GAQM New 2023 ISO-31000-CLA Test Tutorial (Updated 102 Questions) [Q49-Q70]

ISO-31000-CLA GAQM

admin • April 15, 2023

GAQM New 2023 ISO-31000-CLA Test Tutorial (Updated 102 Questions) [Q49-Q70]

4.4/5 - (7 votes)

GAQM New 2023 ISO-31000-CLA Test Tutorial (Updated 102 Questions)

ISO-31000-CLA Exam Questions Dumps, Selling GAQM Products

NO.49 Which management can be used in varied and complex settings?

Crisis

Quality

Safety

Risk

Explanation
Risk management can be used in varied and complex settings . Risk management can help organizations deal with uncertainty and complexity in any type of activity, industry, or sector.

NO.50 Which step is the risk process steps to manage, control, or remediate risk?

Risk avoidance

Risk identification

Risk evaluation

Risk treatment

Explanation
Risk treatment is the risk process step to manage, control, or remediate risk1. Risk treatment involves selecting and implementing options to modify or control risks.

NO.51 Enhanced risk management emphasizes the continual improvement of risk management capabilities.

True

False

Explanation
Enhanced risk management emphasizes the continual improvement of risk management capabilities1. This means that risk management is regularly reviewed and updated to ensure its relevance, adequacy, and effectiveness.

NO.52 Which activity does the risk management professional perform immediately after obtaining internal and external information about the organization?

Analyze the information.

Organize the information

Prioritize the information

Report the information.

Explanation
According to page 9-10 of source 2, risk management professionals organize internal and external information about the organization into categories such as stakeholders, strategic objectives, policies and procedures, risk appetite and tolerance, and risk culture. This categorization process facilitates the analysis and reporting of the risk information at a later stage, making it easier to understand and use.

NO.53 Which of the following statement about operations risk management is incorrect?

Transparent and inclusive

Dynamic, iterative and responsive to change

Disregarding human factors

Capable of continual improvement and enhancement

Explanation
According to ISO31000 (2018), clause 4., one of the principles of effective risk management is “taking human and cultural factors into account”. This means that risk management should consider how people’s behaviors, perceptions, values and attitudes influence or are influenced by risk .

NO.54 Which of the following is a process with inputs, activities, and outcomes?

Supply chain management

Financial management

Risk management

Quality management

Explanation
Risk management is a process with inputs, activities, and outcomes1. The inputs are the organization’s context and risk criteria. The activities are risk identification, analysis, evaluation, and treatment. The outcomes are improved decision making, performance, and resilience.

NO.55 Which of the following ensures that uncertainty is managed so the organization can meet its objectives?

Extended risk management

Enhanced risk management

Evasive risk management

Avoidance risk management

Explanation
Enhanced risk management ensures that uncertainty is managed so the organization can meet its objectives4.
Enhanced risk management involves applying a systematic and logical process to identify, analyze, evaluate, treat, monitor, review, and communicate risks.

NO.56 Where does an internal auditor typically spend most of his time auditing today?

People

Process

Technology

Infrastructure

Explanation
According to , page 9, one of the current trends in auditing, risk management and compliance is “shifting from auditing people to auditing processes”. This means that internal auditors focus more on how well an organization’s processes are designed and implemented to achieve its objectives and manage its risks.

NO.57 Which of the following are ISO 31000:2009 Enhanced Risk Management attributes? (Choose two)

Full accountability for risk controls and treatment

Solution offering

Decision making involves risk

Crisis management and process attributes

Explanation
Full accountability for risk controls and treatment and decision making involves risk are two of the enhanced risk management attributes according to ISO 31000:20091. These attributes indicate that risk management is integrated into governance and decision-making processes.

NO.58 Transparency and inclusiveness are key ISO 31000:2018 attributes.

True

False

Explanation
Transparency and inclusiveness are key ISO 31000:2018 attributes. Transparency means that risk management activities are visible, understandable, and verifiable by relevant stakeholders. Inclusiveness means that appropriate stakeholders are involved in risk management decisions and actions.

NO.59 The Chief Risk Officer chairs the ERM/RM steering committee.

True

False

Explanation
The Chief Risk Officer chairs the ERM/RM steering committee. The ERM/RM steering committee oversees the organization’s risk management activities and provides guidance and support to senior management.

NO.60 An international bank has identified the risks associated with economic changes in the countries in which it operates. Which of the following correctly describes these risks?

Internal – Infrastructure.

External – Reputational.

External – Marketplace.

Explanation
According to 1, page 15-16, external risks are “those arising from events outside the organization” and marketplace risks are “those arising from changes in market conditions such as customer demand, competition, regulation”. Economic changes in different countries can affect the market conditions for an international bank’s operations.

NO.61 Which type of risk presents only the chance of loss or no loss?

