PRINCE2F PRINCE2 Practices Practice Question
Which THREE of the following are correct statements about the Risk Management procedure in PRINCE2?
⚠ Common exam trap
A common mistake is confusing the Assess step, where risks are assessed and evaluated, with the Plan step, where risk owners and actionees are formally assigned to specific responses.
Answer choices
Why each option matters
Answer the question above first, then reveal the full breakdown to understand why each option is right or wrong.
Correct answer & explanation
✓
The risk budget is used to fund risk responses
The risk budget is a specific sum of money set aside in the project budget to fund risk responses for identified threats. PRINCE2 mandates that the risk budget is used exclusively for implementing risk responses, not for general contingencies or other project costs.
Answer analysis
Option-by-option breakdown
For each option: why learners choose it and why it is or isn't the right answer here.
- ✓
The risk budget is used to fund risk responses
Why this is correct
Risk responses may be funded from the risk budget.
- ✓
The procedure consists of five steps: Identify, Assess, Plan, Implement, Communicate
Why this is correct
This is the correct sequence.
- ✗
Risk owners and risk actionees are assigned during the Assess step
Why it's wrong here
Owners and actionees are assigned during the Plan step.
- ✗
Only threats are considered; opportunities are handled separately
Why it's wrong here
PRINCE2 manages both threats and opportunities.
- ✓
Communication is a continuous step throughout the procedure
Why this is correct
Communication occurs throughout all steps.
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Written by Johnson Ajibi, MSc IT Security
Senior Network & Security Engineer · founder of Courseiva
This PRINCE2F practice question is part of Courseiva's free PeopleCert certification practice question bank. Courseiva provides original exam-style practice questions with explanations, topic-based practice, mock exams, readiness tracking, and study analytics to help learners prepare for the PRINCE2F exam.