RIMS-CRMP EXAM QUESTIONS WITH
CORRECT ANSWERS
A business model is a set of assumptions about the ______
A. financial stability of an organization
B. organizational structure of a business
C. products and services past performance
D. way an organization creates value - Correct Answers -D. way an organization
creates value
What two analytical tools are particularly useful in analyzing the business model?
A. Key performance indicators and total cost of risk
B. Key risk indicators and gap analysis
C. Pareto analysis and root cause analysis
D. Value chain analysis and benchmarking - Correct Answers -D. Value chain analysis
and benchmarking
Risk management professionals conduct supply-chain analyses to identify
_______________ .
A. contingent business interruption coverage
B. customer technology needs
C. international regulatory requirements
D. potential vulnerabilities to the organization - Correct Answers -D. potential
vulnerabilities to the organization
Root cause analysis - Correct Answers -Root cause analysis: Multiple risk assessment
techniques and approaches, at times applied in a series, which are designed to identify
the underlying or initiating risk source(s) or driver(s).
SWOT analysis - Correct Answers -SWOT analysis: SWOT is an acronym for
Strengths, Weaknesses, Opportunities, and Threats and is an analytical approach for
environmental scanning that combines internal and external context with obstacles and
accelerators to success in achieving objectives.
Value chain - Correct Answers -Value chain: A high-level model developed by Michael
Porter used to describe the process by which businesses receive raw materials, add
value to the raw materials through various processes to create a finished product, and
then sell that end product to customers.
, Which activity does the risk management professional perform immediately after
obtaining internal and external information about the organization?
A. analyze the information
B. organize the information
C. prioritize the information
D. report the information - Correct Answers -B. organize the information
Which risk identification and analysis technique should a risk management professional
use in order to gather information from multiple departments in a brainstorming session
that helps to identify shared risks within an organization?
A. checklists
B. flowcharts
C. workshops
D. questionnaires - Correct Answers -C. workshops
When analyzing an organization's value chain, which of the following would be
considered a primary activity?
A. technological development
B. human resources management
C. infrastructure management
D. outbound logistics - Correct Answers -D. outbound logistics
The organization's resources and internal support are ________ the risk management
strategy.
A. adjustable to match
B. inputs in the development of
C. metrics used to measure the value of
D. outcomes of the development of - Correct Answers -B. inputs 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?
A. a review of the goals and objectives of the risk strategy
B. a selection of appropriate media for communicating the risk strategy
C. an analysis of the organization's total cost of insurable risk
D. the development of timelines for implementing the risk strategy - Correct Answers -A.
a review of the goals and objectives of the risk strategy
Which of the following BEST guides an organization's risk management decision-
making process?
CORRECT ANSWERS
A business model is a set of assumptions about the ______
A. financial stability of an organization
B. organizational structure of a business
C. products and services past performance
D. way an organization creates value - Correct Answers -D. way an organization
creates value
What two analytical tools are particularly useful in analyzing the business model?
A. Key performance indicators and total cost of risk
B. Key risk indicators and gap analysis
C. Pareto analysis and root cause analysis
D. Value chain analysis and benchmarking - Correct Answers -D. Value chain analysis
and benchmarking
Risk management professionals conduct supply-chain analyses to identify
_______________ .
A. contingent business interruption coverage
B. customer technology needs
C. international regulatory requirements
D. potential vulnerabilities to the organization - Correct Answers -D. potential
vulnerabilities to the organization
Root cause analysis - Correct Answers -Root cause analysis: Multiple risk assessment
techniques and approaches, at times applied in a series, which are designed to identify
the underlying or initiating risk source(s) or driver(s).
SWOT analysis - Correct Answers -SWOT analysis: SWOT is an acronym for
Strengths, Weaknesses, Opportunities, and Threats and is an analytical approach for
environmental scanning that combines internal and external context with obstacles and
accelerators to success in achieving objectives.
Value chain - Correct Answers -Value chain: A high-level model developed by Michael
Porter used to describe the process by which businesses receive raw materials, add
value to the raw materials through various processes to create a finished product, and
then sell that end product to customers.
, Which activity does the risk management professional perform immediately after
obtaining internal and external information about the organization?
A. analyze the information
B. organize the information
C. prioritize the information
D. report the information - Correct Answers -B. organize the information
Which risk identification and analysis technique should a risk management professional
use in order to gather information from multiple departments in a brainstorming session
that helps to identify shared risks within an organization?
A. checklists
B. flowcharts
C. workshops
D. questionnaires - Correct Answers -C. workshops
When analyzing an organization's value chain, which of the following would be
considered a primary activity?
A. technological development
B. human resources management
C. infrastructure management
D. outbound logistics - Correct Answers -D. outbound logistics
The organization's resources and internal support are ________ the risk management
strategy.
A. adjustable to match
B. inputs in the development of
C. metrics used to measure the value of
D. outcomes of the development of - Correct Answers -B. inputs 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?
A. a review of the goals and objectives of the risk strategy
B. a selection of appropriate media for communicating the risk strategy
C. an analysis of the organization's total cost of insurable risk
D. the development of timelines for implementing the risk strategy - Correct Answers -A.
a review of the goals and objectives of the risk strategy
Which of the following BEST guides an organization's risk management decision-
making process?
