BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The chance of hazards or bad con-sequences; exposure to injury or loss.
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A mission must be determined when more than one hazard is identified.
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The identification and assessments of an individual hazard or all identified hazards combined to complete a task.
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Is the probability of the risk.
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Detailed explanation-1: -At a high level, the formula is as follows: Residual risk = Inherent risks-impact of risk controls. Residual risks can also be assessed relative to risk tolerance (or risk appetite) to evaluate the effectiveness of recovery plans.
Detailed explanation-2: -Portion of risk remaining after security measures have been applied.
Detailed explanation-3: -Answer and Explanation: Residual risk is the risk that is not reduced by the management even after taking all the risk reduction steps by the organization.
Detailed explanation-4: -Residual risk is the risk that something will occur after controls or procedures are implemented to prevent it. In addition to audits required by state regulations, those activities or functions with higher levels of residual risk are typically selected for audits.