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Question 1

Leo LLP is a company which sources materials internationally, and then sells these on nationally at a small margin. Leo LLP has noted that there is a risk of exchange rate fluctuations making their purchases unviable. The CFO has declared that the only way to mitigate this risk is via hedging and that they should look at price fixing. is this correct?

Options :

A : yes- hedging is the only solution to mitigate the risk of adverse price movements

B : yes- this reduces the risk to 0

C : no- Leo LLP could do nothing and increase its prices instead

D : no- Leo LLP can take out insurance to mitigate this risk

Answer: C

Question 2

2021-07-23-19-21-32-e2efebc73ed7d3407c3ab0a1142d7f4e

Which of the following will you put into box 7?

Options :

A : service credits

B : NDA

C : Conformance Specification

D : Force Majeure

Answer: C

Question 3

What is the final stage of Deming's Plan - Do - Check cycle which is encouraged by ISO9001?

Options :

A : Improve

B : Review

C : Act

D : Assess

Answer: C

Question 4

2021-07-23-18-48-15-361d6c186f2b89c0ea2ea8615b7eb3c7

Which of the following will you put into box 4?

Options :

A :

hazard

B : financial

C : strategic

D : operational

Answer: B

Question 5

In which of the following industries is it common to find dedicated resource for risk management?

Options :

A : banking and insurance

B : agriculture

C : manufacturing

D : the public sector

Answer: A