Identify each statement as TRUE or FALSE:

Question $1$:

Leading indicators measure the effective implementation of controls that manage risks.

Question $2$:

With effective controls in place, as measured by the leading indicators, risks are managed and a loss incident is avoided.

Question $3$:

In contrast, when controls are not effective, as measured by the leading indicators, risks are not managed to an acceptable level, and a loss incident can occur.

Question $4$:

By measuring leading indicators, the $$early signals$$ of deficiencies or inadequacies in the risk management program can be detected, and action can be taken to correct, and restore the risk levels to an acceptable level before a loss incident occurs.