Q1:Tools / techniques to perform quantitative risk analysis are: A) Decision Tree Analysis B) Influence Diagrams C) Monte Carlo Simulation D) All of these are used

Q2:Four strategies used to take advantage of positive risks (opportunities) are: A) Exploit, Share, Enhance, Accept B) Plan, Do, Study, Act C) Avoid, Transfer, Mitigate, Accept ) D Acquire, _ Share. Reiect. Enhar

Q3: Which of the following statements is always true: A) A sensitivity analysis helps to determine which individual project risks have the most potential impact on project outcomes. B) All are true. C) A risk is an uncertain event or condition that adversely affects a project if it occurs. D) A probability and impact matrix is developed mostly during quantitative risk assessment.

Q4:Positive risks are also called: A) Strengths B) Advantages C) Opportunities D) There are no positive risks

Q5:You just found out that a company you are using in your project has delivered products late for two recent projects. If this supplier is late for your project, it can lead to losses for the project. You decide to implement a contract that requires the supplier to compensate you for any losses that might take place due to late deliveries. This is an example of risk A) Mitigating B) Rejecting C) Transferring D) Avoiding

Q6:If a project has a 50 percent chance of achieving a $40,000 profit and a 50 percent chance of causing a $10,000 loss, what is the expected monetary value of the project? A) $30.000 O B) $25,000 C) $45,000 O D) $15.000

Q7:A key supplier has notified your company that they are going out of business in four months. You have a proiect that begins two months from now. How do you handle this? A) Take the risk responses from other existing projects and use them to address this risk in your project. B As this is a known and certain event it is not a risk: vou should work with your procurement team for now to handle this event C) When your project starts, add it to the risk register. D) During qualitative risk assessment highlight it as a very high probability risk

Q8:During a new product development project at a major food manufacturer, you developed software to manage raw ingredient purchases. This software was so successful your company decided to 'spin-off' the software as a joint venture with a technology company. This is best described as: A) Enhancing Positive Risk B) Enhancing Negative Risk C) Sharing Positive Risk D) Exploiting Positive Risk

Q9:You have an important project decision regarding launch timing. There are so many factors regarding this decision (suppliers, retailers, consumers, advertising costs, launch costs, promotion costs, uncertainty regarding customer adoption) that you decide to gather the team together to brainstorm potential risks for the launch. This is best described as: A) Identify Risks B) Qualitative Risk Assessment C) Plan Risk Management D) Quantitative Risk Assessment

Q10:The risk rating: A) cannot be used to determine whether a risk is considered low, moderate, or high. ( B) is a commonlv-used techniaue for risk avoidance. C) is calculated by multiplying the probability of the occurrence of a risk times Its impact inumerica scale on an obiective le.g.. cost. time, scope, or quality if it were to occur. ( D) is the sum of sauares of the scale values assigned to the estimates of probability and impact.

Q11:Effective and appropriate. can minimize individual threats, maximize individual opportunities, and reduce overall risk exposure. A) Work Performance Reporting B) Risk Probability Assessment Matrices C) Risks Registers O D) Risk Responses

Q12:Which of the following items is true regarding a probability and impact matrix? A) It is an example of a RAM B) It is a part of the risk management plan C) It only includes values for negative risks D) All are true

Q13:During an activity to identify risks for your project, a team member argues that risks classified as 'very high' should have probabilities over 80% or costs over $7 million dollars. As a PMI certified PMP your best response to this request would be to: A) Explain that risk definitions are established in risk planning and to refer the team member to cne risk aetinitions within the risk management plan B) Explain that the team is conducting qualitative risk analysis and numbers shoula not be aiscussea at tnis time, numbers will be reviewed in quanttative risk analysis c) Explain that risk definitions can only be changed in quantitative risk assessment by the sponsor of the project. D) Explain that definition of risk probabilities only occurs in the monitoring of rISKS