Question 1

What is the objective of risk assessment?

Accepted Answer

To evaluate the risks identified during Step 1 (Risk Identification)in order to determine how serious each risk is to the organization.

Question 2

Which of the following is a type of product loss?

Accepted Answer

A)  Pilferage 
B)  Damage 
C)  Climate control failure 
D)  Labor disruption 
A)  Pilferage 
B)  Damage 
C)  Climate control failure 
D)  Labor disruption A

Question 3

Describe the four step risk management process.

Accepted Answer

Step 1- Identification: involves identification of the potential threats and disruptions to which the organization is susceptible.
Step 2- Risk assessment: focuses on evaluation and prioritization of the risks.The more vulnerable the organization's transportation process is to a potential risk,the more attention it should receive.
Step 3- Risk Management: requires the organization to develop proactive risk management and mitigation strategies.Structural and procedural changes may be required to execute the strategy.
Step 4- Risk review and monitoring: promotes continuity,vigilance,and process improvement.Ongoing testing of strategies and evaluation of their success,as well as scanning for new risks are needed to achieve maximum protection.Each step is described in detail below.

Question 4

A deliberate product contamination risk is called?

Accepted Answer

A)  Tampering 
B)  Climate control failure 
C)  Exposure to contaminants 
D)  Hedging 
A)  Tampering 
B)  Climate control failure 
C)  Exposure to contaminants 
D)  Hedging

Question 5

Define disruption and risk in general terms and in terms of transportation

Accepted Answer

Disruption - an event that results in a

Question 6

As of 2007 how many companies were members of C-TPAT?

Accepted Answer

A)  Less than 2000 
B)  3,011 
C)  More than 10,000 
D)  Almost 7,000 
A)  Less than 2000 
B)  3,011 
C)  More than 10,000 
D)  Almost 7,000

Question 7

What is the simplest way to eliminate risk?

Accepted Answer

A)  Risk reduction 
B)  Risk mitigation 
C)  Risk avoidance 
D)  Risk identification 
A)  Risk reduction 
B)  Risk mitigation 
C)  Risk avoidance 
D)  Risk identification

Question 8

Not putting all your "eggs in one basket" is what type of strategy?

Accepted Answer

A)  Postponement 
B)  Buffering 
C)  Hedging 
D)  Transfer 
A)  Postponement 
B)  Buffering 
C)  Hedging 
D)  Transfer

Question 9

The Maritime Transportation Security Act of 2002 is intended to:

Accepted Answer

A)  Protect U.S. ports and waterways from terrorist attack 
B)  Reduce the threat that a maritime container will be used to deliver a weapon 
C)  Streamline cargo manifests 
D)  Establish ocean based power generation 
A)  Protect U.S. ports and waterways from terrorist attack 
B)  Reduce the threat that a maritime container will be used to deliver a weapon 
C)  Streamline cargo manifests 
D)  Establish ocean based power generation

Question 10

According to the 2008 Aberdeen Group study what percent of firms suffered supply chain risk related financial loss?

Accepted Answer

A)  12% 
B)  58% 
C)  99% 
D)  75% 
A)  12% 
B)  58% 
C)  99% 
D)  75%

Question 11

The submission of advanced electronic data on all shipments is a requirement of?

Accepted Answer

A)  Container Security Initiative 
B)  Trade Act of 2002 
C)  Maritime Transportation Security Act of 2002 
D)  Customs-Trade Partnership Act 
A)  Container Security Initiative 
B)  Trade Act of 2002 
C)  Maritime Transportation Security Act of 2002 
D)  Customs-Trade Partnership Act

Question 12

Business continuity planning is defined as:

Accepted Answer

The processes and procedures a

Question 13

A risk mitigation strategy should produce an action plan that identifies that includes all of the following except:

Accepted Answer

A)  Roles and responsibilities for developing the strategy 
B)  Resources required to carry out the planned actions 
C)  Conditions present in order for risk level to be acceptable 
D)  A way to get rid of the risk completely 
A)  Roles and responsibilities for developing the strategy 
B)  Resources required to carry out the planned actions 
C)  Conditions present in order for risk level to be acceptable 
D)  A way to get rid of the risk completely

Question 14

The objectives of the risk management process are:

Accepted Answer

Define the key objectives and scope of t

Question 15

Supply chain disruption can result in:

Accepted Answer

A)  Stock price increase 
B)  Lower operating performance 
C)  Inventory decrease 
D)  Higher return on assets 
A)  Stock price increase 
B)  Lower operating performance 
C)  Inventory decrease 
D)  Higher return on assets

Question 16

Risk management is defined as:

Accepted Answer

The variety of activities unde

Question 17

Describe Customs-Trade Partnership Against Terrorism (C-TPAT).

