Five multiple-choice questions related to risk management that you might see on the PMP exam:
Which of the following is not a risk response strategy?
a) Risk avoidance
b) Risk acceptance
c) Risk reduction
d) Risk enhancement
Answer: d) Risk enhancement
Which of the following tools and techniques is used to identify risks in a project?
a) Monte Carlo analysis
b) Ishikawa diagram
c) Risk probability and impact matrix
d) Stakeholder analysis
Answer: b) Ishikawa diagram
Which of the following statements best describes the purpose of risk management in a project?
a) To eliminate all risks from the project
b) To reduce the impact of risks on the project
c) To ensure that all risks are documented in detail
d) To identify and manage risks to improve project outcomes
Answer: d) To identify and manage risks to improve project outcomes
Which of the following is not a technique for quantitative risk analysis?
a) Sensitivity analysis
b) Expected monetary value analysis
c) Monte Carlo analysis
d) Expert judgment
Answer: d) Expert judgment
Which of the following is a type of risk that can arise from a lack of resources on a project?
a) Schedule risk
b) Cost risk
c) Resource risk
d) Technical risk
Answer: c) Resource risk