CRM Risk study plan

Map the risk management process step by step onto an organization you actually know, writing one concrete example for each step

Build a 40-item exposure inventory classified by source category (property, liability, human resources, income, crime, technology, strategic)

Write your own definitions of risk, peril, hazard, uncertainty, and probability, then match 15 fresh examples to the correct term

Compare three enterprise risk management frameworks in a one-page table, noting differences in components, terminology, and reporting lines

Diagram an organization's objective hierarchy and link at least two threatening exposures to each objective

Apply a written risk appetite and tolerance statement to your 40-item register, sorting every item into avoid, reduce, transfer, or retain

Place 25 exposures on a 5x5 likelihood-impact matrix and defend each placement in one sentence

Research one organization's ERM governance structure and summarize board reporting lines and risk-owner roles in 300 words

Compute expected loss, standard deviation, and coefficient of variation for three sample loss distributions and interpret which is most volatile

Calculate maximum probable loss and maximum foreseeable loss for two constructed scenarios and explain why they diverge

Build a 12-month loss forecast from three years of sample claim data using a trend method and state every assumption explicitly

List five concrete limits of quantitative analysis (data quality, thin data, correlation, tail events, model error) with an example of each

Match forecasting methods to data patterns, distinguishing frequency data from severity data and explaining what to do with thin data

Rank 15 candidate risk control measures by expected loss reduction per dollar of cost

Explain each level of the control hierarchy with an original example and identify which level each of your 15 measures sits at

Draft the first three sections of a crisis and disaster plan: risk assessment, activation triggers, and roles

Write a crisis and emergency response plan covering six components, a communications tree, and three scenario playbooks

Run a timed tabletop exercise (with colleagues or self-facilitated) and log at least five gaps it reveals

Map the claims management lifecycle from first notice to settlement and identify five decision points where a risk manager intervenes

Apply recovery time objective, recovery point objective, and business impact analysis concepts to one critical business function

Compare retention, insurance transfer, and contractual transfer in a decision table scored on six criteria

Evaluate captives, finite programs, parametric covers, and capital-market transfers against five feasibility criteria

Compute an optimal deductible by comparing retained expected losses plus load against premium savings at three retention levels

Draft and interpret three original specimen clauses, identifying coverage trigger, exclusions, sublimits, and conditions

Draft a RACI chart assigning eight risk management activities across board, chief risk officer, risk committee, and business units

Diagnose four organizational barriers to risk management (culture, incentives, silos, data) and propose one remedy per barrier

Build a one-page executive risk dashboard showing six key indicators with thresholds and escalation rules

Assess political, currency, and regulatory country risk for one international expansion scenario and identify the mitigations available

Explain how executive liability, cyber, and directors and officers exposures fit into a single enterprise view

Re-run a full-domain diagnostic and remediate any domain scoring below 70 percent

Complete two timed 100-question practice exams under exam conditions and review every missed item to root cause

Reconstruct a one-page summary sheet per domain from memory, then correct it against your notes

Rehearse aloud five concise explanations of your weakest concepts as if teaching them