Discuss GAQM ISO-31000-CLA Exam Topic 2 Question 19

What could a financial organisation make primary use of, to assess whether its risk management systems are likely to fail?

AKey control indicators.

BKey risk indicators.

CSilo-based risk management.

DPhysical inspections.

Suggested Answer: B

Key risk indicators are metrics that provide information about potential changes in the level of risk exposure3. They can help an organisation monitor and manage its risks more effectively.Key control indicators are metrics that measure the performance of internal controls4.

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15 comments · newest first

Dong 10 months ago

Surprised that people think anything other than key risk indicators would work!

Hannah 10 months ago

Silo-based risk management? That's outdated!

Ressie 11 months ago

I disagree, key control indicators are more relevant.

Britt 11 months ago

Wait, physical inspections? Really?

Marya 11 months ago

Definitely key risk indicators!

Dorothy 11 months ago

Physical inspections seem too hands-on for this question. I feel like the answer has to be more about data-driven metrics, like key risk indicators.

Andra 12 months ago

I'm leaning towards key risk indicators too, but I wonder if silo-based risk management could play a role in assessing failures. It seems relevant somehow.

Lakeesha 12 months ago

I remember practicing a question similar to this, and I think key control indicators were mentioned as well. But I feel like they focus more on controls than on actual risks.

Colene 12 months ago

I think key risk indicators might be the right choice here, but I'm not entirely sure. We discussed them in class as a way to measure potential risks.

Geraldo 1 year ago

I'm a little confused by the wording of the question. Is it asking about the specific tools or metrics they would use, or the overall approach to risk management? I want to make sure I understand the question fully before answering.

Oretha 1 year ago

Okay, I've got this. The question is asking about the primary tool a financial organization would use to assess their risk management systems. Based on what we've learned, the answer has to be key risk indicators.

Louvenia 1 year ago

Hmm, I'm a bit unsure about this one. I know we covered risk management in class, but I can't quite remember the specific terminology they're looking for. I'll have to think this through carefully.

Dahlia 1 year ago

This seems like a straightforward question about risk management. I think the key is to focus on the indicators that would help assess the likelihood of the risk management systems failing.

Leatha 1 year ago

B) Key risk indicators. Duh, that's the obvious choice to assess risk management systems. What is this, a trick question?

Annmarie 1 year ago

I think a financial organisation could make primary use of key risk indicators.

GAQM ISO-31000-CLA Exam - Topic 2 Question 19 Discussion