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“200”, Aptitude Test
Questions and Answers for Senior Risk Management Officer – The Office of Treasury Registrar
(OTR).
ABSTRACT
This material presents a comprehensive set
of 200 high-level multiple-choice questions designed to prepare candidates for
the Public Service online aptitude test for the position of Senior Risk
Management Officer at the Office of the Treasury Registrar (OTR). The
questions reflect the real PSRS examination style—analytical, scenario-based,
and intentionally close in answer choices—to assess a candidate’s judgment,
technical understanding, and decision-making capacity under pressure. The
content covers enterprise risk management, public sector governance, internal
controls, financial and operational risk, compliance, reporting, budgeting, and
ethical responsibility within Tanzania’s public institutions and parastatal
environment. Each question includes a correct answer and a clear rationale to
strengthen conceptual understanding rather than memorization. Overall, this
resource is designed to simulate actual exam conditions, build confidence,
sharpen analytical thinking, and enhance the readiness of experienced public
servants competing for senior risk management roles.
Prepared by:
Senior Risk Management Officers
Date: September 10, 2025
Dear applicants,
This collection of questions and answers
has been carefully prepared to help all of you to understand the key areas
tested during the interview. The goal is to provide a useful, and practical
study guide so you can all perform confidently and fairly in the selection
process. I wish you the best of luck, and may this resource support you in
achieving success!
Warm regards,
Johnson Yesaya Mgelwa
For Personal Use by Applicants Preparing
for Senior Risk Management Officer – The Office of Treasury Registrar (OTR) interview.
ALL
QUESTIONS TOGETHER.
1. A parastatal submits a risk report
showing “controls effective” for a high risk, but the same quarter includes
repeated control exceptions. What is the most defensible conclusion?
A. The control design may be
adequate but execution is failing B. The risk score must be reduced immediately C.
Exceptions prove the risk is no longer relevant D. Controls are effective
because exceptions are recorded
Answer: A
Control exceptions in the same
period contradict a blanket “controls effective” conclusion. The most
defensible interpretation is that the control may be designed correctly but is
not consistently executed, monitored, or enforced, meaning residual risk remains
elevated and reporting must reflect implementation reality.
2. A risk officer is asked to set risk
limits for a revenue collection activity. The unit proposes limits that match
last year’s losses rather than appetite. What is the strongest technical
objection?
A. Loss history is irrelevant to
risk limits B. Limits must be tied to procurement thresholds C. Limits should
reflect tolerance, not past failure levels D. Limits should be approved only
after external audit
Answer: C
Risk limits are forward-looking
boundaries aligned to risk appetite and tolerance, not simply historical
losses. Using last year’s losses can normalize poor performance and embed
failure into governance rather than setting a deliberate acceptable exposure
level.
3. A corporation “accepts” a high-risk item
but does not assign an owner because it will not be mitigated. What is the best
governance interpretation?
A. Acceptance eliminates the need
for accountability B. The risk is transferred to the board by default C.
Unowned risks undermine accountability even if accepted D. Ownership is
optional for accepted risks
Answer: C
Even accepted risks require
ownership for monitoring, trigger tracking, and escalation if conditions
change. Removing ownership breaks accountability and creates blind spots,
especially in public entities where acceptance must be justified and revisited.
4. A risk officer chooses not to report an
emerging risk because it is “not measurable yet.” What is the most correct
response?
A. Emerging risks should be
reported with qualitative indicators B. Only quantified risks belong in formal
reports C. The risk should be ignored until measurable D. The risk should be
disclosed only to internal audit
Answer: A
Emerging risks often begin as
qualitative signals. PSRS-style best practice is to report them using
narrative, early warning indicators, and assumptions, then refine measurement
later—rather than excluding them entirely.
5. A parastatal’s risk appetite allows
moderate financial risk but low reputational risk. A policy breach is unlikely
to cause fines, but public trust impact would be severe if exposed. What is the
most defensible rating emphasis?
