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NEW QUESTION # 55
The resources and time required to implement an RBI assessment will vary widely between organizations depending on a number of factors including:
Answer: C
Explanation:
API 580 Section 6.6 specifies:
"The resources and time required to implement an RBI assessment will vary widely between organizations depending on a number of factors including... g) degree of precision required." Other listed factors include knowledge and training, data availability, and complexity of analysis, but not the number of mitigation activities or whether CoF or PoF is the dominant risk driver.
Reference: API 580, 2nd Edition (2016), Section 6.6
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NEW QUESTION # 56
Process used to compare the estimated risk against given risk criteria to determine the significance of the risk.
Answer: A
NEW QUESTION # 57
Potential source of errors in rbi analysis regarding data quality are the following except
Answer: C
NEW QUESTION # 58
An iso-risk line on a risk plot is a line:
Answer: D
Explanation:
Section 11.6.3 of API 580 defines iso-risk lines:
"An ISO-risk line represents a constant risk level... All items that fall on or very near the ISO-risk line are roughly equivalent in their level of risk." This confirms that iso-risk lines plot constant risk across varying combinations of probability and consequence.
Reference: API 580, 2nd Edition (2016), Section 11.6.3 - Risk Plots
NEW QUESTION # 59
If a QRA has been prepared for a process unit, the analysis can borrow extensively from this effort.
Answer: B
NEW QUESTION # 60
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