RIMS PRACTICE EXAM QUESTIONS
AND ANSWERS
Which of the following would signal a potential change in an organization's risk
context? -Answer-The organization acquires a new business
What is the FIRST step in delivering risk training? -Answer-Identifying training needs
The risk management professional can use various risk dimensions to analyse risks.
These include impact, likelihood and? -Answer-Speed of onset or velocity
Which type of risk management is the most influential in facilitating risk discussions
on a board or similar organizational level? -Answer-Enterprise
Which approach should be used to reduce the risk of perception bias when
conducting a facilitate risk workshop? -Answer-Working with a diverse group
To gain greater insight on the effects of uncertainty on organizational objectives, the
risk management professional? -Answer-Should consult with key risk stakeholders
An effective way for a risk management professional to analyze operations of an
organization is to form a? -Answer-Risk committee
Before a decision is made, which of the following issues should ALWAYS be
escalated to higher level risk committees, management committees, or the Board? -
Answer-Those that exceed the authority of the intended decision maker or decision-
making body
A business model is a set of assumptions about the? -Answer-way an organization
creates value
What two analytical tools are particularly useful in analyzing the business model? -
Answer-Value chain analysis and benchmarking
Risk management professionals conduct supply-chain analyses to identify? -Answer-
potential vulnerabilities to the organization
Which activity does the risk management professional perform immediately after
obtaining internal and external information about the organization? -Answer-organize
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? -
Answer-workshops
When analyzing an organization's value chain, which of the following would be
considered a primary activity? -Answer-outbound logistics
AND ANSWERS
Which of the following would signal a potential change in an organization's risk
context? -Answer-The organization acquires a new business
What is the FIRST step in delivering risk training? -Answer-Identifying training needs
The risk management professional can use various risk dimensions to analyse risks.
These include impact, likelihood and? -Answer-Speed of onset or velocity
Which type of risk management is the most influential in facilitating risk discussions
on a board or similar organizational level? -Answer-Enterprise
Which approach should be used to reduce the risk of perception bias when
conducting a facilitate risk workshop? -Answer-Working with a diverse group
To gain greater insight on the effects of uncertainty on organizational objectives, the
risk management professional? -Answer-Should consult with key risk stakeholders
An effective way for a risk management professional to analyze operations of an
organization is to form a? -Answer-Risk committee
Before a decision is made, which of the following issues should ALWAYS be
escalated to higher level risk committees, management committees, or the Board? -
Answer-Those that exceed the authority of the intended decision maker or decision-
making body
A business model is a set of assumptions about the? -Answer-way an organization
creates value
What two analytical tools are particularly useful in analyzing the business model? -
Answer-Value chain analysis and benchmarking
Risk management professionals conduct supply-chain analyses to identify? -Answer-
potential vulnerabilities to the organization
Which activity does the risk management professional perform immediately after
obtaining internal and external information about the organization? -Answer-organize
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? -
Answer-workshops
When analyzing an organization's value chain, which of the following would be
considered a primary activity? -Answer-outbound logistics
