ARM 401 exam 2023 with 100% correct answers strategic risk - correct answer uncertainties associated with the organizations long term goals and management decisions operational risk - correct answer uncertainties associated with the organizations procedures, systems, and policies financial risk - correct answer uncertainties associated with the organizations financial activities facilitated workshops - correct answer a neutral party, who has no stake int he outcome or participation responsibilities, administers the risk workshop and propels the group to achieve its goal delphi technique - correct answer uses opinions of a select group of experts to identify risks scenario analysis - correct answer identifies risks and predicts the potential consequences of those specific risks HAZOP - correct answer a team of subject matter experts and stakeholders identifies the risks associated with a given process and recommends a solution primarily used to design complex, scientific systems such as those used in engineering, chemical, mechanical, electronic, and computer operations.SWOT analysis - correct answer strengths, weaknesses, opportunities, and threats this is a team approach thats useful in analyzing a new project or product 1 / 2
risk threshold - correct answer the range or amount of risk that is acceptable sensor - correct answer a device that detects and measures stimuli in its environment radio frequency identification (RFID) - correct answer a technology that uses radio frequency to identify objects artificial intelligence - correct answer computer process or output that stimulates human reasoning or knowledge computer vision - correct answer a technology that simulates human vision risk register - correct answer a tool developed at the risk owner level that links specific activities, processes, projects, or plans to a list of identified risks and results of risk analysis and evaluation and that is ultimately consolidated at the enterprise level risk map - correct answer a template depicting the likelihood and potential impact/consequences of risk identify, prioritize, and quantify risks in a two dimensional pictorial that illustrates frequency and severity on vertical and horizontal axes process flow analysis - correct answer dissects processes within the organization from input to output for the purpose of improving them audits - correct answer internal and external audits have the potential to identify both negative risks and opportunity risks cause and effect analysis - correct answer identifies the possible reasons, direct and contributory, that caused a negative event or problem by looking backwards through a defective process
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