You are preparing to complete the quantitative risk analysis process with your project team and several subject matter experts. You gather the necessary inputs including the project's cost management plan. Why is it necessary to include the project's cost management plan in the preparation for the quantitative risk analysis process?

• A.The project's cost management plan provides control that may help determine the structure for quantitative analysis of the budget.
• B.The project's cost management plan can help you to determine what the total cost of the project is allowed to be.
• C.The project's cost management plan provides direction on how costs may be changed due to identified risks.
• D.The project's cost management plan is not an input to the quantitative risk analysis process.

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Which of the following is the BEST method to identify unnecessary controls?

• A.Reviewing system functionalities associated with business processes
• B.Evaluating existing controls against audit requirements
• C.Evaluating the impact of removing existing controls
• D.Monitoring existing key risk indicators (KRIs)

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Which of the following is NOT true for risk governance?

• A.Risk governance is based on the principles of cooperation, participation, mitigation and sustainability, and is adopted to achieve more effective risk management.
• B.Risk governance requires reporting once a year.
• C.Risk governance seeks to reduce risk exposure and vulnerability by filling gaps in risk policy.
• D.Risk governance is a systemic approach to decision making processes associated to natural and technological risks.
• E.Explanation:
  Risk governance is a continuous life cycle that requires regular reporting and ongoing review, not
  once a year.

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Which of the following MUST be assessed before considering risk treatment options for a scenario with significant impact?

• A.Cost-benefit analysis
• B.Risk appetite
• C.Incident probability
• D.Risk magnitude

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An organization is considering adopting artificial intelligence (AI). Which of the following is the risk practitioner's MOST important course of action?

• A.Ensure sufficient pre-implementation testing.
• B.Develop key risk indicators (KRIs).
• C.Identify the organization's critical data.
• D.Identify applicable risk scenarios.

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