PMI-RMP Practice Test 14 — 15 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. A risk audit evaluates the effectiveness of risk management processes and identifies areas for improvement. The most critical follow-up is to update the risk management plan and risk register with findings, ensuring that lessons learned are incorporated and that risk responses are adjusted. This closes the loop on the audit and supports continuous improvement.

Answer

Discard the report to avoid negative visibility

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Request a project budget increase immediately

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Send the report to external regulatory bodies

Answer

Delete the risks identified during the audit

Question 2

You are performing a periodic risk reassessment. A key risk has shifted from 'Low' to 'High' probability. What is the next immediate step in the reporting workflow?

Accepted Answer

Update the Probability and Impact Matrix and trigger a stakeholder notification. When a risk's probability shifts from Low to High, the immediate step is to update the Probability and Impact Matrix to reflect the new risk rating and trigger a stakeholder notification as per the communication plan. This ensures the risk is re-prioritized and stakeholders are aware of the increased exposure. The matrix update is foundational for subsequent response planning.

Answer

Schedule an immediate Steering Committee meeting

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Close the risk and add it to the Issues Log

Answer

Immediately activate the contingency reserve

Question 3

What is the benefit of keeping a historical log of risk events and their outcomes?

Accepted Answer

To provide valuable data for future projects and improve risk identification.. A historical log of risk events and their outcomes (often called a lessons-learned or risk historical database) provides empirical data that feeds future risk identification, qualitative/quantitative analysis, and response planning. Option A captures this core benefit: past events inform probability estimates, impact baselines, and the risk checklists and prompt lists used in Identify Risks. This is explicitly recognized in the PMBOK as an organizational process asset.

Answer

To satisfy legal requirements.

Answer

To create more paperwork for the team.

Answer

To prove that the risk practitioner was right.

Question 4

Which TWO of the following are common risk response strategies for negative risks?

Accepted Answer

Avoid. Option C (Avoid) is correct because avoiding a negative risk means changing the project plan or scope to eliminate the threat entirely, such as removing the risky activity or adopting a proven alternative approach. Option E (Transfer) is correct because transferring a negative risk shifts the financial impact and ownership of the threat to a third party, typically through insurance, warranties, or fixed-price contracts. The other options do not belong: Exploit (A) and Enhance (B) are strategies for positive risks (opportunities), aiming to maximize their probability or impact, and Share (D) is also an opportunity strategy that allocates ownership of a positive risk to a third party best able to capture the benefit.

Answer

Exploit

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Enhance

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Share

Question 5

You are auditing a project and find that the Risk Management Plan was never socialized with the project team. What is the most significant risk of this situation?

Accepted Answer

Risks will not be identified or reported consistently throughout the project.. The Risk Management Plan defines the methodology, roles, responsibilities, budget, timing, and risk categories/thresholds the project will use — so if it is never socialized, team members will apply inconsistent identification techniques, use different probability/impact scales, and report risks through ad hoc channels. This directly undermines the plan's purpose of creating a common, repeatable approach to risk. The most significant consequence is therefore inconsistent risk identification and reporting across the project lifecycle.

Answer

The team will be confused about their project roles.

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The project sponsor will be unhappy.

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The project will be over budget immediately.

Question 6

Which THREE actions are appropriate when a decision tree analysis reveals that the 'Do Nothing' option has a higher EMV than the 'Investigate' option?

Accepted Answer

Re-verify the impact values used for the decision branches.. Option A is correct because the expected monetary value (EMV) of each branch is computed as the sum of probability-weighted impact values, so if 'Do Nothing' unexpectedly beats 'Investigate,' the impact figures feeding the tree should be re-verified for accuracy or omission before trusting the result. Option B is correct because sensitivity analysis (e.g., varying one probability or impact at a time, or using a tornado diagram) shows how robust the 'Do Nothing' advantage is and whether small changes in key variables would flip the decision. Option E is correct because EMV depends directly on probability estimates, and subjective or anchoring bias in those estimates can artificially inflate the 'Do Nothing' branch, so the probabilities should be reviewed for bias and recalibrated. Option C is not appropriate because the tool or software is irrelevant to the analytical result; the issue lies in the inputs or assumptions, not the platform. Option D is not appropriate because acting immediately on a counterintuitive EMV ignores the need to validate inputs and test sensitivity first, and EMV alone does not capture risk tolerance or qualitative factors.

