Because even the implementation of new technologies does not necessarily guarantee an organization can gain or maintain a competitive lead, the concept of __________ has emerged as organizations strive not to fall behind technologically.
competitive disadvantage
Treating risk begins with what?
an understanding of risk treatment strategies
Application of training and education among other approach elements is a common method of which risk treatment strategy?
defense
Each of the following is a recommendation from the FDIC when creating a successful SLA EXCEPT:
-determining objectives
-forecasting costs
-defining requirements
-setting measurements
forecasting costs
What risk treatment strategies describes an organization’s attempt to shift risk to other assets, other processes, or other organizations?
transference
What risk treatment strategies describes an organization’s efforts to reduce damage caused by a realized incident or disaster?
mitigation
Strategies to reestablish operations at the primary site after an adverse event threatens continuity of business operations are covered by which of the following plans in the mitigation control approach?
disaster recovery plan
The only use of the acceptance strategy that is recognized as valid by industry practices occurs when the organization has done all but which of the following?
-determined the level of risk posed to the information asset
-performed a thorough cost-benefit analysis
-determined that the costs to control the risk to an information asset are much lower than the benefit gained from the information asset
-assessed the probability of attack and the likelihood of a successful exploitation of a vulnerability
determined that the costs to control the risk to an information asset are much lower than the benefit gained from the information asset
What can be described as the quantity and nature of risk that organizations are willing to accept as they evaluate the trade-offs between perfect security and unlimited accessibility?
risk appetite
The goal of InfoSec is not to bring residual risk to __________; rather, it is to bring residual risk in line with an organization’s risk appetite.
zero
All of the following are rules of thumb for selecting a risk treatment strategy EXCEPT:
-When a vulnerability exists in an important asset, implement security controls to reduce the likelihood of a vulnerability being exploited.
-When the likelihood of an attack is high and the impact is great, outsource security efforts so that any resulting loss is fiscally someone else’s responsibility.
-When a vulnerability can be exploited, apply layered protections, architectural designs, and administrative controls to minimize the risk or prevent the occurrence of an attack.
-When the potential loss is substantial, apply design principles, architectural designs, and technical and nontechnical protections to limit the extent of the attack, thereby reducing the potential for loss.
When the likelihood of an attack is high and the impact is great, outsource security efforts so that any resulting loss is fiscally someone else’s responsibility.
Which of the following is NOT a valid rule of thumb on risk treatment strategy selection?
-When a vulnerability exists: Implement security controls to reduce the likelihood of a vulnerability being exploited.
-When a vulnerability can be exploited: Apply layered protections, architectural designs, and administrative controls to minimize the risk or prevent the occurrence of an attack.
-When the attacker’s potential gain is less than the costs of attack: Apply protections to decrease the attacker’s cost or reduce the attacker’s gain by using technical or operational controls.
-When the potential loss is substantial: Apply design principles, architectural designs, and technical and non-technical protections to limit the extent of the attack, thereby reducing the potential for loss.
When the attacker’s potential gain is less than the costs of attack: Apply protections to decrease the attacker’s cost or reduce the attacker’s gain by using technical or operational controls.
Once a control strategy has been selected and implemented, what should be done on an ongoing basis to determine its effectiveness and to estimate the remaining risk?
monitoring and measurement
When vulnerabilities have been controlled to the degree possible, what is the remaining risk that has not been completely removed, shifted, or planned for?
residual risk
The financial savings from using the defense risk treatment strategy to implement a control and eliminate the financial ramifications of an incident is known as __________.
cost avoidance
Also known as an economic feasibility study, the formal assessment and presentation of the economic expenditures needed for a particular security control, contrasted with its projected value to the organization, is known as __________.
cost-benefit analysis (CBA)
The process of assigning financial value or worth to each information asset is known as __________.
asset valuation
Which of the following affects the cost of a control?
-liability insurance
-CBA report
-asset resale
-maintenance
maintenance
Each of the following is an item that affects the cost of a particular risk treatment strategy EXCEPT:
-cost of maintenance (labor expense to verify and continually test, maintain, train, and update)
-cost of development or acquisition (hardware, software, and services)
-cost of implementation (installing, configuring, and testing hardware, software, and services)
-cost of IT operations (keeping systems operational during the period of treatment strategy development)
cost of IT operations (keeping systems operational during the period of treatment strategy development)
By multiplying the asset value by the exposure factor, you can calculate what?
single loss expectancy
Each of the following is a commonly used quantitative approach for asset valuation EXCEPT:
-value to owners
-value to competitors
-value retained from past maintenance
-value to adversaries
value to competitors
What is the result of subtracting the postcontrol annualized loss expectancy and the annualized cost of the safeguard from the precontrol annualized loss expectancy?
cost-benefit analysis
What determines how well a proposed treatment will address user acceptance and support, management acceptance and support, and the system’s compatibility with the requirements of the organization’s stakeholders?
operational feasibility
What determines acceptable practices based on consensus and relationships among the communities of interest?
political feasibility