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M_o_R Foundation Risk Management Certification Practice Test

MORF test Format | Course Contents | Course Outline | test Syllabus | test Objectives

EXAM CODE: MORF
EXAM NAME: M_o_R Foundation Risk Management Certification

The M_o_R Guide is intended to help organizations put in place an effective framework for risk
management. This will help them make informed decisions about the risks that affect their strategic-
programme- project and operational objectives.
The guide provides a route map for risk management- bringing together basic concepts- an approach- a
process with a set of interrelated process steps- and pointers to more detailed sources of advice on risk
management techniques and specialisms. It also provides advice on how the principles- approach and
processes should be embedded- reviewed and applied differently depending on the nature of the
objectives at risk.
The primary purpose of the syllabus is to provide a basis for accreditation of people involved with
M_o_R. It documents the learning outcomes related to the use of M_o_R and describes the
requirements a candidate is expected to meet to demonstrate that these learning outcomes have been
achieved at each qualification level.
The target audience for this document is:
 test Board
 test Panel
 AXELOS Assessment Team
 Accredited Training Organizations.
This syllabus informs the design of the exams and provides accredited training organizations with a
more detailed breakdown of what the exams will assess. Details on the exam

- Risk 1.2- Glossary
- Issue Glossary
- Threat 1.2- Glossary
- Opportunity 1.2- Glossary
- 02 Corporate governance terms used in the M_o_R framework: 
- Risk exposure 1.2- Glossary
- Risk management 1.3- Glossary
- Corporate governance 1.6- Glossary
- Long-term
- Medium-term
- Short-term
- The seven principles that enable risk management 2.2 – 2.8
- The principle that results from implementing risk
- Aligns with objectives
- Fits the context
- Engages stakeholders
- Provides clear guidance
- Informs decision-making
- Facilitates continual improvement
- Creates a supportive culture
- Achieves measurable value.
- Aligns with objectives
- Fits the context
- Engages stakeholders
- Provides clear guidance
- Informs decision-making
- Facilitates continual improvement
- Creates a supportive culture
- Achieves measurable value
- Aligns with objectives.
- Fits the context
- Engages stakeholders
- Provides clear guidance
- Informs decision-making
- Facilitates continual improvement
- Creates a supportive culture
- Achieves measurable value
- KPIs
- EWIs
- Tolerance threshold
- Stakeholder analysis
- Approach documents
- Health check
- Maturity model
- Lessons learned
- 2.2 – 2.9
- Risk management policy
- Risk management process guide
- Risk management strategy
- 3.1
- Risk management policy
- Risk management process guide
- Risk management strategy
- Risk Register
- Issue Register
- Risk improvement plan
- Risk communications plan
- Risk response plan
- Risk progress report
- Scales for estimating probability and impact
- Risk categories
- Risk appetite for the activity
- Risk tolerance thresholds for the activity
- Reporting lines- owners of contingent plans- duties of the risk
- Risk description
- Risk category
- Probability
- Impact
- Proximity
- Risk status
- Risk response actions
- Appendix A.4.1
- Risk management policy
- Risk management process guide
- Risk management strategy
- Risk register
- Issue register
- Risk improvement plan
- Risk communications plan
- Risk response plan
- Risk progress report
- Probability (inherent and residual) 4.6 – 4.9-
- Impact (inherent and residual) Glossary
- Proximity
- The steps in the M_o_R process 
- The primary steps in the M_o_R process 4.1- 4.4 – 4.9
- The sub-steps in the Identify and Assess steps 4.1- 4.4 – 4.7
- The sequence of the steps 4.1- 4.4 – 4.9
- Strategic
- Programme
- Project
- Operational
- Strategic
- Programme
- Project
- Operational
- Strategic
- Programme
- Project
- Operational
- Strategic
- Programme
- Project
- Operational
- The risk management responsibilities of the senior team
- Writes and owns the risk management policy
- Defines the overall risk appetite
- Reviews the risk management strategy
- Cause
- Event
- Effect
- Risk response planning technique:
- Avoid a threat
- Exploit an opportunity
- Reduce a threat
- Enhance an opportunity
- Transfer the risk
- Share the risk
- Accept the risk
- Prepare contingent plans
- Expected value
- Monte Carlo simulation
- Sensitivity analysis
- Probability tree
- Decision Tree
- Cost benefit analysis
- Summary Risk Profile
- Exposure Trends
- Business continuity management
- Incident and crisis management
- Health and safety management
- Security risk management
- Financial risk management
- Environmental risk management
- Reputational risk management
- Contract risk management

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MORF
M_o_R Foundation Risk Management Certification
https://killexams.com/pass4sure/exam-detail/MORF
Answer: B
QUESTION: 131
What provides a comparison of completed risk response actions with planned outcomes?
A. Risk management strategy
B. Risk improvement plan
C. Risk progress report
D. Risk response plan
Answer: C
QUESTION: 132
Which is a purpose of 'embedding and reviewing' M_o_R?
A. Maximizing the return on investment in risk management
B. Assuring the appointment of risk owners
C. Ensuring the availability of appropriate techniques used in the risk management process
steps
D. Reporting on the risk response plan'
Answer: A
QUESTION: 133
Which is NOT a purpose of 'embedding and reviewing M_o_R'?
A. Assessing the implementation of risk management
B. Improving the risk culture of an organization
C. Reviewing risk descriptions as a result of changes to the context
D. Identifies the opportunities for updating existing risk management practices.
Answer: C
QUESTION: 134
Identify the missing words in the following sentence. In order to safeguard value-creating
39
] is used to build an effective response to threats.
activities, [ ?
A. corporate governance
B. business continuity management
C. programme management
D. project management
Answer: B
QUESTION: 135
Which describes 'residual' risk exposure?
A. Probability of a secondary risk occurring
B. Effect on objectives if a risk occurs after implementing risk response actions
C. Chance of a risk occurring before risk response actions commence
D. Proximity of a risk before risk response actions are completed
Answer: B
QUESTION: 136
Which information from the risk register is used during the 'assess - evaluate' step to
calculate the total risk exposure of an activity?
A. Identified risks resulting from a risk response action
B. Estimated likelihood of the risks occurring
C. Exposure of the risks after completion of risk responses
D. The timeframe in which the risks are likely to occur
Answer: B
QUESTION: 137
Which is a responsibility of a 'risk actionee'?
A. Identify risks that might occur to activities in their department
B. Develop strategies to Strengthen the management of risk
C. Manage all aspects of an assigned risk
40
D. Perform a risk response action to respond to a particular risk
Answer: D
QUESTION: 138
Which is a purpose for an �M_o_R health check�?
A. Review how well risk management practices have been embedded
B. Examine future developments that may affect an organization's level of exposure to risk
C. Provide a snapshot of the current status of identified risks
D. Identify individuals or groups of individuals that have an interest in an organizations
planned activity
Answer: A
QUESTION: 139
Which describes the threat response option 'accept the risk'?
A. Perform an action to minimize the impact of the risk should it occur
B. Carry out an action to make the uncertain situation certain
C. Take no action except monitor the risk to ensure it remains tolerable
D. Partake in a pain/gain contract with another party for the specified risk
Answer: C
QUESTION: 140
Which is identified by the use of the 'PESTLE' analysis technique?
A. Stakeholders involved in an activity
B. Roles and responsibilities of those involved in an activity
C. Factors that may impact the activity
D. Net effect of risks identified during an activity
Answer: C
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M_o_R Foundation Risk Management Certification Practice Test

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