CRISC Practice Test

CRISC Practice Test practice questions, page 47 of 76, with answer review and explanations.

Question 231

Mike is the project manager of the NNP Project for his organization. He is working with his project team to plan the risk responses for the NNP Project. Mike would like the project team to work together on establishing risk thresholds in the project. What is the purpose of establishing risk threshold?

  1. It is a study of the organization's risk tolerance.
  2. It is a warning sign that a risk event is going to happen.
  3. It is a limit of the funds that can be assigned to risk events.
  4. It helps to identify those risks for which specific responses are needed.

Question 232

What should be considered while developing obscure risk scenarios? Each correct answer represents a part of the solution. (Choose two.)

  1. Visibility
  2. Controls
  3. Assessment methods
  4. Recognition

Question 233

Which of the following is true for risk management frameworks, standards and practices? Each correct answer represents a part of the solution. (Choose three.)

  1. They act as a guide to focus efforts of variant teams.
  2. They result in increase in cost of training, operation and performance improvement.
  3. They provide a systematic view of "things to be considered" that could harm clients or an enterprise.
  4. They assist in achieving business objectives quickly and easily.

Question 234

An interruption in business productivity is considered as which of the following risks?

  1. Reporting risk
  2. Operational risk
  3. Legal risk
  4. Strategic risk

Question 235

You are the project manager of the QPS project. You and your project team have identified a pure risk. You along with the key stakeholders, decided to remove the pure risk from the project by changing the project plan altogether. What is a pure risk?

  1. It is a risk event that only has a negative side and not any positive result.
  2. It is a risk event that is created by the application of risk response.
  3. It is a risk event that is generated due to errors or omission in the project work.
  4. It is a risk event that cannot be avoided because of the order of the work.