Risk Assessment & Management Flashcards
7 cards from real NES 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 Assessment & Management flashcards as text
A district safety coordinator conducts a hazard inspection and creates a list of potential dangers found in each school building. This activity represents which stage of risk management?
Answer: Risk identification
Risk identification is the process of finding and cataloging potential hazards or threats before any analysis or response occurs.
Which of the following is an example of risk mitigation rather than risk avoidance?
Answer: Installing safety eyewear requirements for lab students
Mitigation reduces the likelihood or impact of a risk without eliminating the activity, such as requiring protective equipment during labs.
When evaluating risk controls, the concept of 'cost-benefit analysis' is applied to determine:
Answer: Whether the cost of a control is justified by the reduction in expected loss
Cost-benefit analysis compares the expense of implementing a risk control against the expected reduction in loss to assess whether the control is worthwhile.
A school district's business continuity plan (BCP) is designed to:
Answer: Ensure critical operations continue during and after a disruptive event
A business continuity plan outlines procedures to maintain essential functions and recover quickly when disruptions such as disasters or system failures occur.
Which of the following best describes 'risk tolerance' in an organizational context?
Answer: The acceptable variation in outcomes relative to the organization's risk appetite
Risk tolerance defines the acceptable level of deviation from the risk appetite—essentially, how much variance in outcomes leadership is willing to accept.
During a post-incident review following a school security breach, the team focuses on lessons learned and process improvements. This activity belongs to which phase of risk management?
Answer: Risk monitoring and review
Monitoring and review involves evaluating the effectiveness of risk responses after events and continuously improving the risk management process.
A district chooses to join a risk-sharing pool with other school districts to collectively cover large liability claims. This strategy is an example of:
Answer: Risk pooling or risk sharing
Risk pooling spreads the financial impact of losses across multiple organizations so no single entity bears the full burden of a large claim.