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ARM 400 EXAM NEWEST ACTUAL EXAM AND STUDY GUIDE PRACTICE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) | ALREADY GRADED A+$20.99
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ARM 400 EXAM NEWEST ACTUAL
EXAM AND STUDY GUIDE PRACTICE
QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |
ALREADY GRADED A+
An organization evaluates key stakeholders' attitude
toward risk in order to Correct Answer Understand what
risks are acceptable and to develop an effective
enterprise-wide risk management program
Twice a year, Medford Factory gives employees a day off
to work in the community where the factory is located. The
employees prepare and serve a holiday meal for members
of the community, and they clean the neighborhood park
in the spring. This practice is based on Medford Factory's
Correct Answer Social responsibility
Which one of the following types of risk is best handled at
the risk center level? Correct Answer Minor risks that do
not have consequences outside the unit are best managed
at the risk center level
Which one of the following statements is correct regarding
an organizations code of ethics? Correct Answer The code
of ethics should include principles and concepts that are
dynamic enough to remain relevant in a rapidly changing
business environment
,One advantage that a national organization would derive
from creating risk centers is that it Correct Answer Allows
for participation by operational managers who may
contribute to the risk analysis
An organization evaluates key stakeholders attitude
toward risk in order to Correct Answer Understand what
risks are acceptable and to develop an effective
enterprise-wide risk management program
Which one of the following measures the progress an
organization has made toward attaining it's goals within a
specific amount of time? Correct Answer Key performance
indicator
One of the strategic objectives for Cromley Insurance
Group is customer satisfaction. Which one of the following
is a critical success factor (CSF) that would help refine this
strategic objective? Correct Answer High customer
retention
Which one of the following terms refers to information
used as a basis for measuring the significance of a risk?
Correct Answer Risk criteria
Key risk indicators (KRIs) can be established for various
levels within an organization. Which one of the following
levels of an organization usually has the most detailed
KRIs? Correct Answer Department level
, Which one of the following statements is true regarding
the business process management (BPM) life cycle
model? Correct Answer The model is driven by the
collaboration of human and technological input
The service representatives for Tauton Insurance will be
eligible for a bonus only if the customer retention rate is
increased by 5%. This is an example of which of the
following standards? Correct Answer A corrective
measure linked with an identified tolerance level
Carbon manufacturing company just hired a new chief risk
officer and one of his first tasks was to recommend
updated key risk indicators to the chief executive officer.
The CEO was especially interested in KRIs measuring the
company's profitability. One area of measurement that the
new CRO might want to use is Correct Answer Aged
accounts receivable
Which one of the following answers the question, "What
shows we are a success?" Correct Answer Key
performance indicator
Key risk indicators (KRIs) help organizations identify
issues that can lead to losses. Effective KRIs are based
on a company's Correct Answer Strategic objectives
An organization's goals and objectives are met by
establishing and attaining measurable standards for the
many activities it pursues. Which of the following
statements is correct with respect to those standards?
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