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RIMS CRMP 2026 EXAM COMPLETE (96)
CURRENT TESTING QUESTIONS AND
DETAILED CORRECT
ANSWERS|GUARANTEED PASS.
RIMS CRMP
Prepare for the RIMS CRMP Exam with this concise study
resource covering enterprise risk management principles,
governance, and risk assessment concepts. It reinforces key
topics aligned with standards from the Risk and Insurance
Management Society. Suitable for professionals preparing for
the Certified Risk Management Professional certification exam.
The process of measuring the performance of an
organization against external standards of reference that
frequently come from similar organizations doing similar
things. ✓ ✓ ...... ANSWER ....... Benchmarking
The system of rules, practices and processes by which a
company is directed and controlled ✓ ✓ ...... ANSWER
....... Corporate governance
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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.
Strategy: Consider all risks and exploit risks as part of
strategy
Measurement: Include Upside of Risk (Bugalla and Kugler)
Look at building, expanding, exploiting to add value
Push and Pull risk performance data
This approach is Coordinated & Strategic ✓ ✓ ......
ANSWER ....... Enterprise risk management
Comparison of an existing process or procedure to
recognized standards in order to identify deficiencies or
excesses in the existing process.
Technique that can be used to determine what steps might
need to be taken to improve the organization's capacity to
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move from a current state to a desired future state. ✓ ✓ ......
ANSWER ....... Gap analysis
An activity that signals the achievement of organizational
objectives ✓ ✓ ...... ANSWER ....... Key performance
indicator (KPI)
A measurement of how risk and volatility relate to achieving
organizational objectives
Designed to manage the downside of risk
Leading indicators of risk to business performance; giving
early warning of potential risk
early signal of changes in risk exposures in various areas of
the enterprise ✓ ✓ ...... ANSWER ....... Key risk indicator
(KRI)
Integrated into the performance objectives of the
organization for monitoring risks
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Examples: KPIs and KRIs ✓ ✓ ...... ANSWER ....... Risk
Metrics
Contractual obligation placed on the indemnifier to return
the indemnified to essentially the same financial condition
that existed prior to the loss or claim, to stand in as the
source for financing the legal liability ✓ ✓ ...... ANSWER
....... Indemnification
A legally binding agreement between two parties whereby
one agrees to indemnify and hold another party harmless for
specified actions, inactions, injuries or damages ✓ ✓ ......
ANSWER ....... Contractual Risk Transfer
wording that requires one party to shield the other party from
the effects of the legal liability assignable to transfer or
obligor ✓ ✓ ...... ANSWER ....... Hold Harmless
Action taken when 1) costs of retaining risks exceeds the
organization's risk tolerance; 2) risks (or some portion) can
be transferred at a lower cost; 3) risks should be apportioned
RIMS CRMP 2026 EXAM COMPLETE (96)
CURRENT TESTING QUESTIONS AND
DETAILED CORRECT
ANSWERS|GUARANTEED PASS.
RIMS CRMP
Prepare for the RIMS CRMP Exam with this concise study
resource covering enterprise risk management principles,
governance, and risk assessment concepts. It reinforces key
topics aligned with standards from the Risk and Insurance
Management Society. Suitable for professionals preparing for
the Certified Risk Management Professional certification exam.
The process of measuring the performance of an
organization against external standards of reference that
frequently come from similar organizations doing similar
things. ✓ ✓ ...... ANSWER ....... Benchmarking
The system of rules, practices and processes by which a
company is directed and controlled ✓ ✓ ...... ANSWER
....... Corporate governance
, Page 2 of 39
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.
Strategy: Consider all risks and exploit risks as part of
strategy
Measurement: Include Upside of Risk (Bugalla and Kugler)
Look at building, expanding, exploiting to add value
Push and Pull risk performance data
This approach is Coordinated & Strategic ✓ ✓ ......
ANSWER ....... Enterprise risk management
Comparison of an existing process or procedure to
recognized standards in order to identify deficiencies or
excesses in the existing process.
Technique that can be used to determine what steps might
need to be taken to improve the organization's capacity to
, Page 3 of 39
move from a current state to a desired future state. ✓ ✓ ......
ANSWER ....... Gap analysis
An activity that signals the achievement of organizational
objectives ✓ ✓ ...... ANSWER ....... Key performance
indicator (KPI)
A measurement of how risk and volatility relate to achieving
organizational objectives
Designed to manage the downside of risk
Leading indicators of risk to business performance; giving
early warning of potential risk
early signal of changes in risk exposures in various areas of
the enterprise ✓ ✓ ...... ANSWER ....... Key risk indicator
(KRI)
Integrated into the performance objectives of the
organization for monitoring risks
, Page 4 of 39
Examples: KPIs and KRIs ✓ ✓ ...... ANSWER ....... Risk
Metrics
Contractual obligation placed on the indemnifier to return
the indemnified to essentially the same financial condition
that existed prior to the loss or claim, to stand in as the
source for financing the legal liability ✓ ✓ ...... ANSWER
....... Indemnification
A legally binding agreement between two parties whereby
one agrees to indemnify and hold another party harmless for
specified actions, inactions, injuries or damages ✓ ✓ ......
ANSWER ....... Contractual Risk Transfer
wording that requires one party to shield the other party from
the effects of the legal liability assignable to transfer or
obligor ✓ ✓ ...... ANSWER ....... Hold Harmless
Action taken when 1) costs of retaining risks exceeds the
organization's risk tolerance; 2) risks (or some portion) can
be transferred at a lower cost; 3) risks should be apportioned
