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RISK
MANAGEMENT
Instructions to candidates:
a) Time
allowed: Three hours (plus an extra ten minutes’ reading time at the start – do
not write anything during this time)
b)
Answer any FIVE questions
c) All
questions carry equal marks. Marks for each question are shown in [ ]
1.
Determining the risk appetite for an organisation is a key decision for a board
of directors.
a)
Explain the concept of risk appetite, supporting your answer with examples.
[12]
b) Set
out and explain FOUR key questions that could be asked in a checklist of an
organisation’s willingness to take on a risk. [8]
2.
Critically evaluate the potential benefits of a risk database to an
organisation. [20]
3.
Explain and evaluate EACH of the commonly recognised stages in the core risk
management process. [20]
4. The
Business Risk Breakdown Structure (BRBS) concept has attracted increasing
interest in the management of risk. Explain what a BRBS is and analyse how an organisation might benefit
from using it. [20]
5.
Analyse the potential benefits to an organisation of legal risk management,
supporting your answer with examples. [20]
6. Set
out the process you would follow in implementing a process of risk
identification. [20]
7.
Define and discuss the benefits likely to arise from excellent operational risk
management. [20]
8.
Evaluate the importance and contribution of both SWOT analysis and PEST analysis
in assessing the risk profile of an organisation. [20]