Risk Management

What are the two steps in the risk management process?

• Backing up company data

• Risk assessment

• Training employees

• Dealing with the risks

Why do organizations need to manage risk?

• For the safety of employees

• To ensure customers return to the business

• To prevent loss and reduce the effect of threats on company operations

• To generate more profit

What do you NOT need to evaluate when conducting a risk assessment for your assets?

• How critical that asset is to your business

• Your insurance policy

• The likelihood of a specific risk occurring

• The impact of the risk occurring on your organization's operations

To protect data and assets, areas of an organization are broken down into information technology ______

What is the weakest link in the security chain?

• Workstations

• Local Area Networks (LAN)

• Users

• Wide Area Networks (WAN)

What is NOT an aspect of risk assessment?

• Assets

• Threats

• Vulnerabilities

• Users

Which of the following is a primary goal of risk management?

• To eliminate all risks

• To identify, assess, and prioritize risks

• To ensure compliance with all regulations

• To increase market share

What is a common method used to mitigate risks?

• Risk acceptance

• Risk avoidance

• Risk transfer

• All of the above

Which of the following involves choosing not to perform an activity that may carry risk?

• Risk acceptance

• Risk Mitigation

• Risk Avoidance

• Risk Transfer

Which of the following involves following a set of actions and practices that seek to reduce the likelihood and/or impact of a specific threat on an asset?

• Risk Acceptance

• Risk Mitigation

• Risk Avoidance

• Risk Transfer