RISK MANAGEMENT $202$

QUESTION ONE $[30]$

$1\mathrm{.}1.$ What are the different types of risks that businesses may face, and how do these risks differ in terms of their potential impact and likelihood? $(15)$

$1\mathrm{.}2.$ What are some common challenges that businesses face when implementing risk management plans, and how can they overcome these challenges? $(15)$

QUESTION TWO $[20]$

Explain in detail the COSO ERM framework and the various interrelated that it is made of$.$

QUESTION THREE $[30]$

$3\mathrm{.}1.$ Describe the evolution of ERM. $(15)$

$3\mathrm{.}2.$ Describe the key success factors in implementing Enterprise Risk Management. $(15)$

QUESTION FOUR $[20]$

$4\mathrm{.}1.$ Explain the concept of risk list and its importance in the risk identification stage of risk management. $(10)$

$4\mathrm{.}2.$ Differentiate between Physical and Ethical risks. $(10)$