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GAQM ISO 31000 - Certified Lead Risk Manager Sample Questions (Q85-Q90):

NEW QUESTION # 85
ISO 31000:2018 offers a generic outline for the design of the risk management framework and process.

• A. False
• B. True

Answer: B Explanation:
Explanation
ISO 31000:2018 offers a generic outline for the design of the risk management framework and process. ISO
31000:2018 provides guidelines that can be adapted to any organization's situation and circumstances.
NEW QUESTION # 86
Enhanced risk management emphasizes the continual improvement of risk management capabilities.

• A. False
• B. True

Answer: B Explanation:
Explanation
Enhanced risk management emphasizes the continual improvement of risk management capabilities1. This means that risk management is regularly reviewed and updated to ensure its relevance, adequacy, and effectiveness.
NEW QUESTION # 87
Risk management is tailored.

• A. False
• B. True

Answer: B Explanation:
Explanation
Risk management is tailored4. Tailored means that risk management takes into account the specific needs, objectives, and characteristics of each organization and its context.
NEW QUESTION # 88
Which type of risk presents only the chance of loss or no loss?

• A. Operational risk
• B. Strategic risk
• C. Financial risk
• D. Hazard risk

Answer: D Explanation:
Explanation
According to , page 8, hazard risk is "the traditional pure risk that only has a downside". It is usually associated with natural disasters, accidents, lawsuits or other events that cause harm or damage.
NEW QUESTION # 89
Which risk identification involves creating alternative ways to achieve an objective?

• A. Objectives-Based
• B. Scenario Based

Answer: B Explanation:
Explanation
According to , page 11, scenario based risk identification involves "creating different scenarios based on varying assumptions about how events might unfold". This can help explore alternative ways to achieve an objective under different circumstances.
NEW QUESTION # 90
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