PMI-RMP Practice Test 2 — 25 Questions

Question 1

A project manager is using a 'Monte Carlo' simulation for risk monitoring. What is the main purpose of updating this simulation during the project?

Accepted Answer

To reflect current actuals and improve accuracy of future forecasts. Simulations must be updated with current performance data to maintain accurate forecasts of project outcomes.

Answer

To make the project look better to stakeholders

Answer

To keep the simulation software updated

Answer

To replace the need for qualitative risk assessments

Question 2

You are reviewing a 'Risk Burndown' chart and see that it is flat. What does this mean?

Accepted Answer

No risk mitigation or closure has occurred. A flat line indicates that no risks have been closed or mitigated during the period, suggesting progress in risk management has stalled.

Answer

The project is completed

Answer

The risk management process is highly effective

Answer

Risks are being identified faster than they are being closed

Question 3

During project execution, you find that the 'Risk Response Owner' is not reporting updates. How should this be addressed within the project governance framework?

Accepted Answer

Escalate the accountability issue to the project sponsor. Escalation to the project sponsor or steering committee is the standard way to resolve accountability issues.

Answer

Update the risk yourself and hide the lack of participation

Answer

Assign a new owner without informing the original owner

Answer

Remove the risk from the register

Question 4

Which THREE criteria are commonly used to prioritize risks for reporting in a dashboard?

Accepted Answer

Probability of occurrence. Probability, Impact, and Urgency are the standard dimensions for risk prioritization.

Answer

The name of the software used for tracking

Answer

The birth date of the risk owner

Question 5

Which report type is best suited for providing senior management with a high-level view of current risk status versus the risk appetite threshold?

Accepted Answer

Risk Heat Map. A heat map is a standard tool for showing risk severity against risk appetite.

Answer

Individual Risk Response Plan

Answer

Project Schedule Variance Report

Answer

Risk Register Detail Report

Question 6

During a risk workshop, stakeholders are struggling to differentiate between root causes and symptoms. Which facilitation technique should you employ to ensure the risk register accurately reflects the true origin of risks?

Accepted Answer

Five Whys. The Five Whys technique is a standard facilitation tool for drilling down into root causes during workshops to avoid documenting mere symptoms.

Answer

Delphi Technique

Answer

SWOT Analysis

Answer

Monte Carlo Simulation

Question 7

In a quantitative risk analysis, the cost contingency has been depleted, yet the risk remains. What is the next logical step in the risk process?

Accepted Answer

Escalate the risk to the project board or project sponsor. When contingency is exhausted, the risk must be re-evaluated and potentially escalated to management or the project board.

Answer

Accept the risk without further action

Answer

Update the risk register with a new probability estimate

Answer

Reduce the scope of the project

Question 8

If a qualitative risk analysis is showing inconsistent results, what should you review first?

Accepted Answer

The Risk Management Plan's definitions of probability and impact. Inconsistent results often stem from poorly defined risk definitions or subjective interpretations of the probability and impact scales.

Answer

The project charter

Answer

The risk register

Answer

The project budget

Question 9

Which TWO of the following are potential causes of a 'non-converging' Monte Carlo simulation?

Accepted Answer

Circular logic dependencies in the project schedule.. Non-convergence is usually caused by excessive complexity (e.g., circular logic) or insufficient iterations relative to the model's volatility.

Answer

The use of a GUI-based interface.

Answer

Assigning too many resources to a task.

Answer

Using a modern, high-speed processor.

Question 10

You are assessing the effectiveness of a risk mitigation strategy. Which metric best indicates if the mitigation is working?

Accepted Answer

The change in residual risk exposure. A reduction in the residual risk score relative to the initial risk score indicates effective mitigation.

Answer

Number of audit findings related to risk

Answer

Total number of risks managed

Answer

The frequency of steering committee meetings

Question 11

What is the purpose of 'Risk Reassessment' sessions held throughout the project?

Accepted Answer

To identify new risks and retire old ones. Reassessment ensures that the risk register stays relevant as the project environment changes.

Answer

To ensure compliance with the procurement plan

Answer

To change the project manager

Answer

To increase the contingency budget

Question 12

Which TWO features in a modern PMIS are best suited for automated 'Risk Monitoring'?

Accepted Answer

Dynamic dashboard updates based on register changes. Email alerts for triggers and automated dashboard updates are core automation features.

Answer

Manual typing of risk descriptions

Answer

Automatic deletion of risks after 30 days

Answer

Manual spreadsheet export to PDF

Question 13

Which TWO pieces of information are critical to include when logging a new risk in the register?

Accepted Answer

A clear description of the risk event. The risk description and the owner are essential for any risk entry.

Answer

The office location of the project team

Answer

The historical performance of the company

Answer

The salary of the risk owner

Question 14

Which THREE techniques are suitable for facilitating risk identification with a remote team?

Accepted Answer

Online surveys (e.g., Delphi). Tools that support digital collaboration are best for remote teams.

Answer

Face-to-face post-it note sessions

Answer

In-person town hall meetings

Question 15

Which TWO of the following are considered 'Risk Triggers'?

Accepted Answer

A sudden drop in vendor quality. Triggers are early warning signs that a risk is about to occur.

Answer

The project office moving locations

Answer

The end of the fiscal year

Answer

The project manager's birthday

Question 16

When reporting to an external regulatory agency, how should you present 'Risk Exposure'?

Accepted Answer

Present a summary of risk exposure and mitigation efficacy. Regulatory reporting requires clarity and evidence-based assessment, often focusing on identified, documented, and mitigated risks.

Answer

Omit any risks that have been mitigated

Answer

Only report risks with a low probability

Answer

Present the full Risk Register with all sensitive data

Question 17

You are monitoring risks and notice that a 'Secondary Risk' has appeared. What should you do first?

Accepted Answer

Add it to the Risk Register and assess its impact. All new risks must be analyzed for their own impact and probability before being added to the register.

Answer

Immediately initiate the contingency reserve

Answer

Ignore it if it is small

Answer

Call the sponsor to discuss the project failure

Question 18

Which tool in your PMIS allows you to track the 'Risk Response' implementation status across multiple work streams?

Accepted Answer

Risk Register Status Report. A dashboard or a filtered list view in a PMIS allows for aggregated tracking of status across the project.

Answer

Individual Risk Response Plan

Answer

Project Charter

Answer

Risk Impact Analysis Matrix

Question 19

When facilitating a risk workshop, how do you handle a suggestion that is clearly out of scope for the current project?

Accepted Answer

Acknowledge the input and record it in the 'Parking Lot' for future consideration. Address the suggestion respectfully and document it as a potential item for future consideration or outside the project's current bounds.

Answer

Include it in the risk register anyway

Answer

Ask the stakeholder to leave

Answer

Immediately dismiss it

Question 20

What is the primary role of a 'Risk Owner'?

Accepted Answer

To monitor the risk and manage the response strategy. A risk owner is responsible for monitoring the risk and implementing the agreed-upon response.

Answer

To perform quantitative analysis

Answer

To fund the mitigation

Answer

To identify all project risks