CISI Operational Risk Practice Questions - CISI Operational Risk (Investment Operations Certificate Unit) Exam

Which definition of operational risk is used in the Basel framework and adopted across financial services?

The risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events The risk that a counterparty fails to meet its contractual obligations The risk of loss arising from movements in market prices The risk that an institution cannot meet payment obligations as they fall due

Correct Answer:

The risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events

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