MORF Exam Training Practice Tests (EXIN Management of Risk Foundation)]

Question 1

Which does the SWOT analysis technique help to identify about an organization?

A. Internal strengths B. Corporate governance requirements C. Stakeholder views D. Long-term trends

Correct Answer: A

Question 2

Which is a purpose for an 'M_o_R health check'?

A. Examine future developments that may affect an organization's level of exposure to risk B. Review how well risk management practices have been embedded C. Identify individuals or groups of individuals that have an interest in an organizations planned activity D. Provide a snapshot of the current status of identified risks

Correct Answer: B

Question 3

Which is a use of a risk management maturity model?

A. Enabling organizations to benchmark their current risk management capability B. Identifying areas where application of risk management can be improved C. Carrying out an enterprise wide assessment D. Checking the state of current risk management

Correct Answer: A

Question 4

What step is used to determine those risks which have the greatest effect on the objectives of a planned activity?

A. Plan B. Assess C. Identify D. Implement

Correct Answer: B

Question 5

What may be recorded in the risk register during the 'identify - risks' step?

A. The probability and impact of an identified risk B. The risk actionee for an identified risk response C. An action required to mitigate an identified risk D. A risk description expressed as a cause, event and effect

Correct Answer: D

Question 6

Which describes the threat response option 'accept the risk'?

A. Carry out an action to make the uncertain situation certain B. Perform an action to minimize the impact of the risk should it occur C. Take no action except monitor the risk to ensure it remains tolerable D. Partake in a pain/gain contract with another party for the specified risk

Correct Answer: C

Question 7

Which is NOT an action needed to achieve the goal of the 'assess - evaluate' step?

A. Evaluate the effectiveness of risk management across the organization B. Determine which other risks will occur if a risk occurs C. Calculate the total risk exposure for the activity D. Determine which risks are independent of other risks

Correct Answer: A

Question 8

What is the difference between a risk and an issue?

A. A risk may have an impact on objectives, an issue is impacting objectives now B. A risk is impacting objectives now, an issue may have an impact on objectives C. A risk has a negative impact on objectives, an issue has a positive impact on objectives D. A risk can impact on all activities, an issue impacts on project deliverables only

Correct Answer: A

Question 9

Which is a benefit of effective risk management?

A. Eliminates risk to an activity B. Increases the number of risks that may occur for an activity C. Guarantees business benefits will be delivered D. Improves the probability of achieving objectives

Correct Answer: D

Question 10

Identify the missing words in the following sentence. The lack of [ ? ] is a common barrier to implementing the risk management process.

A. a high-risk appetite B. clear guidance for managers and staff C. appropriate responses to risks D. an assigned risk owner

Correct Answer: B

EXIN Management of Risk Foundation - MORF Exam Practice Test