Question One
What is the ISO31000 definition of risk and what is the utility of this definition? (5 MARKS)
Question Two
In what way is pure risk different from a threat?
(5 MARKS)
Question Three
What is the difference between due diligence and risk management? Illustrate your answer with examples? (10 MARKS)
Question Four
How would you use control tools to impact on the likelihood and consequences of a risk event? (10 MARKS)
Question Five
Discuss the following statement:
“Methodology is the core behind modern risk management.”
(10 MARKS)
Question Six
In what way does culture impact on an organisations ability to pro-actively engage and manage its risk environment?
(10 MARKS)
Question Seven
Explain the concept of ‘strategic risk’ and the role that stakeholders have in identifying such risk? (10 MARKS)
Question Eight
Describe how governance and compliance are linked to an organisations risk management model and describe the role of internal control in this activity?
(15 MARKS)
Question Nine
Outline the model of risk management illustrated within the Australian Standard. Provide as complete as possible description of each stage, not forgetting the connective linkages, and provide a line model of the process?
(15 MARKS)
Question Ten
Describe the process referred to as business continuity planning and outline the function it serves?
(10 MARKS)
END OF EXAM