Answer

Delete the decision tree and start over with a new software.

Answer

Immediately proceed with the 'Do Nothing' strategy.

Question 7

Which THREE strategies help in building a strong risk culture within a project team?

Accepted Answer

Integrating risk discussions as a standard agenda item in all team meetings.. Option C is correct because embedding risk discussions as a standing agenda item in every team meeting normalizes risk awareness and makes it a continuous, shared practice rather than an occasional event. Option D is correct because a blame-free environment of open and honest communication encourages early disclosure of risks, which is essential for surfacing threats before they escalate. Option E is correct because recognizing and rewarding proactive risk identification positively reinforces the desired behavior and motivates the whole team to participate in risk management. Options A and B do not belong: centralizing all risk tasks on the project manager undermines shared ownership and team engagement, while hiding risks to prevent stress suppresses transparency and prevents timely mitigation.

Answer

Assigning all risk management tasks to the project manager.

Answer

Hiding risks from the team to prevent stress.

Question 8

Which of the following is an example of a quantitative risk analysis technique?

Accepted Answer

Monte Carlo simulation.. Monte Carlo simulation is a quantitative risk analysis technique that runs thousands of iterations, sampling probability distributions for cost and schedule variables to produce a probabilistic range of outcomes (e.g., P50, P80 completion dates). It is explicitly listed in the PMBOK Guide as a quantitative technique, unlike the other options.

Answer

Risk Probability and Impact Matrix.

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SWOT analysis.

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Risk Data Quality Assessment.

Question 9

Which TWO items should you check to verify if a risk is being monitored appropriately?

Accepted Answer

The 'Last Updated' date in the Risk Register. Option A, the 'Last Updated' date in the Risk Register, is correct because the Risk Register is the living document where each identified risk's status, owner, and response actions are recorded, so a recent update timestamp confirms the risk is actively being tracked rather than left stale. Option E, the agreed-upon frequency in the Risk Management Plan, is correct because the Risk Management Plan defines the cadence (e.g., weekly, monthly, or at each phase gate) at which risks must be reviewed and reassessed, so comparing actual review activity against that frequency verifies monitoring is happening as scheduled. The remaining options are irrelevant to risk monitoring: the weather forecast (B) is an environmental factor, not a risk-tracking artifact; team work hours (C) measure effort, not risk review; and the color of the project binder (D) is purely cosmetic and has no bearing on risk management.

Answer

The weather forecast at the office location

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The number of hours the team works

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The color of the project binder

Question 10

Which THREE factors are primary triggers for conducting an unscheduled 'Risk Reassessment'?

Accepted Answer

Completion of a major project milestone. Option A is correct because completing a major project milestone is a recognized trigger for unscheduled risk reassessment: milestones often invalidate prior assumptions, expose new risks, and change the risk profile, so the risk register must be re-examined. Option C is correct because a major change in project scope alters deliverables, assumptions, constraints, and the probability/impact of existing risks, which mandates an out-of-cycle reassessment rather than waiting for the next scheduled review. Option E is correct because evidence that a current mitigation plan is failing means the risk response is no longer effective, requiring immediate reassessment to re-analyze the risk, adjust response strategies, and identify secondary or residual risks. Option B does not belong because a change of administrative assistant is a routine staffing matter that does not materially alter project risk exposure. Option D does not belong because daily routine status meetings are a regular monitoring and communication activity, not a trigger for an unscheduled risk reassessment.

Answer

Change in the administrative assistant of the team

Answer

Daily routine status meetings

Question 11

Which THREE types of information are most critical to include in a risk status report for a steering committee?

