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ERM B1 M2 (Enterprise Risk Management) Exam Questions 2024
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ERM B1 M2 (Enterprise Risk Management) Exam Questions 2024
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ERM B1 M2 (Enterprise RiskManagement) Exam Questions 2024
the possibility that events will occur and affect the achievement of strategy & business objectives -
ANSWERSAccording to COSO's ERM (2017), what is the definition of risk?
(CCPIS) Culture, Capabilities & Practices, Integrated w/ Strategy-setting & Performance, that
organizations rely on to manage risk in Creating, Preserving & Realizing Value - ANSWERSHow is ERM
defined according to COSO (2017)
1. Governance & Culture (G)
2. Strategy & Objective Setting (O)
3. Performance (P)
4. Review & Revision (R)
5. [ongoing] Information, Communication & Reporting (O)
(GO PRO) - ANSWERSWhat are the components of ERM?
1. Defines Desired Culture (D)
2. Exercises Board Oversight (O)
3. Commitment to Core Values (V)
4. Capable individuals [employees] (E)
5. Operating Structure (S)
(DOVES) - ANSWERSWhat are the principles that support the *Governance & Culture* component of
ERM?
1. Evaluates Alt Strategies (S)
2. Formulates Business Objectives (O)
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