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ARM 401 EXAM|143 COMPLETE QUESTIONS AND ANSWERS A+ RATED
ARM 401 EXAM|143 COMPLETE QUESTIONS AND ANSWERS A+ RATED
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ARM 401 EXAM|143 COMPLETE QUESTIONSAND ANSWERS A+ RATED
strategic risk - -uncertainties associated with the organizations long term
goals and management decisions
-operational risk - -uncertainties associated with the organizations
procedures, systems, and policies
-financial risk - -uncertainties associated with the organizations financial
activities
-facilitated workshops - -a neutral party, who has no stake int he outcome
or participation responsibilities, administers the risk workshop and propels
the group to achieve its goal
-delphi technique - -uses opinions of a select group of experts to identify
risks
-scenario analysis - -identifies risks and predicts the potential consequences
of those specific risks
-HAZOP - -a team of subject matter experts and stakeholders identifies the
risks associated with a given process and recommends a solution
primarily used to design complex, scientific systems such as those used in
engineering, chemical, mechanical, electronic, and computer operations.
-SWOT analysis - -strengths, weaknesses, opportunities, and threats
this is a team approach thats useful in analyzing a new project or product
-risk threshold - -the range or amount of risk that is acceptable
-sensor - -a device that detects and measures stimuli in its environment
-radio frequency identification (RFID) - -a technology that uses radio
frequency to identify objects
-artificial intelligence - -computer process or output that stimulates human
reasoning or knowledge
-computer vision - -a technology that simulates human vision
, -risk register - -a tool developed at the risk owner level that links specific
activities, processes, projects, or plans to a list of identified risks and results
of risk analysis and evaluation and that is ultimately consolidated at the
enterprise level
-risk map - -a template depicting the likelihood and potential
impact/consequences of risk
identify, prioritize, and quantify risks in a two dimensional pictorial that
illustrates frequency and severity on vertical and horizontal axes
-process flow analysis - -dissects processes within the organization from
input to output for the purpose of improving them
-audits - -internal and external audits have the potential to identify both
negative risks and opportunity risks
-cause and effect analysis - -identifies the possible reasons, direct and
contributory, that caused a negative event or problem by looking backwards
through a defective process
-fault tree analysis - -a process that originates with an assumption about
what caused an event or failure
working downward from the assumption, a diagram is used to connect the
factors that caused the failure and determine how to devise methods to
prevent similar failures in the future
-failure mode and effect analysis - -uses a team of individuals to examine a
process and identify potential failures at each step in the process, as well as
the consequences of each failure. when failures are identified, designs and
processes can be modified.
-risk appetite - -amount of risk an organization is willing to take on in order
to achieve an anticipated result or return
-inherent risk - -the level of risk that would be faced if it were to remain
untreated or no action were to be taken to alter the level of risk
-residual risk - -the level of risk remaining after actions are taken to alter
the level of risk
-optimum risk - -the level of risk that is within and organization's risk
appetite
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