APM Project Risk Management Single Subject Certificate Level 1 ...

APM Project Risk Management Single Subject Certificate Level 1 – Sample paper1) An opportunity is defined as:a. An appropriate option for dealing with a riskb. A risk with a potential beneficial outcomec. Something which may pose a riskd. A way of managing a threat to the project objectives2) Quantitative schedule risk analysis using Monte Carlo simulation can be used tocalculate:a. Earned valueb. Net present valuec. Criticality indexd. Three-point estimates3) A risk management plan should include:a. A Monte Carlo simulationb. Identified risks and control actionsc. The risk management organisationd. An event tree4) A benefit of project risk management is:a. It discourages the acceptance of financially unsound projectsb. Risks can be transferred to other people at no costc. It will justify high contingencyd. The risks can all be managed by the project team5) ‘Risky shift’ is evidenced by a tendency for the project team:a. To employ a wide range of risk management techniquesb. To be more risk-seeking than its constituent individualsc. To readily develop the capability to deal with high levels of uncertaintyd. To be more risk-averse than its constituent individuals6) The point on a probability distribution with the highest probability of occurrence iscalled the:a. Meanb. Medianc. Moded. QuartileRL1 sample questions v1.0 9th March 2009