FRM 2026 Part II Operational Risk and Resilience Fraud Risk Free Quiz 1

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FRM 2026 Part II Operational Risk and Resilience Fraud Risk Free Quiz 1

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FRM 2026 Part II Operational Risk and Resilience Fraud Risk Free Quiz 1

Practice FRM 2026 Part II Operational Risk and Resilience MCQs from Fraud Risk. Get instant results with Explanation.

General10 MCQs

1. What is fraud risk?

A. Fraud risk is only about employee theftB. Fraud risk is the risk of loss from intentional deception or misrepresentationC. Fraud risk is the same as market riskD. Fraud risk is not an operational risk

2. What is the fraud triangle?

A. The fraud triangle has two elements: opportunity and pressureB. The fraud triangle has four elements: pressure, opportunity, rationalisation, and capabilityC. The fraud triangle has three elements: pressure, opportunity, and rationalisationD. The fraud triangle is not a recognised concept

3. What is internal fraud?

A. Internal fraud is committed by insiders, including employees and managersB. Internal fraud is the same as external fraudC. Internal fraud is only about briberyD. Internal fraud is not a risk for organisations

4. What is external fraud?

A. External fraud is committed by insidersB. External fraud is the same as internal fraudC. External fraud is not a riskD. External fraud is committed by third parties, such as customers, hackers, and suppliers

5. What is the first step in managing fraud risk?

A. Fraud risk assessment is not neededB. Fraud risk management begins with assessing vulnerability to fraudC. Fraud risk assessment is only for internal auditorsD. Fraud risk assessment is a one-time exercise

General10 MCQs

6. What are fraud prevention controls?

A. Fraud prevention controls are not effectiveB. Fraud prevention controls are only for financial reportingC. Fraud prevention controls include segregation of duties, authorisation, and trainingD. Fraud prevention controls are optional

7. What are fraud detection controls?

A. Fraud detection controls include reconciliations, exception reports, and whistleblowing hotlinesB. Fraud detection controls are the same as prevention controlsC. Fraud detection controls are not used in practiceD. Fraud detection controls are only for large organisations

8. What is the role of a whistleblowing policy in fraud risk?

A. Whistleblowing is not a fraud risk management toolB. Whistleblowing is only for external reportingC. Whistleblowing policies are optionalD. A whistleblowing policy encourages reporting of suspected fraud and is a key detection control

9. How often should fraud risk assessment be performed?

A. Fraud risk assessment is a one-time activityB. Fraud risk assessment should be performed regularlyC. Fraud risk assessment is only required by regulatorsD. Fraud risk assessment is optional

10. What is the role of the COSO framework in fraud risk management?

A. COSO does not address fraud riskB. COSO is only for financial reportingC. COSO provides guidance on fraud risk managementD. COSO is not used for fraud risk

📋 FRM - Test Online Practice Quizzes

FRM

Conducting Body: Global Association of Risk Professionals GARP

Frequency: three times a year: May, August, and November | Time: 240 Minutes

Negative Marking: No

⚡ Test Pattern (Total: 100 MCQs):

Subject breakdown not available.

Merit Formula: -

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