AICM Certified Construction Risk Analyst CCRA
Exam
**Question 1.** Which of the following tools is primarily used to break down project risks into
hierarchical categories?
A) Monte Carlo simulation
B) Risk Breakdown Structure (RBS)
C) Earned Value Management
D) Critical Path Method
Answer: B
Explanation: An RBS organizes risks in a tree‑like hierarchy, making it easier to identify, assess,
and manage them.
**Question 2.** In a SWOT analysis for a construction project, the “Opportunities” component
refers to:
A) Internal strengths that can be leveraged
B) External factors that could benefit the project
C) Internal weaknesses that must be corrected
D) External threats that could harm the project
Answer: B
Explanation: Opportunities are external conditions or trends that, if exploited, can improve
project performance.
**Question 3.** Which PESTLE factor most directly influences the selection of construction
materials in a coastal infrastructure project?
A) Political
B) Economic
C) Environmental
D) Technological
Answer: C
, AICM Certified Construction Risk Analyst CCRA
Exam
Explanation: Environmental considerations such as corrosion from saltwater dictate material
choices for coastal works.
**Question 4.** A construction firm sets a risk appetite of “low” for schedule overruns. This
means the firm:
A) Accepts any schedule delay without action
B) Actively seeks to eliminate all schedule risks
C) Tolerates only minimal schedule deviations and implements strong mitigation
D) Transfers all schedule risk to subcontractors
Answer: C
Explanation: Low risk appetite indicates a preference for tight control and proactive mitigation
of schedule risks.
**Question 5.** Which of the following is the most appropriate first step when conducting
on‑site hazard identification?
A) Performing a Monte Carlo simulation
B) Reviewing the project charter
C) Walking the site with a safety checklist
D) Calculating Expected Monetary Value (EMV)
Answer: C
Explanation: Direct observation using a safety checklist is the initial practical method for
identifying on‑site hazards.
**Question 6.** When assessing geotechnical risk, which parameter is least likely to be
considered?
A) Soil bearing capacity
B) Groundwater table depth
, AICM Certified Construction Risk Analyst CCRA
Exam
C) Local labor union agreements
D) Potential for soil liquefaction
Answer: C
Explanation: Labor union agreements relate to operational risk, not geotechnical conditions.
**Question 7.** In the context of operational risk, a “supply chain disruption” is best classified
as:
A) External threat
B) Internal weakness
C) Strength
D) Opportunity
Answer: A
Explanation: Supply chain disruptions originate outside the organization and threaten project
delivery.
**Question 8.** Which document serves as the central repository for all identified risks, their
analysis, and response plans?
A) Project Management Plan
B) Risk Register
C) Change Log
D) Issue Log
Answer: B
Explanation: The Risk Register records each risk, its probability, impact, owner, and mitigation
strategy.
**Question 9.** In a Probability‑Impact Matrix, a risk plotted in the “high‑high” quadrant
should be:
, AICM Certified Construction Risk Analyst CCRA
Exam
A) Accepted without action
B) Monitored only if it occurs
C) Prioritized for immediate mitigation
D) Transferred to a third party automatically
Answer: C
Explanation: High probability and high impact risks demand prompt and robust mitigation
actions.
**Question 10.** Monte Carlo simulation is most useful for:
A) Qualitatively ranking risks
B) Determining the exact date a risk will occur
C) Generating a probability distribution of project outcomes
D) Identifying root causes of risks
Answer: C
Explanation: Monte Carlo runs many iterations to produce a statistical distribution of possible
outcomes.
**Question 11.** Sensitivity analysis primarily helps a risk analyst to:
A) Estimate the financial loss of each risk
B) Identify which input variables most affect project objectives
C) Create a detailed risk response plan
D) Conduct stakeholder interviews
Answer: B
Explanation: Sensitivity analysis shows how changes in variables (e.g., duration, cost) influence
results, highlighting critical risks.
Exam
**Question 1.** Which of the following tools is primarily used to break down project risks into
hierarchical categories?
A) Monte Carlo simulation
B) Risk Breakdown Structure (RBS)
C) Earned Value Management
D) Critical Path Method
Answer: B
Explanation: An RBS organizes risks in a tree‑like hierarchy, making it easier to identify, assess,
and manage them.
**Question 2.** In a SWOT analysis for a construction project, the “Opportunities” component
refers to:
A) Internal strengths that can be leveraged
B) External factors that could benefit the project
C) Internal weaknesses that must be corrected
D) External threats that could harm the project
Answer: B
Explanation: Opportunities are external conditions or trends that, if exploited, can improve
project performance.
**Question 3.** Which PESTLE factor most directly influences the selection of construction
materials in a coastal infrastructure project?
A) Political
B) Economic
C) Environmental
D) Technological
Answer: C
, AICM Certified Construction Risk Analyst CCRA
Exam
Explanation: Environmental considerations such as corrosion from saltwater dictate material
choices for coastal works.
**Question 4.** A construction firm sets a risk appetite of “low” for schedule overruns. This
means the firm:
A) Accepts any schedule delay without action
B) Actively seeks to eliminate all schedule risks
C) Tolerates only minimal schedule deviations and implements strong mitigation
D) Transfers all schedule risk to subcontractors
Answer: C
Explanation: Low risk appetite indicates a preference for tight control and proactive mitigation
of schedule risks.
**Question 5.** Which of the following is the most appropriate first step when conducting
on‑site hazard identification?
A) Performing a Monte Carlo simulation
B) Reviewing the project charter
C) Walking the site with a safety checklist
D) Calculating Expected Monetary Value (EMV)
Answer: C
Explanation: Direct observation using a safety checklist is the initial practical method for
identifying on‑site hazards.
**Question 6.** When assessing geotechnical risk, which parameter is least likely to be
considered?
A) Soil bearing capacity
B) Groundwater table depth
, AICM Certified Construction Risk Analyst CCRA
Exam
C) Local labor union agreements
D) Potential for soil liquefaction
Answer: C
Explanation: Labor union agreements relate to operational risk, not geotechnical conditions.
**Question 7.** In the context of operational risk, a “supply chain disruption” is best classified
as:
A) External threat
B) Internal weakness
C) Strength
D) Opportunity
Answer: A
Explanation: Supply chain disruptions originate outside the organization and threaten project
delivery.
**Question 8.** Which document serves as the central repository for all identified risks, their
analysis, and response plans?
A) Project Management Plan
B) Risk Register
C) Change Log
D) Issue Log
Answer: B
Explanation: The Risk Register records each risk, its probability, impact, owner, and mitigation
strategy.
**Question 9.** In a Probability‑Impact Matrix, a risk plotted in the “high‑high” quadrant
should be:
, AICM Certified Construction Risk Analyst CCRA
Exam
A) Accepted without action
B) Monitored only if it occurs
C) Prioritized for immediate mitigation
D) Transferred to a third party automatically
Answer: C
Explanation: High probability and high impact risks demand prompt and robust mitigation
actions.
**Question 10.** Monte Carlo simulation is most useful for:
A) Qualitatively ranking risks
B) Determining the exact date a risk will occur
C) Generating a probability distribution of project outcomes
D) Identifying root causes of risks
Answer: C
Explanation: Monte Carlo runs many iterations to produce a statistical distribution of possible
outcomes.
**Question 11.** Sensitivity analysis primarily helps a risk analyst to:
A) Estimate the financial loss of each risk
B) Identify which input variables most affect project objectives
C) Create a detailed risk response plan
D) Conduct stakeholder interviews
Answer: B
Explanation: Sensitivity analysis shows how changes in variables (e.g., duration, cost) influence
results, highlighting critical risks.
