RIMS - CRMP Complete Study Guide questions and answers, Exams of Nursing

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Risks - correct answers The effect of uncertainty on objectives The chance of something happening that will have an impact on objectives Being prepared for the worst and being poised to exploit opportunities as they are discovered Enterprise Risk Management - correct answers A strategic business discipline that supports the achievement of an organization's objectives by addressing the full spectrum of its risks and managing the combined impact of those risks as an interrelated risk portfolio. Support Function: Business continuity and crisis management - correct answers Risk identification, assessment and creation of emergency response and recovery plans related to threats or hazards that might lead to operational disruptions Analysis - correct answers A systematic examination and evaluation of data or information by breaking it into its component parts to uncover their relationships. An examination of data and facts to uncover and understand cause-effect relationships, thus providing basis for problem solving and decision making. To embed risk management in both routine and strategic decision, what should managers be able to recognize? - correct answers The type of decision being made; Who should be included in the decision making process; Where in the process decisions are being made Risk management strategies' general focus - correct answers Meeting or exceeding an organization's objectives Adhering to control-based objectives, rules and/or controls Complying with regulatory requirements Support Function: Internal Audit - correct answers Risk identification, assessment and treatment through audit plans with focus on fraud, corruption, regulatory noncompliance and/or misrepresentation related to the organization's internal control systems, financial operations, financial statements and reporting as well as enterprise risk and the organization's risk management framework and process. What steps can the risk management professional take to embed risk management in decision making? - correct answers Include risk assessment in planning process; Leverage cross-functional risk assessment team and subject matter experts to identify enterprise risks; Consider cascading and cumulative effects Gap Analysis - correct answers Technique that can be used to determine what steps might need to be taken to improve the organization's capacity to move from a current state to a desired future state. Risk appetite - correct answers The total exposed amount that an organization wishes to undertake on the basis of risk-return trade-offs for one or more desire and expected outcomes. Communication and Consultation - correct answers Risk management professional's role in Implementing Risk Strategies

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Support Function: Legal - correct answers Risk identification, assessment and treatment of risks related to the obligation an organization undertakes and transfers through contracting, as well as its compliance with applicable laws and regulatory obligations. What are the typical failures in risk management which can be avoided if it is embedded in the decision making process? - correct answers Program not integrated into strategy or its execution; Focused on the wrong risks; Not executed in a repeatable process; Risk management is practiced in a silo; Activity not viewed as being value added Strategic Plan - correct answers Determines that actions the organization will take at any stage of the planning period as circumstances change. Risk owner - correct answers The individual who is ultimately accountable for ensuring that risk is managed appropriately, including the implementation of selected responses. Risk Identification Process - correct answers Finding, Recognizing and Recording Risks Support Function: Compliance - correct answers Risk identification, assessment and treatment of risk related to regulations that may affect the organization's ability to operate in its respective jurisdictions, as well as activities that fall within its compliance and ethics programs. To successfully integrate risk management into decision making, risk management professionals will rely on strategies that draw on personal and technical skills in - correct answers Building organizational awareness;. Differentiating the different types of decisions used in varying situations using elements of decision quality; Performing various roles in the taking risk into account in decision-making process Strategy - correct answers A complete plan of action for whatever situations might arise in achieving an organization's goals within the established time. Risk tolerance - correct answers The amount of uncertainty an organization is prepared to accept in total or more narrowly within a certain business unit, a particular risk category or for a specific initiative. Strategic Risk Management - correct answers A business discipline that drives deliberation and action regarding uncertainties and untapped opportunities that affect an organization's strategy and strategic execution. Value Chain - correct answers The series of functions, processes, materials and activities (inputs) from concept to the eventual end user that creates and builds value at every step in order to deliver a product or service. To build organizational awareness, the risk management professional needs to do the following: - correct answers Be a persuasive communicator and facilitator; Have a clear communication plan; Engage interested parties, including primary and secondary audiences; Demonstrate that risk management creates the most value ; Develop feedback loops for continuous learning Risk Analysis - correct answers The process of characterizing and understanding the nature of risk and of considering the level of risk in the context of the organization's willingness to accept risk.

