RIMS-CRMP EXAM STUDY GUIDE
Benchmarking CORRECT ANSWERS 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 CORRECT ANSWERS The system of rules, practices and
processes by which a company is directed and controlled.
Enterprise Risk Management CORRECT ANSWERS 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 CORRECT ANSWERS Comparison of an existing process or procedure
to recognize standards in order to identify deficiencies or excesses in the existing
process.
When defining the success measures for the organization's risk strategy, the risk
management professional will include which of the following steps? CORRECT
ANSWERS A review of the goals and objectives of the risk strategy
Which of the following is considered a risk analysis technique? CORRECT ANSWERS
Monte Carlo Simulation
When an operational area develops a treatment for a critical risk, the risk management
professional MUST CORRECT ANSWERS evaluate the impact upon other areas
A risk management professional advises management on the status of key risks by
CORRECT ANSWERS providing insights into the changing characteristics of a risk
Key performance indicator (KPI) CORRECT ANSWERS As activity that signals the
achievement of organizational objectives, emphasize opportunities and strategic
objectives.
Key risk indicator (KRI) CORRECT ANSWERS designed to manage downside risk. A
measurement of how risk and volatility relate to achieving organizational objectives,
PESTLE Analysis CORRECT ANSWERS 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."
Benchmarking CORRECT ANSWERS 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 CORRECT ANSWERS The system of rules, practices and
processes by which a company is directed and controlled.
Enterprise Risk Management CORRECT ANSWERS 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 CORRECT ANSWERS Comparison of an existing process or procedure
to recognize standards in order to identify deficiencies or excesses in the existing
process.
When defining the success measures for the organization's risk strategy, the risk
management professional will include which of the following steps? CORRECT
ANSWERS A review of the goals and objectives of the risk strategy
Which of the following is considered a risk analysis technique? CORRECT ANSWERS
Monte Carlo Simulation
When an operational area develops a treatment for a critical risk, the risk management
professional MUST CORRECT ANSWERS evaluate the impact upon other areas
A risk management professional advises management on the status of key risks by
CORRECT ANSWERS providing insights into the changing characteristics of a risk
Key performance indicator (KPI) CORRECT ANSWERS As activity that signals the
achievement of organizational objectives, emphasize opportunities and strategic
objectives.
Key risk indicator (KRI) CORRECT ANSWERS designed to manage downside risk. A
measurement of how risk and volatility relate to achieving organizational objectives,
PESTLE Analysis CORRECT ANSWERS 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."
