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1.   Acceptance is a strategy adopted because it is not possible to eliminate all risks from a project. This strategy indicates that the project management team has decided not to change the project management plan to deal with a risk. What action does passive acceptance require?

   A) Passive acceptance is no longer adopted in projects and is not an accepted strategy.
   B) Passive acceptance requires no action except to document the strategy and come up with a risk management strategy.
   C) Passive acceptance requires no action.
   D) Passive acceptance requires no action except to document the strategy.
   

2.  While sequencing activities for a project, the project management team of a project applied certain discretionary dependencies. This was based on their knowledge of best practices within the project application area. What is the potential risk involved in using such dependencies?

   A) They can create fixed float values and create external dependencies.
   B) They can create arbitrary float values and limit later scheduling options.
   C) They can create arbitrary float values and create external dependencies.
   D) They can create arbitrary float values and create mandatory dependencies
   

3.  Risk identification checklists are usually developed based on historical information and knowledge accumulated from previous similar projects. Which of the following statements about risk identification checklists is wrong?

   A) It is impossible to build an exhaustive checklist.
   B) The lowest level of the Risk Breakdown Structure (RBS) cannot be used as a risk checklist
   C) Quick and simple risk checklists are the least effective ones.
   D) Risk checklists should be reviewed during project closure.
   

4.  Sensitivity analysis helps to determine which risks have the most potential impact on the project. A project manager prepared a display chart of sensitivity analysis for his project. The diagram contained a series of bars with the length of the bars corresponding to the risk impact on the project. The longer the bars, the greater was the risk presented. Such a diagram is likely to be:

   A) An assessment diagram
   B) A triangular distribution
   C) A tornado diagram
   D) A funnel distribution
   

5.   As part of a strategy to handle negative risk, a project manager decided to adopt less complex processes, conduct more tests and choose a more stable supplier. What strategy would this be classified as?

   A) Acceptance
   B) Transference
   C) Mitigation
   D) Avoidance