FRM二级《操作及综合风险管理》Operational risk as defined by Basel ll/lll

Which of the following is not a type of operational risk as defined by Basel ll/lll?
 
A.Human error and internal fraud
 
B.Destruction by fire or other external catastrophes
 
C.Damaged reputation due to a failed merger
 
D.Failure or breakdown in internal control processes
 
 
FRM二级考试科目《投资风险管理》
 
Answer:C
 
Explanation:Basel ll/lll defines operational risk(inclusive of technological risk)as“the risk of direct or indirect loss resulting from inadequate or failed internal processes,people and systems of from external events.”Although a number of financial institutions add reputation risk and strategic risk(e.g.,due to a failed merger)as part of a broadened definition of operational risk,they are not within the scope of definition by Basel ll/lll.
 
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