RIMS CRMP EXAM STUDY GUIDE COMMON TERMS LATEST
UPDATE WITH 100% VERIFIED SOLUTIONS!! ALREADY 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.
UPDATE WITH 100% VERIFIED SOLUTIONS!! ALREADY 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.
