Risk Management and GRC Concepts

What does the term 'GRC' primarily encompass?

In the context of risk management, what does the term 'vulnerability' refer to?

Which of the following best describes a 'threat' in the context of risk?

What does a 'risk classification system' primarily facilitate?

What was a primary challenge that the ABC Bank of India faced regarding risk management?

In the context of GRC, what is 'compliance' primarily focused on?

According to the provided chapter overview, what is directly linked to the concept of 'assets?'

What does the framework suggest about managing risk?

What is the primary distinguishing factor between a computer virus and a worm?

Which malware type disguises itself as a legitimate application to trick users into launching and executing malicious code?

A rootkit's existence is primarily characterised by its capability to do what?

How does a computer virus typically spread?

If a malicious program replicates itself across a network without any user intervention, which category of malware is most likely to be the culprit?

What is the chief purpose of a Trojan Horse?

What is the primary risk if a rootkit is installed on a computer?

Which malware type can embed malicious code inside the boot instructions of a computer?

What is the primary purpose of implementing a risk management process within a company?

Why might a company not implement controls to counter every identified risk?

In the context of risk management, what does 'risk transference' involve?

How does outsourcing IT infrastructure management serve as a risk mitigation strategy?

What should be the primary consideration when determining the implementation of a risk control?

After risk appetite has been defined and risk exposure identified, what key step follows in the risk management process?

Which of the following best describes the '4 T's' of risk management?

How can risk insights aid an organization's strategic position?

Which scenario best illustrates the relationship between a threat, vulnerability and risk?

In the context of cybersecurity, what best represents the concept of a vulnerability?

Consider a port on a server being flooded with traffic. Which statement best describes how the impact of such an attack can be assessed?

Which of the following best demonstrates a proactive measure to reduce risk associated with a potential cybersecurity threat?

How is the risk of a negative event best defined in the context of the document?

In the given model of risk, what does 'threat' primarily represent?

Which of these statements about threats is most accurate?

Given the document, what does it suggest is the primary method for decreasing the risk of a cybersecurity attack?

Which component of ERM focuses on the standards, processes, and structures that underpin internal control across an organization?

What is the primary role of the Board of Directors and Senior Management in the context of the Control Environment?

Which element is NOT typically considered a part of the Control Environment?

What impact does the Control Environment have on the overall system of internal control?

In the context of Risk Assessment, what is the definition of 'risk'?

What is the relationship between Risk Assessment and the management of risk?

What is a precondition to effective Risk Assessment for an organization?

Management specifies objectives within which categories for the purposes of identifying risks?

What is the primary purpose of risk assessment in the context of internal control?

What aspect of control activities is highlighted in managing risks associated with business processes?

Which of the following best describes control activities?

In terms of risk assessment, identifying threats and vulnerabilities is crucial for understanding what?

What role does technology play in enhancing business performance according to the content?

Which type of checks do control activities encompass?

What is a key consideration for organizations regarding the mitigation of risks?

Why is information considered essential for internal control responsibilities?