OCEG GRCP Exam - Topic 2 Question 33 Discussion

Question

What is the role of likelihood and impact in measuring the effect of uncertainty on objectives?

Amber · Accepted Answer

A) Likelihood measures the chance of an event occurring, and impact measures the economic and non-economic consequences

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B) Likelihood measures the number of obstacles, and impact measures the number of opportunities

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C) Likelihood measures the financial gain, and impact measures the financial loss

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D) Likelihood and impact are irrelevant in measuring the effect of uncertainty