Risk Management Foundation and Practitioner Quiz Questions and Answers

In which step is the risk register used to calculate the total risk exposure faced by the activity?

Answer :
  • Assess - Evaluate

What is NOT part of risk specialism?

Answer :
  • Problem and crisis management

What describes the 'reduce a threat' risk response type?

Answer :
  • Taking definite action to change the probability of the threat

According to the M_o_R guide, what does a risk consist of?

Answer :
  • Probability of a perceived threat or opportunity occurring and the magnitude of its impact on objectives

Which of the following documents are central to creating a risk management approach? 1. Risk Register 2. Risk Management Strategy 3. Risk Management Policy 4. Risk Management Process Guide

Answer :
  • 2, 3, 4

Which defines the term 'contingency'?

Answer :
  • Funding to manage risks should they materialize

Which is a method for building and developing risk awareness within an organization?

Answer :
  • New employees are informed of the risk management policies, processes and procedures

Which is identified by the use of the ’PESTLE analysis’ and ‘SWOT analysis’ techniques?

Answer :
  • External factors that may affect the organization's objectives

Which is NOT a common process barrier to implementing the steps in the risk management process?

Answer :
  • Lack of appropriate responses to risks in the risk register

Which document is NOT recommended to be included when creating a management of risk approach within an organization?

Answer :
  • Contingency plan