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For FRM (Part I & Part II) video lessons, study notes, question banks, mock exams, and formula sheets covering all chapters of the FRM syllabus, click on the following link: https://analystprep.com/shop/unlimite... AnalystPrep is a GARP-Approved Exam Preparation Provider for FRM Exams After completing this reading, you should be able to: - Describe best practices for the implementation and communication of a risk appetite framework at a firm. - Explain the relationship between a firm’s risk appetite framework and its risk culture, and between the risk appetite framework and a firm’s strategy and business planning process. - Explain key challenges to the implementation of a risk appetite framework and describe ways that a firm can overcome each challenge. - Assess the role of stress testing within a risk appetite framework, and describe challenges in aggregating firm-wide risk exposures. - Explain the lessons learned in the implementation of a risk appetite framework through the presented case studies.