ARM 401 Segment C Assignment 7 Questions and
Answers| Latest Update 100% Solved
Which one of the following statements is true concerning robotic process automation (RPA)?
Although RPA can help control some organizational risks, use of RPA can create other risks.
Which one of the following statements is true regarding operational risk? Operational risk is
integrated in every activity of an organization.
The board of directors of Insurance Company wants assurance that the company's recently-
instituted "commitment to risk management" has been communicated to and accepted by all
company employees. Which one of the following would be the best method to determine if
employees had been informed of the commitment to risk management and had accepted it?
Ask the internal audit department to administer a risk management questionnaire to
employees.
Chuck is Vice President of Claims for Insurance Company. The company has 37 adjusters in the
field, and needs to hire four new adjusters. Chuck is curious about the relationship between
prior experience of the adjuster and policyowner complaints. He collected data on the number
of complaints for each adjuster on staff over time. Then he used a statistical technique to
analyze the relationship between adjuster experience and complaints, and the trend of the
relationship over time. The statistical analysis confirmed that that there were significantly fewer
complaints with more experienced adjusters, and that the relationship grew stronger with more
years of experience. The technique Chuck used to relate indicators to outcomes is called
Regression analysis.
Which one of the following statements is true regarding key risk indicators (KRI)? A KRI must
be leading, rather than lagging, to be effective.
Answers| Latest Update 100% Solved
Which one of the following statements is true concerning robotic process automation (RPA)?
Although RPA can help control some organizational risks, use of RPA can create other risks.
Which one of the following statements is true regarding operational risk? Operational risk is
integrated in every activity of an organization.
The board of directors of Insurance Company wants assurance that the company's recently-
instituted "commitment to risk management" has been communicated to and accepted by all
company employees. Which one of the following would be the best method to determine if
employees had been informed of the commitment to risk management and had accepted it?
Ask the internal audit department to administer a risk management questionnaire to
employees.
Chuck is Vice President of Claims for Insurance Company. The company has 37 adjusters in the
field, and needs to hire four new adjusters. Chuck is curious about the relationship between
prior experience of the adjuster and policyowner complaints. He collected data on the number
of complaints for each adjuster on staff over time. Then he used a statistical technique to
analyze the relationship between adjuster experience and complaints, and the trend of the
relationship over time. The statistical analysis confirmed that that there were significantly fewer
complaints with more experienced adjusters, and that the relationship grew stronger with more
years of experience. The technique Chuck used to relate indicators to outcomes is called
Regression analysis.
Which one of the following statements is true regarding key risk indicators (KRI)? A KRI must
be leading, rather than lagging, to be effective.
