CRM Risk Assessment & Mitigation 3

Question 1

Which risk indicator would MOST likely trigger a records manager to conduct an unscheduled risk reassessment?

Accepted Answer

A major merger, acquisition, or organizational restructuring

Answer

Major organizational changes such as mergers or restructuring significantly alter the records risk landscape and warrant an immediate reassessment.

Question 2

A risk heat map is used in records management primarily to:

Accepted Answer

Visually prioritize risks by likelihood and impact

Answer

A risk heat map plots risks on a grid of probability versus impact, enabling managers to visually identify and prioritize the most critical risks.

Question 3

Which of the following is an example of risk transfer in a records management context?

Accepted Answer

Purchasing cyber liability insurance to cover a data breach

Answer

Risk transfer shifts the financial consequences of a risk to a third party, such as an insurer, rather than eliminating the risk itself.

Question 4

A records manager is evaluating the risk of a legacy records system becoming unsupported. This is classified as which type of risk?

Accepted Answer

Technological obsolescence risk

Answer

Technological obsolescence risk occurs when systems or media formats become outdated, threatening the accessibility and integrity of records over time.

Question 5

When a risk assessment reveals a low-probability, low-impact risk, the MOST appropriate response is typically to:

Accepted Answer

Accept the risk and monitor it periodically

Answer

Low-probability, low-impact risks are generally accepted and placed on a watch list for periodic monitoring rather than requiring costly immediate action.

(CRM) Certified Records Management Practice Test

(CRM) Certified Records Management Practice Test

CRM Risk Assessment & Mitigation 3