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key performance indicators - correct answers Each high-level strategy objective should be broken down into more tactical, operational _____________________ for analysis. External Organization Information - correct answers External source of information that includes external audit reports, competitive analysis, rating agency, consumer reports, legal matters, media coverage Strategic importance and complex - correct answers A type of decision that call for formal planning process over a longer timeline in which multiple risk management techniques can be applied. Decision quality elements should be embedded in the process. Due to the importance of the decision, biases should be formally considered by the entire planning team. Support Function: Project Management - correct answers Assess and identify project risks, mitigate threats and capitalize on opportunities that my affect the success of a specific project. Gap analysis - correct answers determine steps to improve the organization's capacity to move from a current state to a desired, future state. (current available factors, success factors needed to achieve future desired objectives, highlighting the gaps) How to obtain the real story aside from reading information? - correct answers Talk to those inside the organization; Talk with external stakeholders ; Do site visits assumptions - correct answers The risk manager can then identify ________________ made by management when developing these goals. Root Cause Analysis - correct answers multiple techniques designed to identify the underlying or initiating risk sources or drivers. (fault tree analysis, event tree analysis, failure mode and effect analysis and cause-and-effect analysis - fish bone diagram) Element of decision quality: Frame the issue; identify the need - correct answers Is solving this problem or realizing this opportunity worthwhile? What are the intended outcomes? Risk Culture - correct answers The norms and traditions of behavior of individuals and of groups within an organization that determine the way in which they identify, understand, idsuss and act on the risk organization confronts and takes. Influence analysis/diagrams - correct answers identify the strength of influencing factors and help determine potential weighting for consideration during the risk assessment process. Define root causes for major risks, define the chain of events likely in a scenario and become the foundation for further modeling. Training needs assessment: Why conduct the training? - correct answers to tie the performance deficiency to a working need and be sure the benefits of conducting the traiing are greater than the problems being cuased by the performance deficiency. Conduct two types of analysis to answer this question: 1) needs versus wants analysis and 2) feasibility analysis Element of decision quality: Explore doable alternatives - correct answers What options are available and how effective or disruptive will each one be in solving the problem or realizing the opportunity? What unintended consequences will each alternative create?

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Knowledge - correct answers A risk management professional must possess general business acumen to generate conversations that lead to deeper understanding of organizational structure; value chain; market analysis, PESTLE, etc. key risks to each strategic goal - correct answers The risk manager can then use in-depth risk analysis to assess the __________________ as well as the risks to the successful execution of the strategic plan. Risk Register Analysis - correct answers compile risk into a risk register to analyze and manage those risks in an organized way, typically by category. Training needs assessment: Who is involved in the training? - correct answers involve appropriate parties to solve the deficiency. Conduct a target population analysis to learn as much as possible about those involved in the deficiency and how to customize a training program to capture their interest. Element of decision quality: Consider meaningful, reliable information - correct answers Is the information accurate, applicable and useful? How will this information inform the decision-making process? What different interpretations of the data are possible and how will each one affect the decision-making process? Skills - correct answers A risk management professional must possess communication, technical and interpersonal skills to obtain organizational information. Action plans - correct answers _____________ should be developed to address gaps between the key risks to the strategic plan and the successful delivery of the mission. Organize - correct answers After obtaining information, what should be the next step to be done? organizational strategy - correct answers Risk strategy should be continually revised to align with ____________________. Element of decision quality: Develop realistic options available to the decision makers - correct answers How feasible, acceptable or desirable is each option and which will be most useful in achieving the objective? Scenario analysis - correct answers process of analyzing possible and plausible future events by considering alternative settings, circumstances and outcomes. It provides a basis for making decisions in the context of different conditions. Training needs assessment: How can the performance deficiency be fixed? - correct answers Can training fix the performance deficiency or suggest other remediation if training is not appropriate? Conduct a performance analysis to identify what skill deficiency is to be fixed by a training remedy. Risk analysis results to - correct answers determine the risk adjusted probability of achieving strategic objectives; determine the key risks that may negatively or positively affect the achievement of the strategic objectives Synthesize - correct answers A process of combining information in ways that are coherent, logical and meaningful.

