Which of the following statement is TRUE? An organisation's risk appetite is: a. the same as the shareholders of the company. b. the same for all different types of risks. c. expressed in writing and approved by the Board. d. the same as the Chief Executive Officer's personal appetite.

An organisation's appetite for risk, as expressed by risk level ratings, is the same for all risks because of the way the risk criteria is designed. Select one: True False

The level of risk appetite depends on what factor?a. Appetite for profitb. Appetite for rewardc. Appetite for changed. Appetite for success

The Risk Appetite Statement is a formal written document, approved by Internal Audit, that should be informed by the organisation's risk capacity

Which one of the following statements is TRUE. Strategic risk is: Select one: a. undesirable and an organisation should avoid the risk b. not referred to in AS ISO 31000 c. a less significant source of value destruction than operational risks d. the risk of choosing a bad strategy and the risk of badly executing the chosen strategy

Which of the following statements about the ‘What is Risk?’ section of the lecture material based on the diagram below are TRUE:A risk-averse individual would always prefer A to B because they both offer the same expected reward while B has a higher level of risk than A.A risk-averse individual would always prefer A to C because A has a significantly lower level of risk than C.Question 2AnswerNeither of the statements are true (both are false)Only statement 1 is trueOnly statement 2 is trueBoth statements are true (neither are false)