When classifying and prioritizing risk responses, the areas to address FIRST are those with:
A.
low cost effectiveness ratios and high risk levels
B.
high cost effectiveness ratios and low risk levels.
C.
high cost effectiveness ratios and high risk levels
D.
low cost effectiveness ratios and low risk levels.
The Answer Is:
C
This question includes an explanation.
Explanation:
The areas to address first when classifying and prioritizing risk responses are those with high cost effectiveness ratios and high risk levels, as they represent the most optimal and urgent risk responses that can reduce the risk exposure and impact significantly with a reasonable cost. Theother options are not the areas to address first, as they may indicate suboptimal or less urgent risk responses that may not align with the risk tolerance and appetite of the organization. References = CRISC Review Manual, 7th Edition, page 109.
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