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ARM 401 Exam Practice Exam Questions with Correct Answers.
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ARM 401 Exam Practice Exam Questions with Correct Answers.
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ARM v401 vExam vPractice vExam vQuestions vwithvCorrect vAnswers
A vrisk vmap vshowing va vlarge vdifference vbetween vinherent vand vresidual vrisk vindicates vwhich vone
vof vthe vfollowing?
A. vThe vrisk vis vwithin vthe vorganization's vrisk vappetite
B. vThe vcurrent vrisk vtreatment vis vineffective
C. vThe vcurrent vrisk vtreatment vis veffective
D. vThe vrisk vdoes vnot vneed vto vbe vtreated v- vAnswer v- v v vC
Lucas, va vrisk vprofessional vfor vJones vIncorporated, vrecently vmet vwith vexperts vfrom vthe vutility
vindustry vto vdiscuss vthe vpotential vloss vof vsupply vand vrisks vto vthe vinfrastructure. vLucas vmust vnow
vdecide vwhich vrisks, vand vproposed vtreatments, vneed vto vbe vcommunicated vto vthe vboard vof vJones
vIncorporated. vLucas vshould vmake vthis vdecision vbased von
A. vThe vsupply vsource vinvolved.
B. vThe vorganization's vrisk vappetite vand vtolerance vlevels.
C. vWhether vthe vrisk vin vnatural vor vman-made.
D. vWhether vany vgovernment vregulations vare vinvolved vor vnot. v- vAnswer v- v v vB
SoCal vMovie vCompany vproduces vmovies vat va vstudio vin vSouthern vCalifornia. vThe vrisk vmanager
vdecided vto videntify vthe vrange vof vpotential vconsequences vassociated vwith vvarious vrisks vthat vthe
vcompany vfaces. vFor vexample, vif va vsevere vearthquake voccurred vwhile vthe vcompany vwas vfilming va
vmovie, vthere vcould vbe vdeaths vand vinjuries, vdestruction vof vmovie vsets, vdelays vin vproduction,
vcosts vassociated vwith vfilming vat van valternative vlocation, vand vloss vof vreputation vand vgood vwill.
vThe vtype vof vanalysis vperformed vby vthe vrisk vmanager vis vcalled
A. vSWOT vanalysis.
B. vScenario vanalysis.
,C. vSensitivity vanalysis.
D. vHAZOP vanalysis. v- vAnswer v- v v vB
Insurance vCompany v(IC) vsells vits vcoverages vthrough vindependent vinsurance vagents. vIndependent
vagents vrepresent vseveral vinsurance vcompanies. vTom, vthe vpresident vof vIC, vhas vlearned vthat vthe
vindependent vagent vwho vis vthe vhighest vproducer vfor vIC vis vconsidering vselling vhis vagency. vIC vis
vconsidering vacquiring vthe vagency vsince vTom vis vconcerned vthat vif vthe vagency vis vsold, vIC vmay
vlose va vsubstantial vamount vof vbusiness. vTom vasked vIC's vrisk vmanager vto vanalyze vthe vprospective
vpurchase. vThe vanalysis vrevealed vthat vthe vacquisition vwould vlikely vsecure vmost vof vIC's vbook vof
vbusiness vwith vthe vagency vbut valso vrevealed vlocal vcompetitors vthat vwould vtry vto vplace vthe
vbusiness vas vwell. vIn vaddition, vthe vanalysis vrevealed vthe vopportunity vfor vIC vto vmove vsome
vaccounts vcurrently vplaced vwith vother vinsurers vover vto vIC. vAlso, vit vwas vlearned vthat va
vcompetitor vexpressed van vinterest vin vthe vagency vacquisition. vThe vanalysis vperformed vby vthe vrisk
vmanager vis va v- vAnswer v- v v vD
Murray vTrucking vis vinterested vin vevaluating vwhich vrisk vfactors vare vmost vlikely vto vlead vto vthe
vmost vcostly vaccidents. vThey vare vevaluating vrisk vfactors vsuch vas vspeed, vweather vconditions,
vdriver vexperience, vdistance vtraveled, vand vgross vvehicle vweight. vWhich vone vof vthe vfollowing
vstatistical vmeasurements vwould vbe vuseful vfor vthe vrisk vmanager vwhen vcalculating vthe vprobability
vof vthe vdifferent vrisk vfactors vcausing vsevere vaccidents?
A. vTelematics
B. vInverse vcovariance
C. vVariance
D. vMonte vCarlo vsimulation v- vAnswer v- v v vC
Blithe vManufacturing vhas vexperienced va vdrop vin vmarket vshare. vThe vmarketing vdepartment vhas
vcome vup vwith va vway vto vdifferentiate vtheir vproduct vin vorder vto vregain vmarket vshare. vBlithe vhas
vassembled va vteam vof vindividuals vrepresenting vdifferent vorganizational vfunctions vto vanalyze vboth
vinternal vand vexternal vfactors vof vthe vnew vproduct vand vdecide vwhether vor vnot vit vis vfeasible.
vWhich vone vof vthe vfollowing vteam vapproaches vto vrisk videntification vis vBlithe vusing?
