Exam Name: Management of Risk Foundation
Certification Provider: EXIN
Corresponding Certification: Exin Certification
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EXIN EX0-004 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Risk Monitoring and Control | - Risk monitoring techniques - Reporting and escalation processes - Continuous improvement in risk management |
| Topic 2: Risk Response Planning | - Contingency planning - Risk response options (avoid, reduce, transfer, accept) - Designing and implementing risk responses |
| Topic 3: Risk Identification and Assessment | - Qualitative and quantitative risk assessment - Risk identification techniques - Risk categorization and prioritization |
| Topic 4: Risk Management Principles | - Definition of risk and risk management concepts - Risk appetite and risk tolerance - Objectives and benefits of risk management |
| Topic 5: M_o_R Framework | - Overview of M_o_R principles and approach - Embedding risk management in organizational processes - Roles and responsibilities in risk governance |
EXIN Management of Risk Foundation Sample Questions:
What is the difference between a risk and an issue?
- A. A risk can impact on all activities, an issue impacts on project deliverables only
- B. A risk has a negative impact on objectives, an issue has a positive impact on objectives
- C. A risk may have an impact on objectives, an issue is impacting objectives now
- D. A risk is impacting objectives now, an issue may have an impact on objectives
Correct Answer: C 🗳️
Which is a benefit of effective risk management?
- A. Eliminates risk-taking within an organization
- B. Successful completion of all change activities
- C. Improves the chances of organizational changes being successful
- D. Guarantees business benefits will be delivered
Correct Answer: C 🗳️
Which is a goal of the 'assess - evaluate' step?
- A. Evaluate the impact, probability and how soon risks might occur
- B. Calculate the net effect of risks facing the activity
- C. Assess and evaluate the effectiveness of procedures for managing risks
- D. Evaluate the net cost of planned risk responses
Correct Answer: B 🗳️
What does a 'risk management strategy' describe?
- A. Risk management policies that will be implemented throughout an organization
- B. Series of steps needed to implement risk management
- C. Specific risk management practices that will be performed within an activity
- D. Processes required to improve risk management within an organization
Correct Answer: C 🗳️
Which is NOT a purpose of 'embedding and reviewing M_o_R'?
- A. Identifies the opportunities for updating existing risk management practices.
- B. Improving the risk culture of an organization
- C. Reviewing risk descriptions as a result of changes to the context
- D. Assessing the implementation of risk management
Correct Answer: C 🗳️
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