ARM 400 Missed Practice exam Questions with Correct Answers

Which of the following risk management program goals is an essential goal for all public entities? Correct Answer Continuity of operations The fundamental purpose of a risk management framework is to Correct Answer Integrate risk management throughout the organization. Which one of the following is a tool that can be used by fraud investigators to compare documents and analyze notes? Correct Answer Text mining Samuel was recently hired as a risk management professional for Parker Property Management. He has been asked by senior management to review the organization's current insurance policies to make sure that the organization is adequately protected, and also see if there are any opportunities to save on the premiums. Samuel must do which one of the following through internal communication before he will be able to complete this task? Correct Answer Determine the organization's risk appetite One enterprise risk management (ERM) approach to categorizing risks involves dividing risks into four risk quadrants. The risks categorized as hazard risks are Correct Answer Traditionally managed by risk management professionals. Which one of the following provides a measure of the maximum potential damage associated with an occurrence? Correct Answer Exposure When communicating a decision up the organization's chain of command, consulting with outside experts can help a risk management professional do which one of the following? Correct Answer Enhance stakeholders' confidence in the process The fundamental purpose of a risk management framework is to Correct Answer Integrate risk management throughout the organization. Risk can be classified as diversifiable or nondiversifiable. Which one of the following statements is true with respec