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Guide for ISO-31000-CLA: GAQM ISO 31000 - Certified Lead Risk Manager

Quiz ISO-31000-CLA: GAQM ISO 31000 - Certified Lead Risk Manager

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/ 10

Quiz

1/10
From the three actions Tom Brown is undertaking, which is categorised as a pure risk?
Select the answer
1 correct answer
A.
Buying 100 lottery tickets
B.
Selling his house even though he receives less than he paid for it because he thinks prices will fall further.
C.
Going horse riding without wearing a riding helmet.

Quiz

2/10
Hopkin states “most standard definitions of risk refer to risks being attached to corporate objectives”.
What is another important factor to consider when linking risk to an organisation?
Select the answer
1 correct answer
A.
Core processes.
B.
Hazard management.
C.
Risk correlation.

Quiz

3/10
Enterprise Risk Management (ERM) is considered to have a significant difference compared with
traditional risk management approaches because ERM
Select the answer
1 correct answer
A.
ensures that an organisation’s objectives will be achieved.
B.
takes an integrated or holistic approach.
C.
addresses strategic, tactical and operational risk management.

Quiz

4/10
As part of the ISO 31000 risk management process, ‘monitoring and review’ is best thought of as
which of the following?
Select the answer
1 correct answer
A.
An extra stage.
B.
A feedback loop.
C.
Part of risk assessment.

Quiz

5/10
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?
Select the answer
1 correct answer
A.
Internal – Infrastructure.
B.
External – Reputational.
C.
External – Marketplace.

Quiz

6/10
Relying on historic analysis when assessing potential risks and possible impacts implies that
Select the answer
1 correct answer
A.
should adverse events occur, the impact can be accurately modelled.
B.
all significant risks can be confidently analysed.
C.
management believe that the future will behave much like the past.

Quiz

7/10
Using the FIRM scorecard which of the following risks could a risk manager quantify?
1. Loss of income.
2. Financial gain.
3. Reputational damage.
Select the answer
1 correct answer
A.
1 and 2.
B.
1 and 3.
C.
2 and 3.

Quiz

8/10
Which of the following statements about captive insurance companies are correct?
1. A captive cannot act as a reinsurer.
2. A captive can access reinsurance markets.
3. A captive can sometimes offer greater cover than is available in the insurance market.
4. A captive must be located in the same country as its parent company.
Select the answer
1 correct answer
A.
1 and 4.
B.
1 and 2.
C.
2 and 3.

Quiz

9/10
New definition of risk under ISO 31000 and 31010 is:
Select the answer
1 correct answer
A.
Danger that injury, damage, or loss will occur
B.
Possibility of investment loss
C.
Probability of loss to an insurer
D.
Probability of an event that will have an impact on objectives

Quiz

10/10
Causes of risk include all the following except:
Select the answer
1 correct answer
A.
Health, safety and environment
B.
Finance
C.
Insurance
D.
Chemical breakdown
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  • Quiz name:ISO-31000-CLA: GAQM ISO 31000 - Certified Lead Risk Manager
  • Total number of questions:100
  • Number of questions for the test:50
  • Pass score:80%

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