CORES Process Mapping & Control Assessment 2

Question 1

When applying a SIPOC diagram to operational risk analysis, what does the 'S' component primarily help identify?

Accepted Answer

Suppliers whose failures could introduce input risk into a process

Answer

SIPOC's 'Suppliers' component reveals upstream dependency risks where third-party or internal provider failures propagate into the process.

Question 2

A swim lane diagram is most useful in operational risk process mapping because it explicitly shows:

Accepted Answer

Handoff points between departments where errors commonly occur

Answer

Swim lane diagrams visualize cross-functional handoffs, which are prime locations for miscommunication and operational errors.

Question 3

During a control assessment, a detective control is found to have a 30-day detection lag for fraud events. The BEST immediate response is to:

Accepted Answer

Implement a compensating preventive control to reduce exposure during the lag

Answer

A 30-day detection lag creates significant undetected exposure, so a preventive compensating control reduces the window of vulnerability.

Question 4

Which process mapping element is MOST critical for identifying single points of failure in an operational workflow?

Accepted Answer

Sequential dependency links between process steps

Answer

Sequential dependency links reveal which steps have no parallel path or bypass, exposing single points of failure that halt the entire process.

Question 5

A risk and control self-assessment (RCSA) workshop reveals that process owners routinely override a key authorization control. This pattern MOST likely indicates:

Accepted Answer

A control design deficiency that creates excessive friction in the process

Answer

Systematic overrides signal that the control is too burdensome relative to the process flow, indicating a design flaw that must be corrected.

(CORES) Certified Operational Risk Executive Specialist Practice Test

(CORES) Certified Operational Risk Executive Specialist Practice Test

CORES Process Mapping & Control Assessment 2