GAQM ISO-31000-CLA Exam Practice Test Instant Access

Question 1

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

AOpenDocument

BInternational Organization for Standardization

COpenSource

DGlobalDocument

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.

Question 2

Which of the following statements does not apply to ISO 31000?

AIt is the first standard issued by ISO for risk management

BIt can be used by any organization regardless of its size, activity or sector

CIt can be used for certification purposes

Answer : C

According to ISO31000 (2018), clause 1., it is ''not intended for certification purposes''.It provides guidance on how organizations can manage their risks effectively using a systematic approach based on principles, framework and process3.

Question 3

Which management ensures that value is created by identifying opportunities for investment, mergers, or acquisition.

ARisk

BQuality

CCrisis

DSafety

Answer : A

Risk management ensures that value is created by identifying opportunities for investment, mergers, or acquisition. Risk management helps to assess the potential benefits, costs, and risks of different options and make informed decisions.

Question 4

A program officer and a security manager are planning a focus group discussion with community members on potential risks related to projects on female empowerment in local secondary schools. What is the best approach for them to take to define the context?

AIdentify any increase of risk with the introduction of a female empowerment project.

BReview the roles of the humanitarian principles in relation to education.

CDefine gender equality in the school environment.

DDiscuss the role of girls and how they are viewed by community members.

Answer : D

According to , page 9, defining the context involves ''understanding what influences people's perception and tolerance of risks''. Discussing how girls are viewed by community members can help identify potential sources of resistance, conflict or violence that may affect the project's objectives and outcomes.

Question 5

A train has crashed and is badly damaged. There have been numerous claims from injured passengers as well as a loss of revenue for the train operator. This is an example of

Arisk aggregation.

Brisk categorisation.

Crisk probability.

Drisk severity.

Answer : A

A train crash and its consequences is an example of risk aggregation, which is the combined effect of multiple risks on an organisation's objectives3. Risk aggregation can result in losses that are greater than the sum of individual losses.

Question 6

What could a financial organisation make primary use of, to assess whether its risk management systems are likely to fail?

AKey control indicators.

BKey risk indicators.

CSilo-based risk management.

DPhysical inspections.

Answer : B

Key risk indicators are metrics that provide information about potential changes in the level of risk exposure3. They can help an organisation monitor and manage its risks more effectively.Key control indicators are metrics that measure the performance of internal controls4.

Question 7

After validating the training curricula, a risk management professional

Adevelops training.

Bdevelops and schedules training.

Cmatches training to audience.

Dschedules and conducts training.

Answer : D

According to , page 23, after validating the training curricula, a risk management professional schedules and conducts training sessions based on the target audience's needs and availability.

GAQM ISO-31000-CLA ISO 31000 - Certified Lead Risk Manager Exam Practice Test