RIMS-CRMP EXAM 2024 Expected Questions and Answers (Verified by Expert)
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Course
EKG NHA
Institution
EKG NHA
RIMS-CRMP EXAM 2024 Expected Questions and Answers (Verified by Expert)
RIMS-CRMP EXAM 2024 Expected Questions and Answers (Verified by Expert)
RIMS-CRMP EXAM 2024 Expected Questions and Answers (Verified by Expert)
RIMS-CRMP EXAM STUDY GUIDE
1. Benchmarking ANS ...
1. 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.
2. Corporate Governance ANS The system of rules, practices and
processes by which a company is directed and controlled.
3. Enterprise Risk Management ANS A strategic discipline that supports
the achieve- ment 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.
4. Gap Analysis ANS Comparison of an existing process or procedure
to recognize standards in order to identify deficiencies or excesses in
the existing process.
5. Key performance indicator (KPI) ANS As activity that signals the
achievement of organizational objectives, emphasize opportunities
1/
, and strategic objectives.
6. Key risk indicator (KRI) ANS designed to manage downside risk. A
measurement of how risk and volatility relate to achieving
organizational objectives,
7. PESTLE Analysis ANS PESTLE is an acronym for Political, Economic,
Social, Tech- nology, Legal and Environmental and identifies the
categories utilized to analyze internal and external environments.
Other forms of the acronym include "PEST" and "PESTEL."
8. Risk ANS The effect of uncertainty on objectives.
9. Risk Appetite ANS The total exposed amount that an organization
wishes to under- take on the basis of risk return trade-offs for one or
more desired and expected outcomes
10.Risk Attitude ANS An organization's or individuals' view/perspective
of the per- ceived qualitative and quantitative value that may be
gained in comparison to the related potential loss or losses.
11.Risk Culture ANS The beliefs, values, norms and traditions of
behavior of individu- als and groups within an organization that
determine the way in which they identify, understand, discuss and act
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