[Oct 29, 2023] Today Updated CBCP-002 Exam Dumps Actual Questions
CBCP-002 exam dumps with real GAQM questions and answers
NEW QUESTION # 18
Risk ownership must be clearly set out, documented and agreed with the individual owners at all levels of the operational risk management process.
- A. False
- B. True
Answer: B
Explanation:
Explanation
Risk ownership must be clearly set out, documented and agreed with the individual owners at all levels of the operational risk management process. This is true because risk ownership is oneof the key principles of business continuity management. Risk ownership means that each risk has a designated person who is responsible and accountable for its identification, assessment, treatment, monitoring, and reporting. Risk owners should have the authority and resources to manage their risks effectively and efficiently. Verified References:
https://www.iso.org/publication/PUB100442.htmlhttps://www.thebci.org/training-qualifications/good-practice-g
NEW QUESTION # 19
Which type of risk is related to human error or achievement?
- A. Operational
- B. Technical
- C. Strategic
- D. Commercial
Answer: A
Explanation:
Explanation
Operational risk is the type of risk that is related to human error or achievement. Operational risk is the uncertainty or variability of the execution or outcome of an organization's functions or processes. Operational risk can result from factors such as inadequate policies, procedures, systems, controls, skills, training, supervision, or compliance. Operational risk can affect an organization's operational efficiency, quality, safety, security, reputation, or profitability. Verified References:
https://www.investopedia.com/terms/o/operational_risk.asphttps://www.thebci.org/training-qualifications/good-p
NEW QUESTION # 20
Which type of risk occurs due to volatile environments in which businesses operate and the nature of their operations?
- A. Quality Risk
- B. Project Risk
- C. Auditing Risk
- D. Business Risk
Answer: D
Explanation:
Explanation
Business risk is the risk of loss or damage to an organization's performance, reputation, assets, or stakeholders due to internal or external factors that affect its ability to achieve its objectives. Business risk can arise from various sources, such as market conditions, customer preferences, competition, technology, regulation, compliance, operations, finance, human resources, or natural disasters. Business risk can have a direct or indirect impact on an organization's profitability, growth, sustainability, or continuity. Verified References:
https://www.investopedia.com/terms/b/businessrisk.asphttps://www.thebci.org/training-qualifications/good-pract
NEW QUESTION # 21
There are several reasons why a company would develop and implement a business continuity plan. Which of the following properly describes the best reason?
- A. The continuation of a company
- B. Properly react to disasters
- C. To increase liability
- D. Compliance with regulations
Answer: A
Explanation:
Explanation
The primary reason for developing and implementing a business continuity plan is to ensure the continuation of a company's critical functions and processes in the face of a disruption that may otherwise cause severe losses or damage to the company's reputation, assets, customers,or stakeholders. A business continuity plan can help a company to resume operations as quickly as possible after a disruption, minimize the impact on its performance and profitability, protect its brand and image, and fulfill its legal and contractual obligations.
Verified References:
https://www.ready.gov/business-continuity-planhttps://drii.org/resources/professionalpractices/EN
NEW QUESTION # 22
Which statement is authorized at an appropriate level and should codify the company's attitude to a particular risk?
- A. Process Document
- B. QMS Document
- C. Privacy Statement
- D. Policy Statement
Answer: D
Explanation:
Explanation
A policy statement is a statement that is authorized at an appropriate level and should codify the company's attitude to a particular risk. A policy statement is a document that defines the scope, objectives, principles, roles, and responsibilities of a business continuity management program. It should also express the organization's commitment to managing risks and ensuring continuity of its critical functions and processes. A policy statement should be approved by senior management and communicated to all relevant stakeholders.
Verified References:
https://www.iso.org/publication/PUB100442.htmlhttps://phoenixnap.com/blog/what-is-business-continuity-mana
NEW QUESTION # 23
In the event of a disaster that destroys the physical office site operations will be relocated to a temporary site.
- A. False
- B. True
Answer: B
Explanation:
Explanation
In the event of a disaster that destroys the physical office site operations will be relocated to a temporary site.