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Developing training goals: Identify performance goals for learners - correct answers Performance goals identify the tasks team members have to perform to reach the goal. This the time to explore the peformance gaps between what the members are doing now and what they need to be able to do to accomplish the goal. Risk management professional's role: Strategic Advisor - correct answers provides insights on known and emerging risks; shares specialized knowledge on potential exposures; recommend actions and influence decisions, identify and solicit involvement from key stakeholders How can you apply technical knowledge using risk management methods to business process? - correct answers Identify the source of information; Rank its importance for the achievement of the organization's objectives; Compare the reliability of this source with other information sources; Determine whether to include the source as an important information source knowledge and understanding - correct answers Organizational risk competency capabilities: _________________ of operations What are the methods of analyzing operations - correct answers Identify the methods; Compare operations with intended culture and strategy; Validate strong relationship - correct answers Organizational risk competency capabilities: ________________ with key stakeholders Developing training goals: Determine the learning activities - correct answers This step involves identifying the activities that will help team members learn how to successfully achieve the specific perfor mance goals. Risk management professional's role: Facilitator - correct answers encourages participants to share relevant information; provides the team with updates on the changes in the organization; Query and challenge what is said in order to fully develop a concept or issue and explore risks from a 360-degree perspective Influence diagrams, scenario analysis, site analysis, SWOT - correct answers Examples of qualitative methodology for analyzing data Bowtie, business impact analysis, fault tree, cause/consequence analysis - correct answers Examples of combined methodology for analyzing data What do learning objectives address? - correct answers Knowledge, skills or attitudes, what learners will know, such as the elements of risk management process, skills learners can hold, such as those relating to risk appetite and tolerance. Risk management professional's role: Spectator - correct answers refrains from influencing a risk dialogue; only take meeting notes or for staff development purposes, provide exposure to the risk management process Conduct Risk - correct answers Comprises a wide variety of activities and types of behavior that fall outside other main categories of risk ; Risk attached to the way in which a firm, and its staff, behave in a

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wide range of market-facing and internal situations; How customers are treated, remuneration of staff and how firms deal with conflicts of interest ability to assess and plan - correct answers Organizational risk competency capabilities: _______________________ for the appropriate number and type of resources necessary to execute a risk strategy and tactical plan Monte Carlo, stress analysis - correct answers Examples of quantitative methodology for analyzing data How do learning objectives function? - correct answers Learning objectives are SMART: five characteristics of effective learning objectives are that they are: specific, measurable, achievable, relevant and time bounded. Risk management professional's role: Coordinator - correct answers arranging logistics of formal risk management planning meetings; set the date, location and agenda; keep team current and engaged; this can include risk updates to support a report, highlight specific risk for comment, detailing successes or adverse events. What are the steps to validate organizational information and behavior against an organization's intended culture? - correct answers Scrutinize organizational functions; Compare the organization's business model and strategy with its operations to identify connections and points of dissonance risk awareness - correct answers Organizational risk competency capabilities: ____________ as a core cultural characteristic What are attributes of a learning organization? - correct answers Supports constructive criticism; Supports healthy debates; Open to understand attitudes about uncertainties, risk taking and tolerance forward-looking, long-term view - correct answers Organizational risk competency capabilities: ___________________ into emerging risks Risk evaluation - correct answers uses which risk criteria (risk appetite, risk tolerance, outputs from risk identification and risk analysis process) to determine which risks are acceptable and which require additional modification or treatment Pre-decision environment - correct answers Decision has not yet been made; RMP should be able to articulate the value that can be gained by including more formal risk management process into the decision-making process for more significant or complex project, initiatives and strategy setting How are learning objectives communicated? - correct answers Learning objectives have four parts: Each learning objective should indicate who will perform the action (person), the specific behavior to be performed, the conditions under which the behavior will be performed, and the degree to which the person must perform the behavior. Risk appetite - correct answers is the total exposed amount that an organization wishes to undertake on the basis of risk-return trade-offs for one or more desire and expected outcomes.

