ARM 401 Exam Bundle

A risk map showing a large difference between inherent and residual risk indicates which one of the following? A. The risk is within the organization's risk appetite B. The current risk treatment is ineffective C. The current risk treatment is effective D. The risk does not need to be treated -...

HAZOP Process Steps - 1. Divide project/system into small components 2. Review components to identify risk 3. Identify cause and potential outcomes of risks 4. Develop solutions to risks 5. Ensure solutions work and reevaluate SWOT analysis (strengths, weaknesses, opportunities, threats) -...

strategic risk - uncertainties associated with the organizations long term goals and management decisions operational risk - uncertainties associated with the organizations procedures, systems, and policies financial risk - uncertainties associated with the organizations financial act...

Strategic Risk Hazard Risk Operational Risk Financial Risk - What are the 4 classifications of risks in the risk quadrant? Strategic Risk - Risk with uncertainties associated with the organization's long-term goals and management decisions Operational Risk - Risk with uncertainti...

Risk maps differ from other risk assessment tools and techniques in which one of the following ways? Risk maps identify, prioritize, and quantify risks in a two-dimensional pictorial that illustrates frequency and severity on vertical and horizontal axes. Vicki has been hired to investigate in...

Brenda is the new risk manager at Telecom Company. She did a preliminary analysis to identify organizational risks. Brenda then scheduled a meeting of the organization's leaders, key employees, and other stakeholders. Brenda asked her assistant, Brian, to moderate the session since he is skilled in...

Risk threshold - The level of risk exposure above which risks are addressed and below which risks may be accepted. Sensor - A device that responds to a physical stimulus (as heat, light, sound, pressure, magnetism, or a particular motion) and transmits a resulting impulse (as for measuremen...

Accidents happen. There's no way to avoid that. But one marginal benefit that accidents offer is: In providing an opportunity to examine why they happened and, through that, perhaps the ability to learn how to avoid a repeat occurrence in the future. Often, an accident investigation focuses o...

Risk adjusted return on capital - (Revenue - Expense - Expected Loss + Income from Capital) / Economic capital Strategic Risk - Uncertainties associated with the organization's long-term goals and management decisions Operational Risk - Uncertainties associated with the organization...

The Range or amount of risk that is acceptable - Risk Threshold A device that detects and measures stimuli in its environment - Sensor A technology that uses radio frequency to identify objects - Radio Frequency Identification (RFID) Computer processing or output that stimulates hu...