Exam (elaborations)
ARM 401 Exam Practice Exam (428 Questions) 2024/2025 With 100% Complete Verified Solution Latest
- Course
- Institution
ARM 401 Exam Practice Exam (428 Questions) 2024/2025 With 100% Complete Verified Solution Latest
[Show more]
Content preview
ARM 401 Exam Practice Exam (428 Questions)2024/2025 With 100% Complete Verified Solution
Latest
Asrisksmapsshowingsaslargesdifferencesbetweensinherentsandsresidualsrisksindicatess
whichsonesofsthesfollowing?
A.sThesrisksisswithinsthesorganization'ssrisksappetite
B.sThescurrentsriskstreatmentsissineffective
C.sThescurrentsriskstreatmentsisseffective
D.sThesrisksdoessnotsneedstosbestreateds-sC
Lucas,sasrisksprofessionalsforsJonessIncorporated,srecentlysmetswithsexpertssfromsthes
utilitysindustrystosdiscusssthespotentialslosssofssupplysandsrisksstosthesinfrastructure.s
Lucassmustsnowsdecideswhichsrisks,sandsproposedstreatments,sneedstosbescommunic
atedstosthesboardsofsJonessIncorporated.sLucassshouldsmakesthissdecisionsbasedson
A.sThessupplyssourcesinvolved.
B.sThesorganization'ssrisksappetitesandstoleranceslevels.
C.sWhethersthesrisksinsnaturalsorsman-made.
D.sWhethersanysgovernmentsregus-sB
SoCalsMoviesCompanysproducessmoviessatsasstudiosinsSouthernsCalifornia.sThesrisksm
anagersdecidedstosidentifysthesrangesofspotentialsconsequencessassociatedswithsvario
ussriskssthatsthescompanysfaces.sForsexample,sifsasseveresearthquakesoccurredswhiles
thescompanyswassfilmingsasmovie,stherescouldsbesdeathssandsinjuries,sdestructionsofs
moviessets,sdelayssinsproduction,scostssassociatedswithsfilmingsatsansalternativeslocat
ion,sandslosssofsreputationsandsgoodswill.sThestypesofsanalysissperformedsbysths-sB
InsurancesCompanys(IC)ssellssitsscoveragessthroughsindependentsinsurancesagents.sI
ndependentsagentssrepresentsseveralsinsurancescompanies.sTom,sthespresidentsofsIC,
shasslearnedsthatsthesindependentsagentswhosisstheshighestsproducersforsICsissconside
ringssellingshissagency.sICsissconsideringsacquiringsthesagencyssincesTomsissconcerne
dsthatsifsthesagencysisssold,sICsmayslosesassubstantialsamountsofsbusiness.sTomsaskedsI
C'ssrisksmanagerstosanalyzesthesprospectivespurchase.sThesanalysissrevealedsthas-sD
MurraysTruckingsissinterestedsinsevaluatingswhichsrisksfactorssaresmostslikelystoslead
stosthesmostscostlysaccidents.sTheysaresevaluatingsrisksfactorsssuchsassspeed,sweathers
conditions,sdriversexperience,sdistancestraveled,sandsgrosssvehiclesweight.sWhichson
esofsthesfollowingsstatisticalsmeasurementsswouldsbesusefulsforsthesrisksmanagerswh
enscalculatingsthesprobabilitysofsthesdifferentsrisksfactorsscausingsseveresaccidents?
A.sTelematics
B.sInversescovariance
C.sVariance
D.sMontesCarlossimulations-sC
,BlithesManufacturingshassexperiencedsasdropsinsmarketsshare.sThesmarketingsdepart
mentshasscomesupswithsaswaystosdifferentiatestheirsproductsinsorderstosregainsmarke
tsshare.sBlitheshassassembledsasteamsofsindividualssrepresentingsdifferentsorganizati
onalsfunctionsstosanalyzesbothsinternalsandsexternalsfactorssofsthesnewsproductsandsd
ecideswhethersorsnotsitsissfeasible.sWhichsonesofsthesfollowingsteamsapproachesstosris
ksidentificationsissBlithesusing?
