ARM 401 - CHAPTER 1 QUESTIONS
WITH DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS)
A decentralized data-storage technology and real-time
ledger that contains a secure history of transactions,
facilitating secure transactions without the need for a
third party. - correct answer- Blockchain
Technology
A device that detects and measures stimuli in its
environment - correct answer- Sensor
A process that originates with an assumption about what
caused an event or a failure. Working downward from the
assumption (the top event), a diagram is used to connect
the factors that caused the failure and determine how to
devise methods to prevent similar failures in the future. -
correct answer- Fault Tree Analysis
A risk management technique that is much broader in
scope, examining all areas of the business, not just hazard
, risks (but also strategic, financial and operational). -
correct answer- Holistic Risk Management
a statistical computer model that simulates the effects
that various types of uncertainty may have on a process -
correct answer- Monte Carlo Simulation
A technology that simulates human vision - correct
answer- Computer Vision
A technology that uses radio frequency to identify objects
- correct answer- Radio Frequency Identification
(RFID)
A template depicting the likelihood and potential
impact/consequences of risks - correct answer-
Risk Map
A tool developed at the risk owner level that links specific
activities, processes, projects or plans to a list of identified
risks and results of risk analysis and evaluation and that is
WITH DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS)
A decentralized data-storage technology and real-time
ledger that contains a secure history of transactions,
facilitating secure transactions without the need for a
third party. - correct answer- Blockchain
Technology
A device that detects and measures stimuli in its
environment - correct answer- Sensor
A process that originates with an assumption about what
caused an event or a failure. Working downward from the
assumption (the top event), a diagram is used to connect
the factors that caused the failure and determine how to
devise methods to prevent similar failures in the future. -
correct answer- Fault Tree Analysis
A risk management technique that is much broader in
scope, examining all areas of the business, not just hazard
, risks (but also strategic, financial and operational). -
correct answer- Holistic Risk Management
a statistical computer model that simulates the effects
that various types of uncertainty may have on a process -
correct answer- Monte Carlo Simulation
A technology that simulates human vision - correct
answer- Computer Vision
A technology that uses radio frequency to identify objects
- correct answer- Radio Frequency Identification
(RFID)
A template depicting the likelihood and potential
impact/consequences of risks - correct answer-
Risk Map
A tool developed at the risk owner level that links specific
activities, processes, projects or plans to a list of identified
risks and results of risk analysis and evaluation and that is
