RIMS-CRMP EXAM STUDY GUIDE with
complete solutions latest 2025/2026
Benchmarking - correct answerThe process of measuring the performance of an
organization against external standards of reference that frequently come from similar
organizations doing similar things.
Corporate Governance - correct answerThe system of rules, practices and processes
by which a company is directed and controlled.
Enterprise Risk Management - correct answerA 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 - correct answerComparison of an existing process or procedure to
recognize standards in order to identify deficiencies or excesses in the existing process.
Key performance indicator (KPI) - correct answerAs activity that signals the
achievement of organizational objectives, emphasize opportunities and strategic
objectives.
Key risk indicator (KRI) - correct answerdesigned to manage downside risk. A
measurement of how risk and volatility relate to achieving organizational objectives,
PESTLE Analysis - correct answerPESTLE 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 - correct answerThe effect of uncertainty on objectives.
Risk Appetite - correct answerThe 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 - correct answerAn 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 - correct answerThe 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 - correct answerAny person in an organization who is a leader and
influences peers regarding the value that risk management adds to the organization.
