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ARM 401 Vocabulary Exam Questions and Answers
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ARM 401 Vocabulary Exam Questionsand Answers
Risk threshold - -The level of risk exposure above which risks are addressed
and below which risks may be accepted.
-Sensor - -A device that responds to a physical stimulus (as heat, light,
sound, pressure, magnetism, or a particular motion) and transmits a
resulting impulse (as for measurement or operating a control).
-Radio frequency identification (RFID) - -uses electronic tags and labels to
identify objects wirelessly over short distances
-Artificial intelligence (AI) - -Simulates human intelligence such as the ability
to reason and learn
-Computer vision - -a technology that simulates human vision.
-Risk register - -A document in which the results of risk analysis and risk
response planning are recorded.
-Risk map - -a grid detailing the potential frequency and severity of risks
faced by the organization
-Risk appetite - -The degree of uncertainty an entity is willing to take on, in
anticipation of a reward.
-Inherent risk - -susceptibility to significant control problems in the absence
of internal control
-Residual risk - -the risk that remains after management implements
internal controls or some other response to risk
-Optimum risk - -The level of risk that is within an organization's risk
appetite
-Risk control - -A conscious act or decision not to act that reduces the
frequency and/or severity of losses or makes losses more predictable.
-Energy transfer theory - -An approach to accident causation that views
accidents as energy that is released and that affects objects, including living
things, in amounts or at rates that the objects cannot tolerate.
, -Technique of operations review (TOR) - -An approach to accident causation
that views the cause of accidents to be a result of management's
shortcomings.
-Change analysis - -An analysis that projects the effects a given system
change is likely to have on an existing system.
-Job safety analysis (JSA) - -An analysis that dissects a repetitive task,
whether performed by a person or machine, to determine potential hazards if
each action is not performed.
-System safety - -A safety engineering technique also used as an approach
to accident causation that considers the mutual effects of the interrelated
elements of a system on one another throughout the system's life cycle.
-Conceptual phase - -A phase in the life of a system when the basic purpose
and preliminary design of the system are formulated.
-Engineering phase - -A phase in the life of a system when the system's
design is constructed and prototypes are tested.
-Production phase - -A phase in the life of a system when the actual system
is created.
-Operational phase - -A phase in the life of a system when the system is
implemented
-Disposal phase - -A phase in the life of a system when the system reaches
the end of its useful life and is disposed of.
-Causal factors - -Factors that increase risk for an event.
-Failure mode and effects analysis (FMEA) - -a systematic approach to
analyzing the causes and effects of product failures; An analysis that
reverses the direction of reasoning in fault tree analysis by starting with
causes and branching out to consequences.
-Failure mode - -The manner in which a perceived or actual defect in an
item, process, or design occurs.
-Effects analysis - -The study of a failure's consequences to determine a risk
event's root cause(s).
-Indenture level - -An item's relative complexity within an assembly,
system, or function.
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