The ERM Process
These questions cover stakeholders, risk appetite and the risk management process
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Question 1 of 5
Match the following terms to their definitions
- A complete description of the risk exposures of an organisation, including risks that might emerge in the future and that will affect the current business of the organisation
- The targets and limits across the organisation as a whole, plus the breakdown of these high level statements into more detailed risk tolerances
- A detailed set of statements, many being quantitative or statistical in nature, which may apply to specific categories of risk and/or units of business
- A group of guidelines that set limits on acceptable actions that might be taken
- The volume of risk that an organisation can take as measured by some consistent measure, such as economic capital
Question 2 of 5
Which one of the following bank stakeholders has the last call on the bank’s returns?Correct
All creditors must be paid before shareholders can receive profitsIncorrect
Question 3 of 5
Which of the following can a bank account holder be regarded as?Correct
Question 4 of 5
Which one of the following could a pension scheme’s sponsoring employer be regarded as?Correct
Because the sponsoring employer must make up any deficit, its position is analogous to that of a company shareholderIncorrect
Question 5 of 5
Which of the following could be regarded as the type or types of relationships that governmnets have with banks and insurance companiesCorrect
The principal relationship exists because of the collection of taxes, and the controlling relationship arises through regulationIncorrect