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ARM 401 Exam Practice Exam (428 Questions) 2024/2025 With 100% Complete Verified Solution Latest
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ARM 401 Exam Practice Exam (428 Questions) 2024/2025 With 100% Complete Verified Solution Latest
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ARM 401 Exam Practice Exam (428 Questions)2024/2025 With 100% Complete Verified Solution
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Asrisksmapsshowingsaslargesdifferencesbetweensinherentsandsresidualsrisksindicatess
whichsonesofsthesfollowing?
A.sThesrisksisswithinsthesorganization'ssrisksappetite
B.sThescurrentsriskstreatmentsissineffective
C.sThescurrentsriskstreatmentsisseffective
D.sThesrisksdoessnotsneedstosbestreateds-sC
Lucas,sasrisksprofessionalsforsJonessIncorporated,srecentlysmetswithsexpertssfromsthes
utilitysindustrystosdiscusssthespotentialslosssofssupplysandsrisksstosthesinfrastructure.s
Lucassmustsnowsdecideswhichsrisks,sandsproposedstreatments,sneedstosbescommunic
atedstosthesboardsofsJonessIncorporated.sLucassshouldsmakesthissdecisionsbasedson
A.sThessupplyssourcesinvolved.
B.sThesorganization'ssrisksappetitesandstoleranceslevels.
C.sWhethersthesrisksinsnaturalsorsman-made.
D.sWhethersanysgovernmentsregus-sB
SoCalsMoviesCompanysproducessmoviessatsasstudiosinsSouthernsCalifornia.sThesrisksm
anagersdecidedstosidentifysthesrangesofspotentialsconsequencessassociatedswithsvario
ussriskssthatsthescompanysfaces.sForsexample,sifsasseveresearthquakesoccurredswhiles
thescompanyswassfilmingsasmovie,stherescouldsbesdeathssandsinjuries,sdestructionsofs
moviessets,sdelayssinsproduction,scostssassociatedswithsfilmingsatsansalternativeslocat
ion,sandslosssofsreputationsandsgoodswill.sThestypesofsanalysissperformedsbysths-sB
InsurancesCompanys(IC)ssellssitsscoveragessthroughsindependentsinsurancesagents.sI
ndependentsagentssrepresentsseveralsinsurancescompanies.sTom,sthespresidentsofsIC,
shasslearnedsthatsthesindependentsagentswhosisstheshighestsproducersforsICsissconside
ringssellingshissagency.sICsissconsideringsacquiringsthesagencyssincesTomsissconcerne
dsthatsifsthesagencysisssold,sICsmayslosesassubstantialsamountsofsbusiness.sTomsaskedsI
C'ssrisksmanagerstosanalyzesthesprospectivespurchase.sThesanalysissrevealedsthas-sD
MurraysTruckingsissinterestedsinsevaluatingswhichsrisksfactorssaresmostslikelystoslead
stosthesmostscostlysaccidents.sTheysaresevaluatingsrisksfactorsssuchsassspeed,sweathers
conditions,sdriversexperience,sdistancestraveled,sandsgrosssvehiclesweight.sWhichson
esofsthesfollowingsstatisticalsmeasurementsswouldsbesusefulsforsthesrisksmanagerswh
enscalculatingsthesprobabilitysofsthesdifferentsrisksfactorsscausingsseveresaccidents?
A.sTelematics
B.sInversescovariance
C.sVariance
D.sMontesCarlossimulations-sC
,BlithesManufacturingshassexperiencedsasdropsinsmarketsshare.sThesmarketingsdepart
mentshasscomesupswithsaswaystosdifferentiatestheirsproductsinsorderstosregainsmarke
tsshare.sBlitheshassassembledsasteamsofsindividualssrepresentingsdifferentsorganizati
onalsfunctionsstosanalyzesbothsinternalsandsexternalsfactorssofsthesnewsproductsandsd
ecideswhethersorsnotsitsissfeasible.sWhichsonesofsthesfollowingsteamsapproachesstosris
ksidentificationsissBlithesusing?
