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GAQM ISO 31000 - Certified Lead Risk Manager Sample Questions (Q67-Q72):

NEW QUESTION # 67
ISO 31000:2018 risk management process is ______________

• A. cursive
• B. descriptive
• C. visionitive
• D. prescriptive

Answer: B Explanation:
Explanation
ISO 31000:2018 risk management process is descriptive . This means that it provides guidance on what should be done for effective risk management, but not how it should be done. The process can be customized to any organization and its context.
NEW QUESTION # 68
Which plan provides a roadmap on how the treatment options will be deployed?

• A. Fixed
• B. Static
• C. Vison
• D. Treatment

Answer: D Explanation:
Explanation
Treatment plan provides a roadmap on how the treatment options will be deployed3. Treatment plan helps to define the objectives, scope, responsibilities, resources, timeframe, and monitoring mechanisms for implementing risk treatment actions.
NEW QUESTION # 69
Which of the following is a process with inputs, activities, and outcomes?

• A. Supply chain management
• B. Quality management
• C. Risk management
• D. Financial management

Answer: C Explanation:
Explanation
Risk management is a process with inputs, activities, and outcomes1. The inputs are the organization's context and risk criteria. The activities are risk identification, analysis, evaluation, and treatment. The outcomes are improved decision making, performance, and resilience.
NEW QUESTION # 70
When defining the success measures for the organization's risk strategy, the risk management professional will include which of the following steps?

• A. A selection of appropriate media for communicating the risk strategy
• B. The development of timelines for implementing the risk strategy
• C. A review of the goals and objectives of the risk strategy
• D. An analysis of the organization's total cost of insurable risk

Answer: C Explanation:
Explanation
A review of the goals and objectives of the risk strategy is part of defining the success measures for the organization's risk strategy1. This helps to ensure that the risk strategy aligns with the organization's purpose, vision, mission and values.
NEW QUESTION # 71
New definition of risk under ISO 31000 and 31010 is:

• A. Danger that injury, damage, or loss will occur
• B. Probability of an event that will have an impact on objectives
• C. Possibility of investment loss
• D. Probability of loss to an insurer

Answer: B Explanation:
Explanation
According to ISO/IEC Guide73 (2009), clause 1., risk is defined as "the effect of uncertainty on objectives".
This definition applies to both ISO/IEC Guide73 (2009) and ISO31000 (2018), which are standards for risk management terminology and principles respectively.
NEW QUESTION # 72
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