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03. CISM - Chapter 3 - Information Security Risk Assessment > Chapter 3 Review > Flashcards

Chapter 3 Review Flashcards

1
Q

Chapter 3 Review

When implementing this program, the organization must consider several characteristics;

1. Risk tolerance
2. Management Structure
3. Executive Management Support
4. Culture
5. Regulatory and Legal obligations

A

RISK MANAGEMENT PROGRAM

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2
Q

Chapter 3 Review

When implementing a risk management program, the organisation must consider the characterstics of the following 5 things;

  1. ____ ; Senior Management contentness with deviation from risk appetite
  2. ____ ; How many managers, and their business unit alignments
  3. ____ ; How well the program is endorsed
  4. ____ ; Attitudes within the business
  5. ____ ; Mandated committments
A
  1. RISK TOLERANCE
  2. MANAGEMENT STRUCTURE
  3. EXEC MANAGEMENT SUPPORT
  4. CULTURE
  5. REGULATORY and LEGAL OBLIGATIONS
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3
Q

Chapter 3 Review

A risk management program should include several avenues of this so that business leaders and stakeholders understand the program and how it is integrated into the organization.

A

COMMUNICATION

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4
Q

Chapter 3 Review

The risk management program should be transparent with regard to these 2 things

A

PROCEDURES and PRACTICES

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5
Q

Chapter 3 Review

When building or improving a risk management program, security managers may select one of several industry frameworks, such as:

  1. ISO/IEC ____
  2. ISO/IEC ____
  3. ISO/IEC ____
  4. NIST SP 800-____
  5. NIST SP 800-____
  6. C____
  7. R____ I ____
  8. R____
  9. F____
A
  1. ISO/IEC 27001
  2. ISO/IEC 27005
  3. ISO/IEC 31010
  4. NIST SP 800-37
  5. NIST SP 800-39
  6. COBIT
  7. Risk IT
  8. RIMS
  9. FAIR
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6
Q

Chapter 3 Review

Risk management program frameworks offer these 7 similar components to each other

  1. S____ ; What is covered
  2. O____ ; Desired targets
  3. P____ ; Governance
  4. R____ ; Senior Mgmt contentness with deviation from risk appetite
  5. R____ ; Definining ownership and what personnel must do
  6. R____ ; A Lifecycle process
  7. M____ ; An analysis by leaders
A
  1. SCOPE
  2. OBJECTIVES
  3. POLICY
  4. RISK TOLERANCE
  5. ROLES and RESPONSIBILITIES
  6. RISK MANAGEMENT LIFE-CYCLE
  7. MANAGEMENT REVIEW
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7
Q

Chapter 3 Review

To the greatest reasonable extent, a risk management program should be integrated into the business to avoid causing this to the organization whilst also achieving this in regards to risk

A

DISRUPTION
MINIMIZING RISK

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8
Q

Chapter 3 Review

When planning a risk management program, the security manager and executive leadership need to understand and this in regards to why the program has been put in place

A

CONTEXT

This includes the program’s scope, participants and stakeholders, and risk tolerance.

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9
Q

Chapter 3 Review

This person must consider many aspects of the organization’s internal and external environments such as;

  1. Market and Economic Conditions
  2. External Stakeholders
  3. Customers
  4. External Threats
A

SECURITY MANAGER

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10
Q

Chapter 3 Review

The security manager must consider these 4 aspects in regards to the internal and external environments when devloping a risk management program;

  1. ____ ; Environment in which the business is operating
  2. ____ ; Third party people who have an investment in the business
  3. ____ ; People to whom the business exists to serve
  4. ____ ; Actors or events outside of the business that serve to cause harm
A
  1. MARKET and ECONOMIC CONDITIONS
  2. EXTERNAL STAKEHOLDERS
  3. CUSTOMERS
  4. EXTERNAL THREATS
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11
Q

Chapter 3 Review

The security manager may need to perform a one of these to better understand the current state as compared to the desired future state of the program.

A

GAP ANALYSIS

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12
Q

Chapter 3 Review

Security managers can fill gaps in these 2 areas of their understanding through networking with other security and risk professionals, training, periodicals, and conferences.

A

KNOWLEDGE and EXPERIENCE

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13
Q

Chapter 3 Review

The risk management life cycle consists of a set of activities that enable the organisation to to these 2 things in relation to risk.

A

DISCOVER and MANAGEMENT

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14
Q

Chapter 3 Review

These are the 6 steps in the risk management life cycle process;

  1. S____ ; Defining what the program covers
  2. A____ ; Discovering information/information systems and their worth
  3. Risk I____ ; What are the risks
  4. Risk A____ ; Determine the threat, likliehood and impacts of the risks
  5. Risk T____ ; Determine remediation activities
  6. Risk C____ ; Tell people about the risks
A
  1. SCOPE DEFINITION
  2. ASSET IDENTIFICATION and VALUATION
  3. RISK IDENTIFCATION
  4. RISK ANALYSIS
  5. RISK TREATMENT
  6. RISK COMMUNICATION
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15
Q

Chapter 3 Review

Carrying these out on a periodic basis contribute to continued risk identification.

