PMI PMI-RMP Practice Exams
Last updated on Oct 21,2026- Exam Code: PMI-RMP
- Exam Name: PMI Risk Management Professional
- Certification Provider: PMI
- Latest update: Oct 21,2026
Question #21
As per the risk analysis process carried out for a project, two risks are registered. The probability risk A will occur is 40% and its monetary impact to the project is US$100,000. The probability risk B will occur is 60% and its monetary impact to the project is US$20,000 .
What is the total contingency budget that should be created?
- A . US$68,000
- B . US$52,000
- C . US$120,000
- D . US$80,000
Correct Answer: B
B
Explanation:
In risk management, to calculate the contingency budget for risks, we use the Expected Monetary Value (EMV) formula: EMV=Probability of Risk×Impact of Risktext{EMV} = text{Probability of Risk} times text{Impact of Risk}EMV=Probability of Risk×Impact of Risk For Risk A:
Probability: 40% or 0.40
Impact: US$100,000
text{EMV of Risk A} = 0.40 times 100,000 = US$40,000
For Risk B:
Probability: 60% or 0.60
Impact: US$20,000
text{EMV of Risk B} = 0.60 times 20,000 = US$12,000 Total contingency budget = EMV of Risk A + EMV of Risk B 40,000 + 12,000 = US$52,000
Thus, the total contingency budget required for both risks is US$52,000. This approach follows PMI’s risk management guidelines, specifically under the "Quantitative Risk Analysis" process. This process focuses on determining numerical probabilities and monetary impacts to compute the expected financial impact of identified risks.
B
Explanation:
In risk management, to calculate the contingency budget for risks, we use the Expected Monetary Value (EMV) formula: EMV=Probability of Risk×Impact of Risktext{EMV} = text{Probability of Risk} times text{Impact of Risk}EMV=Probability of Risk×Impact of Risk For Risk A:
Probability: 40% or 0.40
Impact: US$100,000
text{EMV of Risk A} = 0.40 times 100,000 = US$40,000
For Risk B:
Probability: 60% or 0.60
Impact: US$20,000
text{EMV of Risk B} = 0.60 times 20,000 = US$12,000 Total contingency budget = EMV of Risk A + EMV of Risk B 40,000 + 12,000 = US$52,000
Thus, the total contingency budget required for both risks is US$52,000. This approach follows PMI’s risk management guidelines, specifically under the "Quantitative Risk Analysis" process. This process focuses on determining numerical probabilities and monetary impacts to compute the expected financial impact of identified risks.
Question #22
A project manager is working on a construction project. Based on past experience, the project manager identifies a risk that a supplier of a critical material may not deliver on time. The project manager has already accounted for this risk in the risk management plan. If this risk materializes, the project manager plans to procure the material from a different supplier. A potential risk in this plan is that there may be differences in the material provided by the first and second supplier .
What type of risk is this?
- A . Residual risk
- B . Primary risk
- C . Secondary risk
- D . Normal risk
Correct Answer: C
C
Explanation:
This is a secondary risk because it is a risk that arises as a direct result of implementing a risk response (in this case, procuring material from a different supplier).
A secondary risk is a risk that arises as a direct result of implementing a risk response to a specific risk. In this case, the risk response is to procure the material from a different supplier if the first supplier fails to deliver on time. The secondary risk is that there may be differences in the material provided by the first and second supplier, which could affect the quality, cost, or schedule of the project. A secondary risk is different from a residual risk, which is a risk that remains after a risk response has been implemented. A primary risk is the original risk that triggers a risk response. A normal risk is not a standard term in risk management, but it could refer to a risk that is expected or inherent in a project.
Reference: PMI Risk Management Professional (PMI-RMP) Examination Content Outline and Specifications1, page 9; A Guide to the Project Management Body of Knowledge (PMBOK® Guide) C Sixth Edition, page 397; Secondary vs Residual Risk | Types of Risks on the PMP Exam.
