PMI-RMP Certification Training - Types of Risks and Examples

The video tutorial explains different types of risks, including pure, static, business, and speculative risks. It emphasizes the importance of distinguishing between risk and issue management, highlighting that risks are preventative while issues are problems that need resolution. The tutorial also covers opportunity risks, which can lead to benefits, and explains the concepts of probability and impact in risk management, including how they are measured.

What type of risk is associated with insuring a car against theft?

• Opportunity risk

• Dynamic risk

• Static risk

• Speculative risk

Which of the following is a characteristic of business risk?

• It is only related to personal injury

• It can result in either a gain or a loss

• It is insurable like static risks

• It always results in a loss

How should risks and issues be managed according to the video?

• They should be managed together

• Risks should be managed before they become issues

• Issues should be ignored until they become risks

• Both should be logged in the same document

What is the main focus of opportunity risks?

• Preventing losses

• Avoiding speculative risks

• Creating benefits

• Managing static risks

How is probability defined in the context of risk management?

• As a fixed value of 1

• As the ratio of expected outcomes to all possible outcomes

• As the effect of a risk event on project objectives

• As the total number of possible outcomes