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EXIN EX0-004 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Risk Identification and Assessment | - Risk categorization and prioritization - Risk identification techniques - Qualitative and quantitative risk assessment |
| Risk Management Principles | - Risk appetite and risk tolerance - Definition of risk and risk management concepts - Objectives and benefits of risk management |
| Risk Monitoring and Control | - Reporting and escalation processes - Continuous improvement in risk management - Risk monitoring techniques |
| Risk Response Planning | - Contingency planning - Designing and implementing risk responses - Risk response options (avoid, reduce, transfer, accept) |
| M_o_R Framework | - Embedding risk management in organizational processes - Roles and responsibilities in risk governance - Overview of M_o_R principles and approach |
EXIN Management of Risk Foundation Sample Questions:
1. What is the purpose of using an M_o_R'health check'?
A) Show which organizational activities that risk management should be applied to
B) Examine an organization's current risk management practices to identify areas for improvement
C) Understand the nature of risks facing an organization and the actions needed to respond
D) Provide alternative assurance and approval processes at key decision points within a programme
2. Which task will be carried out while performing the 'identify - risks' step?
A) Developing an appropriate response to the identified risks
B) Ensuring that all participants agree on the identified risks
C) Calculating when an identified risk is likely to occur
D) Ranking the importance of the stakeholders involved in the activity
3. Which describes the cause of a risk?
A) Impact of the risk on an activity
B) Risk remaining after implementing a risk response
C) Likelihood of the risk occurring
D) Potential trigger point for a risk
4. Which is needed together with the risk management policy and risk management process guide to form an'M_o_R approach'?
A) Risk progress report
B) Risk response plan
C) Risk register
D) Risk management strategy
5. What is risk exposure?
A) Amount of risk the organization, or subset of it, is willing to accept
B) Maximum amount of risk that an organization can bear
C) System by which organizations are directed and controlled
D) Combined effect of risks to a set of objectives
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: B | Question # 3 Answer: D | Question # 4 Answer: D | Question # 5 Answer: D |
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