The following PMP® exam sample question is taken from the Free PMP Exam Simulator at http://free.pm-exam-simulator.com – The answer is at the very bottom:
On your project you handle known risks by performing the Plan Risk Responses process. Which of the following would you use when you encounter unknown risks?
A.) Risk Reserves
B.) Risk Mitigation
C.) Risk Transfer
D.) Risk Acceptance
Hint: Unknown risks cannot be managed proactively.
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ANSWER AND EXPLANATION:
The correct answer is A
Explanation: Unknown risks are handled by applying Risk Reserves in the project.
Reference: PMBOK Guide 4th Edition, pages 304, 311