Types Of Risk Respones

Question 1

Accept the risk

Answer 1

If avoiding, mitigating, or transferring the risk would cost more than expected losses of the realized threat

Question 2

Mitigate

Answer 2

Also called risk reduction or risk modification
Reduces the likelihood of a threat being realized or lessening the impact that the realized threat would have on the organization.
Example: moving from a single factor to multifactor authentication

Question 3

Transfer

Answer 3

Also known as risk assignment
Involves shifting the responsibility and potential loss associated with a risk onto a 3rd party.
Example: Insurance

Question 4

Avoid

Answer 4

Involves eliminating an identity risk by stopping or removing the activity or technology that causes the risk.
Example: policy than ban the use of removable media or personal cloud storage services

Question 5

Rejection

Answer 5

You know the risk is there but you are ignoring it. Never acceptable