GAQM ISO 31000 - Certified Lead Risk Manager ISO-31000-CLA Exam Questions

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Total 100 questions
Question 1

Which of the following is a process with inputs, activities, and outcomes?



Answer : A

Risk management is a process with inputs, activities, and outcomes1. The inputs are the organization's context and risk criteria. The activities are risk identification, analysis, evaluation, and treatment. The outcomes are improved decision making, performance, and resilience.


Question 2

Causes of risk include all the following except:



Answer : C

According to ISO/IEC Guide73 (2009), clause B., causes are ''elements which alone or in combination have potential to give rise to risk''.Health, safety, environment, finance and chemical breakdown are examples of causes that can create risks for an organization or an individual1.Insurance is not a cause but a method of transferring or mitigating some types of risks1.


Question 3

What is a primary benefit of a commercial customer self-insuring a risk?



Answer : C

A primary benefit of a commercial customer self-insuring a risk is that its short-term cash-flow position is likely to improve. This is because self-insurance reduces or eliminates insurance premiums and administrative costs associated with external insurers.


Question 4

Risk management takes human and cultural factors into account.



Answer : A

Risk management takes human and cultural factors into account1. Human factors include perception, judgment, behavior, and communication that influence risk management. Cultural factors include values, beliefs, norms, and expectations that shape the organization's risk culture.


Question 5

Which type of risk presents only the chance of loss or no loss?



Answer : A

According to , page 8, hazard risk is ''the traditional pure risk that only has a downside''. It is usually associated with natural disasters, accidents, lawsuits or other events that cause harm or damage.


Question 6

ISO uses the concept of uncertainty as the driver and rationale for risk management.



Answer : A

ISO uses the concept of uncertainty as the driver and rationale for risk management. Uncertainty refers to the state of having incomplete knowledge or understanding about something that can affect an organization's objectives.


Question 7

ISO 31000is intended to be a family of standards relating torisk managementcodified by the________.



Answer : B

According to1, ISO 31000 is a family of standards relating to risk management codified by the International Organization for Standardization (ISO). It provides principles and guidelines on managing risks that could affect organizations.


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Total 100 questions