CPHRM Risk Analysis 2

Question 1

Which quantitative technique assigns probability distributions to uncertain variables to model the range of possible outcomes in a risk assessment?

Accepted Answer

Monte Carlo simulation

Answer

Monte Carlo simulation runs thousands of iterations with randomly sampled inputs to produce a probability distribution of outcomes.

Question 2

A hospital's risk manager is evaluating a clinical process with multiple sequential steps, each with its own failure probability. Which method is BEST suited to calculate the probability that the entire process fails?

Accepted Answer

Fault tree analysis

Answer

Fault tree analysis uses Boolean logic gates to model how combinations of individual failures lead to a top-level undesired event.

Question 3

In risk analysis, 'residual risk' refers to:

Accepted Answer

Risk remaining after controls are applied

Answer

Residual risk is the level of risk that remains after all implemented risk controls have been applied and accepted.

Question 4

Which of the following BEST describes the purpose of a risk register in healthcare risk management?

Accepted Answer

To centralize identified risks, their ratings, and assigned owners

Answer

A risk register is a living document that catalogues identified risks, their likelihood and impact scores, mitigation actions, and accountability assignments.

Question 5

When analyzing risk severity, which dimension is PRIMARILY concerned with how quickly a hazardous situation can cause harm if not detected?

Accepted Answer

Detectability

Answer

Detectability measures how easily a failure or hazard can be identified before it causes harm, influencing the urgency of controls.

CPHRM Exam Practice Test

CPHRM Exam Practice Test

CPHRM Risk Analysis 2