RIMS-CRMP
VOCAB/DEFINITIONS
TEST WITH ALL
ANSWERS
Benchmarkingb-bcorrectbanswer-
Thebprocessbofbmeasuringbthebperformancebofbanborganizationbagainstbexternalbsta
ndardsbofbreferencebthatbfrequentlybcomebfrombsimilarborganizationsbdoingbsimilarbt
hings.
CorporatebGovernanceb-bcorrectbanswer-
Thebsystembofbrules,bpractices,bandbprocessesbbybwhichbabcompanybisbdirectedban
dbcontrolled.
EnterprisebRiskbManagementb-bcorrectbanswer-
Abstrategicbdisciplinebthatbsupportsbthebachievementbofbanborganization'sbobjectives
bbybaddressingbthebfullbspectrumbofbitsbriskbandbmanagingbthebcombinedbimpactbofbt
hosebrisksbasbanbinterrelatedbriskbportfolio
GapbAnalysisb-bcorrectbanswer-
Comparisonbofbanbexistingbprocessborbprocedureb(currentbstate-
, whatbis)btobabdesired,bfuturebstateb(whatbshouldbbe)binborderbtobidentifybdeficienciesb
orbexcessesbinbthebexistingbprocessb(whatbtobconsider).
KeybPerformancebIndicatorsb(KPIs)b-bcorrectbanswer-
Measure(s)bofbdeviationsbfrombexpectedboutcomesbtobhelpbabfirmbseebhowbitbisbperf
orming.
KeybRiskbIndicatorsb(KRIs)b-bcorrectbanswer-
Leadingbindicator(s)bofbriskbtobbusinessbperformance,bgivingbearlybwarningbaboutbpo
tentialbrisks.
PESTLEbAnalysisb-bcorrectbanswer-
Political,bEconomic,bSocial,btechnological,bLegalbandbEnvironmentalbandbidentifiesbt
hebcategoriesbutilizedbtobanalyzebinternalbandbexternalbenvironments.
Riskb-bcorrectbanswer-Thebeffectbofbuncertaintybofbobjectives.
RiskbAttitudeb-bcorrectbanswer-
Anborganization'sborbindividual'sbview/perspectivebofbthebperceivedbqualitativebandbq
uantitativebvaluebthatbmaybbebgainedbinbcomparisonbtobthebrelatedbpotentialblossborb
losses.
RiskbAppetiteb-bcorrectbanswer-
Thebtotalbexposedbamountbthatbanborganizationbwishesbtobundertakebonbthebbasisbo
fbrisk-returnbtrade-offsbforboneborbmorebdesiredbandbexpectedboutcomes.
RiskbCultureb-bcorrectbanswer-
Thebbeliefs,bvalues,bnorms,bandbtraditionsbofbbehaviorbofbindividualsbandbgroupsbwit
hinbanborganizationbthatbdeterminebthebwaybinbwhichbtheybidentify,bunderstand,bdisc
uss,bandbactbonbthebrisk(s)btheborganizationbconfrontsbandbtakes.
RiskbChampionb-bcorrectbanswer-
Anybpersonbinbanborganizationbwhobisbableaderbandbinfluencesbpeersbregardingbtheb
valuebthatbriskbmanagementbaddsbtobtheborganization.
RiskbGovernanceb-bcorrectbanswer-
Encompassesbtheboversight,bpracticesbandbrespectivebrolesbandbresponsibilitiesbforb
riskbwithinbanborganization'sbuniquebcorporatebgovernance.
RiskbManagementb-bcorrectbanswer-
Coordinatedbactivitiesbtobplan,bdirect,bcontrolbandbmakebdecisionsbconcerningbthebef
fectsbofbuncertaintybonbobjectives.
RiskbOwnerb-bcorrectbanswer-
Anbindividualbaccountablebforbthebidentification,bassessment,btreatment,bandbmonito
ringbofbrisksbinbabspecificbenvironment.
