Question 1

What is risk analysis and mitigation?

Accepted Answer

The process of identifying, assessing, and reducing risks to an acceptable level

Answer

The process of creating more risks in a project

Answer

The process of increasing risks in a project

Answer

The process of ignoring risks in a project

Question 2

What is a risk assessment?

Accepted Answer

The process of identifying and evaluating potential risks

Answer

The process of creating more potential risks

Answer

The process of avoiding potential risks

Answer

The process of ignoring potential risks

Question 3

What is a risk management plan?

Accepted Answer

A plan that outlines strategies to mitigate identified risks

Answer

A plan that outlines strategies to increase identified risks

Answer

A plan that outlines strategies to ignore identified risks

Answer

A plan that outlines strategies to avoid identified risks

Question 4

What are some common risk mitigation strategies?

Accepted Answer

Risk avoidance, risk reduction, risk transfer, risk acceptance

Answer

Risk creation, risk ignoring, risk transfer, risk acceptance

Answer

Risk avoidance, risk reduction, risk transfer, risk ignorance

Answer

Risk avoidance, risk reduction, risk creation, risk acceptance

Question 5

What is risk avoidance?

Accepted Answer

Eliminating a risk by not performing an activity that would create it

Answer

Creating more risks by performing an activity that would create it

Answer

Ignoring a risk and hoping it doesn't happen

Answer

Transfering a risk to another person or group

Question 6

What is risk reduction?

Accepted Answer

Reducing the likelihood or impact of a risk

Answer

Increasing the likelihood or impact of a risk

Answer

Avoiding the likelihood or impact of a risk

Answer

Ignoring the likelihood or impact of a risk

Question 7

What is risk transfer?

Accepted Answer

Shifting the responsibility for a risk to another person or group

Answer

Creating more risks by shifting responsibility for a risk

Answer

Reducing the impact of a risk by shifting responsibility for a risk

Answer

Ignoring the risk and hoping it doesn't happen

Question 8

What is risk acceptance?

Accepted Answer

Acknowledging and living with a risk

Answer

Creating more risks by accepting a risk

Answer

Ignoring a risk and hoping it doesn't happen

Answer

Reducing the impact of a risk by accepting a risk

Question 9

What is a risk factor?

Accepted Answer

A condition or circumstance that increases the likelihood or impact of a risk

Answer

A condition or circumstance that creates a new risk

Answer

A condition or circumstance that has no effect on a risk

Answer

A condition or circumstance that reduces the likelihood or impact of a risk

Question 10

What is a risk register?

Accepted Answer

A document that lists identified risks, their likelihood and potential impacts, and planned responses

Answer

A document that lists ignored risks, their likelihood and potential impacts, and no planned responses

Answer

A document that lists avoided risks, their likelihood and potential impacts, and planned responses

Answer

A document that lists created risks, their likelihood and potential impacts, and planned responses

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