A.sDelphistechnique
B.sHAZOPsworkshop
C.sSWOTs-sC
WilliamsissasprojectsmanagersforsParkersInternational.sHeshassbeensassignedsaskeyspr
ojectswithsasshortsdeadline.sWilliamsrealizessthatsthissprojectsissgoingstosrequiresrevis
ingsthesjobsdutiessofssomesindividualssandsascollaborativeseffortsfromsofsallsteamsme
mbers.sWhensrevisingsjobsduties,sWilliamsshouldsdoswhichsonesofsthesfollowing?
A.sOverloadssomesindividualsswithsmoresworksthansothers
B.sTrystosenrichsindividuals'sworksrathersthansmerelysexpandsit
C.sRelysonsthesmostsseniorsindividualsstosts-sB
SheltonsManufacturingsexecutivessaresgrowingsincreasinglysconcernedsaboutswildfir
essandsthespotentialseffectssonssupplyschainsmanagement.sAssthesrisksprofessional,sCa
rlashassbeensaskedstosmeetswithsexpertssonsthessubjectsandsreportsbackstosthesexecuti
vesteam.sWhichsonesofsthesfollowingsshouldsCarlasdosbeforesmeetingswithsexternalswi
ldfiresexperts?
A.sCarlasshouldsspeakswithsinternalssubject-
mattersexpertssinshopessthatsshescansavoidsneedingsthesexternalswildfiresexperts.
B.sCarlasshouldsresearchs-sB
Ansorganizationspracticingsholisticsrisksmanagementswouldsassesssthescostsofsrawsma
terialssandsforeignsexchangesrisksunderswhichsonesofsthesfollowingsquadrantssofsrisk
?
A.sStrategicsrisk
B.sFinancialsrisk
C.sOperationalsrisk
D.sHazardsrisks-sB
Risksmapssdiffersfromsothersrisksassessmentstoolssandstechniquessinswhichsonesofsth
esfollowingsways?
A.sRisksmapssdissectsprocessesswithinsthesorganizationsfromsinputstosoutputsforsthesp
urposesofsimprovingsthem.
B.sRisksmapssidentify,sprioritize,sandsquantifysriskssinsastwo-
dimensionalspictorialsthatsillustratessfrequencysandsseveritysonsverticalsandshorizon
talsaxes.
C.sRisksmapsshavesthespotentialstosidentifysbothsnegativesriskssandsopportunitysrisks.
D.sRisksmapssaresablestosquicklysexploresas-sB
,Assasbestspractice,sasrisksregistersshouldsbesansinteractivescomputerssystem.sWhichso
nesofsthesfollowingsindividualssshouldsbesresponsiblesforscontinuallysupdatingsrisksin
formation?
A.sCustomer
B.sRisksmanagementsprofessional
C.sRisksowner
D.sChiefsexecutivesofficers-sC
Astoolsdevelopedsatsthesrisksownerslevelsthatslinkssspecificsactivities,sprocesses,sproje
cts,sorsplansstosaslistsofsidentifiedsriskssandsresultssofsrisksanalysissandsevaluation;san
dsthatsissultimatelysconsolidatedsatsthesenterpriseslevelsisscalledsa
A.sRisksreport.
B.sRisksmap.
C.sRisksmatrix.
D.sRisksregister.s-sD
Whichsonesofsthesfollowingsrisksassessmentstoolsshassthespotentialstosidentifysbothsne
gativesriskssandsopportunitysrisks?
