MORF

MORF practice questions, page 3 of 6, with answer review and explanations.

Question 11

How is the risk progress report used in the 'implement' step?

  1. Identify the status against the activity's stated measures for risk management
  2. Identify the scales used to measure the probability and impact of a risk
  3. Describe actions to enhance how risk management is performed
  4. Gain agreement for the amount of risk that can be taken

Question 12

Which document describes how risk management activities will support the achievement of corporate objectives throughout an organization?

  1. Risk management strategy
  2. Risk management process guide
  3. Risk progress report
  4. Risk management policy

Question 13

Which is a goal of the 'assess - evaluate' step?

  1. Evaluate the impact, probability and how soon risks might occur
  2. Calculate the net effect of risks facing the activity
  3. Assess and evaluate the effectiveness of procedures for managing risks
  4. Evaluate the net cost of planned risk responses

Question 14

Which of the M_o_R framework core concepts is informed by corporate governance principles and the international standard for risk management ISO31000:2009?

  1. M_o_R approach
  2. M_o_R principles
  3. M_o_R process
  4. Embedding and reviewing M_o_R

Question 15

What ensures that an organization's implementation of the M_o_R approach' and 'M_o_R process' undergoes frequent improvement to remain effective?

  1. Corporate governance
  2. Internal controls
  3. Embedding and reviewing
  4. Contingency planning