Risk Control & Mitigation Strategies Flashcards
7 cards from real RIMS practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Risk Control & Mitigation Strategies flashcards as text
In risk control, 'engineering controls' are considered more reliable than 'administrative controls' because:
Answer: They do not depend on human behavior to be effective
Engineering controls (e.g., machine guards) function automatically without relying on workers following procedures, making them inherently more reliable.
The hierarchy of controls ranks which option as the most effective way to eliminate a hazard?
Answer: Elimination
Elimination—physically removing the hazard—is ranked highest in the hierarchy because it permanently removes the risk source.
Which concept describes the idea that small failures and near-misses indicate systemic weaknesses that can lead to catastrophic events?
Answer: Swiss Cheese Model
James Reason's Swiss Cheese Model shows that accidents occur when holes in multiple defensive layers align, each hole representing a latent failure.
A risk manager implements a policy requiring dual authorization for large financial transactions. This is best classified as:
Answer: An administrative control
Dual-authorization policies are administrative controls—procedural rules that govern human behavior to reduce the risk of errors or fraud.
Which metric is most useful for measuring the effectiveness of a loss prevention program over time?
Answer: Incurred loss trend analysis
Tracking incurred loss trends over time reveals whether prevention efforts are actually reducing the frequency and severity of losses.
A retailer places security mirrors in store corners to deter shoplifting. This is an example of which loss control technique?
Answer: Deterrence (loss prevention)
Deterrence measures discourage harmful acts before they occur, making mirrors a loss prevention (pre-loss) tool targeting frequency.
When a risk manager uses a fault tree analysis (FTA), the primary goal is to:
Answer: Identify the combinations of events that could lead to a specific undesired outcome
FTA is a top-down, deductive failure analysis that maps out the logical combinations of failures or events that could cause a defined top-level event.