Which of the following best describes the risk-related roles and responsibilities of an organizational Business Unit (BU)? The BU management team________.
Answer :
owns the risk and is responsible for identifying, assessing and mitigating risk as well as reporting on that risk to the appropriate support functions and the board of directors.
Explanation :
The BU is responsible for owning the risk and its resulting actions. Risk owners have the responsibility of identifying, measuring, monitoring, controlling and reporting on risk to executive management as established by the corporate risk framework.
In the risk management process, a cost-benefit analysis is mainly performed______.
Answer :
as part of risk response planning.
Explanation :
In risk response, a range of controls will be identified that can mitigate risk; however, a cost-benefit analysis in this process will help identify the right controls that will address the risk at acceptable levels within the budge
An enterprise learns of a security breach at another entity using similar network technology. The most important action for a risk practitioner is to______.
Answer :
assess the likelihood of the incident occurring at the risk
practitioner’s enterprise
Risk scenarios are analyzed to determine the______.
Answer :
likelihood and impact
Which of the following is the most important reason for conducting periodic risk assessments?
