{"id":5859,"date":"2020-09-09T22:40:10","date_gmt":"2020-09-09T12:40:10","guid":{"rendered":"https:\/\/casestudyhelp.com\/sample-questions\/?p=5859"},"modified":"2020-09-09T22:51:03","modified_gmt":"2020-09-09T12:51:03","slug":"fnsrsk502-assess-risks-assessment-guide-with-question-and-answers","status":"publish","type":"post","link":"https:\/\/casestudyhelp.com\/sample-questions\/fnsrsk502-assess-risks-assessment-guide-with-question-and-answers\/","title":{"rendered":"FNSRSK502 Assess Risks Assessment Guide with Question and Answers"},"content":{"rendered":"<h2><strong>FNSRSK502 Assess Risks Assessment Guide<\/strong><\/h2>\n<blockquote>\n<p style=\"text-align: justify;\">Are you looking for FNSRSK502 Assess Risks Assessment Guide with Question and Answers? Avail best quality of FNSRSK502 &#8211; Assess Risks <a title=\"Assignment Answers\" href=\"https:\/\/casestudyhelp.com\/sample-questions\/\" target=\"_blank\"><strong>Assignment Answers<\/strong><\/a> and Homework writing services from best online tutors. Casestudyhelp.com offer <a title=\"Dissertation Writing Help\" href=\"https:\/\/casestudyhelp.com\/dissertation-help\/\" target=\"_blank\"><strong>Dissertation Writing Help<\/strong><\/a>, <a title=\"Essay Writing Guide\" href=\"https:\/\/casestudyhelp.com\/essay-writing-guide.html\" target=\"_blank\"><strong>Essay Writing Guide<\/strong><\/a> and <a title=\"Research Paper Writing Guide\" href=\"https:\/\/casestudyhelp.com\/research-paper-writing-guide.html\" target=\"_blank\"><strong>Research Paper Writing Guide<\/strong><\/a> for College &amp; University Students in the USA, UK and Australia at affordable price.<\/p>\n<\/blockquote>\n<p style=\"text-align: center;\"><a title=\"Order Now!\" href=\"https:\/\/casestudyhelp.com\/MyOrder.php\" target=\"_blank\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-5621\" src=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2020\/05\/Order-now-1.png\" alt=\"Order-now\" width=\"552\" height=\"87\" srcset=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2020\/05\/Order-now-1.png 552w, https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2020\/05\/Order-now-1-300x47.png 300w\" sizes=\"(max-width: 552px) 100vw, 552px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><strong>FNSRSK502 Assess Risks Assessment Details:<\/strong><\/p>\n<ul>\n<li>Of Words: 3000<\/li>\n<li>Citation\/Referencing Style: TAFE Australia<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><\/p>\n<h3><strong>Project<\/strong><\/h3>\n<p style=\"text-align: justify;\">This activity is comprised of a number of written questions and tasks where you will be required to demonstrate essential knowledge required to effectively assess risks.<\/p>\n<p><strong>Instructions<\/strong><\/p>\n<p>You will need to research information to assist with your responses for these tasks.<\/p>\n<p><strong>What you will need to complete this task<\/strong><\/p>\n<ul>\n<li>Research materials such as books, internet, magazines, workplace documentation etc.<\/li>\n<li>Access to legislative and regulatory documentation relevant to own state or territory.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">You should use a variety of sources to gather information including training resources, workplace policies and procedures (if you are able to access these) and government and industry bodies.<\/p>\n<p style=\"text-align: justify;\">You are required to provide information about the following points. You must prepare a written response to each point and also complete the tasks, which can be supported by example documentation as required. Ensure material is referenced appropriately.<\/p>\n<blockquote>\n<p style=\"text-align: center;\"><strong>Also Read: <a title=\"FIN 201 Principles of Business\" href=\"https:\/\/casestudyhelp.com\/sample-questions\/fin-201-principles-of-business-finance-assignment-answers\/\" target=\"_blank\">FIN 201 Principles of Business<\/a><\/strong><\/p>\n<\/blockquote>\n<p><strong>Suggested Word limit<\/strong><\/p>\n<p>To complete this activity, you are required to submit written responses for each question of<\/p>\n<table style=\"height: 130px;\" width=\"759\">\n<tbody>\n<tr>\n<td width=\"144\"><strong>Long Answer<\/strong><\/td>\n<td width=\"462\">8 typed lines = 100 words, or10 lines of handwritten text =\u00a0 of a A4 page or 1 A4 page for tasks as required.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ol>\n<li><strong>Australian Standards for Risk Management.<\/strong><\/li>\n<\/ol>\n<p style=\"text-align: justify;\">Develop a flier, appropriate to include in the induction package of a new employee, which identifies and explains the key features and the purpose of the Australian standards for risk management.<\/p>\n<p>&nbsp;<\/p>\n<ol start=\"2\">\n<li><strong>Residual Risk Levels and Risk Appetite Levels for the Industry.<\/strong><\/li>\n<\/ol>\n<p>Outline the information that would be required for someone to identify residual risk levels and to check the risk appetite levels for the industry.<\/p>\n<p>&nbsp;<\/p>\n<ol start=\"3\">\n<li><strong>Key Risk Management Terminology. <\/strong><\/li>\n<\/ol>\n<p>Develop a resource identifying and defining at least 15 of the key terms related to risk management.