Important GAQM ISO-31000-CLA Exam Questions

Answer: C

Explanation:

According to ISO31000 (2018), clause 4., one of the principles of effective risk management is ''taking human and cultural factors into account''. This means that risk management should consider how people's behaviors, perceptions, values and attitudes influence or are influenced by risk .

Answer: A, B

Explanation:

Integrated and customized are two of the nine risk management principles in ISO 31000:20181. Integrated means that risk management is an integral part of all organizational activities. Customized means that risk management is aligned with the organization's external and internal context and risk profile.

Answer: C

Explanation:

According to ISO31000 (2018), clause 1., it is ''not intended for certification purposes''.It provides guidance on how organizations can manage their risks effectively using a systematic approach based on principles, framework and process3.

Answer: A

Explanation:

According to1, page 11, core processes are ''the activities that an organization performs in order to deliver its products or services''. They are essential for achieving the organization's objectives and creating value for its stakeholders. Therefore, core processes should be considered when linking risk to an organization.

Answer: A

Explanation:

The day-to-day responsibility of a Chief Risk Officer within a large organisation is to ensure that all key risks are adequately managed and reported4. This involves overseeing the implementation of risk management policies, processes and systems across the organisation.