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IntroductionSuggestion:Exam venues and seats are limited per day, so don’tdelay in scheduling your exam.
8What Does the Exam Look Like?You will have 170 multiple choice questions to answer in three hours and a half. A question can be half a line or a small paragraph with four possible answers (only one is correct). Questions will appear on a computer screen one at a time. The top of the screen will have your name, time remaining and the item number of the question you are answering. Two thirds of the screen will be for the question and its possible answers. At the bottom of the screen, you will have navigation buttons to use to go back and forth through the questions. You will also be able to mark questions so you can return to them later. You will have a built-in calculator that you can use (similar to the one on your PC).Why the Exam Is Difficult1. As it is the case with any exam: to pass it, you have to memorize and understand some materials.2. Duration: It is a long exam (three and a half hours) with many questions.3. The exam includes some trick questions.4. For many questions you will be able to eliminate two out of the four multiple choices; but the remaining two choices will be very similar. Take it as a good thing and as a challenge. You want to be distinguished, so you don’t want an exam that just anyone can pass even if he/she is not qualified.Chapter1Question 1/170 Time remaining 3:15 Q: You are the project Manager of xyz project. Your project is being executed, what Risk Process should you use ?a) Risk Identificationb) Risk Qualitative Analysisc) Risk Quantitative Analysisd) Risk Monitoring and ControlCalculatorNext Mark Back
12Chapter 2:EssentialsWhat You Need to Know to Prepare for the ExamRisk management is not an isolated subject. To be a professional risk manager, you need to understand many topics from different areas of knowledge. In this chapter, I collected information that a professional risk manager will use to support his/her job (and thus are potential areas for questions on the exam).MathematicsDuring the exam, you will need to perform simple calculations to answer some questions. Statistical concepts are of particular importance in risk management, but don’t worry, you need to know only the very basic formulas; like the one for calculating averages. Chapter2Remember, there will be a button on the exam screen that enables you to use a calculator similar to the one on your PC. For the calculator, note that:1. The calculator will be available in all questions; but be careful: not all questions with numbers will require you to use it.2. Practice using the calculator especially when dealing with percentages and decimal places.The Risk ModelRisk can be represented mathematically as:Risk = Probability * ImpactThis mathematical representation (model) should give you a better understanding of the concept of risk and an insight on how it works. The above formula states that risk is the outcome of two parameters: probability and impact. Risk will increase or decrease if