A.sDelphistechnique
B.sHAZOPsworkshop
C.sSWOTs-sC
WilliamsissasprojectsmanagersforsParkersInternational.sHeshassbeensassignedsaskeyspr
ojectswithsasshortsdeadline.sWilliamsrealizessthatsthissprojectsissgoingstosrequiresrevis
ingsthesjobsdutiessofssomesindividualssandsascollaborativeseffortsfromsofsallsteamsme
mbers.sWhensrevisingsjobsduties,sWilliamsshouldsdoswhichsonesofsthesfollowing?
A.sOverloadssomesindividualsswithsmoresworksthansothers
B.sTrystosenrichsindividuals'sworksrathersthansmerelysexpandsit
C.sRelysonsthesmostsseniorsindividualsstosts-sB
SheltonsManufacturingsexecutivessaresgrowingsincreasinglysconcernedsaboutswildfir
essandsthespotentialseffectssonssupplyschainsmanagement.sAssthesrisksprofessional,sCa
rlashassbeensaskedstosmeetswithsexpertssonsthessubjectsandsreportsbackstosthesexecuti
vesteam.sWhichsonesofsthesfollowingsshouldsCarlasdosbeforesmeetingswithsexternalswi
ldfiresexperts?
A.sCarlasshouldsspeakswithsinternalssubject-
mattersexpertssinshopessthatsshescansavoidsneedingsthesexternalswildfiresexperts.
B.sCarlasshouldsresearchs-sB
Ansorganizationspracticingsholisticsrisksmanagementswouldsassesssthescostsofsrawsma
terialssandsforeignsexchangesrisksunderswhichsonesofsthesfollowingsquadrantssofsrisk
?
A.sStrategicsrisk
B.sFinancialsrisk
C.sOperationalsrisk
D.sHazardsrisks-sB
Risksmapssdiffersfromsothersrisksassessmentstoolssandstechniquessinswhichsonesofsth
esfollowingsways?
A.sRisksmapssdissectsprocessesswithinsthesorganizationsfromsinputstosoutputsforsthesp
urposesofsimprovingsthem.
B.sRisksmapssidentify,sprioritize,sandsquantifysriskssinsastwo-
dimensionalspictorialsthatsillustratessfrequencysandsseveritysonsverticalsandshorizon
talsaxes.
C.sRisksmapsshavesthespotentialstosidentifysbothsnegativesriskssandsopportunitysrisks.
D.sRisksmapssaresablestosquicklysexploresas-sB
,Assasbestspractice,sasrisksregistersshouldsbesansinteractivescomputerssystem.sWhichso
nesofsthesfollowingsindividualssshouldsbesresponsiblesforscontinuallysupdatingsrisksin
formation?
A.sCustomer
B.sRisksmanagementsprofessional
C.sRisksowner
D.sChiefsexecutivesofficers-sC
Astoolsdevelopedsatsthesrisksownerslevelsthatslinkssspecificsactivities,sprocesses,sproje
cts,sorsplansstosaslistsofsidentifiedsriskssandsresultssofsrisksanalysissandsevaluation;san
dsthatsissultimatelysconsolidatedsatsthesenterpriseslevelsisscalledsa
A.sRisksreport.
B.sRisksmap.
C.sRisksmatrix.
D.sRisksregister.s-sD
Whichsonesofsthesfollowingsrisksassessmentstoolsshassthespotentialstosidentifysbothsne
gativesriskssandsopportunitysrisks?
