PMI-RMP Practice Test 5 — 10 Questions

Question 1

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 2

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 3

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 4

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 5

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

Question 6

During a risk review, a stakeholder asks why a risk's impact has not changed despite a completed mitigation plan. What is the most likely cause?

Accepted Answer

The mitigation addressed probability, not impact. If the risk is an 'inherent' risk, mitigation might reduce probability but not the theoretical impact, or the plan was ineffective.

Answer

The project manager forgot to save the update

Answer

The risk is a secondary risk

Answer

The risk register is corrupted

Question 7

Which TWO of the following are benefits of conducting regular risk workshops?

Accepted Answer

Improving stakeholder buy-in and awareness. Regular workshops keep risk awareness high and ensure the register stays relevant.

Answer

Assigning project tasks to team members

Answer

Automating the project budget

Answer

Replacing the project management plan

Question 8

Which THREE steps are part of the 'Qualitative Risk Analysis' process?

Accepted Answer

Categorize risks for analysis. This process involves evaluating probability/impact, ranking, and categorizing.

Answer

Execute the risk response

Answer

Perform a Monte Carlo simulation

Question 9

Who is primarily responsible for maintaining the risk register throughout the project?

Accepted Answer

Project Manager. The Project Manager is responsible for ensuring that the risk register is kept current.

Answer

Risk Management Team

Answer

Project Sponsor

Answer

Risk Owner

Question 10

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

Accepted Answer

Avoid. Common negative risk strategies include Avoid, Transfer, Mitigate, and Accept.

Answer

Exploit

Answer

Enhance

Answer

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