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In benchmarking, you may analyze and compare information and you can look for: - correct answers Gaps, strengths and weaknesses, differentiators; risks matters to the organizational performance - correct answers Organizational risk competency capabilities: Clear view into risk materiality and ability to narrow the focus to what really _________________. Core competencies - correct answers These are fundamental for successfully performing as a risk management professional, irrespective of level of experience or training. These competencies form the foundation for being able to apply the related knowledge and skill components of the model for the needs of an organization. Quantitative Scoring Methods - correct answers Scoring Method when rating organization against peers based on readily available data such as stock price, market capitalization and earnings per share Identify actual decision makers in the decision making environments - correct answers Identify those who are accountable for performance ERM integration in organizational strategies: Establish a risk governance model that fits within the organization's unique governance arrangements - correct answers Oversight, roles and responsibilities, structure unique to the organization Indemnification - correct answers contractual obligation placed on the indemnifier to return the indemnified to essentially the same financial condition that existed prior to the loss or claim or to stand in as the source for financing the legal liability. Contractual risk transfer - correct answers a legally binding agreement between two parties whereby one agrees to indemnify and hold another party harmless for specified actions, inactions, injuries or damages. ERM integration in organizational strategies: Determine the risk management strategy that will build organizational competencies in support of the organization's strategy - correct answers Common definitions, references, measurements and process; improve risk management competencies throughout the organization, iterative plan tasks aligned with organization's planning processs Identify impact in the decision making environment - correct answers Which decisions make the greatest impact on a specific strategy? Leverage information by using organized internal and external sources; information gathered from meetings; key inputs and outputs of the value chain and operations Qualitative Scoring Method - correct answers Scoring Method when rating organization against peers based on economic, environmental and philanthropic programs that increase brand quality Core Competency: Attributes - correct answers Qualities, characteristics and behaviors that, when displayed, will assist risk management professionals in getting things done in areas where they do not hold direct responsibility. These attributes are particularly important when adapting and integrating a horizontal, portfolio approach to risk management across an

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organization. What are the specific knowledge risk professionals need during benchmarking? - correct answers Market analysis and environmental scanning; Business acumen-market analysis and value assessment; Due diligence and analytics Core Competency: Organizational Knowledge - correct answers Risk management professionals of all levels are expected to know unique aspects of their respective organizations: its industry dynamics, its operating environment, and the activities it undertakes to achieve its strategy, goals and objectives. Hold harmless - correct answers wording that requires one party to shield the other party from the effects of the legal liability assignable to transferor or obligor. Nine-box approach - correct answers Approach that facilitates the consideration of the impact of decision within the various stages of decision-making. User knowledge from value chains and series of business processes steps that follow in succession. Tie in to the value creation and the resource of the value chain. Ultimate risk oversight responsibilities - correct answers Belong at the board level Risk sharing/transfer - correct answers action taken when i) costs of retaining risk exceeds the organization's risk tolerance; ii) risks or some portion can be transferred at a lower cost, iii) risks should be apportioned based o an agreement and iv) it is required by regulation. Operational risk assessment - correct answers may be limitd to uncertainties associated with existing operations and operational plans - the assets, processes, people and systems in place - in order to deliver a particular outcome, such as planned earnings. Risk attitude - correct answers the organization's or individual's view/perspective of the perceived qualitative and quantitative value that may be gained in comparison to the related potential loss or losses. What are the factors that are linked to value chain identification process? - correct answers Value chains; Resources within the value chain; Key inputs and outputs ; Differentiators within an organization with its peers; Influential macro-economic factors Core Competency: Business Knowledge - correct answers To be competent in this area, risk management professionals need to have a thorough understanding of general business models and measurements of business performance, as well as the roles and responsibilities of various functional areas and interactions. Core Competency: Risk Management Knowledge - correct answers Successful risk management professionals are knowledgeable about the standards, guidelines and concepts

