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L5M2 – Managing Supply Chain Risk

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Showing 7–9 of 10 questions

Question 7

Which of the following is a quantative method for completing a risk assessment and an alternative to using an impact scale?

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    rating of 1-5
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    impact analysis
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    4 Ts
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    monetary value
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    133 of the study guide says 'it is also possible for organisation to use a quantative method where they quantify the loss in terms of monitory value instead of an impact figure'. Rating 1-5 is incorrect because this is the same as an impact scale. Impact analysis is wrong because this isn't quantative. 4Ts are the ways you can mitigate risks.
Question 8

Fraud committed by an employee within a business is what type of risk?

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    internal risk
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    external risk
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    procurement risk
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    economic risk
Question 9

What is the job of an underwriter?

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    to assist a buyer in selecting the correct insurance
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    to advise required insurance levels for a contract
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    to evaluate insurance applications
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    to determine the validity of an insurance claim