Risk Management Mock exam

What is the primary purpose of risk strategy and planning in PMI-RMP?

• Risk identification

• Risk analysis

• Risk mitigation

• Risk management

Which of the following is NOT a component of risk strategy and planning?

• Risk identification
• Risk assessment
• Risk monitoring
• Risk response planning

What is the first step in risk strategy and planning?

• Risk assessment
• Risk response planning
• Risk identification
• Risk monitoring

Which document is typically created as a part of risk strategy and planning in PMI-RMP?

• Risk register
• Project charter
• Stakeholder analysis
• Project scope statement

Which risk strategy involves accepting the potential risk without taking any action?

• Risk avoidance
• Risk transfer
• Risk mitigation
• Risk acceptance

In risk strategy and planning, what does the term "Risk Tolerance" refer to?

• The willingness to take risks
• The likelihood of a risk occurring
• The impact of a risk
• The probability of risk occurrence

Which risk strategy transfers the risk to a third party, such as insurance?

• Risk avoidance
• Risk acceptance
• Risk transfer
• Risk mitigation

What is the purpose of a risk response plan in risk strategy and planning?

• To identify risks
• To avoid all risks
• To manage and respond to identified risks
• To transfer all risks to stakeholders

Which technique is often used for qualitative risk analysis in risk strategy and planning?

• Monte Carlo simulation
• Expected monetary value (EMV)
• Risk probability and impact assessment
• Decision tree analysis

Which risk strategy involves changing the project plan to eliminate the risk?

• Risk avoidance
• Risk transfer
• Risk acceptance
• Risk mitigation