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Assumptions - correct answers A method to identify uncertainties which can reveal implicit expectations about organizational performance. Often, implicit expectations do not have metrics built around them that will help ensure success. Risk avoider - correct answers Risk attitude that considers "what can go wrong" rather than "what needs to go right" related to the decision Integrate risk management process with organizational strategies - correct answers consider the organization's planning processes and calendar Risk Monitoring - correct answers Observe Check the progress or quality of something over a period of time Keep under systematic review Prioritize risks to be monitored - correct answers In monitoring risks, what should be done to identify the greatest potential for disrupting or accelerating performance? Plan - Do - Check - Act, Deming Cycle, Shewhart Cycle - correct answers Continuous improvement multi- step quality model In order to facilitate discussions about risk in decision process, what stages should be identified and influenced? - correct answers Timeline the decision is being made; The primary decision maker; If there is an establish risk tolerance and threshold Biases - correct answers A method to identify uncertainties which can help identify potentially hidden expectations, motivations or even conflicts within the organization. It may sometimes lead to perceptual distortion, inaccurate judgment and illogical analysis of information. corporate success measures - correct answers Success measures: aligning risk measures to

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corporate score card - correct answers Success measures: Gaining lace on the ______________ Resources; - correct answers A method to identify uncertainties allocates resources for managing risk related to organizational objectives. In facilitating risk discussions, who should be included? - correct answers Decision makers, other influencers, accountable individuals; impacted stakeholders; those responsible for managing related risks Plan - correct answers A step in continuous improvement model to identify an opportunity and plan for change. Risk metrics (key risk indicators) - correct answers In monitoring risks, what should be integrated into the performance objectives of the organization? Reviews of the risk treatment plans - correct answers In monitoring risks, what should be scheduled as an ongoing agenda item in the responsible leader's staff agenda?

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Do - correct answers A step in continuous improvement model to implement change on a small scale; collaborating on the process assessment and potential options; validating the continuous improvement options; selecting and executing improvement options. What are characteristics of decisions that may increase the odds of successful outcomes through risk- informed decisions? - correct answers Be transparent; Resolve potential conflicts; Follow escalation guidelines What are the important ATTRIBUTES that are needed over the course of risk management professional career? - correct answers Assertiveness; Inquisitiveness; Judgment; Curiosity; Courage; Persuasiveness performance evaluation process - correct answers Success measures: Integrating risk success measurement into the organization's ________________ engagement and accountability - correct answers Success measures: Making the case for risk management _______________ What are the important SKILLS that are needed over the course of risk management professional career?

• correct answers Investigation skills; Strategic thinking; Inductive reasoning; Behavior modification; Relationship development; Decision making What could successful discussions reveal - correct answers Potential untapped opportunities; Uncertainties that may benefit from scenario planning; Cognitive Biases, anchoring and loss aversion; Potential outcomes Check - correct answers A step in continuous improvement model to use data to analyze the results of the change and determine whether it made a difference. Key performance indicators (KPI) - correct answers help a firm see how it is performing in relation to its strategic goals and objectives. Key risk indicators (KRI) - correct answers are leading indicators of risk to business performance, giving early warning about potential risks. Act - correct answers A step in continuous improvement model to implement successful improvement changes on a wider scale and continuously assess your results. Risk management professionals can encourage continuous learning by - correct answers Advising on alignment of the decisions within the organization's strategy and external information; Suggest improvements when changes may need to be made in other areas; Developing a sustainable communication process and network. Risk Manager Core Competency Model - correct answers Consists of key skills and knowledge that will help a risk manager thrive. This can be used for position definition, professional development, communication and many other purposes corporate rewards strategy - correct answers Success measures: Tying risk engagement, accountability and results to the ______________

