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Question 1

Yusef is a new procurement manager at FRD Incorporated. He is looking through the Risk Assessments for his department and notices that the cause of the risk is not identified. Why might this be?

Options :

A : this is a mistake - all risk assessments should specify the cause of the risk. He should raise this with his manager

B : the organisation has a high risk appetite

C : the organisation has not recorded cause for cultural reasons

D : the organisation has completed the risk assessments incorrectly

Answer: C

Question 2

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

Which of the following will you put into box 5?

Options :

A : new technology

B : forward contract

C : outsource

D : insurance

Answer: A

Question 3

An indemnity clause should contain which of the following pieces of information 1) duties of both parties 2) a monetary limit 3) insurance levels 4) details of the breach 5) a time limit

Options :

A : 1,2,5

B : 1,3,4

C : 2,4,5

D : 3,4,5

Answer: A

Question 4

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

Question 5

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