A. Financial impact should
dominate since fines are low B. Likelihood should dominate since exposure is
uncertain C. Reputational impact should dominate given low tolerance D. Treat
as operational risk only
Answer: C
Where reputational tolerance is
low, severe trust impact becomes decisive even if direct fines are limited.
Public entities must weigh stakeholder trust heavily; a low-tolerance category
should drive prioritization and response.
6. A risk mitigation reduces likelihood from
4 to 2 but increases impact from 3 to 5 due to dependence on a single vendor.
What is the best overall interpretation?
A. Risk improves because
likelihood dropped B. Risk worsens because impact increased C. Outcome depends
on the net risk score and scenario realism D. Risk is unchanged because one
factor offset the other
Answer: C
The correct evaluation is not
emotional; it depends on the updated risk score and whether the new dependency
realistically increases impact severity. In PSRS logic, you must compute and
then assess whether the new impact profile changes treatment priorities.
7. A unit claims “risk mitigated” because a
policy was issued, but staff are unaware and compliance is untested. What is
the best classification of the control?
A. Detective control B. Cosmetic
control with unproven effectiveness C. Preventive control fully implemented D.
Corrective control verified by outcomes
Answer: B
A policy alone is not a
functioning control unless communicated, understood, enforced, and tested. This
is a classic “paper control” trap: looks good in documents but does not
reliably reduce risk.
8. A risk report shows fewer high risks this
quarter because management changed scoring thresholds, not because controls
improved. What is the most accurate statement?
A. Risk exposure genuinely
decreased B. Reporting became more efficient C. Comparability across periods is
compromised D. Threshold changes prove maturity
Answer: C
Changing thresholds breaks trend
comparability. Without consistent scoring logic (or a documented restatement),
apparent improvement may be purely methodological, misleading leadership about
true exposure.
9. A risk officer identifies a compliance
risk and proposes “acceptance” because enforcement is currently weak. What is
the strongest counterpoint?
A. Weak enforcement reduces
likelihood permanently B. Compliance risk includes future enforcement and duty
to comply C. Only financial risks require mitigation D. Acceptance is standard
for compliance risks
Answer: B
Compliance obligations exist
regardless of current enforcement intensity. Enforcement can change abruptly,
and public institutions must uphold legal duty and integrity; acceptance based
on weak enforcement is a fragile and unethical basis.
10. A risk owner reports all risks as “on
track” but misses reporting deadlines repeatedly. What is the best inference?
A. Reporting discipline indicates
control discipline weakness B. Deadlines are irrelevant to risk status C. Risk
status is accurate despite delays D. Only the board can question updates
Answer: A
Missed deadlines are an early
warning signal of weak accountability and process discipline. If reporting is
weak, mitigation execution and monitoring may also be weak, making the “on
track” label less credible.
11. A corporation introduces a new control
that reduces fraud loss but increases processing time, causing service delays.
What is the most defensible next step?
A. Remove control immediately B.
Accept delays because fraud reduced C. Optimize the control to reduce delays
while keeping protection D. Ignore delays until public complaints rise
Answer: C
Best practice is to optimize:
maintain risk reduction while adjusting workflow, automation, approvals, or
segmentation to cut delay. PSRS questions reward balanced thinking, not extreme
reactions.
12. A risk officer uses last year’s budget to
justify this year’s risk mitigation budget without reassessing current risk
exposure. What is the core weakness?
A. Budgeting should ignore risk
exposure B. Mitigation funding must be dynamic and risk-based C. Finance should
set risk budgets alone D. Budget history is always sufficient
Answer: B
Mitigation budgets should follow
current risk priorities, not historical allocations. Static budgeting can
underfund new threats or overfund outdated risks, weakening overall control
effectiveness.
13. A unit exceeds its risk limit and
proposes revising the limit upward “just for this period.” Which is the best
governance response?
A. Approve to avoid disrupting
operations B. Revise limit if unit performance is strong C. Treat as a breach
requiring escalation and corrective action D. Ignore if the breach is small
Answer: C
Limits exist to enforce
discipline. A breach should trigger escalation, root cause analysis, and
corrective action. Adjusting limits to fit behavior undermines governance and
encourages repeated breaches.
