Answered: Pasensya Ka Na Ha God Bless Co., an…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Question 38

Pasensya Ka Na Ha God Bless Co., an investment company, is constructing a complex of four residential rental buildings that will have more than 100 units. The complex is in a geographic area that has a long rainy season. Which of the following steps would likely be most essential to monitoring and mitigating the risk of rain damage?

a. Assuring compliance with local codes during construction

b. Establish a reserve for capital expenditures, if needed

c. Actively encouraging renters to report possible problems

d. Monthly inspection by internal maintenance staff and annual assessment by external engineering firms

Question 39

Which of the following is the best approach in assessing an organization's risk management approach?

a. Consider multiple components of an organization's industry, culture, and objectives to determine the most effective risk management approach

b. Find out what is the most common framework being used by competitors in the industry

c. Meet with the internal auditors to find out which approach they assess as the best

d. Create inventories of the ISO and COSO frameworks and align them with the organization's activities to determine gaps

Question 40

Put the following risk identification activities in the proper sequence:
I. Develop initial risk register
II. Conduct Control Risk Self-Assessment
III. Calculate risk severity
IV. Define the risk universe

a. II, IV, I, and III

b. II, III, IV, and I

c. III, IV, II, and I

d. I, II, III, and IV

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