Carol has worked as a payroll clerk for a small organization for 20 years. Over the years, she became extremely frustrated with the company, as she only received only two small salary increases during this time span. As a result, she began to embezzle funds from the company since she felt she was not adequately compensated for her job efforts. In terms of the quadrants of risk, Carol’s actions can be classified as:

You are the risk consultant hired by a firm to facilitate a workshop. You are questioning the leaders of each company department, key employees in those departments, and external stakeholders (such as key suppliers, key customers) to understand the most pressing issues the company faces from each of their unique perspectives.  What step of the Risk Management process are you engaging in? 

Below is a Risk Register that was completed by the Risk Manager of Playful Pine – a manufacturer of small wooden toys based in San Francisco, CA.   What Quadrant of Risk does Risk #4 fall under? = [risk1]   Which is the correct Risk Map for the Risk Register provided above for Bubba Burger Inc? = [riskmap] Risk Map #1:  Risk Map #2: Risk Map #3: Risk Map #4:

Due to the rising price of a barrel of oil based on the Global Crude Oil Index (GCX), Speedway Stores must increase the price of a gallon of gasoline by 10% at all of its gas stations across the country. According to the quadrants of risk, what type of risk does this represent for Speedway Stores?

Expected Value is also known as a measure of:

Jerry is a recent graduate from the University of South Florida, where he double majored in Risk Management and Insurance & Entrepreneurship. Jerry is completing the Risk Management Process for his new business. Which step in the risk management process should Jerry be most concerned with?

Consider a scenario where the probability of Loss A is equal to 100% and the probability of Loss B is equal to 50%. Which scenario faces more risk?

Several years ago, Jeff Bezos announced that he would be retiring as the CEO of Amazon. As a result of Bezo’s sudden announcement: 1) There was a delay in releasing several new Amazon products (which were expected to generate significant revenues for the company) becauseexecutive approvals could not be made 2) Amazon has now started a costly search process for an adequate replacement for such an important position (CEO) of the company   What type of risk does this pose for the corporation Amazon? 

Risk manager Christine is analyzing the risks faced by her company, Clear Sky Technology. After quickly identifying the key risks that she believes poses the most significant threat to Clear Sky; she then assigned a rating based on the likelihood and consequences of the various risks. The four ranges of rating she used are: Low, Medium-Low, Medium-High, and High.  The process that Christine engaged in above is most closely aligned to what ?

Cheesy Brothers is a company based in Sheboygan, WI that manufactures cheese sticks. The COO has studied the historical performance of the firm, in terms of: how many cheese sticks does the manufacturing plant produce per day. The COO looked at 3 years of historical data, and was able to calculate the following:  The expected number of cheese sticks produced per day = 25,000 sticks The variance of number of cheese sticks produced per day = 2,560,000 sticks squared The standard deviation of number of cheese sticks produced per day = 1,600 sticks  Based on the vast amount of historical information used by the COO to calculate the above data > we can assume that the above data is “normalized” > meaning it follows a Normal Distribution. And based on the above information, the COO has created a Normal Distribution (or “Bell Curve”) diagram for the number of cheese sticks produced per day.   Use the above information to answer the following two questions:  1) If a customer ordered 25,000 cheese sticks for a same day delivery > what is the probability that Cheesy Brothers could fulfill that order? = [answer1] 2) Using the “Empirical Rule” what is the probability that on a given day, the number of cheese sticks produced will be between 23,401 and 26,599? = [answer2] 3) Using the “Empirical Rule” what is the probability that on a given day, the company will produce 23,400 cheese sticks or more? = [answer3]