Question 1

________ are controls embedded in business processes where a majority of security breaches occur.

Accepted Answer

Application controls

Question 2

Match the ERM component name to the appropriate definition.
-Monitoring

Accepted Answer

A) This is comprised of policies and procedures established and implemented to ensure risk responses are effective. 
B) This involves identifying occurrences that affect an enterprise's ability to attain its objectives. 
C) This involves ensuring relevant data is captured and communicated effectively throughout the organization to appropriate individuals in a timely manner. 
D) This involves watched evaluation and feedback that permits modifications as needed. 
E) This ensures that the enterprise has a process for setting goals that are consistent with the entity's mission and risk appetite.
F)This involves the risk management philosophy of the enterprise, including the tone set by top management. 
A) This is comprised of policies and procedures established and implemented to ensure risk responses are effective. 
B) This involves identifying occurrences that affect an enterprise's ability to attain its objectives. 
C) This involves ensuring relevant data is captured and communicated effectively throughout the organization to appropriate individuals in a timely manner. 
D) This involves watched evaluation and feedback that permits modifications as needed. 
E) This ensures that the enterprise has a process for setting goals that are consistent with the entity's mission and risk appetite.
F)This involves the risk management philosophy of the enterprise, including the tone set by top management. D

Question 3

At the top management level, ________ IT controls provide IT governance that sets the tone from the top of the enterprise.

Accepted Answer

entity-level

Question 4

How can IT build sustainability into IT controls?

Accepted Answer

Redesign or reconfigure controls to buil

Question 5

Which ERM objective relates to the goals that support a corporation's mission?

Accepted Answer

A) Reporting objective 
B) Operational objective 
C) Strategic objective 
D) Compliance objective 
A) Reporting objective 
B) Operational objective 
C) Strategic objective 
D) Compliance objective

Question 6

What are four internal events that may pose a risk to an enterprise's ability to achieve objectives? Provide examples.

Accepted Answer

Infrastructures include events related t

Question 7

Application controls are controls over IT services, such as networks and database systems.

Accepted Answer

A) True 
 B)False

Question 8

Which ERM component is comprised of policies and procedures established and implemented to ensure risk responses are effective?

Accepted Answer

A) Risk assessment 
B) Control activities 
C) Information and communication 
D) Objective setting 
A) Risk assessment 
B) Control activities 
C) Information and communication 
D) Objective setting

Question 9

Focusing on sustainable operations increases the risk of dependence on dwindling natural resources that may become cost prohibitive in the future.

Accepted Answer

A) True 
 B)False

Question 10

Given the impossibility of foreseeing every conceivable control to address all threats, risk management uses the approach of assessing risk to determine the probability of risk, its frequency, and its impact.

Accepted Answer

A) True 
 B)False

Question 11

A silo approach with separate departments developing separate security programs without consideration of comprehensive risk management can prove to be very effective.

Accepted Answer

A) True 
 B)False

Question 12

In the context of enterprise risk management, ________ refers to the process of monitoring an entity's enterprise risk management.

Accepted Answer

The answer of In the context of enterprise risk management,...

Question 13

What are the four risk response categories? Include a definition of each.

Accepted Answer

Avoidance. This risk response involves a

Question 14

Effective implementation of ERM requires a robust discussion of the potential impact of not mitigating risks and the likelihood that the risk will impact the organization.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following is NOT one of the 4Ts of risk management?

Accepted Answer

A) Treat risk 
B) Terminate risk 
C) Transform risk 
D) Transfer risk 
A) Treat risk 
B) Terminate risk 
C) Transform risk 
D) Transfer risk

Question 16

________ practices offer a solution to reduce risk.

Accepted Answer

The answer of ________ practices offer a solution to reduce...

Question 17

Which risk time frame relates to tactics, such as new projects that initiate change?

Accepted Answer

A) Short term 
B) Medium term 
C) Long term 
D) Intermediate term 
A) Short term 
B) Medium term 
C) Long term 
D) Intermediate term

Question 18

The risk time frame ________ relates to the organization's strategy, affecting three to five years or longer.

Accepted Answer

The answer of The risk time frame ________ relates to...

Question 19

Identifying, assessing, and mitigating risks has not been shown to produce better business performance.

Accepted Answer

A) True 
 B)False

Question 20

In ERM risk assessment, ________ may refer to assessing likelihood using a quantitative measure, such as percentages.

