PMI RISK MANAGEMENT PROFESSIONAL (PMI-RMP) EXAM PRACTICE
QUESTIONS AND CORRECT ANSWERS (ANSWERS) PLUS RATIONALE
Q&A I.
PMI-RMP Practice Questions — Batch 1 (Questions 1–50)
Domain: Risk Strategy and Planning
1. What is the primary purpose of the Risk Management Plan?
A. To list all identified risks for the project.
B. To document the results of the qualitative risk analysis.
C. To describe how risk management activities will be structured and
performed.
D. To assign a risk owner to every identified risk.
Correct Answer: C
Rationale: The Risk Management Plan is a component of the project
management plan. It describes the risk management strategy,
methodology, roles and responsibilities, funding, timing, and risk
categories. It does not list the risks themselves (that is the Risk
Register) or the results of the analysis .
,2. A project manager is leading a low-priority, low-visibility project with
a tight budget. Which approach to risk management is MOST
appropriate?
A. A comprehensive, detailed approach with extensive analysis.
B. A streamlined, simplified approach focusing on high-impact risks.
C. No formal risk management, as the project is not critical.
D. Outsourcing all risk management activities to a third party.
Correct Answer: B
Rationale: The level of detail and formality in risk management should
be tailored to the project's needs. For a low-priority project with a tight
budget, a simplified approach that focuses on the most significant
threats and opportunities is the most efficient and effective use of
resources .
3. Who is ultimately responsible for ensuring that risk management is
performed on a project?
A. The Risk Manager
B. The Project Manager
C. The Project Sponsor
D. The PMO
,Correct Answer: B
Rationale: While a Risk Manager may facilitate the process and the
Sponsor provides high-level support, the Project Manager is ultimately
accountable for the success of the project, which includes managing its
risks .
4. The "risk appetite" of an organization is best described as:
A. The total amount of financial loss the organization can withstand.
B. The amount of risk an organization is willing to accept in pursuit of its
objectives.
C. The process of identifying and analyzing potential risks.
D. A list of all known risks and their potential impacts.
Correct Answer: B
Rationale: Risk appetite is the amount and type of risk that an
organization is willing to pursue or retain. It is a strategic-level decision
that guides how risks are managed at the project level .
5. What is the difference between a risk and an issue?
A. A risk is a problem, and an issue is a potential problem.
, B. A risk has a probability of occurring, while an issue has already
occurred.
C. An issue has a probability of occurring, while a risk has already
occurred.
D. There is no difference; the terms are interchangeable.
Correct Answer: B
Rationale: A risk is an uncertain event or condition that, if it occurs, has
a positive or negative effect on project objectives. An issue is a current
condition or situation that may have an impact on the project
objectives. An issue is a risk that has materialized .
6. A "risk breakdown structure" (RBS) is used to:
A. Show the hierarchy of project team members responsible for risks.
B. Provide a hierarchical representation of potential sources of risk.
C. Break down the project budget for risk response activities.
D. Create a schedule for risk management activities.
Correct Answer: B
QUESTIONS AND CORRECT ANSWERS (ANSWERS) PLUS RATIONALE
Q&A I.
PMI-RMP Practice Questions — Batch 1 (Questions 1–50)
Domain: Risk Strategy and Planning
1. What is the primary purpose of the Risk Management Plan?
A. To list all identified risks for the project.
B. To document the results of the qualitative risk analysis.
C. To describe how risk management activities will be structured and
performed.
D. To assign a risk owner to every identified risk.
Correct Answer: C
Rationale: The Risk Management Plan is a component of the project
management plan. It describes the risk management strategy,
methodology, roles and responsibilities, funding, timing, and risk
categories. It does not list the risks themselves (that is the Risk
Register) or the results of the analysis .
,2. A project manager is leading a low-priority, low-visibility project with
a tight budget. Which approach to risk management is MOST
appropriate?
A. A comprehensive, detailed approach with extensive analysis.
B. A streamlined, simplified approach focusing on high-impact risks.
C. No formal risk management, as the project is not critical.
D. Outsourcing all risk management activities to a third party.
Correct Answer: B
Rationale: The level of detail and formality in risk management should
be tailored to the project's needs. For a low-priority project with a tight
budget, a simplified approach that focuses on the most significant
threats and opportunities is the most efficient and effective use of
resources .
3. Who is ultimately responsible for ensuring that risk management is
performed on a project?
A. The Risk Manager
B. The Project Manager
C. The Project Sponsor
D. The PMO
,Correct Answer: B
Rationale: While a Risk Manager may facilitate the process and the
Sponsor provides high-level support, the Project Manager is ultimately
accountable for the success of the project, which includes managing its
risks .
4. The "risk appetite" of an organization is best described as:
A. The total amount of financial loss the organization can withstand.
B. The amount of risk an organization is willing to accept in pursuit of its
objectives.
C. The process of identifying and analyzing potential risks.
D. A list of all known risks and their potential impacts.
Correct Answer: B
Rationale: Risk appetite is the amount and type of risk that an
organization is willing to pursue or retain. It is a strategic-level decision
that guides how risks are managed at the project level .
5. What is the difference between a risk and an issue?
A. A risk is a problem, and an issue is a potential problem.
, B. A risk has a probability of occurring, while an issue has already
occurred.
C. An issue has a probability of occurring, while a risk has already
occurred.
D. There is no difference; the terms are interchangeable.
Correct Answer: B
Rationale: A risk is an uncertain event or condition that, if it occurs, has
a positive or negative effect on project objectives. An issue is a current
condition or situation that may have an impact on the project
objectives. An issue is a risk that has materialized .
6. A "risk breakdown structure" (RBS) is used to:
A. Show the hierarchy of project team members responsible for risks.
B. Provide a hierarchical representation of potential sources of risk.
C. Break down the project budget for risk response activities.
D. Create a schedule for risk management activities.
Correct Answer: B
