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ISO 31000 Lead Risk Manager

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31 CPD credits

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Practice exams

Overview

ISO 31000 is an important risk management standard which helps organizations identify potential risks that may impact their objectives. The standard enables practitioners to determine which risks are essential to take before they affect the business, while effectively controlling other risks.

ISO 31000 Lead Risk Manager is a valuable credential for risk management professionals. It testifies to their ability and expertise to support and lead organizations and teams to identify, understand, and manage risks based on ISO 31000. The certification vouches for their ability to implement a risk management framework which can identify and mitigate risks and help organizations achieve their objectives.

Learning Objectives

In addition to preparing you for the certification examination, this course will help you achieve the following learning outcomes set by PECB:

  • Acknowledge the correlation between ISO 31000, IEC/ISO 31010 and other standards and regulatory frameworks 
  • Master the concepts, approaches, methods and techniques used to manage risk within an organization 
  • Learn how to interpret the ISO 31000 principles and guidelines in the specific context of an organization 
  • Learn how to establish an effective risk communication plan and a risk recording and reporting process 
  • Acquire the expertise to support an organization to effectively manage and monitor risk based on best practices 

Who Should Attend this Training

  • Managers or consultants who are currently involved or will be involved in the implementation of an organization-wide risk management framework based on ISO 31000 
  • Professionals responsible for the creation and protection of value in organizations
  • Expert advisors who wish to expand their knowledge of key concepts, processes and strategies of risk management
  • Risk management team members

Prerequisites

To be eligible for the ISO 31000 Lead Risk Manager certification examination, candidates should have an understanding of the ISO 31000 standard and knowledge of risk management. Certification requirements are further detailed in the FAQs section.

Examination Format

  • Essay type questions
  • Passing criteria is 70%, i.e. 53 points or higher out of 75
  • 3 hours duration (+30 minutes for non-English speakers)
  • Open book exam

What’s Next?

Candidates who achieve the ISO 31000 Lead Risk Manager credential can proceed to other risk and audit certifications to further expand their knowledge and skill.

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Syllabus

Exam & Certification FAQs

When will I get my certification examination results?

You can expect your results via email in six to eight weeks after taking the exam. However, keep in mind that you will only be provided with two possible exam results – pass or fail – rather than an exact grade.

In case of exam failure, candidates will receive the results with the list of domains they did not attempt fully. That way, they can prepare better the next time.

 

What does the certification examination cover?

The ISO 31000 Lead Risk Manager certification examination will test you on the following domains, which are shown along with the number of questions you need to attempt:

    • Domain 1: Fundamental principles and concepts of risk management (1 question, 5 points)
    • Domain 2: Risk Management framework and process (7 questions, 50 points)
    • Domain 3: Risk communication and consultation (1 question, 5 points)
    • Domain 4: Risk recording and reporting (1 question, 5 points)
    • Domain 5: Risk monitoring and review (1 question, 5 points)
    • Domain 6: Risk assessment techniques based on IEC/ISO 31010 (1 question, 5 points)

 

What is the exam retake policy?

Candidates can retake a PECB certification exam as many times as they wish. However, the following limitations apply:

    • Candidates need to wait 15 days for their second attempt if they do not pass on the first attempt. They can retake the exam for free within 12 months. 
    • Candidates who do not pass the second attempt need to wait for three months from the initial date of the exam. Examination retake fees will be charged. 
    • Candidates who do not pass the third attempt need to wait for six months from the initial date of the exam. Examination retake fees will be charged.
    • Candidates who do not pass the fourth attempt need to wait for a year (12 months) from the last session date.

 

Which reference materials can I use for the open book exam?

According to PECB’s guidelines, you are authorized to use the following materials only:

    • A copy of the ISO 31000 standard
    • Course notes from the Participant Handout 
    • Any personal notes made while taking a preparation course
    • A hard copy dictionary

 

Are there any certification requirements I should know of?

Yes, there are. To receive your ISO 22301 Lead Implementer certificate, you need to comply with the following requirements:

  • Professional Experience: Five years – two years of which should be related to risk management
  • Risk Management Experience: 300 hours of risk management activities 
  • Other Requirements: Signing PECB Code of Ethics

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