, 28 January 2022, 4:50 PM

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Question text
The overall planning for unexpected events is called________________________________.

Select one:
a.
Enterprise planning

b.
Directional planning

c.
Contingency planning

d.
Corporate planning
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Question 2
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Hazard Management is the responsibility of both employees and management.

Select one:
True 
False

Question 3
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_____________________ the risk means deciding that some risks are inherent in doing business
and that the benefits of an activity outweigh the potential risks.

Select one:
a.
Admitting

b.
Avoiding

c.
Accepting

d.
Transferring
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Question 4
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A risk management process that is based on experience and internal history.

Select one:
a.
Identifying risk

b.
Measuring risk

c.
Implementing risk

d.
Examining risk
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Question 5
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If an organization gradually formalizes its risk management process and develops a risk
culture, it will become more resistant to change.

Select one:
True
False 
Question 6
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Crisis management is a set of focused steps that deal primarily with the people involved
taken during and after a disaster.

Select one:
True 
False

Question 7
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The contingency plans should ensure that interfacing systems are identified and
contingency/disaster planning coordinated.

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True 
False

Question 8
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To _______________ a risk, the organization simply has to not participate in that activity.
Select one:
a.
lessen

b.
transfer

c.
avoid

d.
mitigate
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Question 9
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The best method of controlling a risk is to eliminate the hazard.

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True 
False

Question 10
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Immediate determination of the scope of the breach of confidentiality, integrity, and
availability of information and information assets is called loss of confidence.

Select one:
True
False 

Question 11
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Strategic risk includes the following except:

Select one:
a.
brand image

b.
government regulations

c.
new competitors

d.
brand reputation
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Question 12
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Another category of risk that includes turnover and supplier failure.

Select one:
a.
Hazard risk

b.
Financial risk

c.
Strategic risk

d.
Operational risk
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Question 13
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Good risk management doesn’t have to be resource intensive or difficult for organizations
to undertake or insurance brokers to provide to their clients.

Select one:
True 
False

Question 14
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It is something that has the potential to cause harm to people, property or the environment.

Select one:
a.
Danger
b.
Risk

c.
Hazard

d.
Problem
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Question 15
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_______________________ involves giving responsibility for any negative outcomes to another
party, as is the case when an organization purchases insurance.

Select one:
a.
Risk avoidance

b.
Risk transfer
 c.
Risk mitigation

d.
Risk control
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Question 16
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It is one of risk categories that includes fires of injuries.

Select one:
a.
Financial risk

b.
Hazard risk

c.
Strategic risk

d.
Operational risk
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Question 17
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 Question text
_____________________ involves prevention (reducing the likelihood that the risk will occur) or
mitigation, which is reducing the impact it will have if it does occur.

Select one:
a.
Risk control

b.
Risk transfer

c.
Risk mitigation

d.
Risk avoidance
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Question 18
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The following are components of Contingency Planning except:

Select one:
a.
Incident response planning

b.
Disaster recovery planning

c.
Risk mitigation planning

d.
Business continuity planning
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Question 19
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How can hazards be identified?

Select one:
a.
Incident report forms o Self-Inspection Checklists

b.
Observation & consultation

c.
Regular maintenance checks o Specialists assisting with specific issues in the workplace

d.
All of the above
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Question 20
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Another risk management process that will show you where to spend your time and money,
and allow your team to prioritize their resources.

Select one:
a.
Examining risk

b.
Identifying risk

c.
Measuring risk

d.
Implementing risk
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