<\/p>\n<p>&nbsp;<\/p>\n<ol start=\"4\">\n<li><strong>Organisational Policy, Procedures and Operational Guidelines Relating to Risk Assessment.<\/strong><\/li>\n<\/ol>\n<p style=\"text-align: justify;\">Develop a resource that would be suitable to provide to new employees in your organisation which outlines the key policies, procedures and operational guidelines of the organisation, relating to risk assessment.<\/p>\n<h2 style=\"text-align: left;\"><strong>Third-Party Report Activity<\/strong><\/h2>\n<p style=\"text-align: justify;\">The following task must be conducted in in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the risk management field of work and include access to:<\/p>\n<ul>\n<li>Office equipment, technology, software and consumables.<\/li>\n<li>Relevant legislation, regulations and codes of practice.<\/li>\n<li>Relevant Australian standards relating to risk management.<\/li>\n<\/ul>\n<p>For this task you are to complete the following steps to develop risk evaluation criteria and conduct an effective analysis of financial and legislative risk situations.<\/p>\n<p>For this activity you will need to perform the criteria listed below in a workplace or simulated environment.<\/p>\n<p>Your supervisor or manager must complete the Third-Party Activity Checklist.<\/p>\n<p>You must submit the completed and signed checklist with your other assessment tasks.<\/p>\n<p>Complete the following steps to develop the risk evaluation criteria:<\/p>\n<ol>\n<li>Following the Australian risk management standards, research and identify the financial and legislative risks in the organisational processes and procedures.<\/li>\n<li>Develop the appropriate risk evaluation criteria, including any tolerance levels that apply to the risk.<\/li>\n<li>Identify the relevant stakeholders, both internal and external, and seek out their views on the risks and the evaluation criteria.<\/li>\n<\/ol>\n<p>Perform the following steps to assess the current exposure to the organisation:<\/p>\n<ol start=\"4\">\n<li>Identify the appropriate risk assessment tools, and apply them to establish the probability of risk.<\/li>\n<li>Identify and evaluate the potential severity and\/or impact or consequence of the risk for the organisation.<\/li>\n<li>Using evaluation criteria, identify the mitigating effect of any existing controls and assess the exposure to risk.<\/li>\n<li>At this stage of the process, liaise and communicate with the stakeholders to provide them with the relevant information, and obtain their input, as pertinent.<\/li>\n<\/ol>\n<p>Compare the exposure with the guidelines by completing the following:<\/p>\n<ol start=\"8\">\n<li>Research to identify the relevant guidelines for both the industry and the organisation, and compare the risk exposure levels with these guidelines<\/li>\n<li>Compare the identified exposure levels with industry and statutory obligations, identifying and reporting unacceptable residual risks.<\/li>\n<li>At this stage of the process, liaise and communicate with the stakeholders to provide them with the relevant information, and obtain their input, as appropriate.<\/li>\n<\/ol>\n<p>Perform the following steps to prepare a probability assessment:<\/p>\n<ol start=\"11\">\n<li>Using appropriate measurement criteria, analyse the specific issues.<\/li>\n<li>Prepare a risk map that, in consistent manner, ranks and summarises the threats and risk issues.<\/li>\n<li>Liaise and communicate with the stakeholders to provide them with the relevant information, and obtain their input.<\/li>\n<li>Develop recommendations to mitigate the financial and legislative risk situations.<\/li>\n<\/ol>\n<p>After you have completed the above steps, you will need to sit down with your assessor and discuss each of the following points as they relate to risk exposure:<\/p>\n<ol start=\"15\">\n<li>The key features and purpose of the Australian standards for risk management.<\/li>\n<li>The risk management principles and practices considered and applied throughout the task.<\/li>\n<li>Briefly outline the key policies and procedures of the organisation, as well as the operational guidelines relating to risk assessment.<\/li>\n<li>Explain the role of internal and external stakeholders relevant to risk.<\/li>\n<\/ol>\n<p>You will need to provide your assessor with each of the following documents at the completion of your practical activity:<\/p>\n<ul>\n<li>The risk evaluation criteria<\/li>\n<li>Feedback from stakeholders<\/li>\n<li>Risk management tools<\/li>\n<li>A comparison risk exposure levels to industry and statutory obligations<\/li>\n<li>An analysis of the specific issues<\/li>\n<li>Recommendations to mitigate the risks<\/li>\n<li>Risk map<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong>Short Answer Questions<\/strong><\/h2>\n<p><strong>Instructions<\/strong><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/casestudyhelp.com\/sample-questions\/\" title=\"Questions &amp; Answer Help\">Answer the questions<\/a> below by writing in the space provided. If you require more space, use a blank sheet of paper. Alternatively, you may like to use Microsoft Word and print out your answers to each question.