Here is a list of sample questions which would help you to understand the pattern of questions on Project Risk Management being asked in PMP Certification Exams. A widely used vocabulary for risk management is defined by ISO Guide 73:2009, "Risk management.Vocabulary." Risk & Return - MCQs with answers 1. A. Statement 2: Managers, software engineers, and customers participate in Risk Analysis and Management. Patients with the following conditions are at greater risk of harm from opioids and increased risk of opioid overdose. A. Risk management is unique to the health care industry. By increasing the firm's borrowing capacity, hedging can reduce the probability that the firm lacks the … 1 Answer to Each of the following statements is true regarding the risk management plan except for which one? Preventing and detecting fraud is the job of the external auditor alone. restricted. Default risk is the chance that companies or individuals will be unable to make the required payments on their debt obligations. Which of the following statements are true regarding project risk management? Transfer of risk c. Risk contingency planning d. Accepting the consequences passively e. Risk Planning B 10. ... What is least likely to be correct regarding Systematic risk. Organized and centralized risk communication efforts grew out of legal and regulatory mechanisms The risk register contains the results of qualitative risk analysis, quantitative risk analysis, and risk response planning B. B) Auditors are generally conservative in setting inherent risk. 3. Which of the following statements is true about risks? the five steps of this process are: identifying the risk, analyzing the risk, evaluating the risk, treating the risk and monitoring the risk. b. Statement 1: A risk is a potential problem - it might happen, it might not. Liability insurance is an important risk-management strategy. Hospitalist Medicare payments are at risk for large cuts in 2021 Publish date: November 11, 2020 FBI warns of ‘imminent’ cyberattacks on U.S. hospitals Other definitions emphasize the importance of risk management (McComas, 2006), the need for dialogue between communicators and stakeholders (Palenchar, 2005), and the necessity of ongoing risk monitoring (Coombs, 2012). Definition: Risk management is the process of identifying risk, assessing risk, and taking steps to reduce risk to an acceptable level [1]. B. Accounting Auditing: A Risk Based-Approach (MindTap Course List) Which of the following statements is true regarding the processing and recording of revenue transactions? Hedging reduces the probability of bankruptcy and increases the cost of debt. In ideal risk management, a prioritization process is followed whereby the risks with the greatest loss (or impact) and the greatest probability of occurring are handled first. The risk that remains in a stock portfolio after efforts to diversify is known as unique risk. Risk identification involves how to plan and execute risk management activities B. Under the Management of Health and Safety at Work Regulations 1999, the minimum you must do is: identify what could cause injury or illness in your business (hazards) decide how likely it is that someone could be harmed and how seriously (the risk) take action to eliminate the hazard, or if this isn’t possible, control the risk All of the following statements about the administration of a risk management program are true EXCEPT. B. Statement 3: Only Managers participate in Risk Analysis and Management. i. ii. None of the statements are true C. Qualitative risk analysis involves numerically analyzing the impacts of identified risks D. Risk management planning involves determining which risks might affect the project E. Risk monitoring and control involves tracking identified risks and executing risk response Which of the following statements is true regarding corporate risk management? 4) Choose the correct option according to the given statements regarding Risk Management. A. It adjusts the requirements and objectives of the security policy with the business objectives and motives. B) A risk management policy statement can be used to educate top executives about the risk management process. Risk Management Guidelines. There is no clear clinical consensus regarding the association of opioids and the risk for developing obstructive sleep apnea syndrome. A. Risk mitigation b. The risk management approach determines the processes, techniques, tools, and team roles and responsibilities for a specific project. The risk management process provides a systematic approach for acquiring and analyzing the information necessary to protect assets and allocate security resources. asked Oct 9, 2015 in Nursing by Harmoni. Which of the following is an accurate statement regarding inherent risk? Risk of two securities with different expected return can be compared with: a) Coefficient of variation b) Standard deviation of securities c) Variance of Securities d) None of the above View Answer / Hide Answer a. Which of the following is true about Capital Preservation and Capital Appreciation strategy? The risk register is a component of the project management plan C. The lowest level of the RBS can be used as the risk register Which of the following statements is (are) true with regard to the use of technology in risk management programs? Risk management information systems can be used to store and track workers compensation claims data. A. Risk management Intranets are networks intended for an internal audience. The risk management plan includes a description of the responses to risks and triggers. researching, reviewing, and acting on identifying, analyzing, and responding to Risks with lower probability of occurrence and lower loss are handled in descending order. Populations at Greater Risk of Harm. It is measured by alpha. An effective fraud risk management program can be expected to prevent virtually all frauds, especially those perpetrated by top management. Introduction. Risk register documents all the risks in detail. Answer: Owners of mutual fund shares get professional management of their portfolio, and get a diversified portfolio, as each mutual share is a share in the whole portfolio purchased by the mutual fund. Overview - Risk management: Expert guidance; Principles and guidelines to assist HSE in its judgements that duty-holders have reduced risk as low as reasonably practicable; Assessing compliance with the law in individual cases and the use of good practice They should remain aware of even the smallest decision made. 1.Inventory 2.Threat assessment 3.Evaluation of control 4.Management 5.Monitoring Answer option D is incorrect. b. a. In order to get these benefits, the investor must pay commissions upon purchase, and/or pay yearly management fees. a. Risk management is defined as the art and science of _____ risk factors throughout the life cycle of a project. Risk response plan is another name for Risk Management Plan. The risk management plan includes a description of the responses to risks and triggers. It is further in the interest of the organization to understand the role the stakeholders can play at each step. The purpose of the risk management process varies from company to company, e.g., reduce risk or performance variability to an acceptable level, prevent unwanted surprises, facilitate taking more risk in the pursuit of value creation opportunities, etc. The following are the stages in the risk analysis process. (1) The process under Process Risk Management that prioritizes risks for further analysis or action by assessing and combining their probability of occurrence and impact is called Perform Qualitative Risks Analysis John Diamond is evaluating the existing risk management system of Rome Asset Management and identified the following two risks. B. b. Each of the following statements is true regarding the risk management plan except for which one? B. a. Nurses can have individual coverage or group coverage. Which of the following statements about risk management is true? It is not a valid statement about Risk … The accurate recording of revenue transactions is important for preparing financial statements, but not important for the client’s management decisions. O A. Risk management is controlled and managed by HIPAA regulations. To meet today’s security challenges; the national-level security policy initiatives endorse a holistic risk management approach which provides a level of balance that will The risk management plan is an output of the Plan Risk Management process. Credit spreads widen following recent bankruptcies. C. The risk management … Which of the following is true regarding liability insurance? a. You will get 30 minutes to complete the test. Risk management is the process of identification, analysis, and acceptance or mitigation of uncertainty in investment decisions. Correct answer: A The following statements about risk management is true: Risk management is concerned with reducing exposure to legal liability. 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