Which of the Following Statements About Operational Risk Awareness Is

question 605

Multiple Choice

Which of the following statements about operational risk awareness is correct?

• A) It is good practice to collect and disclose incidents and near-misses for the future benefit of the professional community.
• B) It is good practice to collect and analyze incidents and near-misses so as to set up preventive action plans for the future.
• C) A report describing operational risks should be made at the request of the front office.
• D) A report describing operational risks should be made at least once a year and provided to the front office.

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Definitions:

Monetary Outlay

The amount of money spent on a specific item, service, or activity.

Measure

A method or tool used to quantify or assess a variable or condition.

Value

Refers to the importance or worth that a product or service has in the eyes of the consumer, often influencing their purchasing decisions.

Marketing Mix

Refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market, typically encapsulated by the four Ps: Product, Price, Place, and Promotion.