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12.0 Risk Management Processes Flashcards | StudBud
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12.0 Risk Management Processes
12.0 Risk Management Processes
50 terms
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Test your knowledge on risk management concepts and terminology with this engaging quiz
Flashcards
50 cards
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Questions
50
Answers
1
What is a cold site?
Predetermined alternate location
Summary of project risks
Disaster recovery plan
Thresholds for different risk levels
2
True or false: Risk exception uses alternate controls.
False
True
3
What is the purpose of a Business Partnership Agreement (BPA)?
Exchange of money
Vendor management
Work together closely
Legal cooperation
4
Which term describes the longest downtime allowed?
Maximum tolerable downtime
Business impact analysis
Mean time to repair
Risk acceptance
5
What is the purpose of a Rules of Engagement (RoE)?
Legal cooperation
Vendor management
Exchange of money
Provide guidelines for pen testing
6
What is the amount that would be lost in a single occurrence of a particular risk factor?
Annualized rate of occurrence
Single loss expectancy
Annualized loss expectancy
Quantitative risk analysis
7
What is a warm site?
A backup facility without equipment
A temporary backup facility
A fully equipped backup facility
A partially equipped backup facility
8
What is a Master Service Agreement (MSA)?
A contract for a specific business arrangement
A contract between a consumer and a provider
A contract that establishes precedence and guidelines
A contract for service requirements and expectations
9
What does RTO stand for?
Recovery time objective
Resource tracking operation
Risk tolerance overview
Real-time operation
10
What is a Memorandum of Understanding (MOU)?
A preliminary agreement to work together
An agreement involving money exchange
A cooperative agreement between public bodies
A legally binding contract
11
What is a Business Partnership Agreement (BPA)?
An agreement for two companies to compete
An agreement between public bodies
An agreement involving money exchange
An agreement for two companies to work together
12
What is residual risk?
Risk from new threats
Risk from past failures
Total risk eliminated
Risk after controls applied
13
What is risk identification?
Calculating financial impact
Listing sources of risk
Assessing market conditions
Evaluating employee skills
14
What is the mathematical measure of the possibility of a risk occurring?
Enterprise risk management
Probability
Impact
Risk assessment
15
What is the comprehensive process of evaluating, measuring, and mitigating the many risks that pervade an organization?
Probability
Risk assessment
Enterprise risk management
Impact
16
What is risk acceptance?
Avoiding risky activities
Mitigating all risks
Ignoring all risks
Determining risk is acceptable
17
What is the purpose of a Statement of Work (SOW)/Work Order (WO)?
Exchange of money
Legal cooperation
Vendor management
Define expectations for a business arrangement
18
What is the risk that an event will pose if no controls are put in place to mitigate it?
Risk Owner
Inherent Risk
Risk Register
Risk Impact
19
What is a Memorandum of Agreement (MOA)?
An agreement involving money exchange
A legally binding contract
A legal document for cooperation without a formal contract
An agreement between public bodies
20
What is a numerical method used to assess the probability and impact of risk and measure the impact?
Inherent Risk
Quantitative Risk Analysis
Risk Analysis
Risk Assessment
21
What is a hot site?
Fully configured alternate processing site
Disaster recovery plan
Thresholds for different risk levels
Summary of project risks
22
True or false: Likelihood is expressed as a percentage.
False
True
23
What is the purpose of a Service-level Agreement (SLA)?
Exchange of money
Vendor management
Legal cooperation
Set service requirements and expectations
24
What is the purpose of a BIA?
Assess employee performance
Identify organizational risks
Evaluate market trends
Calculate financial losses
25
What is risk tolerance?
Business continuity plan
Risk assessment method
Thresholds for different risk levels
Summary of project risks
26
What is continuity of operations (COOP)?
Thresholds for different risk levels
Risk assessment method
Summary of project risks
Disruption management plan
27
What is a Nondisclosure Agreement (NDA)?
An agreement to not share confidential information
An agreement to share confidential information
An agreement involving money exchange
An agreement with unauthorized third parties
28
What is capacity planning?
Risk assessment method
Estimating future resource requirements
Disaster recovery plan
Summary of project risks
29
What does MTTR measure?
Risk assessment duration
Maximum downtime allowed
Average repair time
Time to failure
30
What is the maximum time for system restoration?
Recovery time objective
Work recovery time
Mean time between failures
Maximum tolerable downtime
31
What is a numerical method that is used to assess the probability and impact of risk and measure the impact?
Single loss expectancy
Quantitative risk analysis
Annualized rate of occurrence
Annualized loss expectancy
32
What is risk deterrence?
Deploying security controls
Accepting all risks
Increasing operational costs
Ignoring potential threats
33
True or false: Avoidance means continuing risky activities.
True
False
34
What is work recovery time?
Maximum downtime allowed
Risk assessment duration
Average repair time
Time for reintegration
35
What is the purpose of capacity planning?
Provide processing redundancy
Replicate data storage
Estimate resource requirements
Deal with disruptions
36
Is a Memorandum of Understanding (MOU) a legally binding agreement?
True
False
37
What is the purpose of a Nondisclosure Agreement (NDA)?
Legal cooperation
Vendor management
Share confidential information
Exchange of money
38
Risk reporting provides a detailed analysis of a project's current risks.
False
True
39
What is risk reporting?
Thresholds for different risk levels
Tolerable level of risk
Disaster recovery plan
Summary of project risks
40
What is the purpose of capacity planning?
Increase business productivity
Ensure data security
Manage resources effectively
Improve customer satisfaction
41
What is risk appetite?
Disaster recovery plan
Risk assessment method
Risk reporting summary
Tolerable level of risk
42
What is the total cost of a risk to an organization on an annual basis?
Annualized rate of occurrence
Single loss expectancy
Annualized loss expectancy
Quantitative risk analysis
43
What does RPO stand for?
Risk prevention operation
Resource planning overview
Recovery point objective
Real-time performance objective
44
True or false: Risk mitigation means increasing risk exposure.
False
True
45
What is a cold site?
A partially equipped backup facility
An empty backup facility
A fully equipped backup facility
A temporary backup facility
46
True or false: Risk acceptance means no monitoring is needed.
False
True
47
What does MTBF measure?
Risk likelihood
Maximum downtime
Time between failures
Time to repair
48
What is a mission essential function?
Optional business function
Non-essential operation
Critical activity not deferred
Routine task
49
What is a warm site?
Thresholds for different risk levels
Summary of project risks
Disaster recovery plan
Dormant alternate processing location
50
What is the total cost of a risk to an organization on an annual basis?
Single Loss Expectancy
Annualized Loss Expectancy
Risk Owner
Annualized Rate of Occurrence
