Question 1

How does a pure risk differ from a speculative risk?

Options :

A : A pure risk always has an environmental cause whereas a speculative risk always involves human error.

B : A pure risk can be measured in probability terms whereas a speculative risk cannot.

C : A pure risk is not subject to regulatory control but a speculative risk always is.

D : A pure risk only leads to the possibility of a loss, whereas a speculative risk may lead to a gain.

Answer: D

Question 2

Where does an internal auditor typically spend most of his time auditing today?

Options :

A : People

B : Process

C : Technology

D : Infrastructure

Answer: B

Question 3

Which of the following documents information are relevant to the organization’s risk management framework, process, and system?

Options :

A : Reporting and auditing

B : Recording and reporting

C : Visualizing and conceptualizing

D : Rationalizing and reporting

Answer: B

Question 4

Which of the following are two ISO 31000:2018 risk management principles? (Choose two)

Options :

A : Integrated

B : Customized

C : Functional

D : Statistical

E : Design

F : Strategy

Answer:

Question 5

ISO uses the concept of uncertainty as the driver and rationale for risk management.

Options :

A : True

B : False

Answer: A

Free ISO-31000-CLA Mock Exam – Practice Online Confidently