What is the repository for all identified risks?

Prepare for the ServiceNow Integrated Risk Management (IRM) Test. Utilize flashcards and multiple choice questions, each offering hints and explanations. Ensure your success on the exam!

Multiple Choice

What is the repository for all identified risks?

Explanation:
The central store for risks that have been identified is the risk register. This is the single place where every identified risk is documented with details such as description, owner, likelihood, impact, controls, and mitigation actions, enabling consistent assessment, prioritization, and monitoring over time. Other options describe things that aren’t the repository for identified risks: unidentified risks are not yet documented in a formal risk record; risk statements are just the narrative descriptions of risk; risk frameworks are the methodologies or structures used to evaluate risk, not the actual stored risks. So the best choice is the one that describes a repository for all identified risks, which matches how the risk register is used in IRM.

The central store for risks that have been identified is the risk register. This is the single place where every identified risk is documented with details such as description, owner, likelihood, impact, controls, and mitigation actions, enabling consistent assessment, prioritization, and monitoring over time. Other options describe things that aren’t the repository for identified risks: unidentified risks are not yet documented in a formal risk record; risk statements are just the narrative descriptions of risk; risk frameworks are the methodologies or structures used to evaluate risk, not the actual stored risks. So the best choice is the one that describes a repository for all identified risks, which matches how the risk register is used in IRM.

Subscribe

Get the latest from Passetra

You can unsubscribe at any time. Read our privacy policy