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CTFL 5.2.1: Identify risk level by using risk likelihood and risk impact

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Syllabus section 5.2.1

3 original PrepBench practice questions for learning objective 5.2.1 of the CTFL 4.0 syllabus. Try the examples below and check each answer against its syllabus reference.

Practice questions

Question 1

Which two factors determine the risk level of a product risk?

  1. Test effort and test coverage
  2. Severity and priority
  3. Cost and schedule
  4. Risk likelihood and risk impact
Show answer
  • Test effort and test coverageTest effort and coverage are responses to risk, not the factors defining its level.
  • Severity and prioritySeverity and priority classify defects, not the level of a product risk.
  • Cost and scheduleCost and schedule are project concerns, not the determinants of risk level.
  • Correct answer: Risk likelihood and risk impactRisk level is the combination of the likelihood of occurrence and its impact.

Risk level is determined by the likelihood that the adverse event occurs and the impact (harm) if it does. Both attributes are assessed during risk analysis and drive how much testing a risk area receives.

Syllabus section 5.2.1

Question 2

In risk management, what does 'risk likelihood' refer to?

  1. The probability that the risk occurs, between zero and one
  2. The consequences or harm caused if the risk occurs
  3. The cost of the tests designed to mitigate the risk
  4. The number of defects already found in the product
Show answer
  • Correct answer: The probability that the risk occurs, between zero and oneRisk likelihood is the probability of occurrence, greater than 0 and less than 1.
  • The consequences or harm caused if the risk occursThe consequences or harm of an occurrence is the risk impact, not the likelihood.
  • The cost of the tests designed to mitigate the riskThe cost of mitigating tests is not what risk likelihood measures.
  • The number of defects already found in the productThe count of defects found is a defect metric, not the definition of risk likelihood.

A risk is characterized by two factors: risk likelihood — the probability of the risk occurring, greater than zero and less than one — and risk impact (harm) — the consequences of the occurrence. Together they express the risk level.

Syllabus section 5.2.1

Question 3

What does the risk level of a risk express, and why does it matter?

  1. The probability of the risk occurring, which must be greater than zero and less than one
  2. The consequences that follow if the risk occurs, expressed as harm to stakeholders
  3. The proportion of the risk that remains after the mitigation actions have been carried out
  4. A measure of the risk from its two factors; the higher it is, the more important its treatment
Show answer
  • The probability of the risk occurring, which must be greater than zero and less than oneThe probability of occurrence is the risk likelihood, one of the two factors.
  • The consequences that follow if the risk occurs, expressed as harm to stakeholdersThe consequences of occurrence are the risk impact, the other factor.
  • The proportion of the risk that remains after the mitigation actions have been carried outWhat remains after mitigation is the residual risk level, reported as a risk metric.
  • Correct answer: A measure of the risk from its two factors; the higher it is, the more important its treatmentA measure from both factors, and a higher level means more important treatment.

A risk can be characterized by two factors: risk likelihood, the probability of the risk occurring, and risk impact or harm, the consequences of that occurrence. These two factors express the risk level, which is a measure for the risk, and the higher the risk level, the more important its treatment.

Syllabus section 5.2.1

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