ARM 401 - Segment A Exam Questions 2023/2024 Solved 100% Correct

Risk threshold - ANSWER-The range or amount of risk that is acceptable. Sensor - ANSWER-A device that detects and measures stimuli in its environment. Radio frequency identification (RFID) - ANSWER-A technology that uses radio frequency to identify objects. Artifical intelligence (AI) - ANSWER-Computer processing or output that simulates human reasoning or knowledge. Computer vision - ANSWER-A technology that simulates human vision. Risk register - ANSWER-A tool developed at the risk owner level that links specific activities, processes, projects, or plans to a list of identified risks and results of risk analysis and evaluation and that is ultimately consolidated at the enterprise level. Risk map - ANSWER-A template depicting the likelihood and potential impact/consequences of risks. Risk appetite - ANSWER-Amount of risk an organization is willing to take on in order to achieve an anticipated result or return. Inherent risk - ANSWER-The level of risk that would be faced if it were to remain untreated or no action were to be taken to alter the level of risk. Residual risk - ANSWER-The level of risk remaining after actions are taken to alter the level of risk. Optimum risk - ANSWER-The level of risk that is within an organization's risk appetite. Risk control - ANSWER-A conscious act or decision not to act that reduces the frequency and/or severity of losses or makes losses more predictable. Energy transfer theory - ANSWER-An approach to accident causation that views accidents as energy that is released and that affects objects, including living things, in amounts or at rates that the objects cannot tolerate. Technique of operations review (TOR) - ANSWER-An approach to accident causation that view the cause of accidents to be a result of management's shortcomings. Change analysis - ANSWER-An analysis that projects the effects a given system change is likely to have on an existing system. Job safety analysis (JSA) - ANSWER-An analysis that dissects a repetitive task, whether performed by a person or machine, to determine potential hazards if each action is not performed. System safety - ANSWER-A safety engineering technique also used as an approach to accident causation that considers the mutual effects of the interrelated elements of a system on one another throughout the system's life cycle. Conceptual phase - ANSWER-A phase in the life of a system when the basic purpose and preliminary design of the system are formulated. Engineering phase - ANSWER-A phase in the life of a system when the system's design is constructed and prototypes are tested. Production phase - ANSWER-A phase in the life of a system when the actual system is created. Operational phase - ANSWER-A phase in the life of a system when the system is implemented. Disposal phase - ANSWER-A phase in the life of a system when the system reaches the end of its useful life and is disposed of. Causal factors - ANSWER-The agents that directly result in one event causing another. Failure mode and effects analysis (FMEA) - ANSWER-An analysis that reverses the direction of reasoning in fault tree analysis by starting with causes and branching out to consequences. Failure mode - ANSWER-The manner in which a perceived or actual defect in an item, process, or design occurs. Effects analysis - ANSWER-The study of a failure's consequences to determine a risk event's root cause(s). Indenture level - ANSWER-An item's relative complexity within an assembly, system, or function. Local effect - ANSWER-The consequence of a failure mode on the operation, function, or status of the specific item or system level under analysis.