Free ISO 31000 – Certified Lead Risk Manager Exam ISO-31000-CLA Exam Practice Test

Which step is the risk process steps to manage, control, or remediate risk?

• Risk avoidance
• Risk identification
• Risk evaluation
• Risk treatment

The Chief Risk Officer within a large manufacturing organisation has been asked by the Board of Directors to provide an example of a pure risk. A suitable example would be

• a fire occurring in a new manufacturing process line.
• entering into a contract to purchase a new factory.
• making a strategic decision that affects the long-term future of the organisation.
• the purchase of a currency derivative.

Which of the following are ISO 31000:2009 Enhanced Risk Management attributes? (Choose two)

• Full accountability for risk controls and treatment
• Solution offering
• Decision making involves risk
• Crisis management and process attributes

ISO 31000:2018 offers a generic outline for the design of the risk management framework and process.

• True
• False

How many risk management principles exists ISO 31000:2018?

• 7
• 8
• 9
• 6

Which risk identification involves creating alternative ways to achieve an objective?

• Scenario Based
• Objectives-Based

From the three actions Tom Brown is undertaking, which is categorised as a pure risk?

• Buying 100 lottery tickets
• Selling his house even though he receives less than he paid for it because he thinks prices will fall further.
• Going horse riding without wearing a riding helmet.

Which of the following ensures that uncertainty is managed so the organization can meet its objectives?

• Extended risk management
• Enhanced risk management
• Evasive risk management
• Avoidance risk management

An international bank has identified the risks associated with economic changes in the countries in which it operates. Which of the following correctly describes these risks?

• Internal – Infrastructure.
• External – Reputational.
• External – Marketplace.

A risk management professional advises management on the status of key risks by

• annually identifying the inventory of risks.
• providing information about competitors’ risk management plan.
• providing insights into the changing characteristics of a risk.
• summarizing internal audit reports.