RIMS-CRMP EXAM STUDY GUIDE WITH COMPLETE
SOLUTIONS 100% ACCURATE | 2024
Benchmarking - 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 - The system of rules, practices and processes by which a
company is directed and controlled.
Enterprise Risk Management - 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 - 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) - As activity that signals the achievement of
organizational objectives, emphasize opportunities and strategic objectives.
Key risk indicator (KRI) - designed to manage downside risk. A measurement of how
risk and volatility relate to achieving organizational objectives,
PESTLE Analysis - 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."
Risk - The effect of uncertainty on objectives.
Risk Appetite - The total exposed amount that an organization wishes to undertake on
the basis of risk return trade-offs for one or more desired and expected outcomes
Risk Attitude - An organization's or individuals' view/perspective of the perceived
qualitative and quantitative value that may be gained in comparison to the related
potential loss or losses.
Risk Culture - The beliefs, values, norms and traditions of behavior of individuals and
groups within an organization that determine the way in which they identify, understand,
discuss and act on the risk(s) the organization confronts and takes.
Risk Champion - Any person in an organization who is a leader and influences peers
regarding the value that risk management adds to the organization.
SOLUTIONS 100% ACCURATE | 2024
Benchmarking - 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 - The system of rules, practices and processes by which a
company is directed and controlled.
Enterprise Risk Management - 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 - 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) - As activity that signals the achievement of
organizational objectives, emphasize opportunities and strategic objectives.
Key risk indicator (KRI) - designed to manage downside risk. A measurement of how
risk and volatility relate to achieving organizational objectives,
PESTLE Analysis - 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."
Risk - The effect of uncertainty on objectives.
Risk Appetite - The total exposed amount that an organization wishes to undertake on
the basis of risk return trade-offs for one or more desired and expected outcomes
Risk Attitude - An organization's or individuals' view/perspective of the perceived
qualitative and quantitative value that may be gained in comparison to the related
potential loss or losses.
Risk Culture - The beliefs, values, norms and traditions of behavior of individuals and
groups within an organization that determine the way in which they identify, understand,
discuss and act on the risk(s) the organization confronts and takes.
Risk Champion - Any person in an organization who is a leader and influences peers
regarding the value that risk management adds to the organization.
