Risk Assessment Quiz

What is the importance of risk assessment?

• Risk assessment is only relevant for large organizations and not for small businesses.

• Risk assessment is important because it helps identify potential hazards and evaluate the likelihood and severity of those hazards.

• Risk assessment only adds unnecessary complexity to a project.

• Risk assessment is not important and can be skipped.

Name two approaches to risk assessment.

• qualitative risk assessment and quantitative risk assessment

• preliminary risk assessment and final risk assessment

• subjective risk assessment and objective risk assessment

• internal risk assessment and external risk assessment

List two risk assessment techniques.

• subjective risk assessment

• random risk assessment

• irrelevant risk assessment

• qualitative risk assessment, quantitative risk assessment

Explain what a risk matrix is used for.

• A risk matrix is used to create new risks.

• A risk matrix is used to eliminate all risks.

• A risk matrix is used to calculate the probability of risks.

• A risk matrix is used to assess and prioritize risks.

What is risk perception and why is it important in risk assessment?

• Risk perception is the same as risk assessment.

• Risk perception is irrelevant in risk assessment.

• Risk perception is solely based on objective facts and data.

• Risk perception is how individuals perceive and interpret risks in their environment.