Purpose of erm - Study guides, Class notes & Summaries

BOD committees required for companies listed on NYSE - (Think NCA - nominating, compensation, audit) 1. Nominating/corp gov committee. 2. Compensation committee 3. Audit Committee T/F: NASDAQ companies require the same corporate governance rules as NYSE - False. They require audit committee and compensation committee but not nominating/corp gov committee T/F: the G20/OECD principles are binding for all international companies adapting the principles - False. Nonbinding since many compani...

AUDIT Practice Exam 77 Questions with Verified Answers The scope of internal auditing work encompasses a systematic, disciplined approach to evaluating and improving the adequacy and effectiveness of all the following processes except A. Governance. B. Financial statements. C. Control. D. Risk management - CORRECT ANSWER Financial Statements According to the Standards, an internal auditor's role with respect to operating objectives and goals includes: A. Approving the operating objec...

RSk2601 Study bank questions and answers 100% correct

ARM 54 Practice Exam With Complete Solutions 2024 Risks from accidental loss, including the possibility of loss or no loss defines - Answer ️️ - Hazard risk The traditional definition of risk management reflects the traditional concept of risk as - Answer ️️ -Negative Which one of the following statements is true regarding the evolution of risk and risk management? - Answer ️️ -The definition of risk has evolved to include positive as well as negative attributes The Dodd-Fran...

CISA Exam 14, 13 mc, 10 mc 55 Questions with Verified Answers (CISA exam, adapted) Authentication is the process by which the: system verifies that the user is entitled to enter the transaction requested. user identifies him- or herself to the system. system verifies the identity of the user. user indicates to the system that the transaction was processed correctly. - CORRECT ANSWER system verifies the identity of the user. (CMA exam, adapted) Data processing activities may be classi...

CRISC QUESTIONS AND ANSWERS | LATEST VERSION | 2024/2025 | 100% PASS 1. **An enterprise has recently developed a groundbreaking technology that could give it a competitive advantage. What is the PRIMARY concern in safeguarding this information within the enterprise?** - A. Data classification policy - B. Acceptable use policy - C. Encryption standards - D. Access control policy A. The data classification policy delineates data into categories, specifies protective measures for each...

ARM 54 Practice Exam With Complete Solutions 2023 Risks from accidental loss, including the possibility of loss or no loss defines Hazard risk The traditional definition of risk management reflects the traditional concept of risk as Negative Which one of the following statements is true regarding the evolution of risk and risk management? The definition of risk has evolved to include positive as well as negative attributes The Dodd-Frank Act, Solvency II, and Basel III all have the purp...

Strategy --> Strategic Planning --> Strategic Plan - Answer What is the flow of a strategic business plan? Strategy - Answer This is the rough idea. A thoughtful, deliberate plan of action. Answers the question "How" Strategic Planning - Answer Process to determine what the plan will be. Runs ERM and SWOT analysis Strategic Plan - Answer The Formal details. The formulated roadmap that describes how the company executes its chosen strategy. 1. Strategy Formulation 2. Strategy...

TEST BANK Enterprise Risk Management S - The Marketplace to Buy and Sell your Study Material 1 RSK2601 TEST BANK Question 1 Which one of the following is a benefit of effective risk and opportunity management? 1) Improved profit certainty 2) Increased shareholder value 3) Increased stakeholder confidence Correct option 3 4) Lower economic returns Explanation Improved cost certainty, sustainable shareholder value, increased stakeholder confidence and higher economic returns are all benefits of ef...

Assessment Mutual Insurer - Has the right to assess policyowners an additional amount if the insurer's financial operations are unfavorable Retention - Firms retain part or all of the losses that can result from a given loss; Ex: Expense, set aside liquid, credit line Risk - Uncertainty about chance, timing, or amount of loss Chance of Loss - Probability that an event will occur Objective Risk - The relative variation of actual loss from expected loss; (ActualExpected)/Expected; higher va...