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GAQM ISO 31000 - Certified Lead Risk Manager Sample Questions (Q56-Q61):

NEW QUESTION # 56
__________ means doing something according to a plan or method.

• A. Systematic
• B. Informal
• C. Formal
• D. Comprehensive

Answer: A Explanation:
Explanation
Systematic means doing something according to a plan or method. Systematic implies orderliness, consistency, and rigor in applying risk management.
NEW QUESTION # 57
A program officer and a security manager are planning a focus group discussion with community members on potential risks related to projects on female empowerment in local secondary schools. What is the best approach for them to take to define the context?

• A. Define gender equality in the school environment.
• B. Review the roles of the humanitarian principles in relation to education.
• C. Identify any increase of risk with the introduction of a female empowerment project.
• D. Discuss the role of girls and how they are viewed by community members.

Answer: D Explanation:
Explanation
According to , page 9, defining the context involves "understanding what influences people's perception and tolerance of risks". Discussing how girls are viewed by community members can help identify potential sources of resistance, conflict or violence that may affect the project's objectives and outcomes.
NEW QUESTION # 58
What is a primary benefit of a commercial customer self-insuring a risk?

• A. Its short-term cash-flow position is likely to improve.
• B. Staff training requirements will decrease.
• C. Controllability of risk will increase
• D. Claims costs will reduce

Answer: A Explanation:
Explanation
A primary benefit of a commercial customer self-insuring a risk is that its short-term cash-flow position is likely to improve. This is because self-insurance reduces or eliminates insurance premiums and administrative costs associated with external insurers.
NEW QUESTION # 59
What is the role of risk management in the strategic planning process?

• A. Develop risk treatment plans.
• B. Challenge the decisions made.
• C. Draft the decisions to be made.
• D. Identify threats and opportunities.

Answer: D Explanation:
Explanation
According to , page 7-8, one of the roles of risk management in the strategic planning process is to identify threats and opportunities that could affect the organization's objectives and performance.
NEW QUESTION # 60
Inclusiveness is another critical attribute of good risk management.

• A. True
• B. False

Answer: A Explanation:
Explanation
Inclusiveness is another critical attribute of good risk management. Inclusiveness helps to ensure that different perspectives, knowledge, and values are considered in risk management.
NEW QUESTION # 61
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