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CISI-Managing Operational Risk in Financial Institutions
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Question 1 of 10
1. Question
Which of the given statements does indicate the least chances of technological failures?
Correct
This is only by a dialogue between IT and the client that companies can create a full understanding of their technology demands, technologies and risks to recognize the most important business processes to knowledge resources. The same protections would then be applied to the most important IT systems and documents, the bank’s crown jewels.
Incorrect
This is only by a dialogue between IT and the client that companies can create a full understanding of their technology demands, technologies and risks to recognize the most important business processes to knowledge resources. The same protections would then be applied to the most important IT systems and documents, the bank’s crown jewels.
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Question 2 of 10
2. Question
Choose an inappropriate solution from the list of possible solutions to combat against IT failures.
Correct
Mobile transactions have expanded exponentially, presenting malicious external actors with billions of new entry points into bank systems. The complexity and growing vulnerability of the underlying IT systems are of equal concern.
Incorrect
Mobile transactions have expanded exponentially, presenting malicious external actors with billions of new entry points into bank systems. The complexity and growing vulnerability of the underlying IT systems are of equal concern.
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Question 3 of 10
3. Question
The FCA describes a complaint as an indication of (oral or written) disappointment with the delivery, or lack, of a financial service. It allegations how you endured (or could suffer):
Correct
The FCA defines a complaint as an expression of dissatisfaction (oral or written) about the provision of, or failure to provide, a financial service. It alleges how you have suffered (or may suffer) financial loss, material distress or material inconvenience.
Incorrect
The FCA defines a complaint as an expression of dissatisfaction (oral or written) about the provision of, or failure to provide, a financial service. It alleges how you have suffered (or may suffer) financial loss, material distress or material inconvenience.
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Question 4 of 10
4. Question
It is difficult to calculate the expense of credibility harm, partially because it may arise from certain threats as a secondary effect. Choose the correct, practical measurement process.
Correct
One way in which it can be measured is through changes in stock prices, which are well placed to capture the many indirect effects of reputation damage through their reflection of lost future earnings. Such projected shortfalls in earnings might then inform capital planning.
Incorrect
One way in which it can be measured is through changes in stock prices, which are well placed to capture the many indirect effects of reputation damage through their reflection of lost future earnings. Such projected shortfalls in earnings might then inform capital planning.
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Question 5 of 10
5. Question
Given the fragmented complexity of all outlets and effects, credibility risk reduction needs to become part of a organization employee’s everyday life. From the specified choices, pick the best effective strategy for handling reputational risks.
Correct
Focusing risk control about whether to make specific company choices is the best effective strategy for handling reputational risks.
Incorrect
Focusing risk control about whether to make specific company choices is the best effective strategy for handling reputational risks.
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Question 6 of 10
6. Question
Which of the following is a misconception about the reputational risk of a management or a business?
Correct
Reputation risk management becomes an integral part of business decision processes, ranging from new product approval and credit decisions to procurement.
Incorrect
Reputation risk management becomes an integral part of business decision processes, ranging from new product approval and credit decisions to procurement.
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Question 7 of 10
7. Question
With companies seeking to incorporate reputation risk management into their business decisions, robust prioritization is needed. The credibility threats that are implicit in business decisions can be divided into three groups to give priority. Pinpoint the incorrect one.
Correct
The financial and reputation impacts of a risk are highly correlated. The financial and reputation impacts diverge. The reputation risk exists without a corresponding financial impact.
Incorrect
The financial and reputation impacts of a risk are highly correlated. The financial and reputation impacts diverge. The reputation risk exists without a corresponding financial impact.
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Question 8 of 10
8. Question
We prescribe the following measures to get the credibility risk management phase going. Choose the right one.
Correct
Integrate Brand Hazard Concerns in Current Threat Management Strategies, Policies and Controls and perform personalized remediation measures where gaps need to be filled.
Incorrect
Integrate Brand Hazard Concerns in Current Threat Management Strategies, Policies and Controls and perform personalized remediation measures where gaps need to be filled.
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Question 9 of 10
9. Question
A organization should develop and retain sufficient structures and controls to handle operating threats that could arise from inadequacies or deficiencies in its processes and procedures (including, if applicable, third party vendors, agents and others ‘ systems and processes). When doing so a company will take into account:
Correct
Its arrangements for the continuity of operations in the event that a significant process or system becomes unavailable or is destroyed.
Incorrect
Its arrangements for the continuity of operations in the event that a significant process or system becomes unavailable or is destroyed.
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Question 10 of 10
10. Question
A company will insure that its procedures and structures are sufficient for evaluating external documents before issue (including examination by its regulatory officers, legal and marketing officers or adequately trained professional advisors). In doing so, a company should look at:
Correct
To what degree the article uses conventional terms (which are generally recognized and tested in court) or non-standard terms (the meaning of which might not yet be determined or the legitimacy of which may be uncertain).
Incorrect
To what degree the article uses conventional terms (which are generally recognized and tested in court) or non-standard terms (the meaning of which might not yet be determined or the legitimacy of which may be uncertain).