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Questions and Answers
Which one of the following best describes security?
Which one of the following best describes security?
- A process of mitigating risk (correct)
- An unavoidable occurrence
- A continuous practice
- An exposure or weakness
What is the definition of risk?
What is the definition of risk?
- A continuous process and practice of mitigating risk
- The possibility of a threat exploiting a vulnerability within an asset (correct)
- An exposure or weakness
- An unavoidable occurrence that exploits risk
How can we quantify the possibility of risk?
How can we quantify the possibility of risk?
- By focusing on continuous practice
- By avoiding threats and vulnerabilities
- By minimizing the likelihood and impact, risk is avoidable
- Risk = (likelihood of event) x (impact) (correct)
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Study Notes
Security
- Security refers to the protection of assets, data, and information from unauthorized access, use, disclosure, disruption, modification, or destruction.
- It involves the implementation of measures to prevent, detect, and respond to threats, vulnerabilities, and attacks.
Risk
- Risk is the likelihood and potential impact of an event or situation that could have a negative effect on an organization or individual.
- It is a situation involving exposure to danger, which may result in loss, injury, or other negative consequences.
Quantifying Risk
- Probability is a measure of the likelihood of a risk occurring, expressed as a number between 0 (impossible) and 1 (certain).
- Impact is the potential magnitude of the loss or damage resulting from a risk, measured in terms of financial, operational, or reputational effects.
- Risk can be quantified using a risk matrix, which plots the probability of a risk against its potential impact, resulting in a rating of low, moderate, or high risk.
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