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MORF Practice Exam Questions with Answers Management of Risk Foundation Certification

Question # 6

Which is a responsibility of the M_o_R assurance role?

A.

Ensure the availability of staff to implement the risk management strategy

B.

Validate assessment of individual risks

C.

Develop plans to improve risk management

D.

Advise the senior team that the correct risk management roles exist

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Question # 7

What is risk exposure?

A.

Amount of risk the organization, or subset of it, is willing to accept

B.

Maximum amount of risk that an organization can bear

C.

Combined effect of risks to a set of objectives

D.

System by which organizations are directed and controlled

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Question # 8

Which role provides sponsorship to ensure that risk management is embraced within the organization?

A.

Senior manager

B.

Manager

C.

Assurance

D.

Risk specialist

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Question # 9

What ensures that an organization's implementation of the M_o_R approach' and 'M_o_R process' undergoes frequent improvement to remain effective?

A.

Corporate governance

B.

Internal controls

C.

Embedding and reviewing

D.

Contingency planning

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Question # 10

Which is a responsibility of the senior team role?

A.

Approve assessments of risk probability, impact and proximity

B.

Specify the required budget to fund risks

C.

Document the importance of risk management towards achieving organizational objectives

D.

Agree the timing of risk progress reports for an activity

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Question # 11

What objectives are associated with decisions about risks to the delivery of business change capabilities?

A.

Strategic

B.

Enterprise

C.

Programme

D.

Operational

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Question # 12

Which is a responsibility of the M_o_R manager role?

A.

Define risk tolerance thresholds

B.

Prepares risk workshop materials

C.

Defines how much risk should be taken

D.

Ensures a risk review process is in operation

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Question # 13

Which action does NOT contribute to achieving the goal of the 'identify - risks' step?

A.

Describe risks faced by the organization that may prevent an activity from succeeding

B.

Define an activity's key performance indicators

C.

Obtain information about the external and internal factors that may affect the planned activity

D.

Understand a stakeholder's view of an activity's risk profile

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Question # 14

Which is a common barrier to implementing the risk management process?

A.

Lack of a high-risk appetite at senior management level

B.

Lack of an appropriate response to a risk in an activity's risk register

C.

Lack of an assigned risk owner

D.

Lack of policies, processes, strategies and plans

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Question # 15

Which is a primary step within the 'M_o_R process'?

A.

Manage

B.

Assess

C.

Embed

D.

Control

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Question # 16

What is a threat?

A.

An uncertain event that could have a negative impact on objectives

B.

An uncertain event that could have a favourable impact on objectives

C.

An event that has occurred resulting in a negative impact on objectives

D.

An event that has occurred resulting in a favourable impact on objectives

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Question # 17

Which is needed together with the risk management policy and risk management process guide to form an 'M_o_R approach'?

A.

Risk response plan

B.

Risk progress report

C.

Risk register

D.

Risk management strategy

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Question # 18

Which is recorded in the risk register in the 'identify - risks' step?

A.

Lessons learned from completed activities

B.

Responses to risks

C.

Assessed probability of risks

D.

Description of the risk

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Question # 19

Which is a definition of a risk maturity model?

A.

A framework of mature practices for appraising an organization's risk management competency

B.

A tool for checking the health of current risk management

C.

An assessment of an organization's risk management practice

D.

A self-assessment check that the principles have been applied well

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Question # 20

Which is a benefit of effective risk management?

A.

Activity plans are agreed before the activity commences

B.

Staff members are better prepared to respond to incidents

C.

Removes the organization's need to take risks

D.

Guarantees business benefits will be delivered

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Question # 21

Which is a purpose of the 'risk management policy'?

A.

Explain the actions required to implement risk management

B.

Define the Specific risk management activities that will be performed for an activity

C.

Describe how risk management practices will be implemented throughout an organization

D.

Record information about threats and opportunities for an organizational activity

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