CISI-Managing Operational Risk in Financial Institutions
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Question 1 of 10
1. Question
Choose the correct statement about the principles and applications of front, middle and back-office.
Correct
Post-market order management is carried out by the back office: verification, billing, arbitration and accounting.
Incorrect
Post-market order management is carried out by the back office: verification, billing, arbitration and accounting.
Question 2 of 10
2. Question
Risk is any occurrence that could hinder an organization from achieving its goals or optimizing efficiency. Ultimately there is no financial or economic activity, without taking risks. A distinction is made between the types of activities within the context of business activities. Pick the right Operating Risk definition.
Correct
Operational danger is the probability of a human mistake, a malfunction (usually of information systems) or an external event affecting the accomplishment of the Bank’s objectives.
Incorrect
Operational danger is the probability of a human mistake, a malfunction (usually of information systems) or an external event affecting the accomplishment of the Bank’s objectives.
Question 3 of 10
3. Question
There are some gradual steps to the risk strategy. What one of these is incorrect?
Correct
Assess the risk, which means assessing the possible losses incurred by danger recognition and, subsequently (something that is much more difficult) calculating the likelihood of the accident.
Incorrect
Assess the risk, which means assessing the possible losses incurred by danger recognition and, subsequently (something that is much more difficult) calculating the likelihood of the accident.
Question 4 of 10
4. Question
Use the wrong argument about a organization based in Silo.
Correct
The Silo mindset as defined in the Business Dictionary is present where certain units or industries within the same company do not want to exchange knowledge with others.
Incorrect
The Silo mindset as defined in the Business Dictionary is present where certain units or industries within the same company do not want to exchange knowledge with others.
Question 5 of 10
5. Question
Several components in the transition process aid in thinking about the core elements that are essential to sustainable change: the seven principles of enterprise and the structure for enterprise architecture. What declaration isn’t a principle?
Correct
Adopting a rational approach to transforming businesses is not a principle of enterprise and the structure for enterprise architecture. The rightful principles include identifying and assessing appropriate stakeholders ‘ interest proposals and emphasis on Business Before Effectiveness.
Incorrect
Adopting a rational approach to transforming businesses is not a principle of enterprise and the structure for enterprise architecture. The rightful principles include identifying and assessing appropriate stakeholders ‘ interest proposals and emphasis on Business Before Effectiveness.
Question 6 of 10
6. Question
Which of the following statements describes the pros of internal/external outsourcing?
Correct
Many experts agree that a organization will concentrate on operations that are essential to its value proposition and boost its competitive edge by turning off non-core tasks to a trustworthy third party.
Incorrect
Many experts agree that a organization will concentrate on operations that are essential to its value proposition and boost its competitive edge by turning off non-core tasks to a trustworthy third party.
Question 7 of 10
7. Question
The preceding statements are about the definition and types of outsourcing. Choose the correct one.
Correct
Outsourcing consists of two words:’ out ‘ and’ sourcing;’ sourcing applies to’ changing jobs, commitments and decision-making powers to another’ Businesses want to have work completed, because they can do so cheaper, faster and stronger.
Incorrect
Outsourcing consists of two words:’ out ‘ and’ sourcing;’ sourcing applies to’ changing jobs, commitments and decision-making powers to another’ Businesses want to have work completed, because they can do so cheaper, faster and stronger.
Question 8 of 10
8. Question
Which of the given statements describes external outsourcing best?
Correct
External outsourcing shall be the transfer to foreign outsourcers of the output of distinct or mutually connected roles.
Incorrect
External outsourcing shall be the transfer to foreign outsourcers of the output of distinct or mutually connected roles.
Question 9 of 10
9. Question
Long-term partnerships, short-term partnerships and personal partnerships are branches of:
Correct
Divisions of joint activities of internal outsourcing include long-term partnership, short-term partnership, and single partnerships.
Incorrect
Divisions of joint activities of internal outsourcing include long-term partnership, short-term partnership, and single partnership.
Question 10 of 10
10. Question
Choose a statement from the given statements that is not a true con of outsourcing.
Correct
This may encourage financial companies to gain the necessary skills at a cheaper expense than feasible by hiring internal employees and enabling companies to focus on their core sector.
Incorrect
This may encourage financial companies to gain the necessary skills at a cheaper expense than feasible by hiring internal employees and enabling companies to focus on their core sector.
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