14. A risk register lists a risk as
“accepted,” but the external environment changes and makes the risk more
likely. What is the most correct action?
A. Keep accepted status unchanged
for consistency B. Reassess risk and escalate if tolerance is threatened C.
Remove the risk since it was accepted D. Delay reassessment until annual review
Answer: B
Acceptance is not permanent. When
conditions change, the risk must be reassessed and escalated if it may exceed
tolerance. This is core to continuous risk management and dynamic monitoring.
15. A risk officer is pressured to “soften
wording” in the report to avoid alarming stakeholders, while keeping the
numeric rating unchanged. What is the most defensible stance?
A. Change wording because rating
is unchanged B. Use neutral wording and remove negative qualifiers C. Keep
wording accurate and evidence-based D. Remove the risk narrative section
entirely
Answer: C
Even if the numeric rating
remains, misleading narrative can distort decision-making. Professional
integrity requires accurate, evidence-based wording so stakeholders understand
urgency and context.
16. A corporation has frequent near-misses,
but no actual losses. Management argues controls are effective. What is the
strongest rebuttal?
A. Near-misses may indicate
controls are failing by chance B. Near-misses prove controls are perfect C.
Only losses matter in risk management D. Near-misses should never be recorded
Answer: A
Near-misses indicate that a
failure nearly occurred; repeated near-misses often mean controls are weak,
inconsistently applied, or dependent on luck. Ignoring them misses prevention
opportunities.
17. In a simple score model, a risk moves
from (Likelihood 3, Impact 5) to (Likelihood 2, Impact 4). What is the most
correct statement?
A. Risk reduced from 15 to 8, so
treatment can change B. Risk reduced from 8 to 15, so it escalates C. Risk
stays the same because both changed D. Risk cannot be compared across periods
Answer: A
Original score = 3×5 = 15. New
score = 2×4 = 8. The reduction is material and may justify moving from urgent
mitigation to controlled monitoring, depending on appetite and thresholds.
18. A risk officer reports only “top 5” risks
to senior leadership to keep reports short. What is the main downside?
A. Reporting becomes too detailed B.
Leadership never needs context C. Medium risks cannot escalate quickly D. Only
top risks matter
Answer: C
PSRS-style: medium risks can
escalate quickly or combine into bigger exposure. Reporting only top risks may
hide emerging trends and reduce early intervention capability.
19. A mitigation plan exists, has an owner,
and has a timeline, but lacks measurable indicators. What is the best critique?
A. Indicators are optional if
ownership exists B. Measurement is needed to verify effectiveness C. Timelines
replace measurement D. Ownership implies success
Answer: B
Without indicators, you cannot
verify whether the mitigation is working. PSRS questions often test this:
governance is not just assigning tasks—it’s measuring outcomes.
20. A corporation centralizes risk reporting
under one unit, but departments complain risks are being “reframed” to look
better. What is the best control improvement?
A. Remove department input
entirely B. Ban qualitative language in reports C. Introduce transparent
validation and sign-off by risk owners D. Reduce report circulation
Answer: C
A strong improvement is a
validation/sign-off process where risk owners confirm accuracy, plus clear
criteria and audit trails for edits. This maintains consistency while
preserving truth and accountability.
21. A risk officer sets training for risk
awareness once a year and reports “culture strengthened.” Incident reporting
remains low. What is the best conclusion?
A. Culture is strong because
training happened B. Low reporting proves low risk C. Culture change needs
reinforcement and safe reporting channels D. Annual training is always
sufficient
Answer: C
Risk culture requires continuous
reinforcement, leadership tone, and safe channels. Low reporting can mean fear
or apathy, not low risk. Annual training alone is typically insufficient.
22. A unit proposes adding a control that
reduces fraud but increases manual handling, raising the chance of errors. What
is the best risk response framing?
A. Trade-off creates new
operational risk needing mitigation B. Fraud reduction eliminates all other
risks C. Manual handling automatically improves accuracy D. Operational risk is
irrelevant if fraud reduces
Answer: A
Mitigation can introduce new
risks. The correct approach is to recognize the new operational risk and design
additional safeguards (segregation, checks, automation) so net risk reduces.
23. A risk officer is told: “Do not report
this risk; it will harm investor confidence.” What is the most PSRS-correct
action?
A. Keep it private until it
happens B. Report it objectively through formal governance channels C. Remove
it from the risk register D. Reword it to remove urgency entirely
Answer: B
The duty is objective reporting
through appropriate channels. Suppressing material risks undermines governance
and may create bigger reputational and financial fallout later.
24. A risk register contains many risks but
only a few have mitigation funding. What is the most defensible diagnosis?
A. Risk identification is strong
but integration with budgeting is weak B. Funding proves risks are not real C.
Register size causes the funding gap D. Mitigation never needs funding
Answer: A
This is a classic public-sector
problem: risks are identified, but budgeting does not reflect priorities.
Without funding, mitigation becomes theoretical and exposure remains unmanaged.
25. A department’s risk rating improves after
staff stop documenting incidents to “reduce negative records.” What is the most
accurate interpretation?
A. Controls improved
substantially B. Risk improved because incidents ended C. Reporting failure
masks true exposure D. Risk is eliminated by documentation changes
Answer: C
Stopping documentation does not
reduce risk; it reduces visibility. This creates false comfort, disables
learning, and increases the chance of severe events going unnoticed until
damage is high.
26 A government corporation continues a
project despite early warning indicators showing rising cost variance and
delayed milestones. The risk officer classifies this as “monitor only” because
management insists completion is critical. What is the most appropriate
professional action?
A. Reclassify as high risk and
escalate through formal reporting channels B. Accept management decision and
remove from risk register C. Downgrade likelihood due to strategic importance D.
Delay escalation until financial year end
Answer: A
Early warning indicators require
escalation and appropriate classification regardless of strategic pressure.
Formal escalation supports governance and ensures leadership makes decisions
using complete information.
27 A risk model shows expected annual loss of
TZS 400 million from procurement irregularities. Implementing a control will
cost TZS 500 million but reduce loss to TZS 50 million. Which is the most
rational decision?
A. Reject control because cost
exceeds expected loss B. Implement control because residual risk becomes
minimal C. Accept risk fully because irregularities are common D. Transfer risk
entirely to insurance provider
Answer: B
Although one-year cost exceeds
expected loss, long-term exposure reduction, reputational protection, and
compliance benefits can justify the control. Risk decisions should consider
multi-year and non-financial impacts.
28 A risk officer aggregates risk data from
multiple parastatals but uses inconsistent scoring scales. What is the key
consequence?
A. Difficulty in comparing
enterprise risk levels B. Higher reported risk exposure overall C. Automatic
rejection by external auditors D. Reduced reporting workload
Answer: A
Inconsistent scoring prevents
reliable comparison and prioritization across entities. Enterprise oversight
requires standardized scales so leadership can interpret and act on
consolidated risk information.
29 A corporation sets risk tolerance for
revenue loss at 3% of annual income. Actual loss reaches 2.8% but is trending
upward rapidly. What should be the immediate response?
A. Accept risk as within
tolerance B. Monitor trend and prepare mitigation actions C. Increase tolerance
threshold D. Ignore until threshold is exceeded
Answer: B
Being within tolerance does not
remove the duty to act on early warning trends. Monitoring and preparing
mitigation help prevent breach and reduces the cost of late intervention.
30 A risk report highlights a control
weakness but omits the responsible department to avoid conflict. What is the
primary impact?
A. Reduced accountability and
corrective action B. Improved cooperation across units C. Faster approval of
the report D. Increased risk awareness
Answer: A
Effective risk reporting requires
accountability so corrective actions can be assigned and tracked. Omitting
responsibility weakens governance and delays fixing the control weakness.
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