RIMS – CRMP STUDYGUIDE EXAM WITH
CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS
LATEST ALREADY GRADED A+
Financial Statements - ANSWERS-Internal source of
information that includes financial analytics or projections
strategic planning team - ANSWERS-The risk manager
should be a part of the _______________________ to
provide the structure discipline for consideration of risks in
a strategic portfolio.
Internal Audit Reports - ANSWERS-Internal source of
information that focuses on business practices important to
the goals and reflection of regulatory environment of the
organization
risk management - ANSWERS-__________________ should
be an agenda item at every strategy session.
,Support Function: Facilities - ANSWERS-Risk identification,
assessment and treatment of the organization's properties,
equipment and physical infrastructure systems.
Simple and frequent - ANSWERS-A type of decision that are
automatic, taken in the moment. These decisions generally
rely on the knowledge and capability of the decision maker
using the back-of-the-napkin technique.
Bow tie analysis - ANSWERS-hazard analysis technique
(cause and consequence)
Business impact analysis - ANSWERS-consider business
impacts at a location or from a specific process
Support Functions: Quality - ANSWERS-Risk identification,
assessment and treatment of risks related to products and
services.
Significant importance or complex - ANSWERS-A type of
decision that require more deliberate effort. These decisions
generally have some period of planning and a longer
decision timeline.
,Organizational Structure - ANSWERS-Internal source of
information that reports from different departments (HR,
Legal, risk, operations, HS, environment, etc.)
Review the existing strategic plan - ANSWERS-The first step
for the risk manager is to __________________________ to
identify and understand the organization's goals.
key performance indicators - ANSWERS-Each high-level
strategy objective should be broken down into more
tactical, operational _____________________ for analysis.
External Organization Information - ANSWERS-External
source of information that includes external audit reports,
competitive analysis, rating agency, consumer reports, legal
matters, media coverage
Strategic importance and complex - ANSWERS-A type of
decision that call for formal planning process over a longer
timeline in which multiple risk management techniques can
be applied. Decision quality elements should be embedded
in the process. Due to the importance of the decision, biases
should be formally considered by the entire planning team.
, Support Function: Project Management - ANSWERS-Assess
and identify project risks, mitigate threats and capitalize on
opportunities that my affect the success of a specific
project.
Gap analysis - ANSWERS-determine steps to improve the
organization's capacity to move from a current state to a
desired, future state. (current available factors, success
factors needed to achieve future desired objectives,
highlighting the gaps)
How to obtain the real story aside from reading
information? - ANSWERS-Talk to those inside the
organization; Talk with external stakeholders ; Do site visits
assumptions - ANSWERS-The risk manager can then identify
________________ made by management when developing
these goals.
Root Cause Analysis - ANSWERS-multiple techniques
designed to identify the underlying or initiating risk sources
or drivers. (fault tree analysis, event tree analysis, failure
CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS
LATEST ALREADY GRADED A+
Financial Statements - ANSWERS-Internal source of
information that includes financial analytics or projections
strategic planning team - ANSWERS-The risk manager
should be a part of the _______________________ to
provide the structure discipline for consideration of risks in
a strategic portfolio.
Internal Audit Reports - ANSWERS-Internal source of
information that focuses on business practices important to
the goals and reflection of regulatory environment of the
organization
risk management - ANSWERS-__________________ should
be an agenda item at every strategy session.
,Support Function: Facilities - ANSWERS-Risk identification,
assessment and treatment of the organization's properties,
equipment and physical infrastructure systems.
Simple and frequent - ANSWERS-A type of decision that are
automatic, taken in the moment. These decisions generally
rely on the knowledge and capability of the decision maker
using the back-of-the-napkin technique.
Bow tie analysis - ANSWERS-hazard analysis technique
(cause and consequence)
Business impact analysis - ANSWERS-consider business
impacts at a location or from a specific process
Support Functions: Quality - ANSWERS-Risk identification,
assessment and treatment of risks related to products and
services.
Significant importance or complex - ANSWERS-A type of
decision that require more deliberate effort. These decisions
generally have some period of planning and a longer
decision timeline.
,Organizational Structure - ANSWERS-Internal source of
information that reports from different departments (HR,
Legal, risk, operations, HS, environment, etc.)
Review the existing strategic plan - ANSWERS-The first step
for the risk manager is to __________________________ to
identify and understand the organization's goals.
key performance indicators - ANSWERS-Each high-level
strategy objective should be broken down into more
tactical, operational _____________________ for analysis.
External Organization Information - ANSWERS-External
source of information that includes external audit reports,
competitive analysis, rating agency, consumer reports, legal
matters, media coverage
Strategic importance and complex - ANSWERS-A type of
decision that call for formal planning process over a longer
timeline in which multiple risk management techniques can
be applied. Decision quality elements should be embedded
in the process. Due to the importance of the decision, biases
should be formally considered by the entire planning team.
, Support Function: Project Management - ANSWERS-Assess
and identify project risks, mitigate threats and capitalize on
opportunities that my affect the success of a specific
project.
Gap analysis - ANSWERS-determine steps to improve the
organization's capacity to move from a current state to a
desired, future state. (current available factors, success
factors needed to achieve future desired objectives,
highlighting the gaps)
How to obtain the real story aside from reading
information? - ANSWERS-Talk to those inside the
organization; Talk with external stakeholders ; Do site visits
assumptions - ANSWERS-The risk manager can then identify
________________ made by management when developing
these goals.
Root Cause Analysis - ANSWERS-multiple techniques
designed to identify the underlying or initiating risk sources
or drivers. (fault tree analysis, event tree analysis, failure
