The Big data state of art has strong focus on opportunities but very less explored in risk management and software testing. This paper draws attention towards risk management of high volume big data sets and testing them to achieve confidence in software quality. The research describes big data analytics, data processing tools, risks in big data, risks management strategies, big data testing and quality assurance in big data. It focuses on how big data risk and testing issues are managed for quality assurance. The key contribution of this research encompasses state of art on big data risks, testing and QA techniques to provide a sound foundation for big data quality assurance.