Online Access Free 8020 Practice Test

In operational resilience, what is impact tolerance?

• A.Impact tolerance is a firm's tolerance for disruption to a particular business process.
• B.Impact tolerance is a firm's risk appetite statement.
• C.Impact tolerance is a firm's tolerance for disruption to a particular business service.
• D.Impact tolerance is a firm's risk capacity statement.

For the National Australia Bank - FX Options case study, large and unusual transaction activity was a concern for what reason?

• A.Deep-in-the-money options and other complex structured transactions aided in the smoothing of losses.
• B.Deep-in-the-money options aided in the smoothing of losses.
• C.Complex structured transactions aided in the smoothing of losses.
• D.Deep-in-the-money options and other complex structured transactions aided in the smoothing of profits and losses.

In operational resilience, what is impact tolerance?

• A.Impact tolerance is a firm's tolerance for disruption to a particular business process.
• B.Impact tolerance is a firm's risk appetite statement.
• C.Impact tolerance is a firm's tolerance for disruption to a particular business service.
• D.Impact tolerance is a firm's risk capacity statement.

Ideally, which of the following should be completed as part of the risk assessments of service providers?

• A.An assessment of a third party should include its compliance and risk infrastructure, financials, business strategy and operating history.
• B.An assessment of a third party should not include its compliance and risk infrastructure, financials, business strategy and operating history.
• C.Onsite visits are not advantageous for understanding the third party's risks and control environment.
• D.A review of the pay levels of the staff supporting the service.

In relation to the template for writing policy documents, which one of the following pairings of requirements is correct? A well designed policy will include:

• A.A list of acceptable fonts and margin types.
• B.A list of exceptions for the family of board members.
• C.To whom the policy applies to and how an additional management report should be allocated to.
• D.To whom and in what form exceptions should be sought and the general exemptions e.g. areas to which the policy does not apply