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Understanding Operational Risk Quiz

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1. Which of the following is the best definition of operational risk?

2. Which of the following is NOT a type of operational risk?

3. Why is it important for a business to manage operational risk?

4. Which department within a company is typically responsible for overseeing operational risk?

5. Operational risk can be reduced through which of the following means?

6. Risk mitigation strategies can include which of the following?

7. What type of risk involves loss due to unethical behavior, such as misleading advertising or illegal sales techniques?

8. Which of the following operational risks is caused by a failure in technology systems?

9. Why is operational risk sometimes referred to as 'residual risk'?

10. Which of the following is NOT a likely consequence of poor operational risk management?