IIA Exam IIA-CHAL-QISA Topic 2 Question 10 Discussion

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

Question #: 10
Topic #: 2

[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 Nettie at Aug 22, 2024, 02:33 PM

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Colton

7 months ago

I think the risk treatment method based on risk evaluation is part of the external context as well.

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You know, I heard the exam committee likes to throw in some real curveballs, but this one's a no-brainer. C is the way to go - the regulatory and competitive environment is the external context we're looking for here.

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Launa

7 months ago

I believe it also includes organizational culture, objectives, and processes.

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Portia

7 months ago

Haha, risk treatment method based on risk evaluation? What is this, a trick question? Clearly, the external context is the regulatory and competitive environment. C is the way to go, my friends.

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Peter

7 months ago

I see your point, but I still think C is the best choice. The regulatory and competitive environment have a significant influence on risk management.

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Fidelia

7 months ago

I'm not so sure, I think B could also be part of the external context. Organizational culture, objectives, and processes can also impact risk management.

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Audra

7 months ago

Yeah, I think you're right. It makes sense that external factors like regulations and competition would play a role in risk management.

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Valentin

7 months ago

I agree, C is the correct answer. The regulatory and competitive environment is definitely part of the external context for risk management.

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Teri

8 months ago

I agree with Lashawn, the external context definitely involves the regulatory and competitive environment.

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Raina

8 months ago

B seems a bit too generic, don't you think? The external context should be something more specific, like C - the regulatory and competitive environment.

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Myra

7 months ago

Yes, C is definitely more relevant to the external context for risk management.

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Raina

7 months ago

I agree, B does seem generic. C - the regulatory and competitive environment, is more specific.

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Chantell

8 months ago

The regulatory and competitive environment? Duh, that's like the first thing you learn in Risk Management 101. C is the obvious choice here.

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Caprice

8 months ago

Yeah, the regulatory and competitive environment plays a huge role in determining the risks a company faces. It's crucial to consider it in the risk management process.

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Hildegarde

8 months ago

I agree, C is definitely the correct choice. It's all about understanding the external factors that can impact risk management.

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Lashawn

8 months ago

I think the external context includes the regulatory and competitive environment.

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IIA Exam IIA-CHAL-QISA Topic 2 Question 10 Discussion

Contribute your Thoughts:

Colton

Gayla

Launa

Portia

Peter

Fidelia

Audra

Valentin

Teri

Raina

Myra

Raina

Chantell

Caprice

Hildegarde

Lashawn