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MORF Management of Risk Foundation Questions and Answers

Questions 4

Identify the missing words in the following sentence. In order to safeguard value-creating activities, [ ? ] is used to build an effective response to threats.

Options:

A.

corporate governance

B.

business continuity management

C.

programme management

D.

project management

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Questions 5

Which is NOT a recommended risk response option for an 'opportunity'?

Options:

A.

Enhance

B.

Transfer

C.

Share

D.

Reduce

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Questions 6

Identify the missing word in the following sentence. Applying the 'aligns with objectives' principle at the [ ? ] perspective ensures risk management is responsive to changes to objectives that meet shareholder needs, reputation and demand for services.

Options:

A.

operational

B.

project

C.

programme

D.

strategic

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Questions 7

Which is a responsibility of the senior team role?

Options:

A.

Approve assessments of risk probability, impact and proximity

B.

Specify the required budget to fund risks

C.

Document the importance of risk management towards achieving organizational objectives

D.

Agree the timing of risk progress reports for an activity

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Questions 8

Which sub-steps are included in the 'assess' step?

Options:

A.

Plan and evaluate

B.

Estimate and evaluate

C.

Context and risks

D.

Context and estimate

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Questions 9

Which is a responsibility of a 'risk actionee'?

Options:

A.

Identify risks that might occur to activities in their department

B.

Develop strategies to improve the management of risk

C.

Manage all aspects of an assigned risk

D.

Perform a risk response action to respond to a particular risk

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Questions 10

How is the risk register used in the 'assess - estimate' step?

Options:

A.

Revise risk descriptions as necessary

B.

Record identified risks

C.

Identify risk owners

D.

Update the residual risk exposure

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Questions 11

What defines the threshold levels of risk exposure that when exceeded will trigger a response?

Options:

A.

Risk perception

B.

Risk capacity

C.

Risk tolerance

D.

Risk appetite

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Questions 12

What objectives are associated with decisions about risks to the delivery of business change capabilities?

Options:

A.

Strategic

B.

Enterprise

C.

Programme

D.

Operational

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Questions 13

Which is a central 'M_o_R approach' document?

Options:

A.

Risk management policy

B.

Risk register

C.

Risk improvement plan

D.

Risk communications plan

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Questions 14

Which BEST describes an area of uncertainty at the strategic perspective?

Options:

A.

Changes to scope, quality, cost and schedule of business products

B.

Impact of business changes on current organizational performance

C.

Ability of the infrastructure to meet the required level of service

D.

Stakeholder opinions of operational activities that may affect the organizational reputation

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Questions 15

Which perspective ensures risk management maintains a view of the adequacy of controls that support service delivery to satisfy the fits the context principle?

Options:

A.

Strategic

B.

Programme

C.

Operational

D.

Project

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Questions 16

How is the risk progress report used in the 'implement' step?

Options:

A.

Identify the status against the activity's stated measures for risk management

B.

Identify the scales used to measure the probability and impact of a risk

C.

Describe actions to enhance how risk management is performed

D.

Gain agreement for the amount of risk that can be taken

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Questions 17

Which risk response option 'takes the chance' that the risk will occur, with its full impact if it did?

Options:

A.

Accept the risk

B.

Transfer the risk

C.

Share the risk

D.

Prepare contingent plans

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Questions 18

Which BEST describes an area of uncertainty at the operational perspective?

Options:

A.

Variation to the schedule of a defined business product

B.

Availability of skills required to deliver services to customers

C.

Minimizing disruptions to customer services during transformational change

D.

Damage to the organization's infrastructure

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Questions 19

Which M_o_R principle advocates that an organization's risk appetite should be within the organization's risk capacity?

Options:

A.

Aligns with objectives

B.

Fits the context

C.

Informs decision-making

D.

Provides clear guidance

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Questions 20

Which is a responsibility of the M_o_R senior team role?

Options:

A.

Ensure adequate resources are available to implement the risk management strategy

B.

Ensure an escalation process is in place

C.

Maintain ownership of the risk management policy

D.

Develop plans to improve risk management

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Questions 21

Which is a use of a risk management maturity model?

Options:

A.

Enabling organizations to benchmark their current risk management capability

B.

Checking the state of current risk management

C.

Identifying areas where application of risk management can be improved

D.

Carrying out an enterprise wide assessment

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Exam Code: MORF
Exam Name: Management of Risk Foundation
Last Update: Nov 27, 2023
Questions: 140
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