D373 Marketing in the Digital Era - Set 1 - Part 1

Test your knowledge of technical writing concepts with these practice questions. Each question includes detailed explanations to help you understand the correct answers.

Question 1: A company is developing a business continuity plan for its overseas operations. What should the company prioritize in its risk management process?

Employee benefits

Political and regulatory risks

Marketing expenses

Production schedules

Question 2: What is enterprise risk management (ERM) primarily concerned with?

Minimizing all risks

Identifying, assessing, and managing risks

Ignoring external risks

Focusing only on internal risks

Question 3: Which of the following is an external risk factor in enterprise risk management?

IT system failure

Supply chain disruption

Employee turnover

Process inefficiency

Question 4: What is the primary goal of risk assessment in enterprise risk management?

Eliminate all risks

Identify potential risks and their impact

Ignore risks that do not affect profits

Focus on external risks only

Question 5: When performing risk analysis, which of the following should be considered?

Only internal risks

Internal and external risks

Short-term risks only

Only known risks

Question 6: What is a key component of a successful enterprise risk management (ERM) program?

Avoiding risks altogether

Implementing a comprehensive risk mitigation strategy

Minimizing costs

Ignoring external risks

Question 7: In the context of risk management, what is a “risk appetite”?

The amount of risk an organization is willing to accept

The amount of risk an organization wants to avoid

The cost of managing risk

The total number of risks identified

Question 8: Which type of risk is most likely to affect an organization’s operations and supply chain?

Operational risks

Regulatory risks

Financial risks

IT risks

Question 9: What is the main purpose of a risk register in enterprise risk management?

To list all known risks without prioritizing them

To document identified risks and track their management

To eliminate risks from the organization

To manage financial performance

Question 10: What is a common tool used in enterprise risk management to prioritize risks?

Risk matrix

Profit and loss statement

Marketing report

Financial audit

Question 11: Which risk management strategy involves transferring risk to a third party?

Risk avoidance

Risk mitigation

Risk transfer

Risk acceptance

Question 12: What is the primary goal of risk mitigation strategies in enterprise risk management?

Eliminate all risks

Reduce the impact of risks

Ignore low-level risks

Increase the number of identified risks

Question 13: How often should an organization’s risk management plan be reviewed and updated?

Every 5 years

Only when a crisis occurs

Periodically, depending on the risk environment

Annually, without exception

Question 14: What is the primary benefit of implementing an enterprise risk management (ERM) framework?

To reduce employee turnover

To increase profits

To provide a comprehensive approach to managing risks

To avoid regulatory compliance

Question 15: Which of the following is an example of a financial risk in enterprise risk management?

Market volatility

Supply chain disruptions

Employee dissatisfaction

IT system failures

Question 16: What is the role of a chief risk officer (CRO) in enterprise risk management?

To manage financial operations

To oversee and coordinate the organization’s risk management efforts

To supervise marketing campaigns

To manage IT systems

Question 17: How does scenario analysis help in risk management?

By providing a single risk outcome

By exploring different risk scenarios and their potential impacts

By avoiding risks

By focusing only on past risks

Question 18: Which of the following best defines a risk tolerance level?

The maximum risk an organization is willing to take

The total number of risks identified

The average amount of risk in the industry

The number of risks that occurred in the past year

Question 19: What is one way an organization can manage external risks?

Focus on internal controls

Conduct a PEST analysis to understand political, economic, social, and technological risks

Increase marketing efforts

Ignore risks that cannot be controlled

Question 20: In risk management, what is the difference between a threat and a vulnerability?

A threat is external, while a vulnerability is internal

A threat is internal, while a vulnerability is external

A threat is a weakness, while a vulnerability is an opportunity

There is no difference between the two

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