RIMS CRMP UPDATED ACTUAL EXAM
QUESTIONS AND CORRECT ANSWERS FULL
SOLUTION GRADED A+
◉ Benchmarking. Answer: The process of measuring the performance
of an organization against external standards of reference that
frequently come from similar organizations doing similar things.
◉ Corporate Governance. Answer: The system of rules, practices and
processes by which a company is directed and controlled.
◉ Enterprise Risk Management. Answer: A strategic discipline that
supports the achievement of an organization's objectives by
addressing the full spectrum of its risk and managing the combined
impact of those risks as an interrelated risk portfolio.
◉ Gap Analysis. Answer: Comparison of an existing process or
procedure to recognize standards in order to identify deficiencies or
excesses in the existing process.
◉ Key performance indicator (KPI). Answer: As activity that signals
the achievement of organizational objectives, emphasize opportunities
and strategic objectives.
, ◉ Key risk indicator (KRI). Answer: designed to manage downside
risk. A measurement of how risk and volatility relate to achieving
organizational objectives,
◉ PESTLE Analysis. Answer: PESTLE is an acronym for Political,
Economic, Social, Technology, Legal and Environmental and
identifies the categories utilized to analyze internal and external
environments. Other forms of the acronym include "PEST" and
"PESTEL."
◉ Risk. Answer: The effect of uncertainty on objectives.
◉ Risk Appetite. Answer: The total exposed amount that an
organization wishes to undertake on the basis of risk return trade-offs
for one or more desired and expected outcomes
◉ Risk Attitude. Answer: An organization's or individuals'
view/perspective of the perceived qualitative and quantitative value
that may be gained in comparison to the related potential loss or
losses.
◉ Risk Culture. Answer: The beliefs, values, norms and traditions of
behavior of individuals and groups within an organization that
determine the way in which they identify, understand, discuss and act
on the risk(s) the organization confronts and takes.
QUESTIONS AND CORRECT ANSWERS FULL
SOLUTION GRADED A+
◉ Benchmarking. Answer: The process of measuring the performance
of an organization against external standards of reference that
frequently come from similar organizations doing similar things.
◉ Corporate Governance. Answer: The system of rules, practices and
processes by which a company is directed and controlled.
◉ Enterprise Risk Management. Answer: A strategic discipline that
supports the achievement of an organization's objectives by
addressing the full spectrum of its risk and managing the combined
impact of those risks as an interrelated risk portfolio.
◉ Gap Analysis. Answer: Comparison of an existing process or
procedure to recognize standards in order to identify deficiencies or
excesses in the existing process.
◉ Key performance indicator (KPI). Answer: As activity that signals
the achievement of organizational objectives, emphasize opportunities
and strategic objectives.
, ◉ Key risk indicator (KRI). Answer: designed to manage downside
risk. A measurement of how risk and volatility relate to achieving
organizational objectives,
◉ PESTLE Analysis. Answer: PESTLE is an acronym for Political,
Economic, Social, Technology, Legal and Environmental and
identifies the categories utilized to analyze internal and external
environments. Other forms of the acronym include "PEST" and
"PESTEL."
◉ Risk. Answer: The effect of uncertainty on objectives.
◉ Risk Appetite. Answer: The total exposed amount that an
organization wishes to undertake on the basis of risk return trade-offs
for one or more desired and expected outcomes
◉ Risk Attitude. Answer: An organization's or individuals'
view/perspective of the perceived qualitative and quantitative value
that may be gained in comparison to the related potential loss or
losses.
◉ Risk Culture. Answer: The beliefs, values, norms and traditions of
behavior of individuals and groups within an organization that
determine the way in which they identify, understand, discuss and act
on the risk(s) the organization confronts and takes.