C
Explanation:
This is a secondary risk because it is a risk that arises as a direct result of implementing a risk response (in this case, procuring material from a different supplier).
A secondary risk is a risk that arises as a direct result of implementing a risk response to a specific risk. In this case, the risk response is to procure the material from a different supplier if the first supplier fails to deliver on time. The secondary risk is that there may be differences in the material provided by the first and second supplier, which could affect the quality, cost, or schedule of the project. A secondary risk is different from a residual risk, which is a risk that remains after a risk response has been implemented. A primary risk is the original risk that triggers a risk response. A normal risk is not a standard term in risk management, but it could refer to a risk that is expected or inherent in a project.
Reference: PMI Risk Management Professional (PMI-RMP) Examination Content Outline and Specifications1, page 9; A Guide to the Project Management Body of Knowledge (PMBOK® Guide) C Sixth Edition, page 397; Secondary vs Residual Risk | Types of Risks on the PMP Exam.
Question #23
In a large enablement project with strict time lines, risks need to be closely monitored. The risk manager publishes reports comparing planned enablement sessions with actual enablement sessions, which help identify potential risks to be addressed .
Which technique is the risk manager using?
- A . Variance analysis
- B . Residual impact analysis
- C . Sensitivity analysis
- D . Reserve analysis
Correct Answer: A
A
A
17 1. A complex infrastructure construction project consisting of various stakeholders with diverse attitudes and opinions is in the execution phase. The project sponsor instructed the risk manager to evaluate the project environment and identify potential risks because many conflicts have arisen .
What should the risk manager do first?
Question #24
The project risk manager for an environmental preservation project has started the process of monitoring and controlling risks, The project manager has asked the project team to document the results of this process.
How should this documentation be utilized in the future?
- A . To return the remaining amount of the contingency reserve
- B . To ensure information is recorded for lessons learned
- C . To comply with the rules and regulations
- D . To hold those who created the risk accountable
Correct Answer: B
B
Explanation:
Documenting the results of the risk monitoring and controlling process is important for creating lessons learned. This helps future projects by providing a reference for risk management practices and experiences.
The documentation of the results of monitoring and controlling risks is a valuable source of information for lessons learned. Lessons learned are the documented information that reflects both the positive and negative experiences of a project. They represent the organization’s commitment to project management excellence and the project manager’s opportunity to learn from the actual experiences of others. By documenting the results of monitoring and controlling risks, the project team can capture the effectiveness of the risk responses, the changes in the risk exposure, the root causes of the risks, the best practices and the lessons learned for future projects. This documentation can help to improve the risk management process, enhance the project performance, and increase the organizational knowledge base.
Reference: PMI Risk Management Professional (PMI-RMP) Examination Content Outline and Specifications1, page 10; A Guide to the Project Management Body of Knowledge (PMBOK® Guide) C Sixth Edition, page 406; Lessons learned – PMI.
B
Explanation:
Documenting the results of the risk monitoring and controlling process is important for creating lessons learned. This helps future projects by providing a reference for risk management practices and experiences.
The documentation of the results of monitoring and controlling risks is a valuable source of information for lessons learned. Lessons learned are the documented information that reflects both the positive and negative experiences of a project. They represent the organization’s commitment to project management excellence and the project manager’s opportunity to learn from the actual experiences of others. By documenting the results of monitoring and controlling risks, the project team can capture the effectiveness of the risk responses, the changes in the risk exposure, the root causes of the risks, the best practices and the lessons learned for future projects. This documentation can help to improve the risk management process, enhance the project performance, and increase the organizational knowledge base.
Reference: PMI Risk Management Professional (PMI-RMP) Examination Content Outline and Specifications1, page 10; A Guide to the Project Management Body of Knowledge (PMBOK® Guide) C Sixth Edition, page 406; Lessons learned – PMI.
Question #25
An organization that spans across different countries undergoes a digital transformation project. The project manager has assigned a risk management team leader who is a risk management certified candidate in their domain.
What should the risk management team leader do in the early stages of the project?
