Risk management

About this practice suite

This suite prepares candidates for risk management selection in the finance, accounting, banking, and insurance sector with 5 skill areas: critical thinking, situational judgment, numerical reasoning, data interpretation and attention and concentration. Every question was written by Novus editors for this suite — none are taken from live or leaked exams — and the full bank holds 52 scored questions across three modes, plus 8 reserve questions used to vary repeat attempts. Answer keys never ship to the browser: your answers are scored server-side, and results stay on your device.

Skills this suite practises

• Critical thinking — Evaluating evidence, assumptions, arguments, credibility, and alternative explanations.
• Situational judgment — Evaluating workplace responses against role-relevant principles.
• Numerical reasoning — Arithmetic, fractions, percentages, ratios, rates, estimation, word problems, and number relationships.
• Data interpretation — Tables, charts, graphs, dashboards, trends, comparisons, and evidence-based conclusions.
• Attention and concentration — Sustained focus, selective attention, and accuracy under time pressure.

Sample questions from the guided bank

Two of the 10 guided-practice questions, shown exactly as they appear in a session. Answers and explanations are not printed here — keys stay on the server — so open guided practice to answer them and see how you did.

1. On an enterprise risk register, inherent risk educationally means the risk level:

   • A. Before considering existing controls
   • B. After every control has been proven perfect
   • C. Equal to residual risk by definition
   • D. Only for credit underwriting decisions

2. A business unit reports a KRI breach on payment-failure rates but wants to wait a quarter before escalating. Best risk response?

   • A. Ignore the KRI because the unit is profitable
   • B. Escalate per the agreed threshold policy and document interim mitigation
   • C. Delete the KRI from the dashboard
   • D. Convert the issue into an insurance claim FNOL

Practice modes and timing

Guided practice is untimed-feeling and instructional; the mini-test is a short timed check; the full simulation mirrors a complete sitting. All three draw on separate question sets, so moving up a mode never repeats what you practised.

Study outline

Read the study outline for this suite’s skills, timings, and recommended lessons on one printable page, or download its standalone HTML file. The printable page can also be saved as a PDF from your browser.