Operational Risk Management Test: Quiz!
(126).jpg "Operational Risk Management Test: Quiz!")
- 1.Hazard is defined as:
- A.
A condition with the potential to cause personal injury or death, property damage,or mission degradation
- B.
A condition with the potential to cause personal financial loss or property damage or mission degradation
- C.
A condition with the potential to cause personal injury or death or mission completion
- D.
A condition with the potential to cause property damage or mission degradation, or a revenue tax increase
- 2.An expression of possible loss in terms of severity and probability is a definition of:
- A.
Hazard
- B.
Probability
- C.
Severity
- D.
Risk
- 3.Definition of Risk is:
- A.
The likelihood that a hazard will result in a mishap or loss
- B.
The likelihood that a hazard will result in a disaster
- C.
The likelihood that a hazard will result in a favorable outcome
- D.
The likelihood that a hazard will result in a change in command
- 4.The process of detecting hazards and assessing the associated risk is called:
- A.
The right process
- B.
Risk assessment
- C.
Risk Management Process
- D.
None of the above
- 5.The process of dealing with the risk associated with military operations, which include risk assessment, risk decision making, and implementation of effective risk controls is:
- A.
Operational Rated Management
- B.
Organized Risk Assessment
- C.
Operational Risk Management
- D.
Organized Risk Management
- 6.Operational Risk Management Process includes the I.D of hazards, Assessing the hazards, Making risk decisions, Implement controls, and
- A.
Take action
- B.
Re-assessing the process
- C.
Supervise
- D.
Both A & B
- 7.Operational Risk Management:
- A.
Is a decision making tool
- B.
Increases ability to make informed decisions
- C.
Reduces risks to acceptable levels
- D.
All of the above
- 8.Causes of risk include all the following except:
- A.
New Technology
- B.
Change "The Mother of all Risk"
- C.
Environmental influences
- D.
Chemical breakdown
- 9.The four ORM Principals are - 1. Accept risk when the benefits outweigh the cost 2. Accept no unnecessary risk 3. Anticipate and manage risk by planning and
- A.
Make risk decisions at the right level
- B.
Make risk decisions right away
- C.
Make no decsions until after talking it over
- D.
All of the above
- 10.ORM Levels of application include:
- A.
Time crtical - On the run consideration of 5 steps
- B.
Deliberate - Application of the complete 5 step process
- C.
In-Depth - Complete 5-Step Process with detailed analysis
- D.
All of the above
Questions: 10 | Attempts: 21471 | Last updated: Oct 26, 2021
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