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RISK MANAGEMENT EXAM QUESTIONS AND ANSWERS What are the primary categories of barriers to effective risk management? - answer- Structural, cognitive, and cultural. The primary categories of barriers to effective risk management are structural, cognitive, and cultural. An organization's structure, willingness to change, and values will impact its willingness to engage in risk management. Time, money, and resources and location, personnel, and equipment may be impacted by risk management eff...

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Risk Management Basic Course Exam Questions and Answers

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Risk Management Basic Course Exam Questions and Answers What is a negative but common trend associated with hazard assessment? - answer- To underestimate the hazard's severity Which of the following describes hazards of a "likely" probability level, according to the Risk Assessment Matrix? - answer- The event is expected to occur several or numerous times. What is the correct definition of "residual risk level"? - answer- The risk level estimate of the hazard after the co...

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RISK MANAGEMENT QUESTIONS AND ANSWERS

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RISK MANAGEMENT QUESTIONS AND ANSWERS A project manager has just started the risk management process on a project. Which of the following statements accurately describes the objectives of risk management on a project? A) Risk management is done to increase the probability and/or impact of positive risks. B) Risk management is done to decrease negative risks' probability and/or impact. C) Risk management is done to minimize all risks. D) Risk management increases the probability and/o...

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RISK MANAGEMENT MODULE 1 EXAM QUESTIONS AND ANSWERS

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RISK MANAGEMENT MODULE 1 EXAM QUESTIONS AND ANSWERS Risk - answer- uncertainty regarding loss There are different magnitudes of risk based on the ________ _____. - answer- decision maker decision makers include: - answer- organizations, society, individuals Danger does not _____ risk. Information does not _____ risk. . - answer- equal; alter to The Scientific View of Risk's definition of risk: - answer- the probability of a person suffering an adverse effect from an activity or...

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RISK MANAGEMENT SET EXAM QUESTIONS AND ANSWERS

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RISK MANAGEMENT SET EXAM QUESTIONS AND ANSWERS How is risk defined within Risk Management? - answer- Risk is defined as the possibility of loss or injury due to exposure to a hazard What is the first choice in the standard of order of precedence for RM controls? - answer- The standard order of precedence for controls is to first use design and engineering solutions to achieve minimum risk. Less desirable control options are to add safety devices, warming devices, or change procedures and t...

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RISK MANAGEMENT EXAM 1 QUESTIONS AND ANSWERS

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RISK MANAGEMENT EXAM 1 QUESTIONS AND ANSWERS A situation where an individual or business is exposed to the chance of experiencing a loss. - answer- Risk A situation where there is a chance of loss; there is uncertainty as to whether or not a loss will occur. - answer- Pure Risk A situation where there is a chance of loss or no loss, plus the possibility of gain. - answer- Speculative Risk Perceived amount of risk based on opinion rather that verifiable data - answer- Subjective Risk ...

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RISK MANAGEMENT EXAM 2 QUESTIONS AND ANSWERS

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RISK MANAGEMENT EXAM 2 QUESTIONS AND ANSWERS What is risk management? - answer- The process of identifying, assessing, and controlling risks arising from operational factors and making decisions that balance risk cost with mission benefits. What is the focus of risk mitigation controls? - answer- Mission accomplishment with minimal adverse impact on realistic training. What are the 4 Principles of RM? - answer- 1. Integrate RM into all phases of missions and ops 2. Make risk decisions ...

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RISK MANAGEMENT EXAM QUESTIONS AND ANSWERS

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RISK MANAGEMENT EXAM QUESTIONS AND ANSWERS Define RM - answer- RM is a decision-making process to systematically evaluate possible courses of action, identify risks and benefits, and determine the best course of action (COA) for any given situation. State the goals of RM - answer- -Enhance mission effectiveness at all levels, while preserving assets and safeguarding health and welfare. • Create an Air Force cultural mindset in which every leader, Airman, and employee is trained ...

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RISK MANAGEMENT • RISK MANAGEMENT

RISK MANAGEMENT EXAM QUESTIONS AND ANSWERS

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RISK MANAGEMENT EXAM QUESTIONS AND ANSWERS What publication covers risk management? - answer- AR 100-14 What is risk management? - answer- Risk management is the process of identifying, assessing, and controlling risks arising from operational factors and making decisions that balance risk costs with mission benefits. What are the principles that provide a framework for implementing the risk management process? - answer- a. Integrating risk management into mission planning, preparation,...