Which type of risk presents only the chance of loss or no loss?
Answer(s): A
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.
Organizational information systems, information flows, and formal and informal decision-making processes are all a part of establishing which type of context in regard to the organization?
Answer(s): D
According to ISO31000 (2018), clause 5., establishing the context involves defining "the external and internal parameters to be taken into account when managing risk". The internal context includes "information systems, information flows and decision-making processes" among other factors.
Due to the nature of crises, the management of a Crisis Management Team (CMT) usually requires which type of decision making structure?
According to , page 17, a crisis management team (CMT) is "a group of senior managers who have been delegated authority by an organization's executive leadership team to make decisions during a crisis". A centralized decision making structure allows for faster and more coordinated responses in an emergency situation.
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?
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.
How many types of potential risk strategies exist?
Answer(s): C
According to 1, there are four types of potential risk strategies for threats: avoid (eliminate or change), transfer (share or outsource), mitigate (reduce or control), accept (retain or monitor). There are also four types of potential risk strategies for opportunities: exploit (ensure or enhance), share (allocate or collaborate), enhance (increase or maximize), accept (acknowledge or watch).
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