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  • Questions: 100 Q&A's With Detailed Explanation
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  • Exam Name: ISO 31000 - Certified Lead Risk Manager
  • Last Update: 07-Dec-2024
  • Questions and Answers: 100
  • Single Choice: 94 Q&A's
  • Multiple Choice: 6 Q&A's

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ISO-31000-CLA Questions and Answers

Question # 1

Which of the following statements about captive insurance companies are correct?

1. A captive cannot act as a reinsurer. 

2. A captive can access reinsurance markets. 

3. A captive can sometimes offer greater cover than is available in the insurance market. 

4. A captive must be located in the same country as its parent company.

A.

1 and 4.

B.

1 and 2.

C.

2 and 3.

Question # 2

Which step is the last part of the risk assessment process, which started with risk identification then moved to risk assessment, and finally risk evaluation?

A.

Risk evaluation

B.

Risk outsourcing

C.

Risk acceptance

D.

Risk avoidance

Question # 3

What could a financial organisation make primary use of, to assess whether its risk management systems are likely to fail?

A.

Key control indicators.

B.

Key risk indicators.

C.

Silo-based risk management.

D.

Physical inspections.

Question # 4

Which activity does the risk management professional perform immediately after obtaining internal and external information about the organization?

A.

Analyze the information.

B.

Organize the information

C.

Prioritize the information

D.

Report the information.

Question # 5

Which element is often the biggest challenge in risk implementation?

A.

human

B.

computation

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