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Exam 2016-FRR Topic 1 Question 170 Discussion

Actual exam question for GARP's 2016-FRR exam
Question #: 170
Topic #: 1
The main building blocks of an operational risk framework include all of the following options EXCEPT:

Suggested Answer: C Vote an answer

The main building blocks of an operational risk framework typically include:
* Loss data collection: Gathering historical loss data to understand past incidents and their impact.
* Risk and control self-assessment (RCSA): Assessing and documenting the risks and controls within the organization.
* Scenario analysis: Developing and analyzing potential future risk scenarios to understand their impact.
Compliance document preparation, while important for regulatory compliance, is not considered a core building block of an operational risk framework.

by Vera at Dec 07, 2024, 11:39 PM

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