P2 Treatment of Uncertainty & Risk in decision making
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1
What is risk
Quantifiable - possible outcomes have associated probabilities, allowing the for the use of mathematical techniques
2
What is uncertainty
Unquantifiable - outcomes cannot be mathmatically modelled
3
What are the 4 key areas of stress testing
4
what is upside risk
5
what is CIMA's risk management cycle
6
what are the 6 common risk categories
7
what is risk management