Management of Risk Foundation v6.0 (MORF)

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Total 146 questions

Identify the missing word(s) in the following sentence. The risk [ ? ] used during the
'implement' step compares the performance of response actions with their planned outcomes.

  • A. register
  • B. management strategy
  • C. progress report
  • D. response plan


Answer : C

What is represented graphically on a 'summary risk profile'?

  • A. Proximity of the identified risks
  • B. Information found in the risk register
  • C. Summary of the actions required to respond to the risks in the activity
  • D. Risk capacity for the activity


Answer : B

Which is a definition of a risk maturity model?

  • A. A framework of mature practices for appraising an organization's risk management competency
  • B. A tool for checking the health of current risk management
  • C. An assessment of an organization's risk management practice
  • D. A self-assessment check that the principles have been applied well


Answer : A

Which is a method for obtaining senior management commitment and support for understanding and managing risk?

  • A. Developing management of risk guidance handbooks and training materials
  • B. Ensuring the risk management function has a direct reporting line to a senior executive
  • C. Escalating risks from the programme, project or operational perspectives to higher levels as required
  • D. Making formal assessments of management of risk implementation in areas of concern


Answer : B

What document describes how risk management activities relate to the achievement of strategic objectives?

  • A. Risk progress report
  • B. Risk management process guide
  • C. Risk management policy
  • D. Risk register


Answer : C

Which is a central 'M_o_R approach' document?

  • A. Risk management policy
  • B. Risk register
  • C. Risk improvement plan
  • D. Risk communications plan


Answer : A

What is corporate governance?

  • A. A sound system of internal control to ensure that effective management systems have been established to protect the organization
  • B. The systematic application of principles, an approach and a process to the tasks of managing risk
  • C. A plan for the fast and efficient resumption of essential business services
  • D. A standard set of high-level criteria against which the degree of difficulty of a proposed project is assessed


Answer : A

What is the initial probability recorded in the risk register based on?

  • A. Proximity of the risk
  • B. Stage of the activity
  • C. Post-response assessment
  • D. Pre-response assessment


Answer : D

Which activity is focused on when the 'aligns with objectives' principle is applied to the project perspective?

  • A. Delivering a defined business change product within budget
  • B. Maintaining the appropriate level of business services to customers
  • C. Enhancing an existing capability to improve organizational performance
  • D. Ensuring the on-going viability of the organization


Answer : A

What is the lack of senior management support a common barrier to?

  • A. Identifying key performance indicators
  • B. Developing a risk communications plan
  • C. Implementing the steps in the risk management process
  • D. Involving stakeholders in risk identification


Answer : C

What principle promotes dialogue with affected parties in a timely manner to help achieve organizational objectives?

  • A. Achieves measurable value
  • B. Aligns with objectives
  • C. Engages stakeholders
  • D. Fits the context


Answer : C

What are the M_o_R principles informed by?

  • A. Corporate governance principles
  • B. Statement of internal control
  • C. M_o_R approach
  • D. Basel II


Answer : A

Which step has a goal of checking the success of risk responses?

  • A. Plan
  • B. Assess - evaluate
  • C. Implement
  • D. Assess – estimate


Answer : C

Identify the missing words in the following sentence. The primary outcome of the [ ? ] principle is that organizations learn from their mistakes.

  • A. achieves measurable value
  • B. provides clear guidance
  • C. creates a supportive culture
  • D. facilitates continual improvement


Answer : D

Which is used to review how well an organization has embedded M_o_R?

  • A. Risk improvement plan
  • B. Monetary benefit measurement
  • C. Risk management health check
  • D. Early warning indicators


Answer : C

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Total 146 questions