RIMS-CRMP EXAM STUDY GUIDE Q and A Latest Update 2024

A business model is a set of assumptions about the - ANSWER-way an organization creates value A risk management professional advises management on the status of key risks by - ANSWERproviding insights into the changing characteristics of a risk After validating the training curricula, a risk management professional - ANSWER-schedules and conducts training. Benchmarking - ANSWER-The process of measuring the performance of an organization against external standards of reference that frequently come from similar organizations doing similar things. Corporate Governance - ANSWER-The system of rules, practices and processes by which a company is directed and controlled. Enterprise Risk Management - ANSWER-A strategic discipline that supports the achievement of an organization's objectives by addressing the full spectrum of its risk and managing the combined impact of those risks as an interrelated risk portfolio. Gap Analysis - ANSWER-Comparison of an existing process or procedure to recognize standards in order to identify deficiencies or excesses in the existing process. Key performance indicator (KPI) - ANSWER-As activity that signals the achievement of organizational objectives, emphasize opportunities and strategic objectives. Key risk indicator (KRI) - ANSWER-designed to manage downside risk. A measurement of how risk and volatility relate to achieving organizational objectives, PESTLE Analysis - ANSWER-PESTLE is an acronym for Political, Economic, Social, Technology, Legal and Environmental and identifies the categories utilized to analyze internal and external environments. Other forms of the acronym include "PEST" and "PESTEL."