RIMS-CRMP
Vocab/Definitions with
100% correct answers
( GUARANTEED
SUCCESS )
Benchmarking - answer The process of measuring the
performance of an organization against external standards of
reference that frequently come from similar organizations doing
similar things.
Corporate Governance - answer The system of rules, practices,
and processes by which a company is directed and controlled.
Enterprise Risk Management - answer 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
Gap Analysis - answer Comparison of an existing process or
procedure (current state-what is) to a desired, future state (what
should be) in order to identify deficiencies or excesses in the
existing process (what to consider).
, Key Performance Indicators (KPIs) - answer Measure(s) of
deviations from expected outcomes to help a firm see how it is
performing.
Key Risk Indicators (KRIs) - answer Leading indicator(s) of risk to
business performance, giving early warning about potential risks.
PESTLE Analysis - answer Political, Economic, Social,
technological, Legal and Environmental and identifies the
categories utilized to analyze internal and external environments.
Risk - answer The effect of uncertainty of objectives.
Risk Attitude - answer An organization's or individual's
view/perspective of the perceived qualitative and quantitative
value that may be gained in comparison to the related potential
loss or losses.
Risk Appetite - answer The total exposed amount that an
organization wishes to undertake on the basis of risk-return trade-
offs for one or more desired and expected outcomes.
Risk Culture - answer The beliefs, values, norms, and traditions of
behavior of individuals and groups within an organization that
determine the way in which they identify, understand, discuss,
and act on the risk(s) the organization confronts and takes.
Vocab/Definitions with
100% correct answers
( GUARANTEED
SUCCESS )
Benchmarking - answer The process of measuring the
performance of an organization against external standards of
reference that frequently come from similar organizations doing
similar things.
Corporate Governance - answer The system of rules, practices,
and processes by which a company is directed and controlled.
Enterprise Risk Management - answer 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
Gap Analysis - answer Comparison of an existing process or
procedure (current state-what is) to a desired, future state (what
should be) in order to identify deficiencies or excesses in the
existing process (what to consider).
, Key Performance Indicators (KPIs) - answer Measure(s) of
deviations from expected outcomes to help a firm see how it is
performing.
Key Risk Indicators (KRIs) - answer Leading indicator(s) of risk to
business performance, giving early warning about potential risks.
PESTLE Analysis - answer Political, Economic, Social,
technological, Legal and Environmental and identifies the
categories utilized to analyze internal and external environments.
Risk - answer The effect of uncertainty of objectives.
Risk Attitude - answer An organization's or individual's
view/perspective of the perceived qualitative and quantitative
value that may be gained in comparison to the related potential
loss or losses.
Risk Appetite - answer The total exposed amount that an
organization wishes to undertake on the basis of risk-return trade-
offs for one or more desired and expected outcomes.
Risk Culture - answer The beliefs, values, norms, and traditions of
behavior of individuals and groups within an organization that
determine the way in which they identify, understand, discuss,
and act on the risk(s) the organization confronts and takes.
