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iSQI CTFL_Syll2018 Exam - Topic 1 Question 98 Discussion

Which of the following BEST defines risk level?
B) Risk level Is determined by the likelihood of an event happening and the impact or harm from that event
A) Risk level Is calculated by adding the probabilities of all planned risks to a project
C) Risk level Is calculated by dividing the sum of all known risks by the sum of all unknown risks
D) Risk level is determined by calculating the absolute value of the sum of all potential issues that may occur on the project

iSQI CTFL_Syll2018 Exam - Topic 1 Question 98 Discussion

Actual exam question for iSQI's CTFL_Syll2018 exam
Question #: 98
Topic #: 1
[All CTFL_Syll2018 Questions]

Which of the following BEST defines risk level?

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Suggested Answer: B

The correct answer is B, as it defines risk level correctly.Risk level is determined by the likelihood of an event happening and the impact or harm from that event4.Likelihood is the probability or frequency of the event occurring4.Impact is the severity or consequence of the event occurring4.Risk level can be calculated by multiplying likelihood and impact, or by using a risk matrix that assigns risk levels based on different combinations of likelihood and impact4. Option A is incorrect, as it does not define risk level correctly.Risk level is not calculated by adding the probabilities of all planned risks to a project, but by assessing the likelihood and impact of each individual risk4. Option C is incorrect, as it does not define risk level correctly.Risk level is not calculated by dividing the sum of all known risks by the sum of all unknown risks, but by assessing the likelihood and impact of each individual risk4. Option D is incorrect, as it does not define risk level correctly.Risk level is not determined by calculating the absolute value of the sum of all potential issues that may occur on the project, but by assessing the likelihood and impact of each individual risk4. Reference:4, Section 2.8


by Jesusa at Sep 19, 2024, 05:13 PM

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Kirk
8 months ago
D seems off. Absolute value? That’s not how we assess risks!
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Wilbert
8 months ago
A is just adding probabilities, not really defining risk level.
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Edna
8 months ago
Wait, how can you measure unknown risks? Sounds tricky!
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Shawn
8 months ago
Totally agree with B! It's all about likelihood and impact.
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Estrella
8 months ago
I think B is the right choice. It makes the most sense.
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Melita
9 months ago
I feel like option A is too simplistic. Risk level should definitely involve more than just adding probabilities together.
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Coral
9 months ago
I’m a bit confused about the calculations involved. I thought risk level was more about assessing known risks rather than dividing them by unknowns.
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Valentin
9 months ago
I remember practicing a question similar to this, and I think option B sounds right because it mentions both likelihood and impact.
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Cristina
9 months ago
I think risk level has something to do with both likelihood and impact, but I'm not entirely sure if that's the best definition.
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Reuben
9 months ago
This is a good test of my risk management knowledge. I'll methodically analyze each option and eliminate the ones that don't accurately define risk level.
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Yvette
9 months ago
I'm a little confused by the wording of these options. Let me re-read them carefully and see if I can identify the key differences between them.
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Joni
9 months ago
Okay, I've got this. Risk level is all about evaluating the probability of a risk occurring and the potential consequences. Option B seems to capture that the best.
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Natalie
9 months ago
Hmm, I'm a bit unsure about this one. The options seem similar, but I'll try to break down the differences and think through which one best captures the definition of risk level.
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Gearldine
9 months ago
This looks like a straightforward risk management question. I'll focus on understanding the key concepts of likelihood and impact that define risk level.
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Bernardine
10 months ago
Alright, I think I've got a strategy here. I'll start by looking at the exhibit and the answer choices, and try to identify any clues about the structure or characteristics of the dataset. Then I'll use that information to narrow down the most likely explanation.
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Cordelia
2 years ago
Hey, I heard the project manager is rolling a dice to determine the risk level. Double sixes means we're all doomed!
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Arlyne
2 years ago
A) Risk level Is calculated by adding the probabilities of all planned risks to a project
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Herminia
2 years ago
That's not how risk level is determined. It's based on the likelihood of an event and its impact.
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Micaela
2 years ago
B) Risk level Is determined by the likelihood of an event happening and the impact or harm from that event
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Pete
2 years ago
B is the way to go. If you don't know the likelihood and impact, how can you even call it a risk? I think the other options are just trying to sound fancy.
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Gianna
2 years ago
Hmm, I'm torn between B and C. Maybe I should ask the project manager to roll some dice and pick the answer randomly. That's how they usually make decisions anyway.
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Louis
2 years ago
Maybe you should consult with the project manager to get a clearer understanding of how risk level is determined.
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Anna
2 years ago
I disagree, I believe C is the correct answer. Dividing known risks by unknown risks seems like a more accurate way to calculate risk level.
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Loren
2 years ago
I think B is the best option. It makes sense to consider both the likelihood and impact of an event when determining risk level.
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Bambi
2 years ago
I'm not sure, but I think A) could also be a possibility. Adding probabilities of planned risks seems logical too.
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Reita
2 years ago
I agree with Cruz, B) makes the most sense. It's about the probability and impact of risks.
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Cruz
2 years ago
I think the answer is B) Risk level Is determined by the likelihood of an event happening and the impact or harm from that event.
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Billi
2 years ago
D seems a bit too abstract, don't you think? I'm going with B - it's the most straightforward and practical definition of risk level.
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Pauline
2 years ago
I think B is the correct answer. Risk level is all about the likelihood and impact of an event, not just adding up probabilities or some complicated formula.
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Dorothy
2 years ago
Definitely, B is the right answer. It's all about the likelihood of an event and the potential harm it could cause.
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Hyun
2 years ago
Yeah, B seems to be the most logical choice. It's all about the probability and impact of an event.
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Arlette
2 years ago
I think B makes the most sense too. It's about how likely something is to happen and how much harm it could cause.
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Pauline
2 years ago
I agree, B is the best answer. It's all about the likelihood and impact of an event.
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