PMI-RMP Practice Test 1 — 10 Questions

Question 1

A risk audit has just been completed. What is the most critical activity to perform with the findings?

Accepted Answer

Update the risk management plan and register. Integrating findings into the risk process improves the project's risk management approach for the future.

Answer

Discard the report to avoid negative visibility

Answer

Request a project budget increase immediately

Answer

Send the report to external regulatory bodies

Answer

Delete the risks identified during the audit

Question 2

Which THREE types of risks should always be included on a 'Watchlist' for regular monitoring?

Accepted Answer

Accepted risks that do not require active mitigation. Low-priority, accepted, and deferred risks belong on the watchlist.

Answer

Risks that have already been resolved

Answer

Critical path risks

Question 3

You are setting up a regular risk review meeting. Who is the most important attendee to invite?

Accepted Answer

The Risk Owner for the specific risks being reviewed. The Risk Owner is essential as they manage the specific risk and the response plan.

Answer

The entire project team

Answer

All project stakeholders

Answer

The external auditor

Question 4

You are managing a project with a 'high' risk profile. Stakeholders request a report that shows the 'Residual Risk' vs 'Target Risk' levels. What does this indicate?

Accepted Answer

The gap shows the extent of required further mitigation. The gap between residual and target risk shows how much additional mitigation is required to reach the desired risk state.

Answer

The project is over budget

Answer

The project is ahead of schedule

Answer

The project risk is fully mitigated

Question 5

Which TWO of the following techniques are commonly used for identifying risks during project initiation?

Accepted Answer

Interviewing. Brainstorming and interviewing are standard techniques for gathering initial information.

Answer

Sensitivity Analysis

Answer

Decision Tree Analysis

Answer

Monte Carlo Simulation

Question 6

During a risk workshop, stakeholders disagree on the impact of a technical risk. Which tool is most effective for resolving this conflict?

Accepted Answer

Standardized Probability and Impact Matrix. The Probability and Impact Matrix provides a standardized scale that guides objective consensus on severity.

Answer

Assumption Analysis

Answer

Risk Data Quality Assessment

Answer

Expert Judgment

Question 7

Which TWO of the following should be included in a risk report to executive management?

Accepted Answer

Summary of the top high-level risks. Executives need the 'big picture' view, including major risks and the status of contingency.

Answer

The project manager's personal performance review

Answer

Detailed minutes of every risk meeting

Answer

List of every minor technical task

Question 8

During a risk workshop, stakeholders identify a risk that could impact multiple departments. How should this be handled?

Accepted Answer

Document the risk and ensure all affected department leads are involved in response planning. Risks affecting multiple departments must be clearly communicated to all stakeholders, and cross-functional owners should be identified.

Answer

Assign one department head as the owner

Answer

Ignore the risk until it impacts a specific department

Answer

Delegate the risk to the project sponsor

Question 9

You are managing a global project and need to perform a quantitative risk analysis. The data provided by local offices varies significantly in quality. What is your first step?

Accepted Answer

Perform a Risk Data Quality Assessment. Before performing quantitative analysis, one must ensure the data is reliable to avoid 'garbage in, garbage out'.

Answer

Discard the data from the office with the lowest quality

Answer

Proceed with Monte Carlo simulation and interpret the wide variance

Answer

Normalize the data using a standard deviation calculation

Question 10

Which facilitation technique involves presenting an anonymous survey to experts to reach a consensus on risk impacts?

Accepted Answer

Delphi Technique. The Delphi technique is specifically designed for anonymous expert consensus.

Answer

Brainstorming

Answer

Root Cause Analysis

Answer

Interviewing