Risk Management Process Quiz Risk Management Process Quiz Risk Management Process If you are human, leave this field blank.Risk Management Process QuizRisk Management Process1. __ is a condition in which there is a possibility of an adverse deviation from a desired outcome that is expected or hoped for.A. LossB. ProfitC. RiskD. Uncertainty2. Risk is measurable __ A. LossB. ProfitC. UncertaintyD. None of the above3. Which of the following is the method of risk identification?A. InsuranceB. Standard deviation methodC. Checklist methodD. None of these4. If any risk is concerned with financial loss, it is termed as __ A. Business riskB. Business lossC. Financial riskD. Insurable claim5. Willingness to retain the whole or part of a given risk is called __ A. Risk retentionB. Risk carryingC. Risk bearingD. None of the above6. A process that involves prioritizing risks for further action or analysis by assessing the impact and the probability of occurrence is called:A. Qualitative Risk AnalysisB. Risk BrainstormingC. Quantitative Risk AnalysisD. Risk Retrospective7. When do you perform Risk Identification?A. At the beginning of a project.B. During project planning.C. During the whole lifetime of a project.D. During project execution.8. As a part of your project, you need to organize a conference. You learn that in the place that you rented there’s a 70% chance of a tropical storm on the selected dates. How should you handle such risk?A. Change the location of the conference.B. Buy insurance to cover possible damage.C. Book another place nearby to mitigate the risk of the first location being unavailable due to the storm.D. Inform all participants of the possible storm.9. Who should be involved in Risk Management activities?A. Only Project Team.B. Only Project Manager.C. As many stakeholders as practical.D. All stakeholders except clients.10. After you performed Qualitative Risk Analysis you need to create:A. A prioritized list of risks.B. List of risks for additional analysis and investigation.C. List of urgent risksD. Watch listE. All the above11. After reviewing Risk Register you see two critical risks that you anticipate during the next week. What should you do with this knowledge?A. Do nothing. Your Risk Register is shared with the team and stakeholders.B. Reach out to the stakeholders and the responsible person with a reminder.Student InformationNameEmailreCAPTCHA is required.Submit