Risk Assessment & Management Flashcards

Which risk mitigation strategy involves transferring potential financial loss to a third party, such as an insurance provider?

Answer: Risk transfer

Risk transfer shifts the financial burden of a potential loss to another party, commonly through insurance or contractual agreements.

A testing organization identifies that a newly implemented online proctoring system could expose examinee data. This discovery during planning is best described as:

Answer: Emerging risk

Emerging risk refers to newly identified threats that arise from changes in technology, environment, or operations.

In a risk heat map, a risk plotted in the upper-right quadrant indicates:

Answer: High likelihood and high impact

The upper-right quadrant of a risk heat map represents risks with both high likelihood and high impact, requiring immediate attention.

What is the primary purpose of a Business Impact Analysis (BIA) in test program risk management?

Answer: To determine the consequences of disruptions to critical testing functions

A BIA evaluates how disruptions to key testing operations would impact the organization's ability to deliver assessments.

An exam program experiences repeated item overexposure in a small candidate pool. The BEST risk control is:

Answer: Implement item rotation with a larger item bank

Item rotation using a larger bank reduces the probability that any single item is seen by too many candidates, protecting test validity.

Which document formally records identified risks, their likelihood, impact, owner, and mitigation plan?

Answer: Risk register

A risk register is the central repository that tracks all identified risks and their associated management details.

A certification body decides to continue offering a test despite knowing that its content may be partially outdated. This decision represents:

Answer: Risk acceptance

Risk acceptance means the organization knowingly tolerates a risk, typically because mitigation costs outweigh potential harm.