1 Monte Carlo simulation:
A Was originally developed by Dr. Carlo
B Is a European technique for assessing project risks
C assumes the future risk events will occur at random according to predetermined probability distributions
D is a technique to stimulate create risk event resolution
E A, B and C only
ans:C
2 Which of the following actions is an example of risk response:
A adjust project parameters (scope, time, quality ...)
B reduce the probability of potential project risk events
C reduce the consequences of potential project risk events
D wait until a problem actually happens, then deal with it in the most effective and efficient manner.
E A, B and C only
ans:E
3 Total project risk can be defined as:
A the sum of the probabilities of project risks events times the sum of consequences of those risks
B the sum of the products of each project risk event times its consequences
C the sum of the consequences of all project risk events
D the sum of the probabilities of all project risk events
E 1 - the sum of the probabilities of all project risk events. À´Ô´£º¿¼ÊÔ´ó
ans:B
4 The utility of a risk seeker is:
A negatively exponential
B positively skewed
C increasing
D decreasing
E symmetrical
ans:C
5 Giving a part of project work to a contractor is an example of:
A risk mitigation
B risk assignment
C risk delegation
D risk deflection
E risk assumption
ans:D
6 Risk management methodology should be adhered to in:
A construction projects
B system projects
C complex projects
D large projects
E All of the above.
ans:E
7 Which of the following activities can be considered as part of risk mitigation
A risk identification
B purchasing insurance
C assessment of outcomes
D assessment of probabilities
E C and D only
ans:B
8 Which of the following scheduling methods uses more of the risk management concepts:
A ADM
B PDM
C CPM
D PERT
E Gantt
ans:D
9 Which of the following utility functions reflects risk-aversion:
A uniform
B increasing
C decreasing
D exponential
E B and D only
ans:C
10 To calculate the expected value of an outcome:
A divide the value of each outcome by its probability, then add the results.
B divide the value of the desired outcome by the value all possible outcomes
C multiply the value of each outcome by its probability, then add the results
D use linear regression to assess the expected value of the outcome
E B and D only À´Ô´£º¿¼ÊÔ´ó
ans:C
11 Which of the following is most closely associated with pure risk:
A profit and loss
B personnel turnover
C insurance
D market fluctuations
E A and D only
ans:C
12 Which of the following is most closely associated with business risk:
A profit and loss
B personnel turnover
C workmen's compensation
D liability insurance
E All of the above.
ans:A

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