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effective is the current paradigm? What are the gaps between the current and ideal state? Which standard or framework do key stakeholders prefer? Area of improvement to encourage continuous learning: Development of organizational risk management competencies - correct answers Does the organization realize how risk-based decisions are impacting the organization? What evidence demonstrates that risk-based decisions are leading to continuous improvement? Catalyst - correct answers Risk management professional's role is to provide insights on emerging risks and offer perspectives on leading practices; share knowledge on potential exposures and the implications to the organization. Maturity - correct answers refers to an evolution toward full development of the risk management attributes and competency drivers. In facilitating risk identification, risk management professional servers as - correct answers Data consolidator to aggregate and synthesize data that enable people within an organization to make risk- effective decisions. Benefits of process improvement for risk management professionals - correct answers Establish a baseline of maturity levels; build consensus about areas for improvement and establish milestones; communicate clearly to the stakeholders and risk network Area of improvement to encourage continuous learning: Coaching the organization - correct answers Develop and track feedback mechanisms to judge success and adjust risk management process accordingly. Is there a consensus on the evaluation of the outcome? What could be learned by including others into the decision-making process? What re the implications for the organization? Core Competency: Business Knowledge - correct answers Business model; performance management, economics, functional areas What is important in risk committees? - correct answers Purpose and process must be established (committee use and structure); Relationship between risk performance and the reward system Core Competency: Risk Management Knowledge - correct answers Standards/Frameworks; Concepts; Adaption approaches; process; solution; subspecialties Business area managers or risk owners - correct answers Participants in the ERM governance model who engages in risk assessment at directed frequency; own risk treatment i.e. avoid, accept, transfer, mitigate, exploit; report on risk exposures/actions Collaboration in a more formal environment, such as a risk committee can provide what? - correct answers give managers an open venue to share concerns and receive feedback from colleagues Benefits of process improvement for stakeholders - correct answers Streamline risk management processes; eliminate dupplication of efforts and connect support functions with process owners; measure risk managemnt value, based on priorities; create a shreed language and vision

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Profitability and value - correct answers A benefit of ERM that provides improved profitability, increased shareholder value, reduced financial volatility Cross-functional view and common risk assessment process - correct answers An ERM method which can maximize the efficiency of an organization's risk management resources and activities Benefits of process improvement for organizations - correct answers tackle inadequately addressed uncertainties and opportunities; resolve business processes inefficiencies; build a repeatable and scalable process for better decision making. What occurs during the "push" flow of information? - correct answers Risk management professionals have an outlet to push out information to department leaders that might prompt them to reassess their business processes or even identify new exposures Core Competency: Technical Skills - correct answers Assessment methods & techniques; research; analytics; financial analysis; risk modification; statistics; data interpretation; behavior modification; information systems Top Management - correct answers Participants in the ERM governance model who establishes risk management policies/tolerances; review and reports significant risk issues; controls risk governance and infrastructure Unmanaged risk - correct answers greatest source of waste in business and economy and can have a damaging effect on companies, employees and communities where the business operates. Adoption of ERM-based approach - correct answers Comptency Drivers: Executive support of ERM; business process definition and risk ownership, far-sighted risk management vision; front line and support process owner participation What occurs during the "pull" flow of information - correct answers Risk management professionals can pull information about new developments and promote action plans that manage significant risks Core Competency: Management Skills - correct answers Strategic perspective; planning; organizing; decision making; relationship development Governing Body/Board of Directors - correct answers Participants in the ERM governance model who is the ultimate risk management oversight responsibility Risk ownership - correct answers Essential to the successful implementation of an ERM program because it places the responsibility, accountability and authority for volatile situations on those stakeholders directly affected by risk. ERM process management - correct answers Competency Drivers: Repeatable and scalability; ERM program oversight ERM process steps; risk culture, accountability and communication, risk management reporting RIMS Risk Maturity Model (RMM) - correct answers A best practice framework for enterprise risk management. Developed as an umbrella framework of the international, cross-industry standards, the

