PMI-RMP® · PMI · Monitor and Close Risks · Bank updated 2026-07-03
PMI-RMP® practice questions: Monitor and Close Risks
5 free questions from 29 on this area · answer and explanation for each · no sign-up
These 5 questions come from the Monitor and Close Risks section of our PMI-RMP® bank (29 questions on this area, which carries 19% of the real exam). Every question is original, with the correct answer explained and linked to the source it is drawn from.
1/5 · Monitor and Close Risks · easy
A project manager transfers a threat by purchasing an insurance policy. Shortly afterward, the team learns that the insurer has a poor claims-processing track record, which introduces a new risk to the project. What is this new risk called?
AEmergent risk
BSecondary risk
CResidual risk
DTrigger condition
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2/5 · Monitor and Close Risks
A threat identified during planning had a trigger tied to a specific project milestone. That milestone has now passed and the trigger condition did not occur. What should the risk manager do?
ALeave the risk open in the register indefinitely in case conditions change again
BReassign the risk owner to monitor an unrelated risk instead of closing this one
CClose the risk in the risk register and evaluate releasing the contingency reserve associated with it
DAutomatically transfer the unused contingency reserve directly into management reserve without approval
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3/5 · Monitor and Close Risks · hard
A risk manager is evaluating a contingency reserve tied to a threat with a 30% chance of a $20,000 impact if a supplier's certification lapses, and a 70% chance of no impact if the certification renews on time. Before the confirmation date, the certification body publicly confirms the renewal has already been finalized ahead of schedule, meaning the certification cannot now lapse. What is the BEST course of action regarding the associated reserve?
ATransfer the risk to the supplier via a penalty clause now that the outcome is known
BIncrease the reserve to the full $20,000 to cover the worst-case impact
CRecalculate the EMV using the updated probability (now 0%), and since the risk can no longer occur, recommend releasing the associated reserve
DRetain the full $6,000 EMV-based reserve until the originally scheduled confirmation date
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4/5 · Monitor and Close Risks · hard
A risk register entry describes a single threat: there is a 40% probability that a required environmental permit will be delayed, which would cost the project $50,000 in idle-crew charges. Contingency reserve was set aside for this risk in an amount exactly equal to its expected monetary value (EMV). The permit decision date has now passed, and the permit was approved on time, so the risk can no longer occur. During risk closure, what amount of contingency reserve should be released, and through what mechanism?
A$20,000 should be kept in the project's contingency reserve to informally cover other risks, without a change request
B$20,000 (0.40 × $50,000) should be released back to management reserve via a formal change request updating the cost baseline
C$50,000 should be released back to management reserve, since that is the full cost impact stated for the risk
DNo reserve can be released because contingency reserves are fixed once the cost baseline is set and cannot be adjusted afterward
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5/5 · Monitor and Close Risks
An unplanned event occurs that was never entered on the risk register and has no predefined response. The project manager and team improvise an unscheduled corrective action on the spot to address its impact. Which term describes this action?
AA risk transfer arrangement negotiated after the fact with a third party.
BA fallback plan, activated after the primary response strategy failed.
CA workaround.
DA contingent response, executed because a documented trigger condition was met.
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C is correct. A workaround is specifically an unplanned, reactive measure devised to deal with the emergence of a previously unidentified risk or the failure of existing responses, distinguishing it from contingent responses and fallback plans, which are prepared in advance for known risks.
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