Risk management training aid—post-training assessment answers

The following Practice Compliance precedent provides comprehensive and up to date legal information covering:

  • Risk management training aid—post-training assessment answers

Risk management training aid—post-training assessment answers

QuestionCorrect answer
1. What is a risk? (c) The possibility of an adverse/unwelcome outcome
2. How do we identify risk? (a) Using all available sources, including meeting staff, looking at claims and complaints records, reviewing our regulatory experience, analysing our compliance failure registers and reviewing internal risk reports
3. What should you do if you suspect a new risk has emerged/an existing risk has changed? (b) Complete an Internal risk report
4. How do we calculate the risk rating for an identified

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