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Risk measurement
Risk measurement
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Flashcards
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Questions
10
Answers
1
What are methods used to measure risk?
Stress testing and Transaction processing systems (TPS)
Probability and impact analysis and Scenario analysis
Physical controls and Internal audits
Authorization and approval and Value at Risk
2
Which monitoring activity involves an independent assessment of internal controls?
Self-assessment
Internal audits
Continuous monitoring
Management reviews
3
Are Physical controls and Value at Risk examples of control activities?
True
False
4
What are control activities?
consists of five interrelated components
One of the five components of internal control
the five parts of the system that must be established
involves approval from designated individuals before a transaction.
5
The concept of monitoring is the evaluation of an organization's internal control system to see if it is effective
True
False
6
Which type of information system is used to generate reports and support decision-making?
Decision support systems (DSS)
Management information systems (MIS)
Transaction processing systems (TPS)
Executive information systems (EIS)
7
Is monitoring a zero-commitment activity?
False
True
8
What are information systems?
Collection of hardware, software,data,and personnel that are used to manage
activities taken to assess the quality of operation ofthe internal control
a critical role in cybersecurity
ongoing assessment of an organization's internal control system
9
Is the process of quantifying the level of risk associated with a particular activity the concept of risk measurement?
True
False
10
Are control activities an essential part of an effective internal control system?
False
True
