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1.   The Iterate Risks project involves determining which risks may impact a project. It is considered an iterative process. What is the frequency of iteration?

   A) Every month
   B) Every fortnight
   C) The frequency of iteration will vary based on the situation
   D) Every week
   

2.  A number of identified risks occurred early in a project. As a result, most of the project objectives ended up in jeopardy. The project manager decided to present a case to management that the project be closed down. This is an example of:

   A) Risk Acceptance
   B) Risk Mitigation
   C) Risk Avoidance
   D) Risk Transfer
   

3.  The Risk Management plan will usually contain the definitions of risk probability and impact. Which of the following has the highest impact (negative) on a project?

   A) A rating of 1.1 on the impact scale
   B) A rating of 0.8 on the impact scale
   C) A rating of 0 on the impact scale
   D) A rating of 0.1 on the impact scale
   

4.  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.
   

5.  A project manager included contingency reserves and management reserves in the total budget of a high-risk project. He also made certain earned value measurement calculations. Which of the following is incorrect?

   A) Reserves are included as part of earned value measurement calculations.
   B) Reserves are not part of the project cost baseline.
   C) The project manager needs to get approval before spending management reserve.
   D) Reserves are usually included in the total budget of a project.