where a specific reference is made to the information in another question. Each question has only one correct answer, and the marks per question (5.1-5.7) are indicated in brackets aftereach question). Please answer the seven questions by listing the question number below one another, from 5.1 . 51.7, withyour corresponding answer next to it for example: 1.1 (a) 1.2(b) The questions are as follows: 1.1 A reputable food manufacturer produces a popular snack that is sold across the world. It carries awarning label on the package stating that the snack contains nuts which can cause an allergic reaction in some cases. This is to make anyone who is considering eating this snack aware of theingredients in case they have an allergy to nuts, and the possible side effects they may suffer should they be allergic to nuts. What kind of risk management strategy is the manufacturer of thissnack using? Select ONE of the following options: a) Transfer b) Avoid c) Reduce d) Accept (2) 1.2 Which ONE of the following issues, related to risk manapement, will the coso enterprise riskmanagement framework NOT help to address? 1.2.1 Allocation of resources to suitable projects 1.2.2 Management of the risk associated with stakeholder conflicts. 1.2.3 Embedding risk management in the culture of the organisation 1.2.4 Helping an organisation decide whether to teduce, eliminate or transfer a particular risk. (2) 1.3 Indicate to which combination of the below groups, the management of an organisation is required to report its risk to. (1) Shareholders (2) Lenders (3) Customers (4) Suppliers (5) Government (6) Emplovees a) Groups (1) and (2) b) Groups (1), (2) and (3) c) Groups (2), (3), (4) and (5) d) Groups (1), (2), (4), (5) and (6) [2] 1.4 When assessing risk, an analysis is done regarding two dimensions namely: ranking of the impactand of a risk occurring. Choose a word from the options below to fill in the missingword to complete the statement. 1.4.1 Result 1.4.2 Likelihood 1.4 .3 Cost 1.4 .4 Opportunity 1.5 Which ONE of the following statements regarding risk is true? 1.5.1 Risk only relates to new issues. 1.5.2 Risk is only concerned about things going wrong. 1.5.3 Risk can recognise positive events, including opportunities. 1.5.4 Large enterprises are the only ones that need to manage risks 1.6 With regards to the core values of an organisation, which ONE of the following statements is TRUE? 1.6.1.1 It describes the purpose of the organisation and it broadly states the reason why the organisation exists. 1.6.1.2 It describes the principles that guide an organisation by describing how every employee should behave. 1.6.1.3 It describes where the organisation wants to go in future. 1.6.1.4 It describes the measures of progress and targets to be achieved by the organisation in a specific time frame. (2) 1.7 Which of the following statements describe corporate culture in the internal environment of an organisation? (1) It entails the employee's values, symbols, and shared beliefs. (2) It presents a language for interpreting issues and events. (3) It is the "glue" that holds everyone together. (4) It is the workforce of an organisation. (5) It entails the management of certain events such as workplace conflict. 1.7.1 Statements (1), (2) and (3) 1.7.2 Statements (1), (2) and (4)
