Risk Assessment & Mitigation Flashcards
7 cards from real CRM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Risk Assessment & Mitigation flashcards as text
Which risk indicator would MOST likely trigger a records manager to conduct an unscheduled risk reassessment?
Answer: A major merger, acquisition, or organizational restructuring
Major organizational changes such as mergers or restructuring significantly alter the records risk landscape and warrant an immediate reassessment.
A risk heat map is used in records management primarily to:
Answer: Visually prioritize risks by likelihood and impact
A risk heat map plots risks on a grid of probability versus impact, enabling managers to visually identify and prioritize the most critical risks.
Which of the following is an example of risk transfer in a records management context?
Answer: Purchasing cyber liability insurance to cover a data breach
Risk transfer shifts the financial consequences of a risk to a third party, such as an insurer, rather than eliminating the risk itself.
A records manager is evaluating the risk of a legacy records system becoming unsupported. This is classified as which type of risk?
Answer: Technological obsolescence risk
Technological obsolescence risk occurs when systems or media formats become outdated, threatening the accessibility and integrity of records over time.
When a risk assessment reveals a low-probability, low-impact risk, the MOST appropriate response is typically to:
Answer: Accept the risk and monitor it periodically
Low-probability, low-impact risks are generally accepted and placed on a watch list for periodic monitoring rather than requiring costly immediate action.
Which standard provides the most comprehensive international guidance on risk management that records managers should align with?
Answer: ISO 31000
ISO 31000 provides principles and guidelines for risk management applicable across all sectors and is widely used to structure records risk programs.
A records manager discovers employees are storing records on personal cloud accounts. Which risk does this PRIMARILY represent?
Answer: Data sovereignty and security risk
Personal cloud storage creates data sovereignty and security risks because organizational records are outside IT governance, encryption controls, and jurisdictional oversight.