CRM PRINCIPLES OF RISK MANAGEMENT EXAM CERTIFICATION EVALUATION TESTED
QUESTIONS FULL SOLUTION GUIDE
Question:
Risk Manager Roles
Answer:
implement & manage an organizations risk management program thru 1. Risk Identification 2.
Analysis 3. Control 4. Financing 5. Adminstrative Techniques
Question:
Risk Manager Soft Skills
Answer:
1. emotional intelligence - the art of dealing with people 2. Diplomacy - art of negotiation 3.
Facilitation - engage cooperation 4. Communication - active listening, adopt message to audience
Question:
Value of Effective Risk Manager
Answer:
1. Elevating the importance of risk management. 2. Creating understanding 3. Positive organization
risk culture 4. Support measured risk taking (reduce frequency/severity, planning and budgeting,
awareness of indirect losses and connections between risks)
Question:
POLE
Answer:
Planning Organizing Leading Evaluating
,Question:
POLE - Leading
Answer:
Motivate people to take action 1. provide clear goals 2. Use sound judgement 3. promote teamwork
& cooperation
Question:
POLE - Evaluating
Answer:
Measuring achievement against established goals 1. establish benchmarks 2. compare actual
performance to the standards 3. take corrective action when necessary
Question:
POLE- Planning
Answer:
Determining course of action 1. identify goals 2. establish road map 3. consider economic and
resource variables.
Question:
POLE - Organizing
Answer:
Allocation of resources & responsibilities 1. bring together necessary resources to meet objective. 2.
assign responsibilities and delegate authority 3. coordinate activities of external and internal
members.
Question:
Implementation
, Answer:
Where the desired actions and plans of the risk management department are initiated 1.
communicate risk manager goals and objectives 2. partner with various levels of the organization 3.
create org chart
Question:
The Management Model
Answer:
Risk Identification Risk Analysis Risk Control Risk Financing Risk administration
Question:
Monitoring
Answer:
Risk manager examines and evaluates the results of the actions and plans and then modifies the
process 1. evaluate effectiveness of program 2. review risk manager policies and procedures 3.
report on results, threats, successes and opportunities
Question:
Effective Risk Management Program
Answer:
1. compliance - legal operations (audit, contracts) 2. operational - safety and stability (insurance,
environmental) 3. strategic - capitalize on opportunity and mitigate threats (grown, due diligence)
Question:
Communication Process
Answer:
1. encoding/creation 2. transmission 3. Reception/Decoding 4. Feedback/Response
QUESTIONS FULL SOLUTION GUIDE
Question:
Risk Manager Roles
Answer:
implement & manage an organizations risk management program thru 1. Risk Identification 2.
Analysis 3. Control 4. Financing 5. Adminstrative Techniques
Question:
Risk Manager Soft Skills
Answer:
1. emotional intelligence - the art of dealing with people 2. Diplomacy - art of negotiation 3.
Facilitation - engage cooperation 4. Communication - active listening, adopt message to audience
Question:
Value of Effective Risk Manager
Answer:
1. Elevating the importance of risk management. 2. Creating understanding 3. Positive organization
risk culture 4. Support measured risk taking (reduce frequency/severity, planning and budgeting,
awareness of indirect losses and connections between risks)
Question:
POLE
Answer:
Planning Organizing Leading Evaluating
,Question:
POLE - Leading
Answer:
Motivate people to take action 1. provide clear goals 2. Use sound judgement 3. promote teamwork
& cooperation
Question:
POLE - Evaluating
Answer:
Measuring achievement against established goals 1. establish benchmarks 2. compare actual
performance to the standards 3. take corrective action when necessary
Question:
POLE- Planning
Answer:
Determining course of action 1. identify goals 2. establish road map 3. consider economic and
resource variables.
Question:
POLE - Organizing
Answer:
Allocation of resources & responsibilities 1. bring together necessary resources to meet objective. 2.
assign responsibilities and delegate authority 3. coordinate activities of external and internal
members.
Question:
Implementation
, Answer:
Where the desired actions and plans of the risk management department are initiated 1.
communicate risk manager goals and objectives 2. partner with various levels of the organization 3.
create org chart
Question:
The Management Model
Answer:
Risk Identification Risk Analysis Risk Control Risk Financing Risk administration
Question:
Monitoring
Answer:
Risk manager examines and evaluates the results of the actions and plans and then modifies the
process 1. evaluate effectiveness of program 2. review risk manager policies and procedures 3.
report on results, threats, successes and opportunities
Question:
Effective Risk Management Program
Answer:
1. compliance - legal operations (audit, contracts) 2. operational - safety and stability (insurance,
environmental) 3. strategic - capitalize on opportunity and mitigate threats (grown, due diligence)
Question:
Communication Process
Answer:
1. encoding/creation 2. transmission 3. Reception/Decoding 4. Feedback/Response