RiskbPortfoliob-bcorrectbanswer-
Abbroadbcollectionbandbrangebofbuncertaintiesbthatbcanbaffectbanborganization'sbfutur
e
VOCAB/DEFINITIONS
TEST WITH ALL
ANSWERS
Benchmarkingb-bcorrectbanswer-
Thebprocessbofbmeasuringbthebperformancebofbanborganizationbagainstbexternalbsta
ndardsbofbreferencebthatbfrequentlybcomebfrombsimilarborganizationsbdoingbsimilarbt
hings.
CorporatebGovernanceb-bcorrectbanswer-
Thebsystembofbrules,bpractices,bandbprocessesbbybwhichbabcompanybisbdirectedban
dbcontrolled.
EnterprisebRiskbManagementb-bcorrectbanswer-
Abstrategicbdisciplinebthatbsupportsbthebachievementbofbanborganization'sbobjectives
bbybaddressingbthebfullbspectrumbofbitsbriskbandbmanagingbthebcombinedbimpactbofbt
hosebrisksbasbanbinterrelatedbriskbportfolio
GapbAnalysisb-bcorrectbanswer-
Comparisonbofbanbexistingbprocessborbprocedureb(currentbstate-
, whatbis)btobabdesired,bfuturebstateb(whatbshouldbbe)binborderbtobidentifybdeficienciesb
orbexcessesbinbthebexistingbprocessb(whatbtobconsider).
KeybPerformancebIndicatorsb(KPIs)b-bcorrectbanswer-
Measure(s)bofbdeviationsbfrombexpectedboutcomesbtobhelpbabfirmbseebhowbitbisbperf
orming.
KeybRiskbIndicatorsb(KRIs)b-bcorrectbanswer-
Leadingbindicator(s)bofbriskbtobbusinessbperformance,bgivingbearlybwarningbaboutbpo
tentialbrisks.
PESTLEbAnalysisb-bcorrectbanswer-
Political,bEconomic,bSocial,btechnological,bLegalbandbEnvironmentalbandbidentifiesbt
hebcategoriesbutilizedbtobanalyzebinternalbandbexternalbenvironments.
Riskb-bcorrectbanswer-Thebeffectbofbuncertaintybofbobjectives.
RiskbAttitudeb-bcorrectbanswer-
Anborganization'sborbindividual'sbview/perspectivebofbthebperceivedbqualitativebandbq
uantitativebvaluebthatbmaybbebgainedbinbcomparisonbtobthebrelatedbpotentialblossborb
losses.
RiskbAppetiteb-bcorrectbanswer-
Thebtotalbexposedbamountbthatbanborganizationbwishesbtobundertakebonbthebbasisbo
fbrisk-returnbtrade-offsbforboneborbmorebdesiredbandbexpectedboutcomes.
RiskbCultureb-bcorrectbanswer-
Thebbeliefs,bvalues,bnorms,bandbtraditionsbofbbehaviorbofbindividualsbandbgroupsbwit
hinbanborganizationbthatbdeterminebthebwaybinbwhichbtheybidentify,bunderstand,bdisc
uss,bandbactbonbthebrisk(s)btheborganizationbconfrontsbandbtakes.
RiskbChampionb-bcorrectbanswer-
Anybpersonbinbanborganizationbwhobisbableaderbandbinfluencesbpeersbregardingbtheb
valuebthatbriskbmanagementbaddsbtobtheborganization.
RiskbGovernanceb-bcorrectbanswer-
Encompassesbtheboversight,bpracticesbandbrespectivebrolesbandbresponsibilitiesbforb
riskbwithinbanborganization'sbuniquebcorporatebgovernance.
RiskbManagementb-bcorrectbanswer-
Coordinatedbactivitiesbtobplan,bdirect,bcontrolbandbmakebdecisionsbconcerningbthebef
fectsbofbuncertaintybonbobjectives.
RiskbOwnerb-bcorrectbanswer-
Anbindividualbaccountablebforbthebidentification,bassessment,btreatment,bandbmonito
ringbofbrisksbinbabspecificbenvironment.
RiskbPortfoliob-bcorrectbanswer-
Abbroadbcollectionbandbrangebofbuncertaintiesbthatbcanbaffectbanborganization'sbfutur
e