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Exam 2016-FRR Topic 1 Question 306 Discussion

Actual exam question for GARP's 2016-FRR exam
Question #: 306
Topic #: 1
Which one of the four following statements regarding minimum loss data standards is not correct?

Suggested Answer: C Vote an answer

* Option A: The loss data entry must include the actual loss amount.
* Correct as it ensures accurate financial impact recording.
* Option B: The loss data program must comprehensively capture all material activities.
* Correct, necessary for a thorough risk management program.
* Option C: The loss data entry should only include the date when the event was reported.
* Incorrect, as it is essential to capture both the event date and the report date to understand the timeline of the incident.
* Option D: The loss data entry may include descriptive information about the drivers or causes of the loss event.
* Correct, as it provides context and insights into the root causes, aiding in risk analysis and prevention.

by Wade at Mar 24, 2025, 12:34 AM

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Here are all the actual test exam dumps for IT exams. Most people prepare for the actual exams with our test dumps to pass their exams. So it's critical to choose and actual test pdf to succeed.

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