RIMS Practice Questions & Answers 100% Correct!!

A business model is a set of assumptions about the? - ANSWERway an organization creates value What two analytical tools are particularly useful in analyzing the business model? - ANSWERValue chain analysis and benchmarking Risk management professionals conduct supply-chain analyses to identify? - ANSWERpotential vulnerabilities to the organization Which activity does the risk management professional perform immediately after obtaining internal and external information about the organization? - ANSWERorganize the information Which risk identification and analysis technique should a risk management professional use in order to gather informa- tion from multiple departments in a brainstorming session that helps to identify shared risks within an organization? - ANSWERworkshops When analyzing an organization's value chain, which of the following would be considered a primary activity? - ANSWERoutbound logistics The organization's resources and internal support are ________ the risk management strategy? - ANSWERinputs in the development of When defining the success measures for the organization's risk strategy, the risk management professional will include which of the following steps? - ANSWERa review of the goals and objectives of the risk strategy Which of the following BEST guides an organization's risk management decision-making process? - ANSWERrisk strategy approach An effective risk communication strategy requires the selection of appropriate - ANSWERmedia channels Which of the following is considered a risk analysis technique? - ANSWERMonte Carlo simulation When an operational area develops a treatment for a critical risk, the risk management professional MUST? - ANSWERevaluate the impact upon other areas A risk management professional advises management on the status of key risks by? - ANSWERproviding insights into the changing characteristics of a risk