Risk, Issue & Quality Management
24 practice questions with explanations — 15 free to try
PassNova has 24 APM Project Fundamentals (PFQ) practice questions on Risk, Issue & Quality Management, each with a clear explanation. A 15-question taster is free with no sign-up; the full bank is part of PassNova Premium. Updated for 2026.
Risk, Issue & Quality Management: example questions & answers
3 worked examples with answers and explanations below. Try 15 APM Project Fundamentals (PFQ) questions free in the browser; the full 24-question Risk, Issue & Quality Management bank is part of PassNova Premium.
In APM terms, what is the key difference between a risk and an issue?
- AA risk is an uncertain future event; an issue is something that has already occurred and needs managing now✓
- BRisks and issues are identical and managed the same way
- CAn issue only affects cost, while a risk only affects time
- DA risk has already happened and is being managed now; an issue is something that might possibly happen in the future
Answer: A risk is an uncertain event that may occur in the future, whereas an issue is a problem or event that has already happened and requires immediate action.
In qualitative risk assessment, a risk's significance is typically evaluated by considering its:
- AProbability of occurring and its impact if it does✓
- BOwner's job title
- CPosition in the work breakdown structure and its reference number
- DColour on the report and the category it was filed under
Answer: Qualitative risk assessment combines the probability (likelihood) of a risk with its impact (consequence) to prioritise risks for response.
Which of the following is a valid response to a threat (negative risk)?
- AShare to increase the upside
- BExploit
- CAvoid✓
- DEnhance
Answer: Standard responses to a threat are avoid, reduce (mitigate), transfer and accept; 'avoid' removes the threat by eliminating its cause.