QUESTION 1 [25] 1.1 Draw on examples from the corporate sector and explain the concepts of: -

1.1.1 risk probability, (5)

1.1.2 risk impact, and (5)

1.1.3 risk exposure. (5)

1.2 Broadly explain the benefits of relying on the performing of a business impact analysis and measuring financial impact as best practices in risk analysis. (10)