A.sRisksmaps
B.sAudits
C.sCausesandseffectsanalysis
D.sFailuresmodesandseffectssanalysiss-sB
Emmasissasrisksmanagementsprofessionalsatsaschemicalsengineeringsorganization.sAsn
ewsprocesssissbeingsdesignedsandsEmmashassbeenstoldsthatsallsriskssmustsbesidentifie
dsandseliminatedsduringsthesdesignsstage.sEmmasissasrisksmanagementsprofessional,s
butsnotsaschemicalsengineeringsexpert.sSheshassassembledsasteamsofsengineeringsexp
ertssandsstakeholdersstosidentifysthesrisksassociatedswithsthesprocesssbyssubdividings
thesprocesssintoscomponentssandsreviewingseachscomponentsandsthensrecommendss
olutions-sD
CottonsProductssCompanysmanufacturesscottonsclothing,stowels,ssheets,sandsothersco
ttonsproducts.sAllsproductionstakessplacesatsoneslargesmulti-
acresproductionsfacility.sThesrisksmanagersofsCottonsProductssCompanyscalledsasmeet
ingsattendedsbyshersstaff,sthesplantsforeman,sthesplantssafetysengineer,sandsthesheads
ofsoperations.sShestoldsthesgroupsthatssheswantedstosanalyzesonesproblem-
thestopsevent-
ascatastrophicsfiresatsthesproductionsfacility.sThesgroupsdiscussedsallsthescausessofsfai
luresandsfacs-sD
HomesAppliancesCompanyshassdecidedstoschangesitssproductionsmethod.sPreviously,s
smallsteamssofsworkerssassembledswashers,sdryers,sandsdishwashers.sUndersthesnew
sproductionsmethod,sansassembly-
lineswillsbesused,swithssomesfunctionssperformedsbysrobotics.sBeforesmakingsthescha
nge,sHomesAppliancesCompanyshasscreatedsasteamsofsexpertssfromscompanyspersonn
, elstosidentifysallsofsthesriskssinherentsinsthesnewsproductionsmethodsandstosrecomme
ndsmeasuresstosaddresssthesesrisks.sThesteamswillsassemblesinsas-sD
SEsIndustriesshassidentifiedswindstormsassasrisk.sThesrisksmanagershassassembledsast
eamstosprojectsthespotentialsconsequencessofswindstorm.sThesteamsincludessindividu
alssfromsvarioussfunctionsswithinsthesorganization.sWhichsonesofsthesfollowingsteams
approachesstosrisksidentificationsissSEsIndustriessusing?
A.sDelphistechnique
B.sScenariosanalysis
C.sSWOTsanalysis
D.sHAZOPs-sB
ThesrisksmanagementsdepartmentsatsComputersHardwaresCompanysusessrisksmapsst
osgraphsandsanalyzesthesriskssfacedsbysthescompany.sOnesareasofsspecialsconcernstost
hesrisksmanagementsteamsissthesdifferencesbetweensresidualsrisksandsoptimumsrisk.s
Thissdifferencesrepresents
A.sThesrisksthatscannotsbesalteredsandsissretainedsbysthesfirm.
B.sThesriskstreatmentsopportunitystosfurthersreducesrisk.
C.sThesrisksthatsisshandled,sbysdefault,sthroughsavoidance.
D.sThespotentialsrisksthatsthesorganizationsdoess-sB
Whichsonesofsthesfollowingsoccursswhensindividuals,sdepartments,sorsteamssfromsdiff
erentsareassworkstogetherstosaccomplishsassharedsorganizationalsgoal?
A.sCollaboration
B.sCoordination
C.sCooperation
D.sCommunications-sA
Whichsonesofsthesfollowingsissastechniquesusedstosprovidesasvisualsperspectivesofsanso
rganization'ssriskssandstosprioritizesthosesrisks?
A.sRisksmapping
B.sRisksquadrants
C.sRisksregister
D.sSWOTsanalysiss-sA
Jamessissthesrisksmanagersforsaslargesmanufacturingsorganizationswithssixslocations.s
Eachslocationshassasplantsmanagerswhosissresponsiblesforsthesoperationsofsthatslocati
on.sJamessfeelssthatsthesplantsmanagerssaresinsthesbestspositionstosidentifysandsmeasu
resrisksatstheirslocations.sHeswantssthemstosownsthesrisk.sHowever,shesisslookingsforsa
stoolsthatswillsallowshimstosprioritizesrisksaccordingstosthespotentialseffectsonsthesorg
anization.sJamesswantssansinteractivestoolsthatswillsadequatelysidens-sC
Whichsonesofsthesfollowingsissasmajorsbenefitsthatsblockchainstechnologysprovidesstos
holisticsrisksmanagement?
A.sBecausesofstheirssecurity,sblockchainsscanseliminatesthesneedstosverifysthesaccurac
ysofsrisksmanagementsdata.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Futurenurses. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.89. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83662 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now