Accepted Answer

The latest updates on major risk mitigation actions.. A steering committee needs decision-grade risk information, so option B (latest updates on major risk mitigation actions) is correct because it shows whether the agreed responses to high-priority risks are on track, stalled, or complete, which directly affects governance decisions and resource allocation. Option C (changes in the risk profile since the last report) is correct because trend information—new risks, closed risks, and shifts in probability or impact—lets the committee see whether overall exposure is increasing or decreasing rather than reviewing a static snapshot. Option D (a summary of the top risks and their current status) is correct because it gives the committee the prioritized view of the most significant threats and opportunities, including current ratings and ownership, which is the core content of a steering-level risk report. Option A does not belong because personal opinions about company culture are subjective and not a risk metric, and option E does not belong because daily task lists are operational detail managed by the project team, not strategic information for a steering committee.

Answer

The personal opinions of the project team on the company culture.

Answer

The daily task list for all project team members.

Question 12

Your project is highly sensitive to regulatory changes. How should you incorporate this into your risk strategy planning?

Accepted Answer

Establish a regulatory risk watch list and define trigger conditions.. For a project highly sensitive to regulatory changes, the risk management plan should include a structured mechanism to monitor the external regulatory environment continuously. A regulatory risk watch list with defined trigger conditions operationalizes this by identifying specific regulations, assigning owners, and specifying the thresholds or events that would activate a risk response — turning an ambiguous 'regulatory uncertainty' into a manageable, trackable risk. This aligns with PMI's emphasis on proactive risk identification and the 'Monitor Risks' process, where triggers are the early-warning signals that prompt contingency plan execution.

Answer

Outsource all regulatory compliance tasks to a third party.

Answer

Increase the reserve budget based on expert judgment.

Answer

Ignore the risk until a specific regulation is passed.

Question 13

A senior leader is pressuring you to downplay a project risk in a report. What is the most professional course of action?

Accepted Answer

Report the risk accurately while providing additional context and mitigation options to address the leader's concerns.. The PMI Code of Ethics and Professional Conduct requires risk practitioners to report risk information accurately and truthfully, regardless of pressure from senior leaders. Option A upholds this by maintaining the integrity of the risk report while also addressing the leader's concerns through added context and mitigation options, which is the balanced professional response. This satisfies both the ethical obligation to be honest and the practical need to manage stakeholder relationships constructively.

Answer

Comply to maintain good relations with the leader.

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Ask the leader to write the report themselves.

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Quietly remove the risk from the report and add it to a private list.

Question 14

When managing risks for a global project, what is a primary consideration for stakeholder communication?

Accepted Answer

Considering cultural differences in risk perception and communication norms.. In global projects, stakeholders span multiple countries and cultures, and risk perception is culturally shaped — what one culture treats as a tolerable schedule risk, another may view as a critical threat requiring escalation. PMI's risk management approach (per the PMBOK Guide and the PMI-RMP Exam Content Outline, particularly the Stakeholder Engagement and Communication domain) requires the risk manager to tailor risk communication to stakeholder needs, including language, hierarchy, formality, and decision-making norms. Option B correctly captures that cultural differences must be factored into how risk information is framed, delivered, and interpreted, which directly supports effective stakeholder engagement and accurate risk response planning.

Answer

Only communicating with the project manager at the central office.

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Standardizing all reports to a single format regardless of local requirements.

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Ensuring all risk communication is in English only.

Question 15

Which THREE elements should be explicitly defined in the Risk Management Plan regarding 'Risk Thresholds'?

Accepted Answer

Specific trigger values for metrics like cost or time variance.. Option B is correct because a Risk Management Plan must state concrete, measurable trigger values — for example, a cost variance of ±10% or a schedule variance of 5 days — so that the team can objectively detect when a risk threshold has been breached. Option C is correct because thresholds are only meaningful if they are calibrated to the organization's documented risk tolerance and appetite, ensuring that escalation and response decisions reflect the enterprise's acceptable exposure levels. Option E is correct because the plan must define who is authorized to approve actions when a threshold is exceeded, such as the sponsor or PMO, along with the required escalation and change-control steps. Option A is incorrect because a sponsor's personal hobby is irrelevant to risk threshold definition and has no bearing on project risk management. Option D is incorrect because report font style is a formatting/presentation detail, not a substantive element of risk thresholds.

Answer

The favorite hobby of the project sponsor.

Answer

The font style for reports.