CORES Process Mapping & Control Assessment 3

Question 1

A control effectiveness rating of 'partially effective' in a RCSA means MOST specifically that:

Accepted Answer

The control mitigates some but not all of the targeted risk, leaving residual exposure

Answer

'Partially effective' means the control reduces but does not adequately cover the risk, requiring additional mitigation or risk acceptance.

Question 2

Which technique BEST captures the 'as-operated' version of a process when it differs significantly from documented procedures?

Accepted Answer

Conducting structured walkthroughs with employees who execute the process daily

Answer

Structured walkthroughs with frontline staff reveal actual execution patterns, workarounds, and deviations from documented procedures.

Question 3

In control design assessment, 'frequency of operation' is evaluated to determine whether:

Accepted Answer

The control operates often enough to detect or prevent risk within an acceptable timeframe

Answer

Frequency assessment ensures the control operates at intervals that match the speed at which the risk can materialize and cause harm.

Question 4

When a process map reveals that a high-risk step has no associated preventive control, the risk practitioner should FIRST:

Accepted Answer

Assess whether compensating detective or corrective controls provide sufficient coverage

Answer

Before escalation or shutdown, the practitioner evaluates whether existing detective or corrective controls together provide adequate compensating mitigation.

Question 5

The 'coverage ratio' in a control assessment context refers to:

Accepted Answer

The percentage of process steps that have at least one associated control

Answer

Coverage ratio measures what fraction of process steps are protected by at least one control, identifying unprotected gaps in the process.

(CORES) Certified Operational Risk Executive Specialist Practice Test

(CORES) Certified Operational Risk Executive Specialist Practice Test

CORES Process Mapping & Control Assessment 3