Education
- Overview
- 01 Introduction to ERM
- 02 External risk frameworks
- 03 The ERM process
- 04 Risk classification
- 05 Risk measurement
- 06 Introduction to risk modelling
- 07 Quantitative analysis of financial data
- 08 Further risk modelling
- 09 Analysis of different types of risk
- 10 Risk optimisation and responses to risk
- 11 Risk Mitigation
- 12 Capital Management
Introduction to ERM
These questions cover the basic principles of ERM, key concepts and the framework for risk management within a company.
Please login to start the quiz
Quiz-summary
0 of 5 questions completed
Questions:
- 1
- 2
- 3
- 4
- 5
Information
This is the quiz description.
Please enter your name and email to start.
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
Results
0 of 5 questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 points, (0)
Categories
- Not categorized 0%
- 1
- 2
- 3
- 4
- 5
- Answered
- Review
-
Question 1 of 5
1. Question
Which one of the following is defined as the maximum loss that could be suffered?
Correct
Exposure is the maximum loss that could be suffered; downside risk refers to an assessment of risk that looks only at adverse events, whilst severity looks at how bad an adverse event would be.
Incorrect
Wrong answer
-
Question 2 of 5
2. Question
Which one of the following statements about ERM frameworks is incorrect?
Correct
Both quantifiable and unquantifiable risks should be allowed for in an ERM framework.
Incorrect
Wrong answer
-
Question 3 of 5
3. Question
Which of these is (or are) a possible definition of risk?
Correct
Risk can be quantifiable or unquantifiable, but there is always an element of uncertainty.
Incorrect
Wrong answer
-
Question 4 of 5
4. Question
Which of these is (or are) a reason for using a consistent risk taxonomy?
Correct
It is important that if abbreviations are used, they are employed in such a way that external parties can still understand risk definitions. This makes external verification of ERM frameworks easier.
Incorrect
Wrong answer
-
Question 5 of 5
5. Question
Rearrange these elements of an ERM framework into the correct order:
-
Assess the context
-
Identifty the risks
-
Assess the risks
-
Decide on the extent to which risks should be managed
-
Take appropriate action
-
Review and report
Correct
Correct!
Incorrect
Wrong answer
-