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CISI-Managing Operational Risk in Financial Institutions
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Question 1 of 10
1. Question
The second-moment strategy has some additional advantages. Choose the correct one.
Correct
Risk assessment goals can be extracted from the Pareto model utilizing just the volatility of each particular risk factor and the association between risk factors. It is one of the main advantages in a second-moment approach.
Incorrect
Risk assessment goals can be extracted from the Pareto model utilizing just the volatility of each particular risk factor and the association between risk factors. It is one of the main advantages in a second-moment approach.
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Question 2 of 10
2. Question
Planning for risk management includes finding ways to minimize or remove any risks to the project, as well as opportunities to increase their effects. For THREATS the option of response strategies does not include:
Correct
For Risks, the choice of coping approaches may not provide the choice of’ No exploitation: does not integrate work or change the initiative to guarantee that there is an opportunity.’
Incorrect
For Risks, the choice of coping approaches may not provide the choice of’ No exploitation: does not integrate work or change the initiative to guarantee that there is an opportunity.’
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Question 3 of 10
3. Question
Whenever there are risks or opportunities the project manager responds:
Correct
The execution of the plan must be time-bound; the intervention chosen must be appropriate to the degree of the risk; a single response can be an act of several risk events; a plan should be selected not only by the project manager, but also by the staff, partners and experts.
Incorrect
The execution of the plan must be time-bound; the intervention chosen must be appropriate to the degree of the risk; a single response can be an act of several risk events; a plan should be selected not only by the project manager, but also by the staff, partners and experts.
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Question 4 of 10
4. Question
The list of steps to monitor and control risks does not include:
Correct
The list of risk management and control measures does not involve risk analysis, examination, but little oversight of the iterative process of the project.
Incorrect
The list of risk management and control measures does not involve risk analysis, examination, but little oversight of the iterative process of the project.
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Question 5 of 10
5. Question
Surveillance results And monitoring risks are:
Correct
The outputs are: updates of the risk log, requests for improvement, proposed preventive and corrective measures, updates of the project plan, updates of the project document, updates of the organizational process properties.
Incorrect
The outputs are: updates of the risk log, requests for improvement, proposed preventive and corrective measures, updates of the project plan, updates of the project document, updates of the organizational process properties.
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Question 6 of 10
6. Question
What of the solutions is available to help the project manager show that all threats are known, a mitigation plan is available for each big danger, and danger response owners are prepared to take action?
Correct
Danger assessments allow the project manager show that all threats are known, a contingency strategy is developed for each big risk, and risk management owners are prepared to take action.
Incorrect
Danger assessments allow the project manager show that all threats are known, a contingency strategy is developed for each big risk, and risk management owners are prepared to take action.
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Question 7 of 10
7. Question
What is meant by residual risks?
Correct
There are risks that remain after completion of risk response planning. Residual risks are those risks that are accepted and contingency plans are developed.
Incorrect
There are risks that remain after completion of risk response planning. Residual risks are those risks that are accepted and contingency plans are developed.
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Question 8 of 10
8. Question
The following factors affect the evaluation which may involve escalation of an incident:
Correct
If the accident is classified as severe or serious (red effect) using the HSE Event Management Framework and Protocol Effect Table and the current control systems are found to be insufficient, where the incident has resulted in death and/or serious harm, where an incident results or may result in public safety concerns for staff, service users or other, where incident investigation indicates that a look back review is required and Where incident investigation indicates that clinical/service performance review is required.
Incorrect
If the accident is classified as severe or serious (red effect) using the HSE Event Management Framework and Protocol Effect Table and the current control systems are found to be insufficient, where the incident has resulted in death and/or serious harm, where an incident results or may result in public safety concerns for staff, service users or other, where incident investigation indicates that a look back review is required and Where incident investigation indicates that clinical/service performance review is required.
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Question 9 of 10
9. Question
The following considerations affect the assessment which may require an escalation of a risk:
Correct
Where risks have been graded as scores of 15 or higher (red risk) following risk evaluation using the risk matrix set out in the HSE Risk Assessment Method.
Incorrect
Where risks have been graded as scores of 15 or higher (red risk) following risk evaluation using the risk matrix set out in the HSE Risk Assessment Method.
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Question 10 of 10
10. Question
In accordance with the Regional Accountability Principle, the Regional Operations Director (RDO) will be responsible for managing risks and incidents in his / her area of responsibility (including those escalated to regional level). This applies to the following:
Correct
Discussion of action strategies, recognition of the need to improve danger or accident to the National Incident Management Team (hereinafter referred to as the’ NIMT’ in this document), review of the response plan to insure that it is implemented and finding potential for joint learning.
Incorrect
Discussion of action strategies, recognition of the need to improve danger or accident to the National Incident Management Team (hereinafter referred to as the’ NIMT’ in this document), review of the response plan to insure that it is implemented and finding potential for joint learning.