​Which of the Following Steps Within the Enterprise Risk Management

question 6

Multiple Choice

​Which of the following steps within the enterprise risk management (ERM) process should occur immediately after the risk assessment?

• A) ​Risk Appetite Determination
• B) ​Risk Monitoring
• C) ​Risk Response
• D) ​Risk Identification

---

Definitions:

Financial Advantage

The benefit obtained from making specific financial decisions or investments, often measured in terms of profit, savings, or a more favorable financial position.

Variable Costs

Expenses that change in proportion to the business activity level.

Financial Advantage

The benefit gained in financial terms, likely leading to improved profitability or reduced expenses.

Contribution Margin

The amount remaining from sales revenue after variable expenses are deducted, indicating how much revenue is contributing to fixed expenses and profit.