RIMS CRMP-Implementing the Risk Process QUESTIONS AND ANSWERS
Risks correct answers The effect of uncertainty on objectives The chance of something happening that will have an impact on objectives Being prepared for the worst and being poised to exploit opportunities as they are discovered Risk management strategies' general focus correct answers Meeting or exceeding an organization's objectives Adhering to control-based objectives, rules and/or controls Complying with regulatory requirements Communication and Consultation correct answers Risk management professional's role in Implementing Risk Strategies Risk Identification Process correct answers Finding, Recognizing and Recording Risks Risk Analysis correct answers The process of characterizing and understanding the nature of risk and of considering the level of risk in the context of the organization's willingness to accept risk. Likelihood, Consequences, other criteria such as timing, duration, vulnerability and interdependencies correct answers Risk is typically analyzed on the basis of Bow tie analysis correct answers hazard analysis technique (cause and consequence) Business impact analysis correct answers consider business impacts at a location or from a specific process
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