TRUE / FALSE1. The optimum size for a brainstorming session is 20-25 people and

TRUE / FALSE1. The optimum size for a brainstorming session is 20-25 people and the ideal time is 2-3 hours.2. An Audit Committee of the Board of Directors manages the daily financial transactions of the business.3. A risk management plan is a document that foreseeks risk estimates the effectiveness of risk and creates aplan to mitigate them.4. Lloyds of London is a firm that sells insurance that mitigates a customers risk. MULTIPLE CHOICE5. The key components of a program management includes which of the following:a. Organizational managementb. Capital budgeting technique applicationc. Resource maximizationd. Time-series analysise. Monte Carlo Simulation6. Define what a risk management plan is its purpose key elements and how it helps an organizationmitigate risk. (250 maximum)