APM Project Risk Management Single Subject Certificate Level 1 – Sample paper
APM Project Risk Management Single Subject Certificate Level 1
Candidate reference number:
___________________________
Date of exam:
___________________________
Location of the exam:
____________________________
General notes
In the actual examination, you will be allowed 1 hour to answer all the questions. Please
note this is a sample paper and only contains 15 questions. The actual examination will
contain 60 multiple choice questions – you will need to answer all 60 questions.
In the examination, you will be provided with a proforma answer sheet. Below is an
example of how to complete it. This example is for illustrative purposes only; you do not
need to complete it for the sample paper.
Completing the proforma answer sheet
• Use HB pencil provided to complete the proforma answer sheet
• Each entry is to be made with a HORIZONTAL line in the spaces indicated
• Errors must be removed using a good quality eraser – as provided
● Enter the test number and your candidate reference number (found on the front of
the envelope you received) on to your answer sheet, following the example set out
below:
Registration number 004079
CANDIDATE REGISTRATION
NUMBER
(0) (0) (0) (0) (0) (0)
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(9) (9) (9) (9) (9) (9)
RL1 sample questions v1.0 9th March 2009
Test number S1001
TEST NUMBER
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(O)
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APM Project Risk Management Single Subject Certificate Level 1 – Sample paper
1) An opportunity is defined as:
a.
b.
c.
d.
An appropriate option for dealing with a risk
A risk with a potential beneficial outcome
Something which may pose a risk
A way of managing a threat to the project objectives
2) Quantitative schedule risk analysis using Monte Carlo simulation can be used to
calculate:
a.
b.
c.
d.
Earned value
Net present value
Criticality index
Three-point estimates
3) A risk management plan should include:
a.
b.
c.
d.
A Monte Carlo simulation
Identified risks and control actions
The risk management organisation
An event tree
4) A benefit of project risk management is:
a.
b.
c.
d.
It discourages the acceptance of financially unsound projects
Risks can be transferred to other people at no cost
It will justify high contingency
The risks can all be managed by the project team
5) ‘Risky shift’ is evidenced by a tendency for the project team:
a. To employ a wide range of risk management techniques
b. To be more risk-seeking than its constituent individuals
c. To readily develop the capability to deal with high levels of uncertainty
d. To be more risk-averse than its constituent individuals
6) The point on a probability distribution with the highest probability of occurrence is
called the:
a.
b.
c.
d.
Mean
Median
Mode
Quartile
RL1 sample questions v1.0 9th March 2009
APM Project Risk Management Single Subject Certificate Level 1 – Sample paper
7) Which of the following is a correct and complete definition of project risk, according
to the PRAM Guide?
a.
b.
c.
d.
The exposure of outcomes to the consequences of variation in risk
The exposure of projects to the consequences of variation in stakeholders
The exposure of stakeholders to the consequences of variation in outcomes
The exposure of risks to the consequences of variation in projects
8) A risk manager will get buy-in to the process from the project manager:
a.
b.
c.
d.
By providing the appropriate tools
Through training, communication and allocation of appropriate resources
By appealing to the managing director for support
By using Monte Carlo simulation
9) Which of the following is NOT a risk identification technique?
a.
b.
c.
d.
Brainstorming
Assumptions analysis
SWOT analysis
Sensitivity analysis
10) Most statistical simulations of project risk use which approach:
a.
b.
c.
d.
PERT
Ishikawa diagrams
Net present value calculation
Monte Carlo analysis
11) The aim of risk identification is to:
a.
b.
c.
d.
Identify only threats
Identify responses
Identify stakeholders
Identify all risks
RL1 sample questions v1.0 9th March 2009