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ISO-31000-CLA PDF Dumps | Jun 10, 2023 Recently Updated Questions
NEW QUESTION # 35
Which teams are composed of cross functional subject matter experts, risk experts, and process owners?
- A. Crisis management teams
- B. Risk assessment teams
- C. Project management teams
- D. Crisis Information teams
Answer: B
Explanation:
Explanation
Risk assessment teams are composed of cross functional subject matter experts, risk experts, and process owners. Risk assessment teams conduct risk assessments for specific areas or projects within the organization.
NEW QUESTION # 36
Which of the following statement about operations risk management is incorrect?
- A. Transparent and inclusive
- B. Capable of continual improvement and enhancement
- C. Disregarding human factors
- D. Dynamic, iterative and responsive to change
Answer: C
Explanation:
Explanation
According to ISO31000 (2018), clause 4., one of the principles of effective risk management is "taking human and cultural factors into account". This means that risk management should consider how people's behaviors, perceptions, values and attitudes influence or are influenced by risk .
NEW QUESTION # 37
Which of the following are measured extensively throughout the organization and into the supply chain?
- A. CMP's and CAD's
- B. PDA's and PBA's
- C. KPI's and KRI's
- D. API's and SKD's
Answer: C
Explanation:
Explanation
KPIs (Key Performance Indicators) and KRIs (Key Risk Indicators) are measured extensively throughout the organization and into the supply chain1. These indicators help to monitor and evaluate the performance and effectiveness of risk management.
NEW QUESTION # 38
__________ and___________ can result in artifacts and records.
- A. DBMS, RDBMS
- B. TDMS, VSMS
- C. RBPS, RBDM
- D. MOS, SMOS
Answer: A
Explanation:
Explanation
DBMS (Database Management System) and RDBMS (Relational Database Management System) can result in artifacts and records1. These systems are used to store, organize, and manipulate data that can be used for risk management purposes.
NEW QUESTION # 39
Treatment plan becomes a living document of defining the direction of the risk treatment and being able to monitor progress against the plan.
- A. False
- B. True
Answer: B
Explanation:
Explanation
Treatment plan becomes a living document of defining the direction of the risk treatment andbeing able to monitor progress against the plan3. Treatment plan helps to ensure that risk treatment actions are aligned with the changing context, objectives, and stakeholder expectations.
NEW QUESTION # 40
How many types of potential risk strategies exist?
- A. 0
- B. 1
- C. 2
- D. 3
Answer: A
Explanation:
Explanation
According to 1, there are four types of potential risk strategies for threats: avoid (eliminate or change), transfer (share or outsource), mitigate (reduce or control), accept (retain or monitor). There are also four types of potential risk strategies for opportunities: exploit (ensure or enhance), share (allocate or collaborate), enhance (increase or maximize), accept (acknowledge or watch).
NEW QUESTION # 41
As part of the ISO 31000 risk management process, 'monitoring and review' is best thought of as which of the following?
- A. Part of risk assessment.
- B. An extra stage.
- C. A feedback loop.
Answer: C
Explanation:
Explanation
According to 3, clause 6.5., monitoring and review "is intended as a feedback loop for checking whether any change has occurred either internally or externally that may affect performance against objectives". It helps to ensure that the risk management process remains relevant and effective over time.
NEW QUESTION # 42
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 # 43
Which of the following ensures that uncertainty is managed so the organization can meet its objectives?
- A. Evasive risk management
- B. Extended risk management
- C. Avoidance risk management
- D. Enhanced risk management
Answer: D
Explanation:
Explanation
Enhanced risk management ensures that uncertainty is managed so the organization can meet its objectives4.
Enhanced risk management involves applying a systematic and logical process to identify, analyze, evaluate, treat, monitor, review, and communicate risks.
NEW QUESTION # 44
Causes of risk include all the following except:
- A. Insurance
- B. Chemical breakdown
- C. Health, safety and environment
- D. Finance
Answer: A
Explanation:
Explanation
According to ISO/IEC Guide73 (2009), clause B., causes are "elements which alone or in combination have potential to give rise to risk". Health, safety, environment, finance andchemical breakdown are examples of causes that can create risks for an organization or an individual 1. Insurance is not a cause but a method of transferring or mitigating some types of risks 1.
NEW QUESTION # 45
Uncertainty leads to a changing context
- A. False
- B. True
Answer: B
Explanation:
Explanation
Uncertainty leads to a changing context . This means that uncertainty creates variability in outcomes and expectations, which may affect the objectives and scope of risk management.
NEW QUESTION # 46
Which of the following are ISO 31000:2009 Enhanced Risk Management attributes? (Choose two)
- A. Solution offering
- B. Crisis management and process attributes
- C. Full accountability for risk controls and treatment
- D. Decision making involves risk
Answer: C,D
Explanation:
Explanation
Full accountability for risk controls and treatment and decision making involves risk are two of the enhanced risk management attributes according to ISO 31000:20091. These attributes indicate that risk management is integrated into governance and decision-making processes.
NEW QUESTION # 47
What could a financial organisation make primary use of, to assess whether its risk management systems are likely to fail?
- A. Key risk indicators.
- B. Physical inspections.
- C. Silo-based risk management.
- D. Key control indicators.
Answer: A
Explanation:
Explanation
Key risk indicators are metrics that provide information about potential changes in the level of risk exposure3.
They can help an organisation monitor and manage its risks more effectively. Key control indicators are metrics that measure the performance of internal controls4.
NEW QUESTION # 48
Which activity does the risk management professional perform immediately after obtaining internal and external information about the organization?
- A. Organize the information
- B. Report the information.
- C. Prioritize the information
- D. Analyze the information.
Answer: A
Explanation:
Explanation
According to page 9-10 of source 2, risk management professionals organize internal and external information about the organization into categories such as stakeholders, strategic objectives, policies and procedures, risk appetite and tolerance, and risk culture. This categorization process facilitates the analysis and reporting of the risk information at a later stage, making it easier to understand and use.
NEW QUESTION # 49
Uncertainties may involve: (Choose two)
- A. Appointing security analyst
- B. The processed to know upcoming security issues
- C. Differing abilities among risk analysts
- D. The process used to conduct the risk analysis
Answer: C,D
Explanation:
Explanation
Uncertainties may involve the process used to conduct the risk analysis and differing abilities among risk analysts. These are examples of factors that can affect the quality and reliability of risk assessment1.
NEW QUESTION # 50
How many risk management principles exists ISO 31000:2018?
- A. 0
- B. 1
- C. 2
- D. 3
Answer: D
Explanation:
Explanation
There are nine risk management principles in ISO 31000:2018. These principles are:
* Integrated
* Structured and comprehensive
* Customized
* Inclusive
* Dynamic
* Best available information
* Human and cultural factors
* Continual improvement
NEW QUESTION # 51
Records and reports provide a continuing account of the risk management system.
- A. False
- B. True
Answer: B
Explanation:
Explanation
Records and reports provide a continuing account of the risk management system2. They help to monitor and review the performance and effectiveness of risk management.
NEW QUESTION # 52
Which element is often the biggest challenge in risk implementation?
- A. computation
- B. human
Answer: B
Explanation:
Explanation
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.
NEW QUESTION # 53
What is the role of risk management in the strategic planning process?
- A. Develop risk treatment plans.
- B. Identify threats and opportunities.
- C. Draft the decisions to be made.
- D. Challenge the decisions made.
Answer: B
Explanation:
Explanation
According to , page 7-8, one of the roles of risk management in the strategic planning process is to identify threats and opportunities that could affect the organization's objectives and performance.
NEW QUESTION # 54
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