Question

    For identification and measurement of operational risk,

    how many loss events have been identified?
    A 8 Correct Answer Incorrect Answer
    B 7 Correct Answer Incorrect Answer
    C 12 Correct Answer Incorrect Answer
    D 10 Correct Answer Incorrect Answer
    E 15 Correct Answer Incorrect Answer

    Solution

    A definition for operational risk, including the loss event types that will be monitored. Promptly detecting and addressing these deficiencies can substantially reduce the potential frequency and/or severity of a loss event. There are 7 loss event type classification under operational risk in banks as follows:       i.        Internal Fraud      ii.        External fraud     iii.        Employment Practices and Workplace Safety    iv.        Clients, Products & Business Practices     v.        Damage to physical assets    vi.        Business disruption & system failures   vii.        Execution, Delivery & Process Management

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