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EXIN Management of Risk Foundation Sample Questions:

1. What step is used to determine the likelihood of a risk occurring?

A) Assess - evaluate
B) Assess - estimate
C) Identify-context
D) Identify - risks

2. What is the purpose of using an M_o_R'health check'?

A) Examine an organization's current risk management practices to identify areas for improvement
B) Understand the nature of risks facing an organization and the actions needed to respond
C) Provide alternative assurance and approval processes at key decision points within a programme
D) Show which organizational activities that risk management should be applied to

3. Which is a goal of the 'plan' process step?

A) Understand an activity's pre-response risk exposure
B) Agree the timing of the risk communications plan
C) Set the risk tolerance of an activity
D) Choose appropriate actions to deal with risks

4. Which is a goal of the 'assess - evaluate' step?

A) Calculate the total risk exposure to the activity
B) Understand the organization's approach to managing risk
C) Obtain information about the external factors that may affect the planned activity
D) Gather information about threats to the organization that may reduce the likelihood of the activity succeeding

5. What is corporate governance?

A) A plan for the fast and efficient resumption of essential business services
B) A standard set of high-level criteria against which the degree of difficulty of a proposed project is assessed
C) A sound system of internal control to ensure that effective management systems have been established to protect the organization
D) The systematic application of principles, an approach and a process to the tasks of managing risk

Solutions: