M_o_R® Foundation Exam Simulator, Do you need to earn your M_o_R® Foundation certification? If so, you’ve come to the right place!
M_o_R® Foundation Exam Simulator
About these mock exams:
A bank of 300 questions
Containing helpful explanations for each question
Fully compatible with the latest version of M_o_R
Developed by Project Management Expert Eng. Abayzeed Elsmani
300 Questions!
This package contains 300 root questions, Therefore, when you take the exam multiple times, you will always see slightly different questions, and will be forced to pay attention to the details, which is very useful for your real exam.
Syllabus
The M_o_R exam questions have the following main categories:
Introduction & Glossary
Principles
Approach
Process
Embedding & Review
Perspectives
Common Techniques
Risk Specialisms
Each area has a certain number of questions in the exam. The exam simulator uses the same categories, and the same number of questions in each category. At the end of each simulated exam, you will receive a breakdown of your score in each area, so that you can know which areas are causing you trouble and learn more about them.
According to AXELOS, the following is the detailed syllabus for the exam:
Introduction & Glossary
Know facts, terms and concepts relating to M_o_R. Specifically to recall definitions of:
Risk management terms used in the M_o_R framework:
Risk
Issue
Threat
Opportunity
Corporate governance terms used in the M_o_R framework:
Risk exposure
Risk management
Corporate governance
Know facts, terms and concepts relating to the M_o_R approach, perspectives and the actions needed for effective risk management implementation. Specifically to recall:
The main elements of the M_o_R framework:
Principles
Approach
Process
Embedding and reviewing
The actions needed for effective risk management (identify, assess, control (plan and implement))
The four perspectives and their relationship with long-term, medium-term and short-term goals
Understand how the M_o_R framework is used. Specifically to identify:
The purpose of each of the elements of the M_o_R framework
How decisions about risk vary depending on whether the organizational objectives are:
Long-term
Medium-term
Short-tem
How risk management supports better decision-making
How effective risk management is likely to improve performance against objectives
How legislation and increased focus on formal risk management influences the drivers for an increased focus on risk management, corporate governance and internal control.
The benefits of risk management
The difference between a risk and an issue
Principles
Know the facts, terms and concepts relating to the M_o_R principles. Specifically to recall:
That the principles are informed by corporate governance principles and ISO31000:2009
Definitions of the terms describing the amount of risk an organization is willing to take:
Risk capacity
Risk appetite
Risk tolerance
Definition of terms used to support decision making:
Key performance indicator (KPI)
Early warning indicator (EWI)
The eight M_o_R principles:
The seven principles that enable risk management
The principle that results from implementing risk management well
Understand how the M_o_R principles are used and the main mechanisms (e.g., appetite, capacity, tolerance, EWI, KPI, etc.) that support them. Specifically to identify:
The purpose of each of the eight M_o_R principles:
Aligns with objectives
Fits the context
Engages stakeholders
Provides clear guidance
Informs decision-making
Facilitates continual improvement
Creates a supportive culture
Achieves measurable value.
The outcome from satisfying each of the principles
Aligns with objectives
Fits the context
Engages stakeholders
Provides clear guidance
Informs decision-making
Facilitates continual improvement
Creates a supportive culture
Achieves measurable value
How the principles support corporate governance and internal control:
Aligns with objectives.
Fits the context
Engages stakeholders
Provides clear guidance
Informs decision-making
Facilitates continual improvement
Creates a supportive culture
Achieves measurable value
The link between risk tolerance and escalation
Approach
Know the facts, terms and concepts relating to the M_o_R approach. Specifically to recall:
The three documents that make up the central approach documents:
Risk management policy
Risk management process guide
Risk management strategy
Understand the contents of the nine M_o_R approach documents, how they relate to the principles and how they are applied throughout the M_o_R framework. Specifically to identify:
The purpose of each of the M_o_R documents
Risk management policy
Risk management process guide
Risk management strategy
Risk Register
Issue Register
Risk improvement plan
Risk communications plan
Risk response plan
Risk progress report
The concepts supporting the contents of the risk management policy:
The amount of risk an organisation can bear
The amount of risk an organisation is willing to accept
Risk tolerance thresholds – the levels of risk exposure which when exceeded will trigger an escalation
Procedures for escalation and delegation between the different perspectives
The concepts supporting the contents of the risk management process guide:
The roles and responsibilities for the process, management structure of risk management, risk management tools and reviews and audits of the process
The tools and techniques used to support the risk management process steps
The templates, their purpose and locations
The concepts supporting the contents of the risk management strategy:
Scales for estimating probability and impact
Risk categories
Risk appetite for the activity
Risk tolerance thresholds for the activity
Reporting lines, owners of contingent plans, duties of the risk manager and primary participants in the risk management process
The components of the risk register:
Risk description
Risk category
Probability
Impact
Proximity
Risk status
Risk response actions
In a risk description, the difference between cause, event and effect
The relationship between the nine M_o_R approach documents
Process
Know the facts, terms and concepts of the M_o_R process. Specifically to recall:
That risk management is an iterative process
Definitions of the terms used in the process steps and sub-steps:
Probability (inherent and residual)
Impact (inherent and residual)
Proximity
The steps in the M_o_R process
The primary steps in the M_o_R process
The sub-steps in the Identify and Assess steps
The sequence of the steps
The common terminology used to describe each step:
Goals
Inputs
Outputs
Techniques
Tasks
The common process barriers to success to implementing the risk management process
Understand how the M_o_R process is used to identify, assess and control risk. Specifically to identify:
The goal of the:
Identify – Context step
Identify – Risks step
Assess – Estimate step
Assess – Evaluate step
Plan step
Implement step
Which of the nine M_o_R framework documents are developed, used or updated in the:
Identify – Context step
Identify – Risks step
Assess – Estimate step
Assess – Evaluate step
Plan step
Implement step
The difference between inherent, secondary and residual risks
The difference and relationship between risk owner and risk actionee
Embedding & Review
Know the facts, terms and concepts relating to Embedding and reviewing of risk management into the culture of an organization. Specifically to recall definitions of terms used in Embedding and reviewing the implementation of risk management:
Risk management health check
Risk management maturity model
Understand the need for integrating risk management into the culture of an organization. Specifically to identify:
The purpose of embedding and reviewing risk management
The purpose of a risk management health check
The purpose of a risk management maturity model
Ways to measure value in implementing risk management
Ways to:
Overcome barriers
Obtain and develop senior management commitment and support
Build and develop a risk-aware organizational culture
Opportunities and trigger points to emphasize support and commitment to risk management and establish a continual cycle of review and improvement.
The similarities and differences between a risk management health check and a risk management maturity model
Perspectives
Know the facts, terms and concepts of the M_o_R perspectives. Specifically to recall definitions of terms used in the perspectives:
Contingency
Enterprise Risk Management (ERM)
Central Risk Function
Understand how the M_o_R perspectives are used. Specifically to identify:
The purpose of each perspective
How the principle ‘aligns with objectives’ is applied and the focus of concern for each perspective:
Strategic
Programme
Project
Operational
How the principle ’fits the context’ is applied and the typical areas of uncertainty for each perspective:
Strategic
Programme
Project
Operational
How the principle ‘engages stakeholders’ is applied and the likely stakeholder groups at each perspective:
Strategic
Programme
Project
Operational
How the principle ‘provides clear guidance’ is applied to each perspective:
Strategic
Programme
Project
Operational
The risk management responsibilities of the senior team
Writes and owns the risk management policy
Defines the overall risk appetite
Reviews the risk management strategy
The risk management responsibilities of the senior manager appointed to represent the senior team:
Ensures appropriate governance and internal controls are in place
Defines and monitors risk tolerances
Ensures adequate resources are available to implement the risk management strategy
The risk management responsibilities of the manager:
Ensures that risk registers, risk reviews and escalation process are in place
Validates risk assessments
The risk management responsibilities of assurance:
Assures the senior team that risk accountabilities exist
Assures compliance with internal controls
Makes formal assessments of management of risk implementation
The risk management responsibilities of the risk specialist:
Carries out ongoing management of risk maturity assessments
Prepares risk management strategies
Develops plans to improve management of risk
Develops management of risk guidance and training
The risk management responsibilities of the team:
Participates in identification, assessment, planning and management of threats and opportunities
Escalates risk as necessary as defined by the risk management policy
Common Techniques
Know the facts, terms and concepts of the M_o_R techniques. Specifically to recall definitions of the terms used in the:
Risk description technique:
Cause
Event
Effect
Risk response planning technique:
Avoid a threat
Exploit an opportunity
Reduce a threat
Enhance an opportunity
Transfer the risk
Share the risk
Accept the risk
Prepare contingent plans
Understand how the M_o_R techniques are used. Specifically to identify:
How the PESTLE analysis, SWOT analysis and horizon scanning techniques are used for understanding the context of an organizational activity
The relationships between a stakeholder analysis, an influence/interest matrix and a RACI diagram and how they are used for understanding stakeholders’ interests
How a probability impact grid and a summary risk profile are used for visualizing the total risk to an activity
How the checklist, prompt list, risk breakdown structure and a cause and effect diagram assist in identifying risks
How the avoid and reduce responses are used to respond to threats
How the exploiting and enhancing responses are used to respond to opportunities
How the ‘transfer the risk’, ‘share the risk’ and ‘accept the risk’ are used to respond to risks
The relationship between ‘prepare contingent plans’ and the ‘reduce the threat’ / ‘enhance the opportunity’ plan responses
How the probability assessment, impact assessment, proximity assessment and expected value assessment techniques are used for risk estimation
Risk Specialisms
Know the facts, terms and concepts of the M_o_R risk specialisms. Specifically to recall:
The types of risk specialisms:
Business continuity management
Incident and crisis management
Health and safety management
Security risk management
Financial risk management
Environmental risk management
Reputational risk management
Contract risk management
That specialisms have developed as organizations have applied particular approaches to managing specific types of risks
Understand how the M_o_R risk specialisms are used. Specifically to identify:
The purpose and scope of each risk management specialism as listed in RS0101
