Question 1

Which of the following can you use a Monte Carlo simulation to model? Select all that apply:

Accepted Answer

A) Project cost 
B) Probability of failure 
C) Quality of inputs 
D) Stock market returns 
E) Leadership 
A) Project cost 
B) Probability of failure 
C) Quality of inputs 
D) Stock market returns 
E) Leadership A,B,C,E

Question 2

Insurance is a way of transferring risk.

Accepted Answer

A) True 
 B)False  True

Question 3

According to some studies, by utilizing effective risk management techniques, what percentage of risks can be curtailed?

Accepted Answer

A) 50% 
B) 10% 
C) 25% 
D) 90% 
E) 100% 
A) 50% 
B) 10% 
C) 25% 
D) 90% 
E) 100% D

Question 4

Boris has identified a key risk in a new project he is leading. What are the acceptable ways to deal with this risk?

Accepted Answer

A) Analyze the risk then do nothing. 
B) Invest resources to monitor the specific risk. 
C) Pay another contractor to execute a piece of the project that seems risky with a penalty if they fail. 
D) Pay an insurer to compensate the company with a cash payment if the risk does not work out. 
E) Ignore the risk 
A) Analyze the risk then do nothing. 
B) Invest resources to monitor the specific risk. 
C) Pay another contractor to execute a piece of the project that seems risky with a penalty if they fail. 
D) Pay an insurer to compensate the company with a cash payment if the risk does not work out. 
E) Ignore the risk

Question 5

Which of the following is a key input into the risk evaluation and control process?

Accepted Answer

A) Testing plan 
B) Organizational tolerance for risk 
C) Change control process 
D) PMIS 
E) Marginal analysis 
A) Testing plan 
B) Organizational tolerance for risk 
C) Change control process 
D) PMIS 
E) Marginal analysis

Question 6

A team member identifies a risk which is not listed in risk register. If the risk materializes, then the project will be delayed by 6 months. What should the PMO do in this situation?

Accepted Answer

A) Immediately inform customer 
B) Find out how the team member identified the risk, as all of them were identified during project planning 
C) Prepare a risk mitigation plan 
D) Analyze the risk 
E) File a change control request 
A) Immediately inform customer 
B) Find out how the team member identified the risk, as all of them were identified during project planning 
C) Prepare a risk mitigation plan 
D) Analyze the risk 
E) File a change control request

Question 7

A retail chain decides to outsource integration of its POS system with inventory tracking system. This is an example of risk ___________:

Accepted Answer

A) Reward 
B) Sharing 
C) Avoidance 
D) Retention 
E) Identification 
A) Reward 
B) Sharing 
C) Avoidance 
D) Retention 
E) Identification

Question 8

What are the four options for dealing with a risk?

Accepted Answer

A) Accept, mitigate, transfer and avoid 
B) Accept, insure, transfer and avoid 
C) Accept, mitigate, reduce and avoid 
D) Situation, task, action, result 
E) It's a trick question -- there are only three and they are transfer, mitigate and avoid 
A) Accept, mitigate, transfer and avoid 
B) Accept, insure, transfer and avoid 
C) Accept, mitigate, reduce and avoid 
D) Situation, task, action, result 
E) It's a trick question -- there are only three and they are transfer, mitigate and avoid

Which of the following can you use a Monte Carlo simulation to model? Select all that apply:

Insurance is a way of transferring risk.

According to some studies, by utilizing effective risk management techniques, what percentage of risks can be curtailed?

Boris has identified a key risk in a new project he is leading. What are the acceptable ways to deal with this risk?

Which of the following is a key input into the risk evaluation and control process?

A team member identifies a risk which is not listed in risk register. If the risk materializes, then the project will be delayed by 6 months. What should the PMO do in this situation?

A retail chain decides to outsource integration of its POS system with inventory tracking system. This is an example of risk ___________:

What are the four options for dealing with a risk?

Certified Business Continuity Professional

Business impact analysis (BIA)

Business continuity plan (BCP) Strategy

Development Implementation

Emergency Response

Exercise Maintenance

Public relations (PR) Coordination

Project Management

Filters

Exam 9: Risk Evaluation Control

Which of the following can you use a Monte Carlo simulation to model? Select all that apply:

Insurance is a way of transferring risk.

According to some studies, by utilizing effective risk management techniques, what percentage of risks can be curtailed?

Boris has identified a key risk in a new project he is leading. What are the acceptable ways to deal with this risk?

Which of the following is a key input into the risk evaluation and control process?

A team member identifies a risk which is not listed in risk register. If the risk materializes, then the project will be delayed by 6 months. What should the PMO do in this situation?

A retail chain decides to outsource integration of its POS system with inventory tracking system. This is an example of risk ___________:

What are the four options for dealing with a risk?

Certified Business Continuity Professional

Business impact analysis (BIA)

Business continuity plan (BCP) Strategy

Development Implementation

Emergency Response

Exercise Maintenance

Public relations (PR) Coordination

Project Management

Filters