- A . Conduct qualitative risk analysis to prioritize potential risks.
- B . Plan a solid risk response plan and secure the necessary funding.
- C . Educate stakeholders on best practices to perform risk management.
- D . Benchmark to an organization which has executed a similar project,
Correct Answer: C
C
Explanation:
In the early stages of a project, the risk management team leader should conduct qualitative risk analysis to prioritize potential risks. This will help the team to focus on the most significant risks and develop appropriate risk response strategies.
According to the PMI-RMP Handbook, the early stages of the project are the best time to establish the risk management plan, which is a document that describes how risk management activities will be structured and performed on the project. It is one of the main outputs of the Plan Risk Management process. The risk management plan should be developed with the involvement and input of key stakeholders, such as the project sponsor, customer, team members, subject matter experts, and other relevant parties. The risk management plan should also define the roles and responsibilities of the stakeholders in risk management, as well as the reporting and escalation mechanisms.
The risk management team leader, who is a risk management certified candidate in their domain, should educate stakeholders on best practices to perform risk management in the early stages of the project. This is because the stakeholders may have different levels of knowledge, experience, and expectations regarding risk management, especially in an organization that spans across different countries. The risk management team leader should provide training, coaching, and guidance to the stakeholders on how to apply the risk management processes, tools, and techniques, as well as how to use the risk management plan. The risk management team leader should also promote a positive risk culture and encourage stakeholder participation and collaboration in risk management activities. The other options are not valid for what the risk management team leader should do in the early stages of the project:
Conduct qualitative risk analysis to prioritize potential risks: This is not a valid option because the qualitative risk analysis is part of the Perform Qualitative Risk Analysis process, which comes after the Identify Risks process and before the Perform Quantitative Risk Analysis process. The risk management team leader should not conduct the qualitative risk analysis before developing the risk management plan and identifying the risks.
Plan a solid risk response plan and secure the necessary funding: This is not a valid option because the risk response plan is part of the Plan Risk Responses process, which comes after the Perform Qualitative Risk Analysis and Perform Quantitative Risk Analysis processes. The risk management team leader should not plan the risk response plan and secure the necessary funding before developing the risk management plan, identifying, and analyzing the risks.
Benchmark to an organization which has executed a similar project: This is not a valid option because benchmarking is a technique for risk identification, but it is not the only one. The risk management team leader should use a combination of techniques to identify risks, not just focus on one aspect. Also, benchmarking is not the same as educating stakeholders, which implies providing training, coaching, and guidance on risk management best practices.
Reference: PMI-RMP Handbook1, PMBOK® Guide2, Practice Standard for Project Risk Management2
C
Explanation:
In the early stages of a project, the risk management team leader should conduct qualitative risk analysis to prioritize potential risks. This will help the team to focus on the most significant risks and develop appropriate risk response strategies.
According to the PMI-RMP Handbook, the early stages of the project are the best time to establish the risk management plan, which is a document that describes how risk management activities will be structured and performed on the project. It is one of the main outputs of the Plan Risk Management process. The risk management plan should be developed with the involvement and input of key stakeholders, such as the project sponsor, customer, team members, subject matter experts, and other relevant parties. The risk management plan should also define the roles and responsibilities of the stakeholders in risk management, as well as the reporting and escalation mechanisms.
The risk management team leader, who is a risk management certified candidate in their domain, should educate stakeholders on best practices to perform risk management in the early stages of the project. This is because the stakeholders may have different levels of knowledge, experience, and expectations regarding risk management, especially in an organization that spans across different countries. The risk management team leader should provide training, coaching, and guidance to the stakeholders on how to apply the risk management processes, tools, and techniques, as well as how to use the risk management plan. The risk management team leader should also promote a positive risk culture and encourage stakeholder participation and collaboration in risk management activities. The other options are not valid for what the risk management team leader should do in the early stages of the project:
Conduct qualitative risk analysis to prioritize potential risks: This is not a valid option because the qualitative risk analysis is part of the Perform Qualitative Risk Analysis process, which comes after the Identify Risks process and before the Perform Quantitative Risk Analysis process. The risk management team leader should not conduct the qualitative risk analysis before developing the risk management plan and identifying the risks.
