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1.  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.
   

2.   Rick has just been assigned as the project manager of a project to develop a complex product. The project is in the Define Scope phase. Which of these tools / techniques will not be used by Rick in this phase?

   A) Lateral thinking
   B) Process analysis
   C) Pair wise comparisons
   D) Value engineering
   

3.  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
   

4.  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.
   

5.   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.