This is true because one of the recovery strategies for a disaster is to have an alternate site where the critical functions and processes can be resumed until the primary site is restored or replaced. The alternate site can be a pre-arranged location, such as a rented office space, a hotel, or another branch of the same organization, or a mobile facility, such as a trailer or a container. The alternate site should have the necessary equipment, systems, data, and resources to support the continuity of the business. Verified References:
https://www.ready.gov/business-continuity-planhttps://www.csoonline.com/article/515730/business-continuity-a
NEW QUESTION # 24
Individual accountability for the management of the risk should be clearly established.
- A. False
- B. True
Answer: B
Explanation:
Explanation
Individual accountability for the management of the risk should be clearly established. This is true because accountability is one of the key principles of business continuity management. Accountability means that each person involved in the business continuity management program has a clear understanding of their roles and responsibilities, as well as the authorityand resources to perform them. Accountability also means that each person is held responsible for their actions and outcomes, and that they report on their performance and progress regularly. Verified References:
https://www.iso.org/publication/PUB100442.htmlhttps://phoenixnap.com/blog/what-is-business-continuity-mana
NEW QUESTION # 25
A disaster can also be declared for an illness pandemic where a significant portion of employees are sick.
- A. False
- B. True
Answer: B
Explanation:
Explanation
A disaster can also be declared for an illness pandemic where a significant portion of employees are sick. This is true because an illness pandemic is a type of natural disaster that can affect an organization's ability to continue its normal operations. An illness pandemic can cause absenteeism, reduced productivity, increased costs, supply chain disruptions, customer dissatisfaction, or regulatory compliance issues. Therefore, an organization may need to declare a disaster and activate its business continuity and disaster recovery plan if an illness pandemic impacts its critical functions and processes beyond an acceptable level. Verified References:
https://www.ready.gov/business-continuity-planhttps://www.csoonline.com/article/515730/business-continuity-a
NEW QUESTION # 26
What is the frequency of BCP testing for critical processes?
- A. Half-yearly
- B. Annually
- C. Quarterly
- D. As per calendar planned at beginning of the year
Answer: A
Explanation:
Explanation
BCP testing is the process of verifying the effectiveness of a business continuity plan and ensuring that it meets the business objectives and requirements. BCP testing should be conducted regularly to identify any gaps or weaknesses in the plan and to update it accordingly1. While the number of tests to be conducted depends on the industry background, size and complexity, available resources, and BCP maturity levels, it is recommended that the tests are conducted twice a year for critical processes but at least minimum once a year1.
NEW QUESTION # 27
Which of the following can threats be considered? (Choose three)
- A. Technology failure
- B. Fire
- C. Operational failure
- D. Water
- E. Supply chain failure
Answer: A,B,D
Explanation:
Explanation
Threats can be considered any events or situations that can cause harm or disruption to an organization's functions or processes. Threats can be natural, human-made, or technological in origin. Some examples of threats are water (such as floods, leaks, or spills), technology failure (such as system crashes, cyberattacks, or power outages), and fire (such as arson, accidents, or explosions). Verified References:
https://www.iso.org/publication/PUB100442.htmlhttps://phoenixnap.com/blog/what-is-business-continuity-mana
NEW QUESTION # 28
Tolerating risk is where no action is taken to mitigate or reduce a risk.
- A. False
- B. True
Answer: B
Explanation:
Explanation
Tolerating risk is where no action is taken to mitigate or reduce a risk. This is true because tolerating risk is one of the possible strategies for managing risk. Tolerating risk means accepting or retaining a risk without taking any further action to reduce it, either because the risk level is acceptable or because the cost or effort of reducing it is not justified. Tolerating risk may be appropriate for low-priority or low-impact risks that do not pose a significant threat to the organization's objectives. Verified References:
https://www.investopedia.com/terms/t/the-four-ts.asphttps://www.thebci.org/training-qualifications/good-practic
NEW QUESTION # 29
A consultant is a person who borrows your watch to tell you the time, charges you for doingso and then sells you back your watch.
