API 580 - 4th edition exam questions with
correct answers
How |is |risk |calculated? |- |CORRECT |ANSWER✔✔-Risk |= |Probability |x |Consequence
How |is |risk |typically |reduced? |- |CORRECT |ANSWER✔✔-Mitigation; |The |results |of |inspection |
activities |and/or |process |control
What |is |risk |management? |- |CORRECT |ANSWER✔✔-Identifying |some |risks |as |acceptable |so |
that |no |risk |reduction |is |required |with |the |risk |assessment |time |frame
What |is |absolute |risk? |- |CORRECT |ANSWER✔✔-An |ideal |and |precise |description |and |
quantification |of |risk
What |is |relative |risk? |- |CORRECT |ANSWER✔✔-The |comparative |risk |or |component |of |a |facility,
|process |unit, |system, |equipment |item
What |is |a |Failure |defined |as? |- |CORRECT |ANSWER✔✔-A |loss |of |containment
What |does |COF |stand |for? |- |CORRECT |ANSWER✔✔-Consequence |of |failure
What |does |POF |stand |for? |- |CORRECT |ANSWER✔✔-Probability |of |failure
When |determining |the |consequence |of |failure, |what |3 |things |are |generally |true? |- |CORRECT |
ANSWER✔✔-1) |There |may |be |one |or |more |consequence |from |an |event
2) |Consequences |are |always |negative |for |safety |aspects
correct answers
How |is |risk |calculated? |- |CORRECT |ANSWER✔✔-Risk |= |Probability |x |Consequence
How |is |risk |typically |reduced? |- |CORRECT |ANSWER✔✔-Mitigation; |The |results |of |inspection |
activities |and/or |process |control
What |is |risk |management? |- |CORRECT |ANSWER✔✔-Identifying |some |risks |as |acceptable |so |
that |no |risk |reduction |is |required |with |the |risk |assessment |time |frame
What |is |absolute |risk? |- |CORRECT |ANSWER✔✔-An |ideal |and |precise |description |and |
quantification |of |risk
What |is |relative |risk? |- |CORRECT |ANSWER✔✔-The |comparative |risk |or |component |of |a |facility,
|process |unit, |system, |equipment |item
What |is |a |Failure |defined |as? |- |CORRECT |ANSWER✔✔-A |loss |of |containment
What |does |COF |stand |for? |- |CORRECT |ANSWER✔✔-Consequence |of |failure
What |does |POF |stand |for? |- |CORRECT |ANSWER✔✔-Probability |of |failure
When |determining |the |consequence |of |failure, |what |3 |things |are |generally |true? |- |CORRECT |
ANSWER✔✔-1) |There |may |be |one |or |more |consequence |from |an |event
2) |Consequences |are |always |negative |for |safety |aspects
