RIMS-CRMP EXAM STUDY GUIDE (Download To Score An A)
Benchmarking
The process of measuring the performance of an organization against external
standards of reference that frequently come from similar organizations doing
similar things.
Corporate Governance
The system of rules, practices and processes by which a company is directed and
controlled.
Enterprise Risk Management
A strategic discipline that supports the achievement of an organization’s
objectives by addressing the full spectrum of its risk and managing the combined
impact of those risks as an interrelated risk portfolio.
Gap Analysis
Comparison of an existing process or procedure to recognize standards in order to
identify deficiencies or excesses in the existing process.
Key performance indicator (KPI)
As activity that signals the achievement of organizational objectives, emphasize
opportunities and strategic objectives.
Key risk indicator (KRI)
designed to manage downside risk. A measurement of how risk and volatility
relate to achieving organizational objectives,
PESTLE Analysis
PESTLE is an acronym for Political, Economic, Social, Technology, Legal and
Environmental and identifies the categories utilized to analyze internal and
external environments. Other forms of the acronym include “PEST” and “PESTEL.”
Risk
The effect of uncertainty on objectives.
Risk Appetite
The total exposed amount that an organization wishes to undertake on the basis
of risk return trade-offs for one or more desired and expected outcomes
Risk Attitude
An organization’s or individuals’ view/perspective of the perceived qualitative and
quantitative value that may be gained in comparison to the related potential loss
or losses.
RIMS-CRMP EXAM STUDY GUIDE (100% Guaranteed Pass)
Benchmarking
The process of measuring the performance of an organization against external standards of reference
that frequently come from similar organizations doing similar things.
Corporate Governance
The system of rules, practices and processes by which a company is directed and controlled.
Enterprise Risk Management
A strategic discipline that supports the achievement of an organization’s objectives by addressing the
full spectrum of its risk and managing the combined impact of those risks as an interrelated risk
portfolio.
Gap Analysis
Comparison of an existing process or procedure to recognize standards in order to identify deficiencies
or excesses in the existing process.
Key performance indicator (KPI)
As activity that signals the achievement of organizational objectives, emphasize opportunities and
strategic objectives.
Key risk indicator (KRI)
designed to manage downside risk. A measurement of how risk and volatility relate to achieving
organizational objectives,
PESTLE Analysis
PESTLE is an acronym for Political, Economic, Social, Technology, Legal and Environmental and identifies
the categories utilized to analyze internal and external environments. Other forms of the acronym
include “PEST” and “PESTEL.”
Risk
The effect of uncertainty on objectives.
Risk Appetite
The total exposed amount that an organization wishes to undertake on the basis of risk return trade-offs
for one or more desired and expected outcomes
Risk Attitude
An organization’s or individuals’ view/perspective of the perceived qualitative and quantitative value
that may be gained in comparison to the related potential loss or losses.
Risk Culture
The beliefs, values, norms and traditions of behavior of individuals and groups within an organization
that determine the way in which they identify, understand, discuss and act on the risk(s) the
organization confronts and takes.
Risk Champion
Any person in an organization who is a leader and influences peers regarding the value that risk
management adds to the organization.