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CPFO-Risk Management Exam Questions with Verified Answers Latest Update 2024 Already Passed $5.99   Add to cart

Exam (elaborations)

CPFO-Risk Management Exam Questions with Verified Answers Latest Update 2024 Already Passed

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CPFO-Risk Management Exam Questions with Verified Answers Latest Update 2024 Already Passed What is Risk? - Answers The chance of loss. What is Operational Risk? - Answers Risks encountered in the course of delivering government services. What is Speculative Risk? - Answers Risks associated wit...

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  • October 28, 2024
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • CPFO-Risk Management
  • CPFO-Risk Management
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CPFO-Risk Management Exam Questions with Verified Answers Latest Update 2024 Already Passed

What is Risk? - Answers The chance of loss.

What is Operational Risk? - Answers Risks encountered in the course of delivering government services.

What is Speculative Risk? - Answers Risks associated with investments.

What is the goal of risk management? - Answers 1 to create a safe workplace; 2 to prevent catastrophic
financial loss; 3 to provide budgetary stability

What are the benefits of a risk management program? - Answers 1 allows for more effective use of govt
funds (than to buy insurance, property replacement, paying liability claims); 2 increases worker
productivity; 3 reduces uncertainties associated with future projects.

What are the fundamental activities in a risk management program? - Answers 1 risk identification; 2
risk evaluation; 3 risk treatment; 4 implementation

What is risk identification? - Answers Determining where there is potential exposure to loss.

What is risk evaluation? - Answers Viewing the potential for loss on the basis of frequency and severity
of an event.

What is risk treatment? - Answers Planning and developing a risk management program using
appropriate tools and techniques, such as risk control and risk financing.

What is implementation of a risk program? - Answers Taking steps to finance, begin and monitor the
program.

What risks are unique to public sector? - Answers 1 police/fire are dangerous and have potential for high
loss that govt cannot control risk by discontinuing a service; 2 broad scope of services (largest property
owner); 3 lacks total control over its environment (cannot limit access to its property)

What are the duties of the Risk Manager? - Answers 1 purchase insurance; 2 loss control; 3
administering claims; 4 monitoring litigation

What are some of the newer risks that concerns govt? - Answers 1 law enforcement (racial profiling,
video cameras); 2 employee-related (harassment, wrongful termination); 3 technology (email, privacy,
e-commerce)

What is the Alternative Market? - Answers It is risk pools or self-insurance, methods govts had to go to
when insurance became unaffordable or unavailable.

What is Enterprise Risk Management? - Answers It combines operational and financial risk.

What are the 7 sources of risk? - Answers 1 physical environment; 2 legal ; 3 operational; 4 political; 5
social; 6 economic; 7 cognitive

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