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Business resilience and sustainability - correct answers Compentency Drivers: Analysis-based planning; resilience and operational planning; understanding consequences organizational risk management competencies - correct answers Component in implementing enterprise risk plan: Design the plan so that it supports and aligns with the desired __________________ Risk management culture and governance - correct answers Examples include Adhere to systematic and consistent practices, limit future losses, optimal risk/reward structure Benchmarking - correct answers comparing one's processes and performance metrics against those of organizations known to be leaders in one or mor easpects of their operations implementation plan success - correct answers Component in implementing enterprise risk plan: Develop metrics to measure _______________ management agreement - correct answers Component of risk communication strategy: Define and secure _______________ for key risk messages Ways to benchmark - correct answers Industry groups; conferences, sumits and workshops; participation in surveys; association, academic, government and other research; networking RMM attribute: Adoption of ERM-based process - correct answers RMM attribute: This attribute measures the organization's risk culture, and considers the degree of executive or board-level support for enterprise risk management. Engaging risk network promotes - correct answers greater consistency in approaches and in developing capabilities for risk management activities across the organization. risk strategy and tactics; the enterprise communication process, the desired risk culture - correct answers Component of risk communication strategy: Ensure alignment with _______________ RMM attribute: ERM process management - correct answers RMM attribute: This attribute measures the extent to which the organization has adopted an ERM methodology throughout its culture and business decisions, and how well the risk management program follows best practice steps to identify, assess, evaluate, mitigate, and monitor risks. RMM attribute: Risk appetite management - correct answers RMM attribute: This attribute evaluates the level of awareness around risk-reward trade-offs, accountability for risk, defining risk tolerances, and whether the organization is effective in closing the gap between potential and actual risk. Identifying what training is needed - correct answers Logical first step before developing training goals communication channels - correct answers Component of risk communication strategy: Determine _________________ to be used for the variety of intended messaging RMM attribute: Root cause discipline - correct answers RMM attribute: This attribute assesses the extent to which an organization identifies risk by source, or root cause, versus the symptoms and outcomes they produce. Focusing on the root cause of a risk and classifying them accordingly, will strength response and mitigation efforts.

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Articulate specific training objectives - correct answers Step to perform before preparing training media and materials. type and frequency - correct answers Component of risk communication strategy: Define the _________________ of internal messaging delivered to risk stakeholder leaders; risk owners; key functional leaders; business unit heads; top management; governing body regulators; insurers; rating agencies - correct answers Component of risk communication strategy: Determine the requirements for communicating with external parties including ___________________ RMM attribute: Uncovering risks - correct answers RMM attribute: This attribute measures the quality and coverage of your risk assessments. It examines the method of collecting risk information, the risk assessment process and whether enterprise-wide trends and correlations can be uncovered from the risk information. Validate and improve training programs - correct answers final step once the training is determined and materials are developed. RMM attribute: Performance management - correct answers RMM attribute: This attribute determines the degree to which an organization executes on its visions and strategy. It evaluates the strength in planning, communicating and measuring core enterprise goals with a risk-based process, and the extent to which progress deviates from expectations. Risk management coaching process includes - correct answers Identifying coaching needs; identifying existing coaching relationships; conducting gap analysis between existing coaching relations and current coaching needs; matching coaches with targeted stakeholders crisis communication process - correct answers Component of risk communication strategy: Determine and define the role of the risk management function in the _______________ RMM attribute: Business resiliency and sustainability - correct answers RMM attribute: This attribute evaluates the extent to which business continuity, operational planning and other sustainability activities are approached with a risk-based methodology. Continuous improvement - correct answers Ongoing effort to improve products, services or processes within an organization. role - correct answers Component of risk communication strategy: Determine and define the _________ of the risk management function in communicating with the media political climate - correct answers Strategies to obtain support: Asses the ____________ for change/improve risk management approach Successful outcomes are more likely when risk management - correct answers Is integrated into day-to- day activities; Fosters collaboration cross-functionally; Builds competency through training and coaching; Strives for continuous improvement Communication - correct answers Risk Management Professional's role to convey information.