Risk Management Professional Exam Prep

10 Questions | Total Attempts: 261

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Risk Management Professional Exam Prep - Quiz

It takes a professional course to set you apart in your field. The risk management professional exam highlights your ability and brings credit to your organization. This prep test contains likely questions that you will meet when you write the exam.


Questions and Answers
  • 1. 
    What does PMI stand for?
    • A. 

      Post-Management Institute

    • B. 

      Pre-Management Institute

    • C. 

      Project Management Institute

    • D. 

      Project Management Index

  • 2. 
    Which of the following ways can risk be transferred?
    • A. 

      Warranty

    • B. 

      Loan

    • C. 

      Insurance

    • D. 

      Stocks

  • 3. 
    What does RACI stand for?
    • A. 

      Responsible, Accountable, Confirmed, Informed

    • B. 

      Respectful, Accountable, Consulted, Informed

    • C. 

      Responsible, Accountable, Consulted, Informed

    • D. 

      Respectful, Accountable, Confirmed, Informed

  • 4. 
    One of the following processes has the risk register as its primary output. Which one?
    • A. 

      Identify risks

    • B. 

      Monitor risks

    • C. 

      Qualitative risks

    • D. 

      Quantitative risks

  • 5. 
    John is at a bidder's conference and sees Anthony, his childhood friend, at the second row. What should John do?
    • A. 

      Walk away from the stage and resign from the process

    • B. 

      Inform the management about your relationship

    • C. 

      Give him some confidential information

    • D. 

      Absolutely nothing

  • 6. 
    If a property is valued at $200,000, can be insured at $40,000, and it has a 20% probability of loss, then the insurance is...
    • A. 

      Higher than the probable loss

    • B. 

      Less than the probable loss

    • C. 

      Same as the probable loss

    • D. 

      None of the options

  • 7. 
    What does SWOT analysis stand for?
    • A. 

      Sustain, watch, optimize and take risks

    • B. 

      Strengths, weaknesses, opportunities and threats

    • C. 

      Supply, wait, optimize and take risks

    • D. 

      Sustain, watch, optimize and test

  • 8. 
    Risk tolerance has to be determined for what?
    • A. 

      A team to rank a project risk

    • B. 

      The management to know how other manager act on a project

    • C. 

      A team to schedule the project

    • D. 

      Estimating a project

  • 9. 
    Which of these activates contingency response?
    • A. 

      Risk response

    • B. 

      Risk prompt

    • C. 

      Risk activation

    • D. 

      Risk trigger

  • 10. 
    Are fixed price plus incentive contracts riskier than cost plus fixed fee contract?
    • A. 

      Always true

    • B. 

      True, but not always

    • C. 

      Completely false

    • D. 

      Depends on the contract

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