Accepted Answer

The Customs-Trade Partnership Again Terr

Question 18

What is the final step in risk management?

Accepted Answer

A)  Reviewing and monitoring 
B)  Reduction 
C)  Identification 
D)  Analysis 
A)  Reviewing and monitoring 
B)  Reduction 
C)  Identification 
D)  Analysis

Question 19

What are the key outputs of a risk assessment process? What should be done with these outputs?

Accepted Answer

1.Relative ranking or prioritization of

Question 20

The process which provides a baseline evaluation of risk in a rapid and cost-effective manner is known as:

Accepted Answer

A)  Quantitative risk analysis 
B)  Event management software 
C)  Qualitative risk analysis 
D)  Risk avoidance 
A)  Quantitative risk analysis 
B)  Event management software 
C)  Qualitative risk analysis 
D)  Risk avoidance

What is the objective of risk assessment?

Which of the following is a type of product loss?

Describe the four step risk management process.

A deliberate product contamination risk is called?

Define disruption and risk in general terms and in terms of transportation

As of 2007 how many companies were members of C-TPAT?

What is the simplest way to eliminate risk?

Not putting all your "eggs in one basket" is what type of strategy?

The Maritime Transportation Security Act of 2002 is intended to:

According to the 2008 Aberdeen Group study what percent of firms suffered supply chain risk related financial loss?

The submission of advanced electronic data on all shipments is a requirement of?

Business continuity planning is defined as:

A risk mitigation strategy should produce an action plan that identifies that includes all of the following except:

The objectives of the risk management process are:

Supply chain disruption can result in:

Risk management is defined as:

Describe Customs-Trade Partnership Against Terrorism (C-TPAT).

What is the final step in risk management?

What are the key outputs of a risk assessment process? What should be done with these outputs?

The process which provides a baseline evaluation of risk in a rapid and cost-effective manner is known as:

Transportation: Critical Link in the Supply Chain

Transportation: The Critical Link in the Economy

Transportation Regulation and Public Policy

Costing and Pricing in Transportation

Motor Carriers

Railroads

Airlines

Water Carriers and Pipelines

Global Transportation Planning

Global Transportation Execution

Third Party Logistics

Private Transportation and Fleet Management

Issues and Challenges of Global Supply Chains

Filters

Exam 9: Transportation Risk Management

What is the objective of risk assessment?

Which of the following is a type of product loss?

Describe the four step risk management process.

A deliberate product contamination risk is called?

Define disruption and risk in general terms and in terms of transportation

As of 2007 how many companies were members of C-TPAT?

What is the simplest way to eliminate risk?

Not putting all your "eggs in one basket" is what type of strategy?

The Maritime Transportation Security Act of 2002 is intended to:

According to the 2008 Aberdeen Group study what percent of firms suffered supply chain risk related financial loss?

The submission of advanced electronic data on all shipments is a requirement of?

Business continuity planning is defined as:

A risk mitigation strategy should produce an action plan that identifies that includes all of the following except:

The objectives of the risk management process are:

Supply chain disruption can result in:

Risk management is defined as:

Describe Customs-Trade Partnership Against Terrorism (C-TPAT).

What is the final step in risk management?

What are the key outputs of a risk assessment process? What should be done with these outputs?

The process which provides a baseline evaluation of risk in a rapid and cost-effective manner is known as:

Transportation: Critical Link in the Supply Chain

Transportation: The Critical Link in the Economy

Transportation Regulation and Public Policy

Costing and Pricing in Transportation

Motor Carriers

Railroads

Airlines

Water Carriers and Pipelines

Global Transportation Planning

Global Transportation Execution

Third Party Logistics

Private Transportation and Fleet Management

Issues and Challenges of Global Supply Chains

Filters