How Is Expected Loss Calculated When Performing Risk Assessment

question 79

Multiple Choice

How is expected loss calculated when performing risk assessment?

• A) impact times expected loss
• B) impact times likelihood
• C) inherent risk times likelihood
• D) residual risk times likelihood

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Definitions:

P-charts

Control charts used for monitoring the proportion of defective units in a process over time.

Control Limits

Statistical boundaries set in control charts that indicate the acceptable range of process variation, helping to identify when a process is out of control.

P-chart

A type of control chart used for monitoring the proportion of defective units in a process over time.

LCL

Lower Control Limit, a statistical measure used in quality control processes to define the lowest acceptable limit of a process variation.