NAB Risk Assessment & Mitigation 2 — Questions and Answers
Question 1: A broadcast facility's risk register should primarily document which of the following?
- Only financial risks above a set dollar threshold
- Identified risks, their likelihood, potential impact, and assigned owners (Correct answer)
- Risks that have already occurred and been resolved
- Equipment maintenance schedules and vendor contacts
Correct answer: Identified risks, their likelihood, potential impact, and assigned owners
A risk register captures identified risks along with their probability, impact severity, and the individuals responsible for managing each risk.
Question 2: Which qualitative risk analysis technique uses a grid to plot risks by probability and impact to prioritize response efforts?
- Fault tree analysis
- Probability-impact matrix (Correct answer)
- Monte Carlo simulation
- SWOT analysis
Correct answer: Probability-impact matrix
A probability-impact matrix visually categorizes risks into high, medium, and low priority zones based on their likelihood and potential consequences.
Question 3: When a broadcast station transfers the financial consequence of a risk to an insurance company, this strategy is best described as:
- Risk avoidance
- Risk acceptance
- Risk transfer (Correct answer)
- Risk reduction
Correct answer: Risk transfer
Risk transfer shifts the financial burden of a risk to a third party, such as an insurer, without eliminating the underlying threat.
Question 4: A television station decides not to broadcast live from flood-prone areas during severe weather season. This is an example of which risk response strategy?
- Risk mitigation
- Risk avoidance (Correct answer)
- Risk acceptance
- Risk sharing
Correct answer: Risk avoidance
Risk avoidance involves changing plans or operations to eliminate the threat entirely rather than managing its effects.
Question 5: Residual risk is best defined as:
- Risk that has been fully eliminated through controls
- The risk that remains after risk response measures have been implemented (Correct answer)
- Risks identified after a project has been completed
- Secondary risks created by implementing a risk response
Correct answer: The risk that remains after risk response measures have been implemented
Residual risk is the level of risk that persists even after controls and mitigation measures have been applied.
Question 6: During a studio renovation, management decides to accept the risk of minor schedule delays without implementing any specific controls. This approach is known as:
- Passive risk acceptance (Correct answer)
- Active risk exploitation
- Risk escalation
- Risk transference
Correct answer: Passive risk acceptance
Passive risk acceptance acknowledges a risk and consciously decides to take no action, allowing the risk to occur if it materializes.
Question 7: Which of the following best describes a secondary risk in broadcast operations?
- A risk identified after the project closes
- A new risk that arises as a direct result of implementing a risk response (Correct answer)
- A risk with a secondary impact on non-critical systems
- Any risk rated low on the probability-impact matrix
Correct answer: A new risk that arises as a direct result of implementing a risk response
Secondary risks are unintended consequences introduced by the actions taken to address a primary risk.
NAB Risk Assessment & Mitigation 2
A broadcast facility's risk register should primarily document which of the following?