CPHRM CPHRM Enterprise Risk Management 3

Question 1

Which of the following is a primary benefit of integrating ERM with a healthcare organization's strategic planning process?

Accepted Answer

It ensures risk considerations are embedded in decision-making from the start

Answer

It eliminates the need for malpractice insurance

Answer

It transfers all risk to the governing board

Answer

It removes the need for department-level risk assessments

Question 2

A healthcare organization's ERM committee wants to assess its 'risk culture.' Which indicator best reflects a strong risk culture?

Accepted Answer

Staff freely report near misses without fear of punishment

Answer

The organization has never had a liability claim

Answer

Risk discussions are limited to the finance department

Answer

All risk mitigation costs are below budget

Question 3

Which of the following risk categories is unique to healthcare and typically addressed within a hospital's ERM framework?

Accepted Answer

Clinical/patient care risk

Answer

Supply chain disruption risk

Answer

Foreign exchange risk

Answer

Intellectual property risk

Question 4

When conducting an ERM risk assessment, 'inherent risk' is best defined as:

Accepted Answer

Risk present before any controls or mitigation are in place

Answer

Risk after all controls are applied

Answer

Risk accepted by the board of directors

Answer

Risk that can never be fully eliminated

Question 5

Which role is typically responsible for day-to-day ERM program coordination in a large US health system?

Accepted Answer

Chief Risk Officer or VP of Risk Management

Answer

Chief Executive Officer

Answer

Chief of Medical Staff

Answer

Director of Patient Access

Question 6

A hospital implements a new ERM software platform. Which outcome would best indicate the platform is delivering value?

Accepted Answer

Leadership has real-time visibility into the organization's top risks and mitigation status

Answer

The number of incident reports decreases significantly

Answer

The risk manager spends less time in meetings

Answer

Insurance premiums drop immediately after implementation