A.sRisksmaps
B.sAudits
C.sCausesandseffectsanalysis
D.sFailuresmodesandseffectssanalysiss-sB
Emmasissasrisksmanagementsprofessionalsatsaschemicalsengineeringsorganization.sAsn
ewsprocesssissbeingsdesignedsandsEmmashassbeenstoldsthatsallsriskssmustsbesidentifie
dsandseliminatedsduringsthesdesignsstage.sEmmasissasrisksmanagementsprofessional,s
butsnotsaschemicalsengineeringsexpert.sSheshassassembledsasteamsofsengineeringsexp
ertssandsstakeholdersstosidentifysthesrisksassociatedswithsthesprocesssbyssubdividings
thesprocesssintoscomponentssandsreviewingseachscomponentsandsthensrecommendss
olutions-sD
CottonsProductssCompanysmanufacturesscottonsclothing,stowels,ssheets,sandsothersco
ttonsproducts.sAllsproductionstakessplacesatsoneslargesmulti-
acresproductionsfacility.sThesrisksmanagersofsCottonsProductssCompanyscalledsasmeet
ingsattendedsbyshersstaff,sthesplantsforeman,sthesplantssafetysengineer,sandsthesheads
ofsoperations.sShestoldsthesgroupsthatssheswantedstosanalyzesonesproblem-
thestopsevent-
ascatastrophicsfiresatsthesproductionsfacility.sThesgroupsdiscussedsallsthescausessofsfai
luresandsfacs-sD
HomesAppliancesCompanyshassdecidedstoschangesitssproductionsmethod.sPreviously,s
smallsteamssofsworkerssassembledswashers,sdryers,sandsdishwashers.sUndersthesnew
sproductionsmethod,sansassembly-
lineswillsbesused,swithssomesfunctionssperformedsbysrobotics.sBeforesmakingsthescha
nge,sHomesAppliancesCompanyshasscreatedsasteamsofsexpertssfromscompanyspersonn
, elstosidentifysallsofsthesriskssinherentsinsthesnewsproductionsmethodsandstosrecomme
ndsmeasuresstosaddresssthesesrisks.sThesteamswillsassemblesinsas-sD
SEsIndustriesshassidentifiedswindstormsassasrisk.sThesrisksmanagershassassembledsast
eamstosprojectsthespotentialsconsequencessofswindstorm.sThesteamsincludessindividu
alssfromsvarioussfunctionsswithinsthesorganization.sWhichsonesofsthesfollowingsteams
approachesstosrisksidentificationsissSEsIndustriessusing?
A.sDelphistechnique
B.sScenariosanalysis
C.sSWOTsanalysis
D.sHAZOPs-sB
ThesrisksmanagementsdepartmentsatsComputersHardwaresCompanysusessrisksmapsst
osgraphsandsanalyzesthesriskssfacedsbysthescompany.sOnesareasofsspecialsconcernstost
hesrisksmanagementsteamsissthesdifferencesbetweensresidualsrisksandsoptimumsrisk.s
Thissdifferencesrepresents
A.sThesrisksthatscannotsbesalteredsandsissretainedsbysthesfirm.
B.sThesriskstreatmentsopportunitystosfurthersreducesrisk.
C.sThesrisksthatsisshandled,sbysdefault,sthroughsavoidance.
D.sThespotentialsrisksthatsthesorganizationsdoess-sB
Whichsonesofsthesfollowingsoccursswhensindividuals,sdepartments,sorsteamssfromsdiff
erentsareassworkstogetherstosaccomplishsassharedsorganizationalsgoal?
A.sCollaboration
B.sCoordination
C.sCooperation
D.sCommunications-sA
Whichsonesofsthesfollowingsissastechniquesusedstosprovidesasvisualsperspectivesofsanso
rganization'ssriskssandstosprioritizesthosesrisks?
A.sRisksmapping
B.sRisksquadrants
C.sRisksregister
D.sSWOTsanalysiss-sA
Jamessissthesrisksmanagersforsaslargesmanufacturingsorganizationswithssixslocations.s
Eachslocationshassasplantsmanagerswhosissresponsiblesforsthesoperationsofsthatslocati
on.sJamessfeelssthatsthesplantsmanagerssaresinsthesbestspositionstosidentifysandsmeasu
resrisksatstheirslocations.sHeswantssthemstosownsthesrisk.sHowever,shesisslookingsforsa
stoolsthatswillsallowshimstosprioritizesrisksaccordingstosthespotentialseffectsonsthesorg
anization.sJamesswantssansinteractivestoolsthatswillsadequatelysidens-sC
Whichsonesofsthesfollowingsissasmajorsbenefitsthatsblockchainstechnologysprovidesstos
holisticsrisksmanagement?
A.sBecausesofstheirssecurity,sblockchainsscanseliminatesthesneedstosverifysthesaccurac
ysofsrisksmanagementsdata.
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