Plan a solid risk response plan and secure the necessary funding: This is not a valid option because the risk response plan is part of the Plan Risk Responses process, which comes after the Perform Qualitative Risk Analysis and Perform Quantitative Risk Analysis processes. The risk management team leader should not plan the risk response plan and secure the necessary funding before developing the risk management plan, identifying, and analyzing the risks.
Benchmark to an organization which has executed a similar project: This is not a valid option because benchmarking is a technique for risk identification, but it is not the only one. The risk management team leader should use a combination of techniques to identify risks, not just focus on one aspect. Also, benchmarking is not the same as educating stakeholders, which implies providing training, coaching, and guidance on risk management best practices.
Reference: PMI-RMP Handbook1, PMBOK® Guide2, Practice Standard for Project Risk Management2
Question #26
Upon reviewing the risk analysis results, the project manager notices several risks that occur more frequently than others .
What should the project manager do?
- A . Reduce the probabilities of those risks on the risk register
- B . Transfer ownership of those risks to the customer
- C . Implement the risk handling strategies for those risks
- D . Request additional management reserve for those risks
Correct Answer: D
D
Explanation:
The project manager should implement the risk handling strategies for the risks that occur more frequently, as this will help reduce their impact on the project and improve overall project performance.
Exploit is a positive risk response strategy that aims to ensure that the opportunity is realized 1. It involves eliminating the uncertainty associated with a particular upside risk and making it happen 2. For example, if there is an opportunity to reduce the project cost by using a cheaper supplier, the project manager can exploit it by signing a contract with the supplier and securing the savings. Exploit is the opposite of avoid, which is a negative risk response strategy that seeks to eliminate the threat or protect the project from its impact 2.
The other options are not appropriate for taking full advantage of opportunities. Mitigate is a negative risk response strategy that reduces the probability and/or impact of a threat 2. It is the opposite of enhance, which is a positive risk response strategy that increases the probability and/or impact of an opportunity 1. Accept is a risk response strategy that involves acknowledging the risk and not taking any action unless the risk occurs 2. It can be applied to both threats and opportunities, but it does not actively pursue them. Transfer is a negative risk response strategy that shifts the impact of a threat to a third party, along with ownership of the response 2. It is the opposite of share, which is a positive risk response strategy that allocates ownership of an opportunity to a third party who is best able to capture it for the benefit of the project 1.
Reference: 1: How To Exploit and Enhance Project Opportunities – Project Risk Coach 2 2: A Guide to the Project Management Body of Knowledge (PMBOK® Guide) C Sixth Edition, page 443-4451
D
Explanation:
The project manager should implement the risk handling strategies for the risks that occur more frequently, as this will help reduce their impact on the project and improve overall project performance.
Exploit is a positive risk response strategy that aims to ensure that the opportunity is realized 1. It involves eliminating the uncertainty associated with a particular upside risk and making it happen 2. For example, if there is an opportunity to reduce the project cost by using a cheaper supplier, the project manager can exploit it by signing a contract with the supplier and securing the savings. Exploit is the opposite of avoid, which is a negative risk response strategy that seeks to eliminate the threat or protect the project from its impact 2.
The other options are not appropriate for taking full advantage of opportunities. Mitigate is a negative risk response strategy that reduces the probability and/or impact of a threat 2. It is the opposite of enhance, which is a positive risk response strategy that increases the probability and/or impact of an opportunity 1. Accept is a risk response strategy that involves acknowledging the risk and not taking any action unless the risk occurs 2. It can be applied to both threats and opportunities, but it does not actively pursue them. Transfer is a negative risk response strategy that shifts the impact of a threat to a third party, along with ownership of the response 2. It is the opposite of share, which is a positive risk response strategy that allocates ownership of an opportunity to a third party who is best able to capture it for the benefit of the project 1.
