Exam (elaborations)

RSK4801 EXAM PACK 2023 QUESTIONS AND ANSWERS.

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Course
RSK4801 - Operational Risk Management (RSK4801)

Institution
University Of South Africa

RSK4801 EXAM PACK 2023 QUESTIONS AND ANSWERS. CONFIDENTIAL Page 2 of 22 RSK4801 May/June 2022 [TURN OVER] RSK4801 Date: 25 May 2022 INSTRUCTIONS ON THE DAY OF ASSESSMENT: Ensure you are connected to the internet in order to log into the Invigilator App and scan this QR code. If you encoun...

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Type Exam (elaborations)
Contains Questions & answers

rsk4801 exam pack 2023 questions and answers

Institution
University of South Africa
Course
RSK4801 - Operational Risk Management (RSK4801)

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RSK4801 EXAM PACK 2023
QUESTIONS AND ANSWERS

, CONFIDENTIAL RSK4801
Page 2 of 22
May/June 2022

RSK4801

Date: 25 May 2022

INSTRUCTIONS ON THE DAY OF ASSESSMENT:

Ensure you are connected to the internet in order to log into the YOUR EXAM QR CODE & EXAM
Invigilator App and scan this QR code. ACCESS CODE

If you encounter diﬃculty in scanning the QR code, you can alternatively
enter the Exam Access Code below the QR code to start the invigilation.

Unless otherwise speciﬁed by your institution, note that you can only scan
this QR code once. If your assessment has multiple online sections, tests
or attempts, you should NOT ﬁnish the invigilation until your entire
assessment has been completed.

Only scan the QR code when the assessment formally commences.

The QR code is only scannable for a limited time and it should
Exam Access Code: 417d867d
therefore be scanned as soon as possible to start the
invigilation.

Once the QR code is scanned, ensure your media volume Is turned up and place your smartphone next to you. The
Invigilator App will notify you with a notification beep when you are required to action a request, which you should then
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SCENARIO [100]

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, CONFIDENTIAL RSK4801
Page 3 of 22
May/June 2022

Instructions:

Consider the scenario and answer ALL the related questions in the space
provided.

You have been appointed as the part-time operational risk manager of a local dirt
track car racing club, situated close to the small town, of Malelane, in Mpumalanga.
The racecourse is a gravel track and could be very slippery during the rainy season.
As such, the weather could play a major role during races.

On your arrival, the chairperson of the club arranged a meeting with you and gave
you the background to the appointment of an operational risk manager. He
mentioned that the club has 50 active members who are keen to participate in events
throughout the year (mostly on Saturdays). However, the number of saloon-type cars
that can safely race in a single race is five, due to the width and capacity of the track.
On average 30 members want to race on a Saturday. One race takes about two
hours to complete, including preparation of the cars, drivers, and other preparations.
After each race, it is necessary to clean the track, which could take another hour,
although this action is sometimes neglected because of the time constraints to
coordinate at least six events to provide all the drivers an opportunity to race. This

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, CONFIDENTIAL RSK4801
Page 4 of 22
May/June 2022

situation often leads to unhappiness because it is not always possible to fit in six
races per day due to the time restrictions. A typical programme for a Saturday is as
follows:
06h00 – 07h00: Prepare the racetrack and coordinate entries to race in various
categories (based on engine capacity)
07h00 – 09h00 Race 1
09h00 – 11h00: Race 2
11h00 – 13h00: Race 3
13h00 – 15h00 Race 4
15h00 – 17h00 Race 5
17h00 – 19h00 Race 6
19h00 – 20h00 Closing

In the winter, the last race from 17h00 to 19h00 might be problematic due to the
early sunset which could cause poor visibility for the drivers. There are no floodlights
at the track. Owing to the speed of the cars, poor visibility might cause fatal crashes.
From the club’s perspective, it is crucial to provide all its members with an
opportunity to participate in a race, otherwise, it could lead to a loss of members and
the closure of the club. The community and the local municipality furthermore placed
an embargo on the club to host any racing event on Sundays.

Members are responsible for their cars, and there are specific safety rules that must
be adhered to. However, the time restrictions result in the marshals failing to check
on these safety measures, which could have disastrous consequences. On average,
there are about four minor crashes per racing day. Most crashes do not have any
injuries, although in the past five years there were two crashes with serious injuries
to the drivers. One of these crashes also involved spectators who were too close to
the track since there are no safety railings. Spectators are warned not to sit too close
to the track. However, due to a shortage of control staff, these warnings are ignored.

The club management comprises the following members, who are also seen as
members of the board:

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