Arm 401 - Segment A |97 Questions| With Correct Answers.

Optimum Risk {Ans: The level of risk that is within an organization's risk appetite}The interactions between risk factors have a significant impact on the risk management decision making {Ans: risk managers use statistical and mathematical measurements such a variance, covariance, and correlation}What are a good case study for operational risks due to their risks related to their: compliance issues, legal issues, credit policies, customer service procedures, software tools, and many other facets of their operations {Ans: Banks}IoT Devices {Ans: - telematics in automobiles - sensors in buildings - drones - smartphones and tablets - health trackers - robots - high-definition cameras with sensors}SWOT Analysis {Ans: strengths, weaknesses, opportunities, threats a team approach that is useful in analyzing a new project or product. ideally results in "go" or "no go". a goal is necessary for it to avoid it becoming too general or failing to provide actionable information}Risk Threshold Example {Ans: id a commercial business chooses a $10,000 deductible on its property insurance policy, it is willing to self-insure up to $10,000 worth of property damage risk but will transfer any risk over $10,000 to its insurer. The risk threshold is $10,000}