A

RISK ASSESSMENTS

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16
Q

Chapter 3 Review

A key step in risk analysis is the identification of vulnerabilities, or weaknesses, in these 3 areas

  1. P____ ; Individuals
  2. B____ P ____ ; Methodologies
  3. T____ ; Hardware or software
A
  1. PEOPLE
  2. BUSINESS PROCESSES
  3. TECHNOLOGY
17
Q

Chapter 3 Review

A key step in risk analysis is the identification and analysis of these 2 threats

A

INTERNAL and EXTERNAL

18
Q

Chapter 3 Review

Security managers need to recognize that these things often need to be considered in a risk assessment, and some may not yet be included in current standards.

A

EMERGING THREATS

19
Q

Chapter 3 Review

After risks are identified, the amount of risk present can be calculated using input from these 5 areas;

  1. T____ ; Events that could cause harm
  2. T____ A ____ ; Individuals or groups that could cause harm
  3. V____ ; Weaknesses in systems or processes
  4. A____ V ____ ; Worth of Information/Information systems
  5. I____ ; Ramifications of events occurring
A
  1. THREATS
  2. THREAT ACTORS
  3. VULNERABILITES
  4. ASSET VALUE
  5. IMPACT
20
Q

Chapter 3 Review

In most cases, risk is calculated in this way to provide an easy to understand evaluation of the risk

A

QUALITATIVE

primarily because it is difficult to know the precise (or even an approximate) probability of threat occurrence and somewhat difficult to know the financial impact of a threat.

21
Q

Chapter 3 Review

In quantitative risk analysis, key values are;

  1. (AV)
  2. (EF)
  3. (SLE)
  4. (ARO)
  5. (ALE)
A
  1. ASSET VALUE (AV)
  2. EXPOSURE FACTOR (EF)
  3. SINGLE LOSS EXPECTANCY (SLE)
  4. ANNUALISED RATE OF OCCRRENCE (ARO)
  5. ANNUALISED LOSS EXPECTANCY (ALE)
22
Q

Chapter 3 Review

RISK = T____ x V ____

A

RISK = THREATS x VULNERABILITIES
RISK = THREATS x VULNERABILITIES x ASSET VALUE
RISK = THREATS x VULNERABILITIES x PROABILITY

23
Q

Chapter 3 Review

Industry-standard techniques are available for performing risk analysis, including

  1. O____
  2. B____ T ____ Analysis
  3. D____ Method
  4. B____ Analysis
  5. E____ T ____ Analysis
  6. F____ T ____ Analysis
  7. M____ C ____ Analysis
A
  1. OCTAVE ALLEGRO
  2. BOW TIE ANALYSIS
  3. DELPHI METHOD
  4. BAYESIAN ANALYSIS
  5. EVENT TREE ANALYSIS
  6. FAULT TREE ANALYSIS
  7. MONTE CARLO ANALYSIS

Delph climbed a tree in Monte Carlo bay with his 8 pokka dot bow tie on

24
Q

Chapter 3 Review

Risks identified in a risk assessment or risk analysis needs these 4 activities performing;

  1. E____ ; Assessed
  2. R____ ; Scored against a matrix
  3. C____ ; Placed into a corresponding grouping
  4. A____ ; Responsibility appointed to an individual
A
  1. EVALUATED
  2. RANKED
  3. CATEGORIZED
  4. ASSIGNED A RISK OWNER
25
Q

Chapter 3 Review

An organization will enact these to address a risk.

A

CONTROLS

26
Q

Chapter 3 Review

Risk management and this program have several common components and linkages.

A

BUSINESS CONTINUITY PLANNING

27
Q

Chapter 3 Review

Risk Management and Business Continuity Planning both are concerned with these 2 areas, and both utilize business impact analysis to better understand the organization’s most critical processes.

A

BUSINESS RESILIENCE and SURVIVAL

28
Q

Chapter 3 Review

Risk Management and Business Continuity Planning both are concerned with business resilience and survival, and both utilize this method to better understand the organization’s most critical processes.

A

BUSINESS IMPACT ANALYSIS

29
Q

Chapter 3 Review

This tool is the central business record in a risk management program.

A

RISK REGISTER

30
Q

Chapter 3 Review

A risk register is a catalog of all current and historical risks, along with many pieces of metadata describing what in relation to risk.

A

EACH RISK IN DETAIL

31
Q

Chapter 3 Review

A risk register may be stored in a

  1. S____
  2. D____
  3. G____
A
  1. SPREADSHEET
  2. DATABASE
  3. GRC TOOL
32
Q

Chapter 3 Review

____ and ____ are incorporated into many other business activities, including but not limited to;

  1. software development
  2. change management
  3. configuration management
  4. incident and problem management
  5. physical security
  6. enterprise risk management
  7. human resource management
A

SECURITY and RISK MANAGEMENT

33
Q

Chapter 3 Review

This program is established to close the gap between the existing state of controls, as identified by a risk assessment, and the desired state, which will be obtained through meeting control objectives

A

INFORMATION SECURITY PROGRAM

Most standard frameworks for information security show the development of an information security program as starting with a risk assessment and control objectives

03. CISM - Chapter 3 - Information Security Risk Assessment (7 decks)

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