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CISI-Managing Operational Risk in Financial Institutions
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Question 1 of 10
1. Question
Select the inappropriate statement about the impact of technological advances, the consequences and the dependence on them.
Correct
The insufficient comment on the effect, implications and dependency of technical developments on them is that technology has generated a huge rise in exposure and usage of data and social networking, impacting customer preferences and the ability of financial firms to utilize consumer data to assess, support and sell their goods and services in the opposite direction.
Incorrect
The insufficient comment on the effect, implications and dependency of technical developments on them is that technology has generated a huge rise in exposure and usage of data and social networking, impacting customer preferences and the ability of financial firms to utilize consumer data to assess, support and sell their goods and services in the opposite direction.
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Question 2 of 10
2. Question
From the given statements, choose the statement that truly does not defines the disadvantage of advances in technology and reliance upon it.
Correct
Technology also generated a huge increase in data and exposure of and usage of social media, impacting user preferences and the ability of financial firms of leverage consumer data to promote, target and advertise their goods and services is an benefit.
Incorrect
Technology also generated a huge increase in data and exposure of and usage of social media, impacting user preferences and the ability of financial firms of leverage consumer data to promote, target and advertise their goods and services is an benefit.
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Question 3 of 10
3. Question
While brand owners strive to meet consumer demands, their actions have resulted in a number of developments affecting the packaging for customers. Including:
Correct
Although brand owners are trying to meet consumer demands, their activities have led to a number of changes impacting the customer packaging. Including micro segmentation of consumer which drives product launches.
Incorrect
Although brand owners are trying to meet consumer demands, their activities have led to a number of changes impacting the customer packaging. Including micro segmentation of consumer which drives product launches.
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Question 4 of 10
4. Question
“Hershey’s expanded significantly the amount of seasonal or holiday-based advertisements, including six separate seasonal / holiday periods for the peanut butter cup collection of his Reese.” This is one example from:
Correct
“Hershey also significantly expanded the frequency of seasonal or holiday-based advertisements, with six separate seasonal / holiday cycles for the peanut butter cup series of his Reese.” It is one indication of the advertising behavior.
Incorrect
“Hershey also significantly expanded the frequency of seasonal or holiday-based advertisements, with six separate seasonal / holiday cycles for the peanut butter cup series of his Reese.” It is one indication of the advertising behavior.
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Question 5 of 10
5. Question
What of the marketing tips offered is unsatisfactory for generating a need for your new product?
Correct
Inconsistent innovation is an unsatisfactory marketing tip for creating a need for your new product. Instead, the emphasis would be more on invention and imagination.
Incorrect
Inconsistent innovation is an unsatisfactory marketing tip for creating a need for your new product. Instead, the emphasis would be more on invention and imagination.
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Question 6 of 10
6. Question
Choose the incorrect statement regarding Operational risk measurement.
Correct
Organizations ought to show that their approach to resource assessment is properly streamlined and connected to an effective risk control framework.
Incorrect
Organizations ought to show that their approach to resource assessment is properly streamlined and connected to an effective risk control framework.
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Question 7 of 10
7. Question
If business services are interrupted, feedback will have to be provided as long as the firm is conscious that there is a problem with notifications when problems become apparent or appear. Incidents are considered content unless they:
Correct
Incidents are considered content unless they include any sort of risk unauthorised access of information and communication systems.
Incorrect
Incidents are considered content unless they include any sort of risk unauthorised access of information and communication systems.
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Question 8 of 10
8. Question
Organizations will seek constructive remedies in situations when consumers have incurred damage due to the company’s shortcomings. Not only is this the right thing to do, it should also help mitigate the risk of lawsuits and grievances, while saving costs and long-term administrative resources, and a well-run initiative should also serve to preserve the credibility of the company. Any consumer redress scheme may rely on the details but for any redress scheme the following are points to consider:
Correct
The issue of potential responsibility to third parties affected by customers of the company that do not accept payments must be taken into account.
Incorrect
The issue of potential responsibility to third parties affected by customers of the company that do not accept payments must be taken into account.
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Question 9 of 10
9. Question
Choose the proper business value statement for organizational risk management.
Correct
When businesses take the initiative to perform their own internal analysis to determine the causes to make suggestions, that would speed up the process and enable the organization to have a quality and process management dimension.
Incorrect
When businesses take the initiative to perform their own internal analysis to determine the causes to make suggestions, that would speed up the process and enable the organization to have a quality and process management dimension.
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Question 10 of 10
10. Question
Which of the following is not a benefit for businesses who carefully manage operational risks?
Correct
Operational risk leads to loss prevention due to incorrectly defined threats. This statement depicts the disadvantage of it rather than a benefit.
Incorrect
Operational risk leads to loss prevention due to incorrectly defined threats. This statement depicts the disadvantage of it rather than a benefit.