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is associated with those activities that relate to the ongoing business activities necessary to produce and sell the organisation's products and services. Select one: C) a. Financial risk 93 b. Operational risk L) c. Strategic risk L) d. Hazard risk Clear my choice Risk management is primarily concerned with Select one: C) a. regulatory impact of the risks (3 b. financial impact of the risks L) c. impact of risk behaviour on financial managers ('\\ . risk awareness of individuals and organisations Which of the following is NOT included in operational risk? Select one: C) a. Changes in demand ('\\ \\_2 53' Key staff I 0 Health and safety issues L) d. Image problems Which of the following is NOT a hazard risk? Select one: O a. System failure O b. Natural disaster O c. Stress claims O d. Environmental According to the text, which type of risk is the most common threat to an organisation? Select one: O a. Financial risk O b. Operational risk O c. Strategic risk O d. Hazard risk In the context of wider business risk management, risk managers should also take account of Select one: O a. ethical considerations O b. social responsibilities O c. non-financial risks O d. all of the aboveWhich of the following statements is NOT TRUE on the role of risk management to achieve an organisation's objectives? Select one: C) a. Loss prevention measures can help to control the variability of costs, contributing to the survival of the organisation in the long term. (3 b. It is an accepted principle oforganisational and economic theory that the objectives of owners and risk managers may be similar. (3 c. By safeguarding assets, and preventing injury or loss of lifer they also contribute to social responsibility. C d. Measures designed to reduce the cost of risk will, in particular. contribute to objectives such as profit maximisation or cost minimisation. Which of the following is NOT a duty of the risk manager? Select one: C) a. To hedge currency risk C) b. To identify major risks (3 c. To review risk management contracts and documents (3 d. To construct a diversified portfolio to meet corporate objectives Because risk management and insurance of risks are essentially a means of financing riskr emphasis is on the financial consequences. Therefore it makes sense that the largest single category report is directed to a within the organisation. Select one: C) a. finance director r'\\ .2 P" managing director r'\\ l\\./ :1 com pa ny secretary I} d. insurance broker Which of the following is the most important task for an organisation if it is to practise risk management properly? Select one: C a. Risk management system C3 in. Risk management statement C3 c. Risk management philosophy r L '1 J d. Risk management handbook