Enterprise risk mgmt - Study guides, Class notes & Summaries

Maintaining backup copies of files, correcting data entry errors, and resubmitting transactions for subsequent processing are examples of what type of control? - ANS Corrective Control According to The Sarbanes-Oxley Act of 2002, the audit committee of the board of directors is directly responsible for - ANS hiring and firing external auditors Internal control is often referred to as a(n) ________, because it permeates an organization's operating activities and is an integ...

CPCU 500 Questions and Answers Rated A+ Risk the uncertainty about outcomes, with the possibility that some of the outcomes can be negative. Quantified by knowing the probability of the possible outcomes Probability the likelihood that an outcome or event will occur. Probabilities are stated as a decimal figure, a percentage, or a fraction. What are the 2 elements associated with risk? uncertainty of outcome + possibility of negative outcome Pure Risk a chance of loss or no los...

CGFM TEST 3 QUESTIONS AND ANSWERS GRADED A Three Broad Government Spending Purposes 1) Current Operations 2) Capital Outlays 3) Debt Service Present Value Analysis - Three Components Determines what $$ Rec'd in Future is Worth Today 1) inflation component - year over year loss in value 2) enterprise component - inherent risk 3) unique component - Budget Accounting and Procedures Act of 1950 Requires the head of each federal agency to establish and maintain I/C's. Federal Managers Financial...

CISA Chapter 2 Exam 218 Questions with Verified Answers Organizations should define IT strategies, policies, standards and operating procedures in line with... - CORRECT ANSWER organizational goals and objectives In order to provide assurance to stakeholders that IT services are aligned with the business vision, mission and objectives, top management should implement... - CORRECT ANSWER an IT governance framework The committees, made up of _____________ will examine and approve the IT s...

CAPM Practice Exam 260 Questions with Verified Answers 3 things that describe role of a PM ?? - CORRECT ANSWER 1. responsible for the final result of the team 2. need to integrate multiple disciplines 3. communicate with team Cost Management Plan has these 3 characteristics - CORRECT ANSWER 1. describes how project costs will be planned, structured, & controlled 2. may specify level of precision, degree to which activity cost estimates will be rounded up or down 3. may specify varia...

Three Broad Government Spending Purposes - correct answer1) Current Operations 2) Capital Outlays 3) Debt Service Present Value Analysis - Three Components - correct answerDetermines what $$ Rec'd in Future is Worth Today 1) inflation component - year over year loss in value 2) enterprise component - inherent risk 3) unique component - Budget Accounting and Procedures Act of 1950 - correct answerRequires the head of each federal agency to establish and maintain I/C's. Federal M...

CISA Domain 2 Exam 100 Questions with Verified Answers What does EGIT stand for? What is it's meaning? - CORRECT ANSWER Enterprise Governance of Information and Technology. It a system composed of stakeholders, board of directors, department managers, and internal customers who provide input into the IT decision making process. What are the three broad processes in the EGIT framework are: - CORRECT ANSWER 1. IT Resource Management - Focuses on maintainng an updated inventory of all IT res...

©PREP4EXAMS 2024/2025 REAL EXAM DUMPS Tuesday, August 6, 2024 10,57 AM 1 Certified Information Security Manager - Chapter 3 Questions and Answers (100% Correct) 3.0 INTRODUCTION What is the purpose of the information security program? - Answer️️ -The purpose of the infosec prg is to execute the strategy and achieve the org objectives for acceptable levels of risk and business disruption. 3.0 INTRODUCTION What is the road map based on? What is done to create it (high level)? - Answ...

CGFM TEST 3 QUESTIONS & ANSWERS 2023/2024 Three Broad Government Spending Purposes - ANSWER-1) Current Operations 2) Capital Outlays 3) Debt Service Present Value Analysis - Three Components - ANSWER-Determines what $$ Rec'd in Future is Worth Today 1) inflation component - year over year loss in value 2) enterprise component - inherent risk 3) unique component - Budget Accounting and Procedures Act of 1950 - ANSWER-Requires the head of each federal agency to establish and mai...

CRISC Scope - ️️Focuses on risk assessment, treatment, and monitoring. These are methods, processes and protocols used and governed withing a larger enterprise risk mgmt. framework. What does CRISC not address? - ️️CRISC does not address what's detailed in ISO31000 on how to create a risk mgmt program. Does not focus on mandate/commitment aspect of managing risk (leadership area) Does not focus on continual improvement of framework What does CRISC focus on? - ️️Focuses on i...