Quiz & Worksheet - Risk Analysis & Management in Business

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

If management intentionally makes a bad decision to try and avoid issuing recall on their items, what type of risk will they be struggling with?

Operational risk

Financial risk

Strategic risk

Reputational risk

Worksheet

Print Risk Analysis & Risk Management in Business: Overview, Objectives & Comparison Worksheet

1. Which of the following is the best-fitting example of a situation of operational risk?

A company has to issue a worldwide apology and recall for some incorrectly made products.
A company has to restate their financial year end statements because they incorrectly accounted for bad debt.
A company is unsure what its mission really is, it grows so quickly, and all it really does is keep up with demand.
A key piece of machinery misses a couple of maintenance repairs and suddenly breaks down, halting production for 1-2 days.

2. Which of the following is NOT one of the risk management options given to management when they look for ways to manage risk?

Insure
Avoid
Accept
Ignore

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About This Quiz & Worksheet

The worksheet and quiz help you check your understanding of risk analysis and risk management in business. Operational risks and managerial approaches to risk are topics you need to know in order to do well on the quiz.

Quiz & Worksheet Goals

The goal of these tools is to check your comprehension of:

The definition of business risk
A situation of operational risk
Type of risk where management intentionally makes a bad decision to avoid issuing recall on their items
Risk management options

Skills Practiced

Information recall - access the knowledge you have gained about the correct managerial approach to risk
Reading comprehension - ensure that you draw the most important information from the lesson on risk analysis and management in business
Interpreting information - verify that you can read information about the word business risk and interpret it correctly

Additional Learning

Risk Analysis & Risk Management in Business: Overview, Objectives & Comparison is a lesson you can use to review more topics, including:

Types of risk
Where risk can be found
Strategies for mitigating risk

Practice Exams

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Risk Analysis & Risk Management in Business: Overview, Objectives & Comparison - Quiz & Worksheet