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Risk Awareness ‘Pursuing a Risk Aware Culture in ACU’ Exam

By Valerij Susanna-Fraaij / September 17, 2024

Risk Awareness Training 2024 – Pursuing a Risk Aware Culture in ACU Risk Awareness Training – Pursuing a Risk Aware Culture in ACU Risk Awareness ‘Pursuing a Risk Aware Culture in ACU’ Exam

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Question 1 of 20

1. Question
What is the main purpose of Enterprise Risk Management (ERM) according to COSO’s June 2017 definition?
- To increase profits
- To manage risk in creating, preserving, and realizing value
- To avoid all risks entirely
- To manage only financial risks
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Question 2 of 20

2. Question
Which of the following is NOT part of the definition of ERM?
- Culture
- Capabilities
- Practices
- Profit maximization
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Question 3 of 20

3. Question
What is the main objective of Enterprise Risk Management (ERM)?
- To eliminate all risks
- To maintain risk at an acceptable level and ensure balance between threats and opportunities
- To only focus on external risks
- To maximize profit without considering risks
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Question 4 of 20

4. Question
How does ACU’s culture influence its risk management policies?
- It determines how risks are eliminated
- It influences how risk is identified, accepted, and managed
- It only affects external risk management
- It has no impact on risk management policies
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Question 5 of 20

5. Question
What reflects ACU’s core values?
- Its financial success
- Its risk management policies
- Its culture, including behaviors and decisions
- Its legal compliance
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Question 6 of 20

6. Question
What can impede ACU’s ability to achieve its strategy and business objectives?
- Accepting too many risks
- Behaviors and decisions not aligning with core values
- Identifying too many opportunities
- Having a strict risk management policy
Correct

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Question 7 of 20

7. Question
Which of the following core values are NOT ACU’s core value?
- Professional
- Innovative
- Teamwork
- Maximizing Profits
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Question 8 of 20

8. Question
Which of the following best defines Risk Appetite?
- The amount of risk an organization is willing to accept in pursuit of its objectives
- The maximum loss an organization can withstand before going bankrupt
- The smallest amount of risk an organization is allowed to take
- The amount of risk that exceeds an organization's capacity
Correct

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Question 9 of 20

9. Question
What is ACU’s Risk Appetite for Governance Risk?
- ACU has no risk appetite for governance risk. ACU ensures that the organizational structure and guidance are in place.
- ACU has low risk appetite for governance risk. ACU ensures that the organizational structure and guidance are in place.
- ACU has High risk appetite for governance risk. ACU ensures that the organizational structure and guidance are in place.
- ACU has Medium risk appetite for governance risk. ACU ensures that the organizational structure and guidance are in place.
Correct

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Question 10 of 20

10. Question
What is ACU’s Risk Appetite for Credit Risk?
- ACU has no risk appetite for credit risks. ACU carefully manages this risk by applying a strict set of criteria (described in the Credit Policy – Pdf) and limiting its transactions to members with a high credit rating (as described in the Credit Policy – Pdf).
- ACU has a low risk appetite for credit risks. ACU carefully manages this risk by applying a strict set of criteria (described in the Credit Policy – Pdf) and limiting its transactions to members with a high credit rating (as described in the Credit Policy – Pdf).
- ACU has a HIGH risk appetite for credit risks. ACU carefully manages this risk by applying a strict set of criteria (described in the Credit Policy – Pdf) and limiting its transactions to members with a high credit rating (as described in the Credit Policy – Pdf).
- ACU has no risk appetite for credit risks.
Correct

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Question 11 of 20

11. Question
What does it mean to embed risk in decision-making?
- To completely avoid all risks in decision-making
- To make risk the first consideration while balancing it with opportunities
- To consider risks only after the opportunities have been evaluated
- To delegate all risk-related decisions to a specialized team
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Question 12 of 20

12. Question
A risk-aware culture encourages employees to:
- Identify risks but keep them to themselves
- Avoid discussing risks with colleagues
- Know their risks, feel comfortable discussing them, and help resolve them
- Focus only on opportunities and ignore risks
Correct

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Question 13 of 20

13. Question
What does it mean to comply with the organization’s Risk Appetite?
- To avoid taking any risks
- To ensure that all decisions align with the maximum level of risk the organization is willing to take
- To only consider financial risks
- To take risks beyond the organization's capacity to maximize
Correct

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Question 14 of 20

14. Question
What could happen if sensitive information is left in public areas?
- It could lead to an increase in productivity
- Sensitive information could be viewed by unauthorized personnel
- It would improve collaboration in the office
- It would save time when sharing documents
Correct

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Question 15 of 20

15. Question
Why is it important to follow the Clean Desk Policy’s rules about disposing of documents?
- To reduce paper waste
- To protect sensitive and confidential information from being exposed
- To make the office look tidy
- To avoid misplacing documents
Correct

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Question 16 of 20

16. Question
What should you do if you need to leave your workplace according to the Clean Desk Policy?
- Leave sensitive documents on your desk
- Securely dispose of sensitive and confidential documents
- Hand sensitive documents to a colleague
- Take sensitive documents home
Correct

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Question 17 of 20

17. Question
What does the Clean Desk Policy recommend regarding printed documents?
- Print as many copies as possible
- Keep your printed documents safe
- Leave printed documents in public areas
- Share your printed documents with visitors
Correct

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Question 18 of 20

18. Question
According to Clean Desk Policy, what should you avoid leaving in public areas?
- Personal belongings
- Office supplies
- Sensitive information
- Promotional material
Correct

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Question 19 of 20

19. Question
Which of the following is required by the Clean Desk Policy?
- Always lock your workstation before leaving your desk
- Turn off your computer but leave it unlocked
- Leave your workstation open for quick access
- Only lock your workstation at the end of the day
Correct

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Question 20 of 20

20. Question
ACU Strategic Objective:
Optimize work processes aimed at operational efficiency, effectiveness, and member satisfaction.

Department A is optimizing its processes, and in this effort, the Risk Department is providing support and reviewing for potential risks. An employee of Department A has noticed that an activity within the process is hindering the efficiency, effectiveness, and practical satisfaction of members. The reasons for this include, among others, lack of resources, whether human, system, or the necessary knowledge of the staff.

As an employee of Department A, what action would you take in this scenario for ACU to meet his strategic objective ?
- Identify the risk and remain quiet, letting the supervisor take action
- Identify the risk and communicate it to your Supervisor, Risk, or Management in an open and honest manner
- Identify the risk and communicate it with your closest colleagues
- Identify the risk and inform the Supervisory Board
Correct

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