Hazard risk

Operational risk

Financial risk

Strategic risk

Explanation
According to , page 8, hazard risk is “the traditional pure risk that only has a downside”. It is usually associated with natural disasters, accidents, lawsuits or other events that cause harm or damage.

NO.62 Inclusiveness is another critical attribute of good risk management.

True

False

Explanation
Inclusiveness is another critical attribute of good risk management. Inclusiveness helps to ensure that different perspectives, knowledge, and values are considered in risk management.

NO.63 Which of the following consists of risk management principles, framework, and process that have been adopted as a national risk management standard by more than 60 countries?

ISO 9001:2015

ISO 27001:2013

ISO 31000:2018

ISO 14001:2018

Explanation
ISO 31000:2018 consists of risk management principles, framework, and process that have been adopted as a national risk management standard by more than 60 countries . It provides guidelines on managing any type of risk faced by organizations.

NO.64 Which of the following are two ISO 31000:2018 risk management principles? (Choose two)

Integrated

Customized

Functional

Statistical

Design

Strategy

Explanation
Integrated and customized are two of the nine risk management principles in ISO 31000:20181. Integrated means that risk management is an integral part of all organizational activities. Customized means that risk management is aligned with the organization’s external and internal context and risk profile.

NO.65 A program officer and a security manager are planning a focus group discussion with community members on potential risks related to projects on female empowerment in local secondary schools. What is the best approach for them to take to define the context?

Discuss the role of girls and how they are viewed by community members.

Define gender equality in the school environment.

Review the roles of the humanitarian principles in relation to education.

Identify any increase of risk with the introduction of a female empowerment project.

Explanation
According to , page 9, defining the context involves “understanding what influences people’s perception and tolerance of risks”. Discussing how girls are viewed by community members can help identify potential sources of resistance, conflict or violence that may affect the project’s objectives and outcomes.

NO.66 Uncertainties may involve: (Choose two)

The process used to conduct the risk analysis

The processed to know upcoming security issues

Differing abilities among risk analysts

Appointing security analyst

Explanation
Uncertainties may involve the process used to conduct the risk analysis and differing abilities among risk analysts. These are examples of factors that can affect the quality and reliability of risk assessment1.

NO.67 Which management ensures that value is created by identifying opportunities for investment, mergers, or acquisition.

Risk

Quality

Crisis

Safety

Explanation
Risk management ensures that value is created by identifying opportunities for investment, mergers, or acquisition. Risk management helps to assess the potential benefits, costs, and risks of different options and make informed decisions.

NO.68 A broker is undertaking a business interruption review on behalf of a client. This would most commonly include an evaluation of the

effectiveness of a business continuity plan.

effectiveness of risk reserving.

level of risk tolerance.

level of self insurance.

Explanation
A business interruption review is an evaluation of the effectiveness of a business continuity plan, which is a set of procedures and resources to ensure that an organisation can continue its critical functions in the event of a disruption12.

NO.69 What is typically the day-to-day responsibility of a Chief Risk Officer within a large organisation?

Ensuring that all key risks are adequately managed and reported.

Preparing and maintaining individual insurance arrangements

Producing policies on compliance matters

Providing assurance that individual risk management processes are effective.

Explanation
The day-to-day responsibility of a Chief Risk Officer within a large organisation is to ensure that all key risks are adequately managed and reported4. This involves overseeing the implementation of risk management policies, processes and systems across the organisation.

NO.70 When an operational area develops a treatment for a critical risk, the risk management professional MUST

add the risk to the risk map.

communicate the treatment plan directly with internal audit.

evaluate the dollar savings associated with the treatment.

evaluate the impact upon other areas.

Explanation
When an operational area develops a treatment for a critical risk, the risk management professional must evaluate the impact upon other areas3. This helps to ensure that the treatment does not create new risks or adversely affect other objectives.

Loading …

ISO-31000-CLA Cert Guide PDF 100% Cover Real Exam Questions: https://www.2pass4sure.com/GAQM-ISO/ISO-31000-CLA-actual-exam-braindumps.html

C-THR81-2211 Dumps Special Discount for limited time Try FOR FREE [Q12-Q34]

Current PSM-I Exam Dumps [2023] Complete Scrum Exam Smoothly [Q92-Q106]

ISO-31000-CLA Practice Tests

Easily To Pass New ISO-31000-CLA Verified & Correct Answers [Feb 25, 2024 [Q26-Q42]
GAQM New 2023 ISO-31000-CLA Test Tutorial (Updated 102 Questions) [Q49-Q70]

Related Certifications

ISO-ISMS-LA
CFA-001
CBCP-002
ISO-31000-CLA
CSM-001

GAQM New 2023 ISO-31000-CLA Test Tutorial (Updated 102 Questions) [Q49-Q70]

Leave a Reply Cancel reply