Which of the Following Best Describes Residual Risk

By Ra_Sarahi245 23 Apr, 2022 Post a Comment

Management should treat risks until the residual risk equals the inherent risk. Which of the following is the highest risk.

Quiz Worksheet Residual Risk Inherent Risk Study Com

Ad di hp 19.

. All of the following are key sources of Army transportation hazards EXCEPT. Threats vulnerability asset value controls gap residual risk D. Risk Management is the process of identifying analyzing and responding to risk factors throughout the life of a project in the best interest of its objectives What Types of Risks Are There.

Which of the following best describes why companies should establish a written code of ethic. After a system risk assessment was performed it was found that the cost to mitigate the risk was higher than the expected loss if the risk was actualized. Internal audit functions assessment of control deficiencies.

Which of the following statements best describes the principle of ALARP. Which of the following can Soldiers use to determine residual risk for a planned privately owned vehicle trip. What best describes residual risk.

Treat them you wont completely eliminate all the risks because it is simply not possible therefore some risks will remain at a certain level and this is what residual risks are. The level of risk after security measures are applied D. The impact of risk if a threat is realized.

In other words it is the degree of exposure to a potential hazard even after that hazard has been identified and. Residual risk is the level of risk after security measures have been applied. Which of the following definitions best describes enterprise risk management.

An accidental fire caused 15 million in damage to a hangar. The likelihood of occurrence of a threat B. Organizations identification and analysis of the risks that threaten the.

The impact of risk if a threat is realized Answer. Travel Risk Planning System. Risk treatment is an iterative process.

SLE frequency ALE which is equal to residual risk C. Hazard risk and operational costs. When you are assessing cybersecurity risks which activity comes first in the process.

Mitigate the risk c. The level of risk before security measures are applied C. Management should treat risks at least annually.

The risk assessment component of internal control involves the. Low impact with very high likelihood 10. Accept the risk b.

The level of risk before security measures are applied C. Enterprise risk management is narrower than internal control and focuses on risk mitigation strategies across the enterprise. Which of the following should George use to calculate the companys residual risk.

Reject the risk d. Residual risk is the risk after treatment. Independent outside auditors assessment of residual risk.

Aside from the primary risk inherent in any project activities may also involve secondary and residual risks. Management should act to lower risk until the costs of further treatment. After treatment the inherent risk results in the residual risk which needs to be treated after another round of risk assessment if it is not acceptable.

No one was injured. Moderate impact with high likelihood c. Risk that cannot be mitigated Risks that if properly managed will make the organization successful in the achievement of its objectives or if not well managed it the organization will not achieve its objectives A component of overall audit risk None of the above describes residual risk QUESTION 8.

Operational administrative and risk control costs b. In this instance which of the following is the BEST course of action. Total risk asset value countermeasures residual risk.

The level of risk after security measures are applied D. Residual risk is defined as the threat that remains after every effort has been made to identify and eliminate risks in a given situation. The Sarbanes Oxley act of 2002 significantly impacted the independent CPA audit.

Threats vulnerability asset value residual risk B. Enterprise risk management is narrower than internal control and focuses on managing the risk of loss resulting from external events. The level of risk before security measures are applied is the inherent risk.

The following are a few examples of residual risks. Run a new risk assessment. Very high impact with moderate likelihood b.

After you identify the risks and mitigate the risks you find unacceptable ie. Management should act to reduce risks to the lowest possible. What accident class is this.

Measure residual risk b. Risk management reviews the cost of risk associated with protecting cash flows assets and personnel. Moderate impact with very high likelihood d.

The point is the organization needs to know exactly whether the. Risk management involves treating risks meaning that a choice is made to avoid reduce transfer or accept each individual risk. Which one of the following statements best describes the key components of an organizations cost of risk.

It is difficult to completely eliminate risk and normally there is a residual risk that remains after each risk has been managed. Which of the following best describes residual risk. Residual risk is the risk remaining after risk treatment.

It is considered a form of internal control The competition probably has one To comply with the securities and exchange commission To follow the DATA act.

Residual Risk Examples How To Calculate Residul Risk