IIA Exam IIA-CHAL-QISA Topic 3 Question 12 Discussion

Actual exam question for IIA's IIA-CHAL-QISA exam

Question #: 12
Topic #: 3

[All IIA-CHAL-QISA Questions]

Applying ISO 31000; which of the following is part of the external context for risk management?

ARisk treatment method based on risk evaluation.

BOrganizational culture, objectives, and processes.

CThe regulatory and competitive environment.

DThe method of determining the risk level

Show Suggested Answer

Suggested Answer: C

ISO 31000 Context: ISO 31000 provides guidelines on risk management, emphasizing the importance of understanding the external context.

External Context: This includes external factors such as regulatory and competitive environments that can impact the organization's risk profile.

Regulatory Environment: Understanding regulations helps the organization ensure compliance and avoid legal risks.

Competitive Environment: Analyzing the competitive environment allows the organization to anticipate market changes and manage competitive risks.

ISO 31000 Risk Management Guidelines.

by Belen at Sep 15, 2024, 04:44 PM

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Junita

4 months ago

Haha, this exam is really testing our risk management chops! I'm confident C is the right answer, though.

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Katina

4 months ago

Ooh, this is a tricky one. I'm going to have to go with C, though. Can't forget about that all-important external context!

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Narcisa

3 months ago

Definitely, understanding the external context can help in making informed decisions about risk treatment.

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Brett

4 months ago

Yeah, it's important to consider external factors when assessing risks. It helps to have a comprehensive view.

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Noble

4 months ago

I think C is the right choice too. The regulatory and competitive environment play a big role in risk management.

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Brynn

4 months ago

I'll have to go with C. The regulatory and competitive landscape can really make or break your risk management strategy.

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Nancey

4 months ago

The external context can have a big impact on how we manage risks.

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Aliza

4 months ago

Definitely, it's important to consider external factors like regulations and competition.

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Chara

4 months ago

I agree, the regulatory and competitive environment is crucial for risk management.

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Selma

5 months ago

I believe it's important to consider the organizational culture, objectives, and processes as well. They can also impact risk management decisions.

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Oren

5 months ago

Hmm, I'm leaning towards C. The external environment is a key factor in risk management, and that's what the question is asking about.

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Timmy

4 months ago

That's true, B is important too. It's all about understanding the external context for effective risk management.

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Marti

4 months ago

But what about B? Organizational culture, objectives, and processes also impact how risks are managed.

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Trinidad

4 months ago

I agree, it's important to consider external factors like regulations and competition when assessing risks.

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Audry

4 months ago

I think C is the right choice too. The regulatory and competitive environment definitely play a role in risk management.

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Paz

5 months ago

I agree with you, Glory. The regulatory and competitive environment definitely play a crucial role in risk management.

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Bea

5 months ago

D is the way to go! The method of determining the risk level is crucial for effective risk management.

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Denna

4 months ago

True, the external context includes the regulatory and competitive environment as well.

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Melynda

4 months ago

But don't forget about the organizational culture and objectives, they play a big role too.

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Vilma

5 months ago

I agree, determining the risk level is key in risk management.

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Yuette

5 months ago

B sounds right to me. The organizational culture, objectives, and processes are all part of the internal context for risk management.

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Stefania

4 months ago

I see your point, but I still think C is the best choice. The regulatory and competitive environment play a significant role in risk management.

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Lashon

4 months ago

I'm not sure, but D could also be part of the external context. The method of determining the risk level could be influenced by external factors.

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Reuben

5 months ago

I agree with you. C seems to be the most relevant option in this case.

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Hubert

5 months ago

I think C is the correct answer. The regulatory and competitive environment are part of the external context for risk management.

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Teri

5 months ago

I think C is the correct answer. The external context includes the regulatory and competitive environment, which can significantly impact risk management.

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Jaime

5 months ago

Yes, C is the right choice. It's important to consider the external factors like regulations and competition when managing risks.

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Tom

5 months ago

I agree, C is the correct answer. The regulatory and competitive environment are key factors in the external context for risk management.

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Glory

5 months ago

I think the external context for risk management includes the regulatory and competitive environment.

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