Risk Assessment and Asset Valuation Quiz
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Questions and Answers

What is the purpose of an Incident Response Plan (IRP) according to the text?

  • To define actions to take after an incident has occurred
  • To define actions to take while an incident is in progress (correct)
  • To increase the potential gain for an attacker
  • To minimize the risk of a vulnerability being exploited

Which plan encompasses the continuation of business activities if a catastrophic event occurs?

  • Business Continuity Plan (BCP) (correct)
  • Acceptance Control Approach
  • Incident Response Plan (IRP)
  • Disaster Recovery Plan (DRP)

What is the primary goal when applying layered protections, architectural designs, and administrative controls?

  • To minimize the risk of vulnerability exploitation (correct)
  • To maximize the system user's access
  • To increase the attacker's potential gain
  • To accept the outcome of vulnerability exploitation

In which scenario would an organization apply protections to increase the attacker's cost?

<p>When attacker's cost is less than potential gain (B)</p> Signup and view all the answers

What is the essence of the Acceptance Control Approach mentioned in the text?

<p>To evaluate and allow a risky state to continue as is (B)</p> Signup and view all the answers

When should an organization apply layered protections and controls?

<p>When a vulnerability can be exploited (A)</p> Signup and view all the answers

What is the purpose of terminating a business activity according to the text?

<p>To limit the extent of an attack (B)</p> Signup and view all the answers

What is the Annualized Loss Expectancy (ALE) used for?

<p>To calculate expected monetary loss due to risk over a year (C)</p> Signup and view all the answers

What is the starting point to determine the single loss that would occur from a specific item according to the text?

<p>Single Loss Expectancy (SLE) (B)</p> Signup and view all the answers

What does Cost Benefit Analysis (CBA) evaluate before deciding on a strategy?

<p>Assets to be protected and their value (C)</p> Signup and view all the answers

What is the purpose of Feasibility Studies mentioned in the text?

<p>To determine economic consequences of vulnerability (C)</p> Signup and view all the answers

What is the number of times per year that an incident is likely to occur according to the text?

<p>Annualized Rate of Occurrence (ARO) (B)</p> Signup and view all the answers

What is the formula for Annualized Loss Expectancy (ALE) according to the text?

<p>ALE = single loss expectancy (SLE) × annualized rate of occurrence (ARO) (D)</p> Signup and view all the answers

What is the purpose of the Annualized Cost of the Safeguard (ACS) according to the text?

<p>To evaluate the effectiveness of controls (B)</p> Signup and view all the answers

In the context of risk controls, what is ACS an abbreviation for?

<p>Annualized Cost of Security (D)</p> Signup and view all the answers

What is the purpose of Benchmarking as described in the text?

<p>To duplicate practices from other organizations (A)</p> Signup and view all the answers

What is one of the measures typically used in Benchmarking to compare practices?

<p>Metrics-based measures (A)</p> Signup and view all the answers

What should be done after selecting and implementing a control strategy, according to the text?

<p>Continue monitoring and reevaluating controls on an ongoing basis (B)</p> Signup and view all the answers

What is the main purpose of the Cost Benefit Analysis (CBA) formula?

<p>To determine if the alternative being evaluated is worth the cost incurred to control vulnerability. (D)</p> Signup and view all the answers

What type of measures are generally less number-focused and more strategic than metrics-based measures?

<p>Process-based measures (C)</p> Signup and view all the answers

Which of the following is NOT a metrics-based measure for security efforts?

<p>Best business practices (C)</p> Signup and view all the answers

What aspect does the Technical dimension of risk management primarily focus on?

<p>Technology implementation and support (A)</p> Signup and view all the answers

When considering best practices for adoption in an organization, what factor should be assessed regarding resources?

<p>Similarity to identified targets with best practices (D)</p> Signup and view all the answers

What does the Political dimension of risk management define?

<p>Consensus and relationships governing risk decisions (B)</p> Signup and view all the answers

What defines the quantity and nature of risk that organizations are willing to accept?

<p>Risk appetite (B)</p> Signup and view all the answers

Which term refers to the risk that has not been completely removed, shifted, or planned for?

<p>Residual risk (B)</p> Signup and view all the answers

What is one of the key issues mentioned regarding the application of benchmarking and best practices?

<p>No two organizations are similar (B)</p> Signup and view all the answers

What is the process of formally examining and documenting risks in information systems called?

<p>Risk identification (D)</p> Signup and view all the answers

What is the main purpose of baselining in information security?

<p>To compare security activities against past performance (A)</p> Signup and view all the answers

What are the five strategies used to control risks that result from vulnerabilities?

<p>Defend, Transfer, Mitigate, Accept, Terminate (A)</p> Signup and view all the answers

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