Understanding IT Risk Assessment

What is the definition of risk in IT?

• The probability of an unexpected, adverse business outcome when a specific threat or malicious actor exploits an information system vulnerability.

• The cost associated with purchasing hardware.

• The process of implementing new software solutions.

• The ability to predict future technology trends.

Which of the following is a common risk management framework?

• ISO 20000

• COBIT Framework

• ITIL Service Management

• NIST Risk Management Framework (RMF)

What does the CIA triad stand for?

• Confidentiality, Integrity, Accountability

• Confidentiality, Integrity, Authenticity

• Confidentiality, Integrity, Accessibility

• Confidentiality, Integrity, Availability

Which method focuses on numerical data for risk assessment?

• Subjective risk evaluation

• Statistical risk analysis

• Quantitative risk assessment

• Qualitative risk assessment

What is a qualitative risk assessment primarily based on?

• Subjective judgment and expert opinions.

• Historical data and trend analysis.

• Mathematical calculations and algorithms.

• Statistical analysis and data modeling.

Which of the following is not a risk mitigation method?

• Dilute

• Transfer

• Reduction

• Accept

What standard is widely used for IT risk management?

• ITIL v3

• ISO/IEC 27005

• NIST SP 800-53

• COBIT 5

True or False: Risk reduction methods aim to eliminate all risks.

• True

• False

True or False: Quantitative risk assessment uses subjective judgment.

• True

• False

How do companies address the the risk of people doing mistakes unknowingly

• Mandatory Training and awareness on InfoSec Policy

• Send emails

• Thinking that people would know, they do not do mistakes

• Inform one person to inform another person not to do mistakes