- A. True
- B. False
Answer: B
Explanation:
Explanation
A consultant is a person who borrows your watch to tell you the time, charges you for doing so and then sells you back your watch. This is false because it is a cynical and unfair description of a consultant's role and value. A consultant is a person who provides professional or expert advice in a specific field or domain. A consultant can help an organization to identify problems, analyze situations, develop solutions, implement changes, improve performance, or achieve goals. A consultant can also provide knowledge, skills, tools, or resources that the organization may not have or need temporarily. Verified References:
https://www.investopedia.com/terms/c/consultant.asphttps://phoenixnap.com/blog/what-is-business-continuity-m
NEW QUESTION # 30
Which type of risks result from business decisions that are influenced by changes in markets, liquidity changes and credit risks?
- A. Operational
- B. Financial
- C. Technical
- D. Strategic
Answer: B
Explanation:
Explanation
Financial risks are the risks that result from business decisions that are influenced by changes in markets, liquidity, and credit. Financial risks are the uncertainties or variabilities of the financial performance or position of an organization due to factors such as interest rates, exchange rates, inflation, credit ratings, debt levels, or cash flows. Financial risks can affect an organization's profitability, solvency, liquidity, or valuation.
Verified References:
https://www.investopedia.com/terms/f/financialrisk.asphttps://www.thebci.org/training-qualifications/good-pract
NEW QUESTION # 31
Which type of management is an often used term, but has so many different connotations to different people that invariably the message of its meaning gets confused?
- A. Operational
- B. Functional
- C. Strategic
- D. Technical
Answer: C
Explanation:
Explanation
Strategic management is the type of management that is an often used term, but has so many different connotations to different people that invariably the message of its meaning gets confused. Strategic management is the process of defining and executing the long-term vision, goals, plans, and actions of an organization. Strategic management involves analyzing the internal and external environment, formulating strategies, implementing them, and evaluating their outcomes. Strategic management can be complex and challenging, as it requires alignment and integration of various aspects of the organization, such as culture, structure, resources, capabilities, stakeholders, markets, competitors, or regulations. Verified References:
https://www.investopedia.com/terms/s/strategic-management.asp
https://phoenixnap.com/blog/what-is-business-continuity-management
NEW QUESTION # 32
Which control mechanism is the process by which an organization reduces the likelihood of a risk event occurring or mitigates the effects should it occur?
- A. Risk avoidance
- B. Risk variation
- C. Risk control
- D. Risk collision
Answer: C
Explanation:
Explanation
Risk control is the control mechanism that is the process by which an organization reduces the likelihood of a risk event occurring or mitigates the effects should it occur. Risk control is the process of implementing measures or actions to modify or influence the risk level of an organization. Risk control can involve various strategies, such as avoidance, reduction, transfer, sharing, retention, or acceptance. Risk control can help to improve the organization's resilience and performance. Verified References:
https://www.investopedia.com/terms/r/risk-control.asphttps://www.thebci.org/training-qualifications/good-practi
NEW QUESTION # 33
BIA helps you identify
- A. All of the above
- B. Critical interdependencies and interested parties
- C. Critical services and products
- D. Tangible and intangible impact of a disruption over period of time
Answer: A
Explanation:
Explanation
BIA helps to identify all of the above aspects of an organization's functions and processes. It helps to identify the critical services and products that the organization delivers to its customers and stakeholders, and the functions and processes that support them. It also helps to identify the critical interdependencies and interested parties that are involved in or affected by the organization's functions and processes, such as suppliers, partners, regulators, or employees. Moreover, it helps to identify the tangible and intangible impacts of a disruption tothe organization's functions and processes over a period of time, such as financial losses, reputational damage, legal liabilities, or customer dissatisfaction. Verified References:
https://www.ready.gov/business-impact-analysishttps://drii.org/resources/professionalpractices/EN
NEW QUESTION # 34
......
Exam Sure Pass GAQM Certification with CBCP-002 exam questions: https://www.pass4guide.com/CBCP-002-exam-guide-torrent.html
CBCP-002 Exam in First Attempt Guaranteed: https://drive.google.com/open?id=1_dwWpiakqReyyiNPm4wltLrLbFwtCQvw