American Bankers Association Exam CTFA Topic 5 Question 61 Discussion

Actual exam question for American Bankers Association's CTFA exam

Question #: 61
Topic #: 5

Identification and documentation of the controls and policies which address the risk management issues for each of the Standards is the necessary step for:

AOperational procedure

BGuideline procedure

COrganizational policy

DSelf-assessment process

Show Suggested Answer

Suggested Answer: D

by Terrilyn at Mar 15, 2024, 10:24 AM

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Larae

5 months ago

Self-assessment process is also essential for ensuring that controls are effective and policies are being followed.

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Onita

5 months ago

Operational procedures are important too, but I believe organizational policy is the foundation for addressing risk management.

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Lashaunda

5 months ago

But what about operational procedure? Doesn't that play a role in risk management as well?

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Gabriele

5 months ago

I agree with Onita, having a clear organizational policy is crucial for addressing risk management issues.

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Onita

6 months ago

I think the necessary step for identification and documentation of controls and policies is organizing policy.

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Georgeanna

6 months ago

I believe it could also be D) Self-assessment process, as self-assessment helps in identifying and documenting controls.

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Margart

6 months ago

I agree with Ettie, because organizational policies provide a systematic approach to addressing risk management issues.

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Ettie

7 months ago

I think the answer is C) Organizational policy.

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