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Risk Management Fundamentals

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Questions and Answers

What is the primary goal of risk management?

To identify potential threats

To analyze business impacts

To identify mission-essential functions (correct)

To identify risk response options

What are the key factors used to assess risk?

The likelihood of an incident, the cost of deploying additional security controls, and the impact of the incident

The likelihood of an incident, the cost of deploying additional security controls, and the probability of a vulnerability being activated

The likelihood of an incident, the cost of deploying additional security controls, and the probability of a vulnerability being activated as a security incident (correct)

The likelihood of an incident, the cost of deploying additional security controls, and the probability of a vulnerability being activated as a mission-essential function

What is typically involved in risk management?

Identifying, assessing, and mitigating risk to protect mission-essential functions (correct)

Identifying, assessing, and mitigating risk to protect vulnerable functions

Identifying, assessing, and mitigating risk to protect mission-essential vulnerabilities

Identifying, assessing, and mitigating risk to protect vulnerable threats

Study Notes

Risk management requires identifying mission-essential functions and vulnerabilities, identifying threats, analyzing business impacts, and identifying risk response options.
The key factors used to assess risk include the likelihood of a vulnerability being activated as a security incident, the impact of that incident, and the cost of deploying additional security controls.
Risk management typically involves identifying, assessing, and mitigating risk to protect mission-essential functions.

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Description

Test your knowledge of risk management fundamentals, including identifying vulnerabilities, assessing risk factors, and mitigating potential threats to protect mission-essential functions.