No. Your subquery should return only one value (only one row and one column), since you will display it on one row.
Since you are displaying the value as a single column using your query above, it looks like you intend to get only one value.
select CASE WHEN action_type like 'Trigger Severity' THEN (select cast(SEVERITY as varchar2(255)) name from SURV_TRIGGER_SEVERITY_LIST) WHEN action_type like 'Host Group' then (select cast(name as varchar2(255)) name from Surv_List.groups) WHEN action_type like 'Host' then (select cast(name as varchar2(255)) name from tn_tree) END display_value from surv_action_type_list where id = 0
Is there where there is no link to this identifier to say a severity list? Typically, such queries will have a condition in the subquery .. something like ..
select CASE WHEN action_type like 'Trigger Severity' THEN (select cast(SEVERITY as varchar2(255)) name **from SURV_TRIGGER_SEVERITY_LIST trglst where trglst.name = lst.severity_name**
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