Risk Type Compass

Psychological Consultancy Ltd

Summary of Test Review

General description of Test

The Risk Type Compass is an online psychometric assessment that aims to capture the ways in which adults behave in risk-orientated situations. Three measures are provided by the Risk Type Compass:

•           Risk Type, a personality based measure of an individual’s disposition towards risk.

•           Risk Attitude, an estimate of Risk Attitude across five different risk domains.

•           Risk Tolerance; the Risk Tolerance Index (RTI) is an estimate of an individual’s overall Risk Tolerance.

The Risk Type Compass consists of 102 items.  The first 72 items are normative Likert scale response items and are designed to measure a test taker’s ‘Risk Type’ and the final 20 items are ipsative, and measure ‘Risk Attitude’.  Additionally, there are 10 items within the instrument that are designed to assess the validity of a test taker’s scores.  The tool takes approximately 20 minutes to complete.  A number of reports are available including a personal report for the individual test taker and a team report combining the results of multiple test takers.

There are eight possible ‘Risk Types’ and an individual is assigned to one of these having been compared to a normative group of over seven thousand adults. This sample group represents a wide range of age groups, occupational backgrounds and levels of seniority. Underlying these eight ‘Risk Types’ are two bipolar scales, Calm: Emotional and Daring: Measured.  Each end of the bi-polar scales is associated with a different ‘Risk Type’. The four Pure Risk Types are: Intense, Prudent, Carefree and Composed. Between each of these falls a Complex Risk Type, which adopts aspects from each of its Pure Type neighbours. Together, therefore, there are eight Risk Types and every Risk Type has similarities with its neighbouring Risk Type and has characteristics that are opposite to their facing Risk Type. The individual’s ‘Risk Type’ and strength is plotted on a circular ‘compass’. 

‘Risk Attitude’ considers an individual’s risk preferences across five domains, these are ‘Recreational, Financial, Health and Safety, Social, and Reputational’.  ‘Risk Attitude’ is not normed, rather an individual’s profile reflects their relative preferences.

Finally an overall ‘Risk Tolerance Index’ (RTi) is also provided as an estimate of the individual’s overall Risk Tolerance, incorporating Risk Type and Risk Attitude measures.

 

Suggested uses include planning, research and discussion about risk awareness, risk tolerance, risk management and decision making in selection and development contexts.

Authors of Original Test

Geoff Trickey

Date of Original Review

01/11/2011

Date of Publication of Current Review / Edition

22/12/2017

Test Type

Group function

Personality - Trait

Main Area of Use

Sports and Leisure

Work and Occupational


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