Question 1

Match the ERM Objective with the appropriate definition.
-Reporting objectives

Accepted Answer

A) These objectives relate to the reliability of the enterprise's reporting, both internal and external. 
B) These objectives relate to the effective and efficient use of the entity's resources. 
C) These objectives relate to goals that support the entity's mission. 
D) These objectives relate to the entity's compliance with all applicable laws and regulations. 
A) These objectives relate to the reliability of the enterprise's reporting, both internal and external. 
B) These objectives relate to the effective and efficient use of the entity's resources. 
C) These objectives relate to goals that support the entity's mission. 
D) These objectives relate to the entity's compliance with all applicable laws and regulations.

Question 2

The use of access security controls on spreadsheets is not an effective method to improve spreadsheet risk management.

Accepted Answer

A) True 
 B)False

Question 3

The COSO Enterprise Risk Management framework replaces the COSO framework for internal control.

Accepted Answer

A) True 
 B)False

Question 4

Whether enterprise risk management is effective and sustainable depends upon

Accepted Answer

A) The economy 
B) The weakest link in the system 
C) Consumer demands 
D) How transparent the enterprise is with shareholders 
A) The economy 
B) The weakest link in the system 
C) Consumer demands 
D) How transparent the enterprise is with shareholders

Question 5

Which of the following is NOT a dimension in an ERM cube?

Accepted Answer

A) ERM resources 
B) ERM objectives 
C) ERM components 
D) ERM units 
A) ERM resources 
B) ERM objectives 
C) ERM components 
D) ERM units

Question 6

Match the ERM Objective with the appropriate definition.
-Operational objectives

Accepted Answer

A) These objectives relate to the reliability of the enterprise's reporting, both internal and external. 
B) These objectives relate to the effective and efficient use of the entity's resources. 
C) These objectives relate to goals that support the entity's mission. 
D) These objectives relate to the entity's compliance with all applicable laws and regulations. 
A) These objectives relate to the reliability of the enterprise's reporting, both internal and external. 
B) These objectives relate to the effective and efficient use of the entity's resources. 
C) These objectives relate to goals that support the entity's mission. 
D) These objectives relate to the entity's compliance with all applicable laws and regulations.

Question 7

A well developed and articulated risk management philosophy can provide consistency in risk attitudes throughout the entire enterprise.

Accepted Answer

A) True 
 B)False

Question 8

________ is the acceptable level of variation in attaining objectives.

Accepted Answer

The answer of ________ is the acceptable level of variation...

Match the ERM Objective with the appropriate definition. -Reporting objectives

The use of access security controls on spreadsheets is not an effective method to improve spreadsheet risk management.

The COSO Enterprise Risk Management framework replaces the COSO framework for internal control.

Whether enterprise risk management is effective and sustainable depends upon

Which of the following is NOT a dimension in an ERM cube?

Match the ERM Objective with the appropriate definition. -Operational objectives

A well developed and articulated risk management philosophy can provide consistency in risk attitudes throughout the entire enterprise.

________ is the acceptable level of variation in attaining objectives.

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

Match the ERM Objective with the appropriate definition. -Reporting objectives

The use of access security controls on spreadsheets is not an effective method to improve spreadsheet risk management.

The COSO Enterprise Risk Management framework replaces the COSO framework for internal control.

Whether enterprise risk management is effective and sustainable depends upon

Which of the following is NOT a dimension in an ERM cube?

Match the ERM Objective with the appropriate definition. -Operational objectives

A well developed and articulated risk management philosophy can provide consistency in risk attitudes throughout the entire enterprise.

________ is the acceptable level of variation in attaining objectives.

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