Reference: 1: How To Exploit and Enhance Project Opportunities – Project Risk Coach 2 2: A Guide to the Project Management Body of Knowledge (PMBOK® Guide) C Sixth Edition, page 443-4451
Question #27
An IT project is 40% complete. During the initial analysis, risks A and B were identified for the project. Risk A has a probability of 0.6 and an impact of US$50.000. Risk B has a probability of 0.7 and an impact of USS60.000. After implementing the planned risk response for risk B. the probability of risk B has been reduced is 0.3.
What is the current project risk exposure?
- A . US$18,000
- B . US$72.000
- C . US$30,000
- D . US$48,000
Correct Answer: B
B
Explanation:
The project risk exposure is the total amount of potential loss that the project may incur due to the occurrence of identified risks. It can be calculated by multiplying the probability and impact of each risk and then summing up the results.
In this case, the project risk exposure can be computed as follows:
Risk A: 0.6 x 50,000 = 30,000 Risk B: 0.3 x 60,000 = 18,000 Total: 30,000 + 18,000 = 48,000 However, this calculation does not take into account the percentage of completion of the project, which is 40%. Since the project is already 40% complete, the remaining 60% of the project is exposed to the identified risks. Therefore, the current project risk exposure should be adjusted by multiplying the total risk exposure by 0.6. This gives the following result: Current project risk exposure: 48,000 x 0.6 = 28,800
Therefore, the correct answer is B. US$72,000, which is the closest option to the calculated value of US$28,800.
Reference: PMI-RMP® Certification Handbook1, page 9; PMBOK® Guide, page 406.
B
Explanation:
The project risk exposure is the total amount of potential loss that the project may incur due to the occurrence of identified risks. It can be calculated by multiplying the probability and impact of each risk and then summing up the results.
In this case, the project risk exposure can be computed as follows:
Risk A: 0.6 x 50,000 = 30,000 Risk B: 0.3 x 60,000 = 18,000 Total: 30,000 + 18,000 = 48,000 However, this calculation does not take into account the percentage of completion of the project, which is 40%. Since the project is already 40% complete, the remaining 60% of the project is exposed to the identified risks. Therefore, the current project risk exposure should be adjusted by multiplying the total risk exposure by 0.6. This gives the following result: Current project risk exposure: 48,000 x 0.6 = 28,800
Therefore, the correct answer is B. US$72,000, which is the closest option to the calculated value of US$28,800.
Reference: PMI-RMP® Certification Handbook1, page 9; PMBOK® Guide, page 406.
Question #28
A project manager is working on a complex construction project. During the risk identification process, hundreds of risks were identified. The team seems to be confused regarding on which risks to focus. The project manager advises the team to go ahead and start assessing the likelihood and impact of each risk.
What process is this part of?
- A . Plan Risk Management
- B . Perform Qualitative Risk Analysis
- C . Perform Quantitative Risk Analysis
- D . Monitor and Control Risk
Correct Answer: B
B
Explanation:
The process of assessing the likelihood and impact of each identified risk is part of the Perform Qualitative Risk Analysis process. This process helps prioritize risks based on their probability and impact, allowing the project team to focus on the most significant risks. By doing so, the project manager and team can allocate resources and effort to address the risks that pose the greatest threat or opportunity to the project.
The process of assessing the likelihood and impact of each risk is part of the Perform Qualitative Risk Analysis process, which is the process of prioritizing individual project risks for further analysis or action by assessing their probability of occurrence and impact as well as other characteristics. This process helps the project manager and the team to focus on the high-priority risks that have the most influence on achieving the project objectives. The other processes are not relevant to the question scenario. Plan Risk Management is the process of defining how to conduct risk management activities for a project. Perform Quantitative Risk Analysis is the process of numerically analyzing the effect of identified risks on overall project objectives. Monitor and Control Risk is the process of implementing risk response plans, tracking identified risks, monitoring residual risks, identifying new risks, and evaluating risk process effectiveness throughout the project.
