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

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Total 100 questions
Question 1

Risk management is systematic, structured, and timely.



Answer : A

Risk management is systematic, structured, and timely4. Systematic means that risk management follows a logical and consistent approach. Structured means that risk management has clear steps, roles, and responsibilities. Timely means that risk management provides information in time for decision making.


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

ISO uses the concept of uncertainty as the driver and rationale for risk management.



Answer : A

ISO uses the concept of uncertainty as the driver and rationale for risk management. Uncertainty refers to the state of having incomplete knowledge or understanding about something that can affect an organization's objectives.


Question 7

Which of the following consists of risk management principles, framework, and process that have been adopted as a national risk management standard by more than 60 countries?



Answer : C

ISO 31000:2018 consists of risk management principles, framework, and process that have been adopted as a national risk management standard by more than 60 countries23. It provides guidelines on managing any type of risk faced by organizations.


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Total 100 questions