A. vDelphi vtechnique
B. vHAZOP vworkshop
C. vSWOT vanalysis
D. vScenario vanalysis v- vAnswer v- v v vC
William vis va vproject vmanager vfor vParker vInternational. vHe vhas vbeen vassigned va vkey vproject vwith
va vshort vdeadline. vWilliam vrealizes vthat vthis vproject vis vgoing vto vrequire vrevising vthe vjob vduties
,vof vsome vindividuals vand va vcollaborative veffort vfrom vof vall vteam vmembers. vWhen vrevising vjob
vduties, vWilliam vshould vdo vwhich vone vof vthe vfollowing?
A. vOverload vsome vindividuals vwith vmore vwork vthan vothers
B. vTry vto venrich vindividuals' vwork vrather vthan vmerely vexpand vit
C. vRely von vthe vmost vsenior vindividuals vto vtake von vadditional vduties
D. vFocus von vthe vindividuals' vpersonality vrather vthan vresults v- vAnswer v- v v vB
Shelton vManufacturing vexecutives vare vgrowing vincreasingly vconcerned vabout vwildfires vand vthe
vpotential veffects von vsupply vchain vmanagement. vAs vthe vrisk vprofessional, vCarla vhas vbeen vasked
vto vmeet vwith vexperts von vthe vsubject vand vreport vback vto vthe vexecutive vteam. vWhich vone vof
vthe vfollowing vshould vCarla vdo vbefore vmeeting vwith vexternal vwildfire vexperts?
A. vCarla vshould vspeak vwith vinternal vsubject-matter vexperts vin vhopes vthat vshe vcan vavoid vneeding
vthe vexternal vwildfire vexperts.
B. vCarla vshould vresearch vthe vfield vand vget va vworking vunderstanding vof vwildfires.
C. vCarla vshould vsolicit vquestions vfrom vinternal vexperts vand vsubmit vthem vto vthe vexternal vwildfire
vexperts.
D. vCarla vshould vtry vto vlearn vas vmuch vas vpossible vabout vwildfires, vso vshe vcan vimpress vthe
vwildfire vexperts. v- vAnswer v- v v vB
An vorganization vpracticing vholistic vrisk vmanagement vwould vassess vthe vcost vof vraw vmaterials vand
vforeign vexchange vrisk vunder vwhich vone vof vthe vfollowing vquadrants vof vrisk?
A. vStrategic vrisk
B. vFinancial vrisk
C. vOperational vrisk
D. vHazard vrisk v- vAnswer v- v v vB
Risk vmaps vdiffer vfrom vother vrisk vassessment vtools vand vtechniques vin vwhich vone vof vthe vfollowing
vways?
A. vRisk vmaps vdissect vprocesses vwithin vthe vorganization vfrom vinput vto voutput vfor vthe vpurpose vof
vimproving vthem.
B. vRisk vmaps videntify, vprioritize, vand vquantify vrisks vin va vtwo-dimensional vpictorial vthat villustrates
vfrequency vand vseverity von vvertical vand vhorizontal vaxes.
C. vRisk vmaps vhave vthe vpotential vto videntify vboth vnegative vrisks vand vopportunity vrisks.
, D. vRisk vmaps vare vable vto vquickly vexplore va vvast vnumber vof vpossible voutcomes vbased von vlarge
vdatasets. v- vAnswer v- v v vB
As va vbest vpractice, va vrisk vregister vshould vbe van vinteractive vcomputer vsystem. vWhich vone vof vthe
vfollowing vindividuals vshould vbe vresponsible vfor vcontinually vupdating vrisk vinformation?
A. vCustomer
B. vRisk vmanagement vprofessional
C. vRisk vowner
D. vChief vexecutive vofficer v- vAnswer v- v v vC
A vtool vdeveloped vat vthe vrisk vowner vlevel vthat vlinks vspecific vactivities, vprocesses, vprojects, vor
vplans vto va vlist vof videntified vrisks vand vresults vof vrisk vanalysis vand vevaluation; vand vthat vis
vultimately vconsolidated vat vthe venterprise vlevel vis vcalled va
A. vRisk vreport.
B. vRisk vmap.
C. vRisk vmatrix.
D. vRisk vregister. v- vAnswer v- v v vD
Which vone vof vthe vfollowing vrisk vassessment vtools vhas vthe vpotential vto videntify vboth vnegative
vrisks vand vopportunity vrisks?
A. vRisk vmaps
B. vAudits
C. vCause vand veffect vanalysis
D. vFailure vmode vand veffects vanalysis v- vAnswer v- v v vB
Emma vis va vrisk vmanagement vprofessional vat va vchemical vengineering vorganization. vA vnew vprocess
vis vbeing vdesigned vand vEmma vhas vbeen vtold vthat vall vrisks vmust vbe videntified vand veliminated
vduring vthe vdesign vstage. vEmma vis va vrisk vmanagement vprofessional, vbut vnot va vchemical
vengineering vexpert. vShe vhas vassembled va vteam vof vengineering vexperts vand vstakeholders vto
videntify vthe vrisk vassociated vwith vthe vprocess vby vsubdividing vthe vprocess vinto vcomponents vand
vreviewing veach vcomponent vand vthen vrecommend vsolutions. vWhich vone vof vthe vfollowing vteam
vapproaches vto vrisk videntification vhas vEmma vchosen?
A. vDelphi vtechnique
B. vSWOT vanalysis
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