CPL Risk Management & Compliance Flashcards
6 cards from real CPL practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 CPL Risk Management & Compliance flashcards as text
When a program manager implements a workaround, it is a response to:
Answer: An issue that was not anticipated and has no prior contingency plan
A workaround is an unplanned response to an issue or risk event that occurs without a prepared contingency, requiring an immediate improvised solution.
In the context of program compliance, which of the following BEST describes due diligence?
Answer: A thorough investigation and verification process to ensure regulatory and policy adherence
Due diligence is a comprehensive review process that verifies a program meets all applicable legal, regulatory, and organizational compliance requirements.
A risk that is identified as having high probability but low impact should MOST likely be handled by:
Answer: Accepting the risk with active monitoring
High-probability, low-impact risks are typically accepted with active monitoring, as the cost of avoidance or transfer often outweighs the relatively minor impact.
Which qualitative risk analysis tool uses expert opinion gathered through multiple anonymous rounds to build consensus on risk rankings?
Answer: Delphi technique
The Delphi technique gathers anonymous expert input over multiple rounds, using feedback between rounds to converge on a consensus risk assessment.
A secondary risk in program management is BEST defined as:
Answer: A new risk created directly by implementing a risk response
Secondary risks arise as a direct consequence of a risk response action, meaning the solution to one risk introduces a new risk that must also be managed.
Which program governance mechanism is responsible for reviewing and approving risk responses that exceed the program manager's authority or risk threshold?
Answer: The program governance board
The program governance board provides oversight and approves decisions that exceed the program manager's delegated authority, including high-impact risk responses.