RIMS CRMP EXAM PREP/COMPREHENSIVE GUIDE/ QUESTIONS AND
RIMS-CRMP
CORRECT ANSWERS (VERIFIED ANSWERS) | GRADED A+ | LATEST
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EXAM | JUST RELEASED
1. Six steps of im- 1. Identify risks and opportunities
plementing risk 2. Analyze risk
process 3. Evaluate risk
4. Consult and create risk solutions
5. Monitor risk
6. Advise on RM
2. What methods 1. Brainstorming
can be used to 2. Checklists
find and recog- 3. Interview and self-assessment
nize risks? 4. Facilitated workshops
5. Risk questionnaires and surveys
6. Scenario analysis
7. Value chain analysis
8. System design review
9. Process analysis
10. Benchmarking
3. What are the two 1. Finding and recognizing risks
steps of identify- 2. Recording risks and opportunities using a risk register
ing risks and op-
portunities
4. What categories 1. Likelihood
are considered 2. Consequences
when analyzing 3. Timing
risks 4. Duration
5. Vulnerability
6. Interdependencies
5. Qualitative RM - SWOT (Strengths, Weaknesses, Opportunities, Threats
analysis methods - PESTLE (Political, Economic, Sociological, Technical, Legal, Environmental)
, RIMS-CRMP
Study online at https://quizlet.com/_hedax5
- Risk matrix
- Decision tree
- Bowtie
- Delphi
- Scenario
- Influence
- Threat modeling
- Vulnerability assessment
- Root cause
- HAZOP (Hazard and operability)
6. Quantitative RM - Monte Carlo
analysis methods - Sensitivity analysis
- Probability
7. What are the five 1. Combine results from analysis with measures of risk appetite and tolerance
steps of evaluat- levels
ing risk 2. Establish definitions of what is significant to the org
3. Create thresholds to determine if risk appetite and tolerance have been exceed-
ed or not yet met
4. Interpret results of risk analysis interdependencies among and between risks
5. Compile an enterprise risk profile
8. What is an enter- A document or framework that IDs and analyzes the various risks an org faces
prise risk profile across all its activities and operations
9. What are the 1. Risk ID
components of 2. Risk assessment
an enterprise risk 3. Risk response
profile 4. Control activities
5. Monitoring and reporting
10.
, RIMS-CRMP
Study online at https://quizlet.com/_hedax5
What parts of 1. Risk assessment
an enterprise risk 2. Risk appetite
profile should be 3. Risk tolerance
communicated 4. Control process
11. When should a When consulting and creating risk solutions
risk treatment
plan be devel-
oped
12. What is a risk A document that outlines strategies and actions to address identified risks which
treatment plan aims to reduce likelihood or impact
13. What methods - Avoidance
are used in the - Transfer
development of - Acceptance
a risk treatment - Mitigation
plan
14. What are the 1. ID and asses risks
steps to develop 2. Determine risk treatment options
a risk treatment 3. Develop and document the plan
plan
15. What are the el- 1. Rationale
ements of a risk 2. Expected benefits
treatment plan 3. Accountability and responsibility for approving and implementing the plan
4. Proposed actions and timeline
5. Resources required including constraints and contingencies
6. Performance validating solutions are working as planned
7. Required reporting and monitoring of risks as part of normal business activity
and reporting
8. Frame the issue
RIMS-CRMP
CORRECT ANSWERS (VERIFIED ANSWERS) | GRADED A+ | LATEST
Study online at https://quizlet.com/_hedax5
EXAM | JUST RELEASED
1. Six steps of im- 1. Identify risks and opportunities
plementing risk 2. Analyze risk
process 3. Evaluate risk
4. Consult and create risk solutions
5. Monitor risk
6. Advise on RM
2. What methods 1. Brainstorming
can be used to 2. Checklists
find and recog- 3. Interview and self-assessment
nize risks? 4. Facilitated workshops
5. Risk questionnaires and surveys
6. Scenario analysis
7. Value chain analysis
8. System design review
9. Process analysis
10. Benchmarking
3. What are the two 1. Finding and recognizing risks
steps of identify- 2. Recording risks and opportunities using a risk register
ing risks and op-
portunities
4. What categories 1. Likelihood
are considered 2. Consequences
when analyzing 3. Timing
risks 4. Duration
5. Vulnerability
6. Interdependencies
5. Qualitative RM - SWOT (Strengths, Weaknesses, Opportunities, Threats
analysis methods - PESTLE (Political, Economic, Sociological, Technical, Legal, Environmental)
, RIMS-CRMP
Study online at https://quizlet.com/_hedax5
- Risk matrix
- Decision tree
- Bowtie
- Delphi
- Scenario
- Influence
- Threat modeling
- Vulnerability assessment
- Root cause
- HAZOP (Hazard and operability)
6. Quantitative RM - Monte Carlo
analysis methods - Sensitivity analysis
- Probability
7. What are the five 1. Combine results from analysis with measures of risk appetite and tolerance
steps of evaluat- levels
ing risk 2. Establish definitions of what is significant to the org
3. Create thresholds to determine if risk appetite and tolerance have been exceed-
ed or not yet met
4. Interpret results of risk analysis interdependencies among and between risks
5. Compile an enterprise risk profile
8. What is an enter- A document or framework that IDs and analyzes the various risks an org faces
prise risk profile across all its activities and operations
9. What are the 1. Risk ID
components of 2. Risk assessment
an enterprise risk 3. Risk response
profile 4. Control activities
5. Monitoring and reporting
10.
, RIMS-CRMP
Study online at https://quizlet.com/_hedax5
What parts of 1. Risk assessment
an enterprise risk 2. Risk appetite
profile should be 3. Risk tolerance
communicated 4. Control process
11. When should a When consulting and creating risk solutions
risk treatment
plan be devel-
oped
12. What is a risk A document that outlines strategies and actions to address identified risks which
treatment plan aims to reduce likelihood or impact
13. What methods - Avoidance
are used in the - Transfer
development of - Acceptance
a risk treatment - Mitigation
plan
14. What are the 1. ID and asses risks
steps to develop 2. Determine risk treatment options
a risk treatment 3. Develop and document the plan
plan
15. What are the el- 1. Rationale
ements of a risk 2. Expected benefits
treatment plan 3. Accountability and responsibility for approving and implementing the plan
4. Proposed actions and timeline
5. Resources required including constraints and contingencies
6. Performance validating solutions are working as planned
7. Required reporting and monitoring of risks as part of normal business activity
and reporting
8. Frame the issue
