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ARM 401: Questions & Accurate Solutions (Rated A+)
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ARM 401: Questions & Accurate Solutions (Rated A+)
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ARM 401: Questions & Accurate Solutions (Rated A+)Strategic risk Right Ans - uncertainties associated with the organizations
long term goals and management decisions
Operational risk Right Ans - uncertainties associated with the
organizations procedures, systems, and policies
Financial risk Right Ans - uncertainties associated with the organizations
financial activities
Facilitated workshops Right Ans - a neutral party, who has no stake int he
outcome or participation responsibilities, administers the risk workshop and
propels the group to achieve its goal
Delphi technique Right Ans - uses opinions of a select group of experts to
identify risks
Scenario analysis Right Ans - identifies risks and predicts the potential
consequences of those specific risks
HAZOP Right Ans - a team of subject matter experts and stakeholders
identifies the risks associated with a given process and recommends a
solution
Primarily used to design complex, scientific systems such as those used in
engineering, chemical, mechanical, electronic, and computer operations.
SWOT analysis Right Ans - strengths, weaknesses, opportunities, and
threats
This is a team approach thats useful in analyzing a new project or product
Risk threshold Right Ans - the range or amount of risk that is acceptable
Sensor Right Ans - a device that detects and measures stimuli in its
environment
, Radio frequency identification (RFID) Right Ans - a technology that uses
radio frequency to identify objects
Artificial intelligence Right Ans - computer process or output that
stimulates human reasoning or knowledge
Computer vision Right Ans - a technology that simulates human vision
Risk register Right Ans - a tool developed at the risk owner level that links
specific activities, processes, projects, or plans to a list of identified risks and
results of risk analysis and evaluation and that is ultimately consolidated at
the enterprise level
Risk map Right Ans - a template depicting the likelihood and potential
impact/consequences of risk
Identify, prioritize, and quantify risks in a two dimensional pictorial that
illustrates frequency and severity on vertical and horizontal axes
Process flow analysis Right Ans - dissects processes within the
organization from input to output for the purpose of improving them
Audits Right Ans - internal and external audits have the potential to
identify both negative risks and opportunity risks
Cause and effect analysis Right Ans - identifies the possible reasons, direct
and contributory, that caused a negative event or problem by looking
backwards through a defective process
Fault tree analysis Right Ans - a process that originates with an assumption
about what caused an event or failure
Working downward from the assumption, a diagram is used to connect the
factors that caused the failure and determine how to devise methods to
prevent similar failures in the future
Failure mode and effect analysis Right Ans - uses a team of individuals to
examine a process and identify potential failures at each step in the process,
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