ERM Framework

Practice Questions

CPA Business Environment and Concepts (BEC) › ERM Framework

Questions
6
1

An entity successfully launching a profitable new product line represents:

2

A company owns and operates multiple businesses in the Caribbean. Management has identified interruptions in normal operations as a potential risk resulting from storm damage caused by hurricanes. Recognizing this, the company decides to treat the potential damage as part of its business model. The company's response to this potential risk is known as:

3

Governance and culture is a component of COSO's ERM framework. It is supported by all of the following principles except:

4

The core values of an entity most closely relate to its:

5

According to COSO's ERM framework, which of the following is an essential element of the governance and culture of an entity?

6

According to the COSO ERM framework, which of the following components would not belong to Review and Revision?

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