5_4_1– Risk Management  Risk Management Types
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Questions and Answers

What is the first step in assessing risk in an organization?

  • Consider the total risk for the organization
  • Determine the severity of the risk
  • Identify the assets that could be affected by a security event (correct)
  • Make business decisions on asset protection

Which of the following is considered an asset that could be affected by a security event?

  • Risk severity assessment reports
  • Customer data stored in a database (correct)
  • Historical sales data
  • Employee training manuals

What should be understood about the results of a potential security threat?

  • The location of the security event
  • The potential loss of data or services (correct)
  • The number of employees affected
  • The type of hardware owned by the organization

Why is it essential to determine the severity of a risk?

<p>To decide on the best security tools and processes (B)</p> Signup and view all the answers

What factors should be considered when deciding how to deal with risk in an organization?

<p>Severity of the risk and potential data loss (A)</p> Signup and view all the answers

Why do we need to have the right security tools and processes in place for risky situations?

<p>To deal effectively with long-lasting repercussions (B)</p> Signup and view all the answers

What is one way organizations can address the concerns related to phishing?

<p>Training everyone on phishing risks (C)</p> Signup and view all the answers

Instead of training users, what alternative approach can be taken to mitigate phishing risks?

<p>Reliance on software only (B)</p> Signup and view all the answers

What can organizations do to reduce the risk of malware and ransomware events?

<p>Mitigate risk through software and hardware purchases (C)</p> Signup and view all the answers

Why might some organizations choose to purchase cybersecurity insurance?

<p>To reduce financial impact in case of incidents (C)</p> Signup and view all the answers

What is a suggested method to prevent security events from occurring according to the text?

<p>Purchasing additional software and hardware (C)</p> Signup and view all the answers

What is a potential threat mentioned in the text?

<p>Hackers trying to gain access to data (C)</p> Signup and view all the answers

Who could pose a security threat according to the text?

<p>Disgruntled employees (B)</p> Signup and view all the answers

What is an example of a security risk associated with legacy systems as described in the text?

<p>Incompatibility with new software (D)</p> Signup and view all the answers

Which event involved multiple organizations due to interconnected networks?

<p>American Medical Collection Agency data breach (A)</p> Signup and view all the answers

How can intellectual property be compromised, as discussed in the text?

<p>Failing to identify what IP the organization has (A)</p> Signup and view all the answers

What is emphasized as an important aspect of handling application licensing?

<p>Optimizing license usage and costs (B)</p> Signup and view all the answers

Who are mentioned as potential internal threats in the text?

<p>Disgruntled employees with network access (A)</p> Signup and view all the answers

What should organizations be aware of regarding outdated systems?

<p>They may have significant security concerns (D)</p> Signup and view all the answers

Why is it important for organizations to manage their software compliance effectively?

<p>To avoid overpaying or underutilizing licenses (B)</p> Signup and view all the answers

What could be a consequence of mishandling intellectual property within an organization?

<p>Third parties gaining unauthorized access (B)</p> Signup and view all the answers

What is a potential alternative approach to mitigate phishing risks mentioned in the text?

<p>Changing business processes to avoid risky activities (B)</p> Signup and view all the answers

How can organizations reduce the risk of malware and ransomware events according to the text?

<p>Making changes to business processes to avoid risky activities (C)</p> Signup and view all the answers

What is a suggested method to prevent security events from occurring, as mentioned in the text?

<p>Upgrading outdated applications in the environment (D)</p> Signup and view all the answers

Why might some organizations opt to purchase cybersecurity insurance, according to the text?

<p>To financially protect against malware and ransomware events (C)</p> Signup and view all the answers

What could be a consequence of not addressing security risks in an organization effectively?

<p>Exposure to security events like phishing (C)</p> Signup and view all the answers

What is the importance of identifying assets in assessing risk within an organization?

<p>To determine the severity of the risk associated with each asset (A)</p> Signup and view all the answers

Why is it essential to consider the total risk for the entire organization when addressing risk?

<p>To understand the repercussions of events on the organization going forward (B)</p> Signup and view all the answers

How does understanding the results of potential threats help in risk management?

<p>By making informed decisions on how to deal with risky situations (D)</p> Signup and view all the answers

Why should organizations determine whether a risk has low or high severity?

<p>To guide the implementation of appropriate plans for risk management (D)</p> Signup and view all the answers

What role does knowing the risks associated with assets play in making business decisions?

<p>Affecting decision-making on how to protect assets (D)</p> Signup and view all the answers

In what way does understanding the severity of a risk impact the security measures implemented?

<p>By guiding organizations to put appropriate plans in place (A)</p> Signup and view all the answers

What is a potential source of security threats mentioned in the text?

<p>Outdated infrastructure (C)</p> Signup and view all the answers

How can intellectual property within an organization be compromised?

<p>By setting up cloud permissions incorrectly (B)</p> Signup and view all the answers

Why is it crucial for organizations to identify their intellectual property?

<p>To enable better protection of valuable assets (A)</p> Signup and view all the answers

What is a risky area of concern highlighted in the text regarding organization's software compliance?

<p>Having too few licenses for application usage (B)</p> Signup and view all the answers

What could be a consequence of mishandling software compliance within an organization?

<p>Losing money due to overpaying for licenses (B)</p> Signup and view all the answers

How can legacy systems pose security risks to an organization?

<p>By running outdated operating systems or software (B)</p> Signup and view all the answers

What could be a consequence of neglecting legacy system replacements?

<p>Difficulty in finding security patches (C)</p> Signup and view all the answers

Why is it important for organizations to educate employees about intellectual property?

<p>To increase security related to intellectual property (A)</p> Signup and view all the answers

What is the potential risk if an organization fails to manage its software compliance effectively?

<p>Higher costs due to overpaying for licenses (D)</p> Signup and view all the answers

What aspect of intellectual property theft is highlighted in the text regarding internal threats?

<p>Misuse from disgruntled employees with internal access (A)</p> Signup and view all the answers

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