<\/p>\n<p><strong>What you will need<\/strong><\/p>\n<ul>\n<li>Research materials such as books, internet, magazines, workplace documentation etc.<\/li>\n<li>Access to legislative and regulatory documentation<\/li>\n<li>Your Learner Guide for this unit of competence<\/li>\n<\/ul>\n<p><strong>Suggested Word limit<\/strong><\/p>\n<table width=\"545\">\n<tbody>\n<tr>\n<td width=\"129\"><strong>Short Answer Responses<\/strong><\/td>\n<td width=\"416\">4 typed lines = 50 words, or5 lines of handwritten text per question<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p>1.\u00a0 List 4 methods that could be used in the workplace to identify risks in organisational processes and procedures.<\/p>\n<table style=\"height: 109px;\" width=\"528\">\n<tbody>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>2.\u00a0 What will you need to do when you are setting out to select the most appropriate risk evaluation criteria?<\/p>\n<table style=\"height: 89px;\" width=\"529\">\n<tbody>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>3.\u00a0 What are risk tolerance levels?<\/p>\n<table style=\"height: 82px;\" width=\"529\">\n<tbody>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>4.\u00a0 What are 3 risk assessment tools that are appropriate to apply and use to establish probability of risk?<\/p>\n<table style=\"height: 89px;\" width=\"529\">\n<tbody>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>5.\u00a0 What types of analysis might you conduct to identify the potential severity and\/or impact or consequence of risk? List at least 4.<\/p>\n<table style=\"height: 83px;\" width=\"524\">\n<tbody>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>6.\u00a0 Explain the 4 mitigating effects that existing controls can have.<\/p>\n<table style=\"height: 95px;\" width=\"531\">\n<tbody>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>7.\u00a0 What information will you need to use to assess the exposure to risk?<\/p>\n<table style=\"height: 95px;\" width=\"532\">\n<tbody>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>8.\u00a0 What are 4 examples of industry relevant guidelines relating to risk exposure?<\/p>\n<table style=\"height: 96px;\" width=\"533\">\n<tbody>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>9.\u00a0 Identify the range of factors that organisational guidelines to risk exposure are commonly based on.<\/p>\n<table style=\"height: 103px;\" width=\"531\">\n<tbody>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>10.\u00a0 Briefly explain how to research and determine risk exposure levels in the financial services industry.<\/p>\n<table style=\"height: 103px;\" width=\"535\">\n<tbody>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>11.\u00a0 Why is it important to identify and report unacceptable residual risks?<\/p>\n<table style=\"height: 94px;\" width=\"537\">\n<tbody>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>12.\u00a0 What are the types of specific issues in the financial services area that may need to be analysed using measurement criteria? List at least 6.<\/p>\n<table style=\"height: 92px;\" width=\"534\">\n<tbody>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>13.\u00a0 Outline the range of measurement criteria that may apply to organisations within the financial services industry.<\/p>\n<table style=\"height: 95px;\" width=\"533\">\n<tbody>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>14.\u00a0 What is a risk map?<\/p>\n<table style=\"height: 97px;\" width=\"531\">\n<tbody>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>15.\u00a0 Why is it important for risk maps to rank and summarise threats and risk issues in consistent manner?<\/p>\n<table style=\"height: 95px;\" width=\"532\">\n<tbody>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>16.\u00a0 Briefly explain the role of stakeholders, both internal and external, relevant to risk.<\/p>\n<table style=\"height: 97px;\" width=\"533\">\n<tbody>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>17.\u00a0 What method should be used to seek out the views of internal and external stakeholders?<\/p>\n<table style=\"height: 97px;\" width=\"532\">\n<tbody>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>18.\u00a0 Why is it important to provide the stakeholders with information at each stage of the assessing of the organisation&#8217;s exposure to risks?<\/p>\n<table style=\"height: 95px;\" width=\"531\">\n<tbody>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>19.\u00a0 Outline the key principles and practices of risk management.<\/p>\n<table style=\"height: 94px;\" width=\"532\">\n<tbody>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<tr>\n<td width=\"544\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/casestudyhelp.com\/MyOrder.php\" target=\"_blank\"><strong>PLACE YOUR ORDER<\/strong><\/a><\/span><\/p>\n<script type=\"text\/javascript\" charset=\"utf-8\" src=\"http:\/\/w.sharethis.com\/widget\/?wp=6.2.9\"><\/script>","protected":false},"excerpt":{"rendered":"<p>FNSRSK502 Assess Risks Assessment Guide Are you looking for FNSRSK502 Assess Risks Assessment Guide with Question and Answers? 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