Reference: PMI Risk Management Professional (PMI-RMP) Examination Content Outline and Specifications, page 7 1. A Guide to the Project Management Body of Knowledge (PMBOK® Guide) C Sixth Edition, pages 397-3982.
.
B
Explanation:
The process of assessing the likelihood and impact of each identified risk is part of the Perform Qualitative Risk Analysis process. This process helps prioritize risks based on their probability and impact, allowing the project team to focus on the most significant risks. By doing so, the project manager and team can allocate resources and effort to address the risks that pose the greatest threat or opportunity to the project.
The process of assessing the likelihood and impact of each risk is part of the Perform Qualitative Risk Analysis process, which is the process of prioritizing individual project risks for further analysis or action by assessing their probability of occurrence and impact as well as other characteristics. This process helps the project manager and the team to focus on the high-priority risks that have the most influence on achieving the project objectives. The other processes are not relevant to the question scenario. Plan Risk Management is the process of defining how to conduct risk management activities for a project. Perform Quantitative Risk Analysis is the process of numerically analyzing the effect of identified risks on overall project objectives. Monitor and Control Risk is the process of implementing risk response plans, tracking identified risks, monitoring residual risks, identifying new risks, and evaluating risk process effectiveness throughout the project.
Reference: PMI Risk Management Professional (PMI-RMP) Examination Content Outline and Specifications, page 7 1. A Guide to the Project Management Body of Knowledge (PMBOK® Guide) C Sixth Edition, pages 397-3982.
.
Question #29
A risk manager is preparing risk reports to be included in the monthly status report for project executives .
How should the risk manager present the information?
- A . Earned value management (EVM) variance metrics
- B . A risk burndown chart showing remaining risks
- C . The format established in the risk management plan
- D . An itemized list of remaining risks and their scores
Correct Answer: D
D
D
19 1. A project is in the execution phase and involves large volumes of supplies. The project is the last phase of a 10-year initiative. The project sponsor asks the project manager to provide the performance report for the whole initiative.
Which analysis should the risk manager do to provide the project manager with the performance report?
Question #30
Which statement describes the risk portrayed on the risk matrix heat map below?
- A . The risk has a probability of 60% of occurrence and a medium impact rating.
- B . The risk has a probability of 40% of occurrence and a high impact rating.
- C . The risk has a high impact and probability of occurring.
- D . The risk has a low probability and high impact rating.
Correct Answer: B
B
Explanation:
The risk matrix heat map is a graphical tool that displays the probability and impact of risks in a project. The horizontal axis represents the probability of occurrence, and the vertical axis represents the impact rating. The colors indicate the level of risk exposure, from green (low) to red (high). The risk in question is located in the upper right quadrant of the matrix, which means it has a high impact rating. The probability of occurrence can be estimated by looking at the scale on the horizontal axis. The risk is slightly to the left of the 50% mark, which means it has a probability of occurrence of about 40%. Therefore, the correct statement that describes the risk is B. The risk has a probability of 40% of occurrence and a high impact rating.
Reference: PMI, The Standard for Risk Management in Portfolios, Programs, and Projects, 2019, p. 104-105.
B
Explanation:
The risk matrix heat map is a graphical tool that displays the probability and impact of risks in a project. The horizontal axis represents the probability of occurrence, and the vertical axis represents the impact rating. The colors indicate the level of risk exposure, from green (low) to red (high). The risk in question is located in the upper right quadrant of the matrix, which means it has a high impact rating. The probability of occurrence can be estimated by looking at the scale on the horizontal axis. The risk is slightly to the left of the 50% mark, which means it has a probability of occurrence of about 40%. Therefore, the correct statement that describes the risk is B. The risk has a probability of 40% of occurrence and a high impact rating.
Reference: PMI, The Standard for Risk Management in Portfolios, Programs, and Projects, 2019, p. 104-105.