GAQM ISO-31000-CLA ISO 31000 - Certified Lead Risk Manager Exam Practice Test

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Total 100 questions
Question 1

Which element is often the biggest challenge in risk implementation?



Answer : A

Human element is often the biggest challenge in risk implementation. Human element involves overcoming resistance to change, engaging stakeholders, building trust and commitment, and fostering a positive risk culture.


Question 2

Which two of the following are types Integrated Processes? (Choose two)



Answer : A, C

People processes and hard processes are two types of integrated processes3. People processes involve human factors such as culture, values, ethics, and behavior that influence risk management. Hard processes involve technical aspects such as methods, tools, techniques, and systems that support risk management.


Question 3

Which management can be used in varied and complex settings?



Answer : D

Risk management can be used in varied and complex settings2. Risk management can help organizations deal with uncertainty and complexity in any type of activity, industry, or sector.


Question 4

Which of the following are two ISO 31000:2018 risk management principles? (Choose two)



Answer : A, B

Integrated and customized are two of the nine risk management principles in ISO 31000:20181. Integrated means that risk management is an integral part of all organizational activities. Customized means that risk management is aligned with the organization's external and internal context and risk profile.


Question 5

Which management ensures that value is created by identifying opportunities for investment, mergers, or acquisition.



Answer : A

Risk management ensures that value is created by identifying opportunities for investment, mergers, or acquisition. Risk management helps to assess the potential benefits, costs, and risks of different options and make informed decisions.


Question 6

A train has crashed and is badly damaged. There have been numerous claims from injured passengers as well as a loss of revenue for the train operator. This is an example of



Answer : A

A train crash and its consequences is an example of risk aggregation, which is the combined effect of multiple risks on an organisation's objectives3. Risk aggregation can result in losses that are greater than the sum of individual losses.


Question 7

A broker is undertaking a business interruption review on behalf of a client. This would most commonly include an evaluation of the



Answer : A

A business interruption review is an evaluation of the effectiveness of a business continuity plan, which is a set of procedures and resources to ensure that an organisation can continue its critical functions in the event of a disruption12.


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Total 100 questions