Managing Risk Flashcards
You’re the chief security contact for MTS. One of your primary tasks is to document everything related to security and to create a manual that can be used to manage the company in your absence. Which documents should be referenced in your manual as the ones that identify the methods used to accomplish a given task?
Policies
Standards
Guidelines
Guidelines
Guidelines help clarify processes to maintain standards. Guidelines tend to be less formal than policies or standards
Consider the following scenario. The asset value of your company’s primary servers is $2 million, and they are housed in a single office building in Anderson, Indiana. Field offices are scattered throughout the United States, but the workstations located at the field offices serve as thin clients and access data from the Anderson servers. Tornados in this part of the country are not uncommon, and it is estimated that one will level the building every 60 years. Which of the following is the SLE for this scenario?
$2 million
$1 million
$500,000
$2 million
It does not matter how frequent a loss is projected (only once every 60 years, in this case). What does matter is that each occurrence will be disastrous: SLE (single loss expectancy) is equal to asset value (AV) times exposure factor (EF). In this case, asset value is $2 million, and the exposure factor is 1
Refer to the scenario in question 2. Which of the following amounts is the ALE for this scenario?
$1 million
$500,000
$33,333.33
$33,333.33
ALE (annual loss expectancy) is equal to the SLE times the annualized rate of occurrence. In this case, the SLE is $2 million, and the ARO is 1/60
Refer to the scenario in question 2. Which of the following is the ARO for this scenario?
0.0167
1
5
0.0167
ARO (annualized rate of occurrence) is the frequency (in number of years) that an event can be expected to happen. In this case, ARO is 1/60, or 0.0167
Which of the following strategies involves identifying a risk and making the decision to discontinue engaging in the action?
Risk acceptance
Risk avoidance
Risk mitigation
Risk avoidance
Risk avoidance involves identifying a risk and making the decision no longer to engage in the actions associated with that risk
Which of the following policy statements may include an escalation contact in the event that the person dealing with a situation needs to know who to contact?
Scope
Exception
Overview
Exception
The exception policy statement may include an escalation contact in the event that the person dealing with a situation needs to know whom to contact
Which of the following policies are designed to reduce the risk of fraud and prevent other losses in an organization?
Separation of duties
Acceptable use
Least privilege
Separation of duties
A separation of duties policy is designed to reduce the risk of fraud and to prevent other losses in an organization
What is the term used for events that were mistakenly flagged although they weren’t truly events about which to be concerned?
Non-incidents
Error flags
False positives
False positives
False positives are events that were mistakenly flagged and aren’t truly events to be concerned about
Which of the following is the structured approach that is followed to secure a company’s assets?
Audit management
Incident management
Change management
Change management
Change management is the structured approach that is followed to secure a company’s assets
Which of the following strategies involves sharing some of the risk burden with someone else, such as an insurance company?
Risk deterrence
Risk mitigation
Risk transference
Risk transference
Risk transference involves sharing some of the risk burden with someone else, such as an insurance company
The risk assessment component, in conjunction with the__________, provides the organization with an accurate picture of the situation facing it.
RAC
ALE
BIA
BIA
The risk-assessment component, in conjunction with the business impact analysis (BIA), provides an organization with an accurate picture of the situation it faces
Which of the following policy statements should address who is responsible for ensuring that the policy is enforced?
Exception
Overview
Accountability
Accountability
The accountability policy statement should address who is responsible for ensuring that the policy is enforced
Which of the following strategies is accomplished any time you take steps to reduce risk?
Risk avoidance
Risk transference
Risk mitigation
Risk mitigation
Risk mitigation is accomplished any time you take steps to reduce risk
If you calculate the SLE to be $4,000 and that there will be 10 occurrences a year (ARO), then the ALE is:
$400
$4,000
$40,000
$40,000
If you calculate the SLE to be $4,000 and that there will be 10 occurrences a year (ARO), then the ALE is $40,000 ($4,000 × 10)
Which of the following policies describes how the employees in an organization can use company systems and resources, both software and hardware?
Separation of duties
Acceptable use
Least privilege
Acceptable use
The acceptable use policies describe how the employees in an organization can use company systems and resources, both software and hardware