Accepted Answer

The answer of In ERM risk assessment, ________ may refer...

________ are controls embedded in business processes where a majority of security breaches occur.

Match the ERM component name to the appropriate definition. -Monitoring

At the top management level, ________ IT controls provide IT governance that sets the tone from the top of the enterprise.

How can IT build sustainability into IT controls?

Which ERM objective relates to the goals that support a corporation's mission?

What are four internal events that may pose a risk to an enterprise's ability to achieve objectives? Provide examples.

Application controls are controls over IT services, such as networks and database systems.

Which ERM component is comprised of policies and procedures established and implemented to ensure risk responses are effective?

Focusing on sustainable operations increases the risk of dependence on dwindling natural resources that may become cost prohibitive in the future.

Given the impossibility of foreseeing every conceivable control to address all threats, risk management uses the approach of assessing risk to determine the probability of risk, its frequency, and its impact.

A silo approach with separate departments developing separate security programs without consideration of comprehensive risk management can prove to be very effective.

In the context of enterprise risk management, ________ refers to the process of monitoring an entity's enterprise risk management.

What are the four risk response categories? Include a definition of each.

Effective implementation of ERM requires a robust discussion of the potential impact of not mitigating risks and the likelihood that the risk will impact the organization.

Which of the following is NOT one of the 4Ts of risk management?

________ practices offer a solution to reduce risk.

Which risk time frame relates to tactics, such as new projects that initiate change?

The risk time frame ________ relates to the organization's strategy, affecting three to five years or longer.

Identifying, assessing, and mitigating risks has not been shown to produce better business performance.

In ERM risk assessment, ________ may refer to assessing likelihood using a quantitative measure, such as percentages.

Accounting Systems Insights

Accounting Databases

Accounting Interface: Database Forms, Queries, and Reports

Accounting Systems and Business Processes

Business Processes: Purchasing, Sales, and Payroll Cycles

Integrated Enterprise Systems and Cloud Computing

Accounting and Business Intelligence

Accounting and Sustainability Intelligence

XBRL: Intelligent Business Reporting

Fraud and Internal Control

Cybersecurity

Accounting System Development

Database Design: ERD, REA, and SQL

Filters

Exam 12: The Risk Intelligent Enterprise: Enterprise Risk Management

________ are controls embedded in business processes where a majority of security breaches occur.

Match the ERM component name to the appropriate definition. -Monitoring

At the top management level, ________ IT controls provide IT governance that sets the tone from the top of the enterprise.

How can IT build sustainability into IT controls?

Which ERM objective relates to the goals that support a corporation's mission?

What are four internal events that may pose a risk to an enterprise's ability to achieve objectives? Provide examples.

Application controls are controls over IT services, such as networks and database systems.

Which ERM component is comprised of policies and procedures established and implemented to ensure risk responses are effective?

Focusing on sustainable operations increases the risk of dependence on dwindling natural resources that may become cost prohibitive in the future.

Given the impossibility of foreseeing every conceivable control to address all threats, risk management uses the approach of assessing risk to determine the probability of risk, its frequency, and its impact.

A silo approach with separate departments developing separate security programs without consideration of comprehensive risk management can prove to be very effective.

In the context of enterprise risk management, ________ refers to the process of monitoring an entity's enterprise risk management.

What are the four risk response categories? Include a definition of each.

Effective implementation of ERM requires a robust discussion of the potential impact of not mitigating risks and the likelihood that the risk will impact the organization.

Which of the following is NOT one of the 4Ts of risk management?

________ practices offer a solution to reduce risk.

Which risk time frame relates to tactics, such as new projects that initiate change?

The risk time frame ________ relates to the organization's strategy, affecting three to five years or longer.

Identifying, assessing, and mitigating risks has not been shown to produce better business performance.

In ERM risk assessment, ________ may refer to assessing likelihood using a quantitative measure, such as percentages.

Accounting Systems Insights

Accounting Databases

Accounting Interface: Database Forms, Queries, and Reports

Accounting Systems and Business Processes

Business Processes: Purchasing, Sales, and Payroll Cycles

Integrated Enterprise Systems and Cloud Computing

Accounting and Business Intelligence

Accounting and Sustainability Intelligence

XBRL: Intelligent Business Reporting

Fraud and Internal Control

Cybersecurity

Accounting System Development

Database Design: ERD, REA, and SQL

Filters