Risk Management & Quality Assurance Flashcards
7 cards from real COA 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 Management & Quality Assurance flashcards as text
Which of the following BEST describes a 'key risk indicator' (KRI)?
Answer: A measurable value that signals an increasing level of risk exposure
A KRI is a metric that provides early warning signals when risk levels are rising, allowing management to take proactive action.
The Plan-Do-Check-Act (PDCA) cycle is a quality improvement model that begins with:
Answer: Planning by identifying problems and designing solutions
The PDCA cycle starts with the Plan phase, where the problem is identified, data is gathered, and an improvement strategy is designed.
An office administrator implementing a clean desk policy as a risk control measure is primarily addressing which type of risk?
Answer: Information security and confidentiality risk
A clean desk policy reduces the risk of unauthorized access to sensitive documents or information left visible in a shared workspace.
Which quality management concept refers to meeting or exceeding customer expectations consistently over time?
Answer: Customer satisfaction and service quality
Consistently meeting or exceeding customer expectations is the core goal of service quality and customer satisfaction management.
When a risk has been identified but no immediate action is required, it is appropriate to:
Answer: Monitor it regularly and document it for future review
Low-priority risks that don't require immediate action should remain documented and monitored so they can be reassessed if conditions change.
Six Sigma is a quality methodology that aims to reduce process defects to:
Answer: 3.4 defects per million opportunities
Six Sigma targets no more than 3.4 defects per million opportunities, representing near-perfect process performance.
In risk management, 'risk appetite' refers to:
Answer: The amount and type of risk an organization is willing to accept in pursuit of its objectives
Risk appetite defines the level of risk an organization is prepared to accept or tolerate while pursuing its goals, guiding decision-making at all levels.