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RIMS-CRMP EXAM STUDY GUIDE
Questions with Detailed Verified Answers
Benchmarking Ans: 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 Ans: The system of rules, practices and
processes by which a company is directed and controlled.
Enterprise Risk Management Ans: 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 Ans: Comparison of an existing process or procedure to
recognize standards in order to identify deficiencies or excesses in the
existing process.
Key performance indicator (KPI) Ans: As activity that signals the
achievement of organizational objectives, emphasize opportunities and
strategic objectives.
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Key risk indicator (KRI) Ans: designed to manage downside risk. A
measurement of how risk and volatility relate to achieving organizational
objectives,
PESTLE Analysis Ans: PESTLE is an acronym for Political, Economic,
Social, Technology, Legal and Environmental and identifies the categories
utilized to analyze internal and external environments. Other forms of the
acronym include "PEST" and "PESTEL."
Risk Ans: The effect of uncertainty on objectives.
Risk Appetite Ans: 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 Attitude Ans: An organization's or individuals' view/perspective of
the perceived qualitative and quantitative value that may be gained in
comparison to the related potential loss or losses.
Risk Culture Ans: 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.
Risk Champion Ans: Any person in an organization who is a leader and
influences peers regarding the value that risk management adds to the
organization.
Risk governance Ans: The architecture within which risk management
operates in a company
RIMS-CRMP EXAM STUDY GUIDE
Questions with Detailed Verified Answers
Benchmarking Ans: 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 Ans: The system of rules, practices and
processes by which a company is directed and controlled.
Enterprise Risk Management Ans: 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 Ans: Comparison of an existing process or procedure to
recognize standards in order to identify deficiencies or excesses in the
existing process.
Key performance indicator (KPI) Ans: As activity that signals the
achievement of organizational objectives, emphasize opportunities and
strategic objectives.
, Page | 2
Key risk indicator (KRI) Ans: designed to manage downside risk. A
measurement of how risk and volatility relate to achieving organizational
objectives,
PESTLE Analysis Ans: PESTLE is an acronym for Political, Economic,
Social, Technology, Legal and Environmental and identifies the categories
utilized to analyze internal and external environments. Other forms of the
acronym include "PEST" and "PESTEL."
Risk Ans: The effect of uncertainty on objectives.
Risk Appetite Ans: 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 Attitude Ans: An organization's or individuals' view/perspective of
the perceived qualitative and quantitative value that may be gained in
comparison to the related potential loss or losses.
Risk Culture Ans: 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.
Risk Champion Ans: Any person in an organization who is a leader and
influences peers regarding the value that risk management adds to the
organization.
Risk governance Ans: The architecture within which risk management
operates in a company
