ARM 401 EXAM WITH COMPLETE
QUESTIONS AND ANSWERS { GRADED
A+}
Brenda is the new risk manager at Telecom Company. She did a preliminary
analysis to identify organizational risks. Brenda then scheduled a meeting of the
organization's leaders, key employees, and other stakeholders. Brenda asked her
assistant, Brian, to moderate the session since he is skilled in risk identification,
and he is a skilled communicator as well. Brian encouraged brainstorming, and
asked follow-up questions. After the session, Brenda and her risk management
colleagues had a much deeper understanding of Telecom's risks. The technique that
Brenda applied is called a
Select one:
A. SWOT analysis.
B. Group-think.
,C. Delphi technique session.
D. Facilitated workshop. -✔✔ D
William is a project manager for Parker International. He has been assigned a key
project with a short deadline. William realizes that this project is going to require
revising the job duties of some individuals and a collaborative effort from of all
team members. When revising job duties, William should do which one of the
following?
Select one:
A. Overload some individuals with more work than others
B. Rely on the most senior individuals to take on additional duties
C. Focus on the individuals' personality rather than results
D. Try to enrich individuals' work rather than merely expand it -✔✔ D
Emma is a risk management professional at a chemical engineering organization.
A new process is being designed and Emma has been told that all risks must be
identified and eliminated during the design stage. Emma is a risk management
professional, but not a chemical engineering expert. She has assembled a team of
engineering experts and stakeholders to identify the risk associated with the
,process by subdividing the process into components and reviewing each
component and then recommend solutions. Which one of the following team
approaches to risk identification has Emma chosen?
Select one:
A. Scenario analysis
B. SWOT analysis
C. HAZOP approach
D. Delphi technique -✔✔ C
Which one of the following risk assessment tools has the potential to identify both
negative risks and opportunity risks?
Select one:
A. Risk maps
B. Cause and effect analysis
C. Failure mode and effects analysis
D. Audits -✔✔ D
, After a month in which three employees were seriously injured at company paper
mills, Ashley, the risk manager of Bright White Paper Company, wanted some
answers about the causes of employee injuries. Ashley independently contacted the
plant manager and foreman at each of the company's plants. She asked each person
to complete a confidential questionnaire regarding safety procedures. After
receiving the responses to the questionnaire, Ashley summarized the results and
asked the same questions again instructing each person to consider revising their
responses based on the initial questionnaire results. The analysis revealed that new
workers were not being properly trained and that a lax attitude toward safety was
present at the majority of the plants. The team approach to risk identification
Ashley employed is called
Select one:
A. HAZOP analysis
B. Scenario analysis.
C. SWOT analysis.
D. The Delphi technique. -✔✔ D
Home Appliance Company has decided to change its production method.
Previously, small teams of workers assembled washers, dryers, and dishwashers.
QUESTIONS AND ANSWERS { GRADED
A+}
Brenda is the new risk manager at Telecom Company. She did a preliminary
analysis to identify organizational risks. Brenda then scheduled a meeting of the
organization's leaders, key employees, and other stakeholders. Brenda asked her
assistant, Brian, to moderate the session since he is skilled in risk identification,
and he is a skilled communicator as well. Brian encouraged brainstorming, and
asked follow-up questions. After the session, Brenda and her risk management
colleagues had a much deeper understanding of Telecom's risks. The technique that
Brenda applied is called a
Select one:
A. SWOT analysis.
B. Group-think.
,C. Delphi technique session.
D. Facilitated workshop. -✔✔ D
William is a project manager for Parker International. He has been assigned a key
project with a short deadline. William realizes that this project is going to require
revising the job duties of some individuals and a collaborative effort from of all
team members. When revising job duties, William should do which one of the
following?
Select one:
A. Overload some individuals with more work than others
B. Rely on the most senior individuals to take on additional duties
C. Focus on the individuals' personality rather than results
D. Try to enrich individuals' work rather than merely expand it -✔✔ D
Emma is a risk management professional at a chemical engineering organization.
A new process is being designed and Emma has been told that all risks must be
identified and eliminated during the design stage. Emma is a risk management
professional, but not a chemical engineering expert. She has assembled a team of
engineering experts and stakeholders to identify the risk associated with the
,process by subdividing the process into components and reviewing each
component and then recommend solutions. Which one of the following team
approaches to risk identification has Emma chosen?
Select one:
A. Scenario analysis
B. SWOT analysis
C. HAZOP approach
D. Delphi technique -✔✔ C
Which one of the following risk assessment tools has the potential to identify both
negative risks and opportunity risks?
Select one:
A. Risk maps
B. Cause and effect analysis
C. Failure mode and effects analysis
D. Audits -✔✔ D
, After a month in which three employees were seriously injured at company paper
mills, Ashley, the risk manager of Bright White Paper Company, wanted some
answers about the causes of employee injuries. Ashley independently contacted the
plant manager and foreman at each of the company's plants. She asked each person
to complete a confidential questionnaire regarding safety procedures. After
receiving the responses to the questionnaire, Ashley summarized the results and
asked the same questions again instructing each person to consider revising their
responses based on the initial questionnaire results. The analysis revealed that new
workers were not being properly trained and that a lax attitude toward safety was
present at the majority of the plants. The team approach to risk identification
Ashley employed is called
Select one:
A. HAZOP analysis
B. Scenario analysis.
C. SWOT analysis.
D. The Delphi technique. -✔✔ D
Home Appliance Company has decided to change its production method.
Previously, small teams of workers assembled washers, dryers, and dishwashers.
