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RIMS CRMP EXAM STUDY GUIDE
QUESTIONS AND ANSWERS
A "Learning" Organization - correct answer-
supports constructive criticism and healthy debates
ADIDS - correct answer- 1. Analyze the Business
Model
2. Design Organization Risk Strategies
3. Implementing Risk Process
4. Developing Organizational Risk Competency
5. Supporting Decision Making
Analysis - correct answer- 1. A systematic
examination and evaluation of data or information, by
breaking it into its component parts to uncover their
interrelationships. Opposite of Synthesize.
,2. An examination of data and facts to uncover and
understand cause-effect relationships, thus providing
basis for problem solving and decision making.
Articulate Learning Objectives - correct answer-
What do Learning objectives address?
How do learning objectives function?
How are learning objectives communicated?
Benchmarking - correct answer- The process of
measuring the performance of an organization against
external standards of reference that frequently come
from similar organizations doing similar things.
Bow Tie Analysis - correct answer- Cause &
Consequence
Hazard Analysis Technique
Looks like a Bow Tie
Explains potential consequences with or without specific
preventative controls in place
,Event - Preventative Control - Cause
Event - Reactive Control - Consequence
Business Impact Analysis - correct answer- BIA
Considers business impacts at a location or from a specific
process based on a certain scenario or from a supply chain
failure
Business disruption risks can be measure against other
risks an enterprise may face
Coaching Differs from Training - correct answer-
Style, Approach, and Structure
Components of Good Risk Governance - correct
answer- Components of Good Risk Governance
include:
Risk Ownership & Accountability
Risk Oversight by the Board
, Conduct Risk - correct answer- comprises a
wide variety of activities and types of behavior that fall
outside other main categories of risk (market, credit,
liquidity, operational risk). Refers to risks attached to the
way a firm behaves in a wide range of market-facing and
internal situations. No official definition. Generally agreed
to incorporate matters such as how customers are
treated, remuneration of staff, and how firms deal with
conflicts of Interest.
Ernst and Young "Risk Culture: Much Ado about
something"
Continuous Improvement Model to Risk Management -
correct answer- Plan - Do - Check - Act Model
(PDCA)
aka Deming Cycle
aka Shewhart Cycle
RIMS CRMP EXAM STUDY GUIDE
QUESTIONS AND ANSWERS
A "Learning" Organization - correct answer-
supports constructive criticism and healthy debates
ADIDS - correct answer- 1. Analyze the Business
Model
2. Design Organization Risk Strategies
3. Implementing Risk Process
4. Developing Organizational Risk Competency
5. Supporting Decision Making
Analysis - correct answer- 1. A systematic
examination and evaluation of data or information, by
breaking it into its component parts to uncover their
interrelationships. Opposite of Synthesize.
,2. An examination of data and facts to uncover and
understand cause-effect relationships, thus providing
basis for problem solving and decision making.
Articulate Learning Objectives - correct answer-
What do Learning objectives address?
How do learning objectives function?
How are learning objectives communicated?
Benchmarking - correct answer- The process of
measuring the performance of an organization against
external standards of reference that frequently come
from similar organizations doing similar things.
Bow Tie Analysis - correct answer- Cause &
Consequence
Hazard Analysis Technique
Looks like a Bow Tie
Explains potential consequences with or without specific
preventative controls in place
,Event - Preventative Control - Cause
Event - Reactive Control - Consequence
Business Impact Analysis - correct answer- BIA
Considers business impacts at a location or from a specific
process based on a certain scenario or from a supply chain
failure
Business disruption risks can be measure against other
risks an enterprise may face
Coaching Differs from Training - correct answer-
Style, Approach, and Structure
Components of Good Risk Governance - correct
answer- Components of Good Risk Governance
include:
Risk Ownership & Accountability
Risk Oversight by the Board
, Conduct Risk - correct answer- comprises a
wide variety of activities and types of behavior that fall
outside other main categories of risk (market, credit,
liquidity, operational risk). Refers to risks attached to the
way a firm behaves in a wide range of market-facing and
internal situations. No official definition. Generally agreed
to incorporate matters such as how customers are
treated, remuneration of staff, and how firms deal with
conflicts of Interest.
Ernst and Young "Risk Culture: Much Ado about
something"
Continuous Improvement Model to Risk Management -
correct answer- Plan - Do - Check - Act Model
(PDCA)
aka Deming Cycle
aka Shewhart Cycle
