1.5 Fast Home Deliveries Company has done an intensive exercise to identify and evaluate the risks in the company. They have appointed a risk management team to monitor the effectiveness of the risk management process. Which ONE of the following combinations of methods is available to the risk management team to monitor the effectiveness of the risk management process? a) Scenario management, loss management, key risk indicators, risk and control selfassessments completed by management b) Risk assessment, risk responses, results of audit reviews c) Risk reporting, residual risk assessment, documentation of risk d) Risk description, inherent risk rating, risk categorisation 1.6 Entrepreneurial Projects Company has a low-risk appetite. Management is in the process of formulating risk responses to their inherent risk ratings. Which combination of the risk responses below can be linked to financial, credit risk? 1) Board approved credit limits, screening of debtors, debt collection procedures, and lending procedures 2) Uninterruptable power supply, system testing 3) Member surveys, increased marketing 4) Human resource development and training plans 5) Underwriting of loans, semi-annual loan reviews a) Statements (2) and (5) b) Statements (1) and (4) c) Statements (2) and (3) d) Statements (1) and (5) 1.7 The Compact Storage Company is compiling a risk register. Which combination of data should NOT BE included in their risk register? a) Description and date when risk was identified b) Risk factors, internal and external perspectives c) Root cause analysis and risk responses as well as the target/implementation date d) Inherent- and residual risk rating, interdependencies with other risks (2) Which of the following are elements of a strategy? (1) The formulation of a strategy should display a broad conceptual knowledge of the operating environment of the organisation and involves both conceptual and analytical thought processes. (2) The strategies are based on the organisation's core values. (3) The choice of activities should provide a competitive advantage by being focussed on the key strengths of the organisation. (4) The activities that are chosen should fit one another to lead to success. (5) It necessitates that a decision also must be made about which activities not to choose. Trade-offs are made when choosing specific actions as opposed to other actions. Indicate which of the above statements are elements of a strategy: a) Statements (1), (2), (4) and (5) b) Statements (1), (2) and (3) c) Statements (1), (2), (3) and (4) d) Statements (1), (2), (3), (4) and (5) 1.5 Fast Home Deliveries Company has done an intensive exercise to identify and evaluate the risks in the company. They have appointed a risk management team to monitor the effectiveness of the risk management process. Which ONE of the following combinations of methods is available to the risk management team to monitor the effectiveness of the risk management process? a) Scenario management, loss management, key risk indicators, risk and control selfassessments completed by management b) Risk assessment, risk responses, results of audit reviews c) Risk reporting, residual risk assessment, documentation of risk d) Risk description, inherent risk rating, risk categorisation 1.6 Entrepreneurial Projects Company has a low-risk appetite. Management is in the process of formulating risk responses to their inherent risk ratings. Which combination of the risk responses below can be linked to financial, credit risk? 1) Board approved credit limits, screening of debtors, debt collection procedures, and lending procedures 2) Uninterruptable power supply, system testing 3) Member surveys, increased marketing 4) Human resource development and training plans 5) Underwriting of loans, semi-annual loan reviews a) Statements (2) and (5) b) Statements (1) and (4) c) Statements (2) and (3) d) Statements (1) and (5) 1.7 The Compact Storage Company is compiling a risk register. Which combination of data should NOT BE included in their risk register? a) Description and date when risk was identified b) Risk factors, internal and external perspectives c) Root cause analysis and risk responses as well as the target/implementation date d) Inherent- and residual risk rating, interdependencies with other risks (2) Which of the following are elements of a strategy? (1) The formulation of a strategy should display a broad conceptual knowledge of the operating environment of the organisation and involves both conceptual and analytical thought processes. (2) The strategies are based on the organisation's core values. (3) The choice of activities should provide a competitive advantage by being focussed on the key strengths of the organisation. (4) The activities that are chosen should fit one another to lead to success. (5) It necessitates that a decision also must be made about which activities not to choose. Trade-offs are made when choosing specific actions as opposed to other actions. Indicate which of the above statements are elements of a strategy: a) Statements (1), (2), (4) and (5) b) Statements (1), (2) and (3) c) Statements (1), (2), (3) and (4) d) Statements (1), (2), (3), (4) and