Most Recent GAQM ISO-31000-CLA Exam Questions & Answers

Prepare for the GAQM ISO 31000 - Certified Lead Risk Manager exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.

QA4Exam focus on the latest syllabus and exam objectives, our practice Q&A are designed to help you identify key topics and solidify your understanding. By focusing on the core curriculum, These Questions & Answers helps you cover all the essential topics, ensuring you're well-prepared for every section of the exam. Each question comes with a detailed explanation, offering valuable insights and helping you to learn from your mistakes. Whether you're looking to assess your progress or dive deeper into complex topics, our updated Q&A will provide the support you need to confidently approach the GAQM ISO-31000-CLA exam and achieve success.

The questions for ISO-31000-CLA were last updated on Nov 13, 2024.

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Question No. 1

When an operational area develops a treatment for a critical risk, the risk management professional MUST

Aadd the risk to the risk map.

Bcommunicate the treatment plan directly with internal audit.

Cevaluate the dollar savings associated with the treatment.

Devaluate the impact upon other areas.

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Correct Answer: D

When an operational area develops a treatment for a critical risk, the risk management professional must evaluate the impact upon other areas3. This helps to ensure that the treatment does not create new risks or adversely affect other objectives.

Question No. 2

Which of the following is becoming the basis for all decision making?

ARisk management

BCrisis management

CQuality management

DMarketing management

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Correct Answer: A

Risk management is becoming the basis for all decision making2. Risk management helps organizations to identify opportunities and threats, evaluate alternatives, and make informed choices.

Question No. 3

Uncertainty leads to a changing context

ATrue

BFalse

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Correct Answer: A

Uncertainty leads to a changing context2. This means that uncertainty creates variability in outcomes and expectations, which may affect the objectives and scope of risk management.

Question No. 4

Which of the following documents information are relevant to the organization's risk management framework, process, and system?

AReporting and auditing

BRecording and reporting

CVisualizing and conceptualizing

DRationalizing and reporting

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Correct Answer: B

Recording and reporting documents information that are relevant to the organization's risk management framework, process, and system2. These activities help to provide evidence, feedback, learning, and improvement for risk management.

Question No. 5

Which of the following significant risks of reporting are outside the risk appetite of the organization and can impact compliance, which may also be reportable to regulatory agencies? (Choose two)

AExternal

BVision

CInternal

DDynamic

EFunctional

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Correct Answer: A, C

External and internal risks are significant risks of reporting that are outside the risk appetite of the organization and can impact compliance, which may also be reportable to regulatory agencies1. These risks may arise from external factors such as market changes, natural disasters, or cyberattacks, or internal factors such as human errors, fraud, or system failures.

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