Review questions

1. The primary reason for having a risk owner is to:
   1. Leverage their resources
   2. Ensure accountability
   3. Provide flexibility
   4. Seek assistance
2. Which of the following is not a risk response strategy?
   1. Accept
   2. Transfer
   3. Treat
   4. Mitigate
3. A risk manager determines that the primary controls for a risk are not sufficient and hence decides to implement a compensating set of controls. This is an example of:
   1. Risk mitigation
   2. Risk acceptance
   3. Risk sharing
   4. Risk avoidance
4. Senior management has decided to buy insurance for an earthquake-prone site. This is an example of:
   1. Risk mitigation
   2. Risk acceptance
   3. Risk sharing
   4. Risk avoidance
5. A risk manager proposes that management terminates onboarding a new tool as it does not adapt itself well to the organization’s changing requirements. This is an example of:
   1. Risk mitigation
   2. Risk acceptance
   3. Risk sharing
   4. Risk avoidance
6. An organization decides to allow all employees to work remotely for a brief period of time due to geographical risks. This is...