MIS416 EXAM 2
Technical
A logon identifier is a type of ____ control -Functional -Technical -Procedural -Access
-inventory
A risk _____ could be a simple listing of identified risks, some of which are already assessed and others of which are still in the process of being qualified. -plan -mitigation -inventory -assessments **key word: simple
To help management decide which recommendations to use
After you collect data on risk and recommendations, you include that information in a report, and you give that report to management. Why do you do this? (don't over think)
Esoteric
All of the following are KPI types except...?
Control
All of the following are risk treatments in different frameworks except? Identify Analyze Evaluate Control Treat Monitor
Ignore
All of the following are risk treatments in different frameworks except? Identify Monitor Ignore Evaluate Analyze
-Input validation
Another term for data range and reasonableness checks is ___ -Input checks -Input validation -Data validation -Reasonableness range
Create and enforce a written company policy against the use of thumb drives, and install a technical controls on the computers that will prevent the use of thumb drives.
As a top-level executive at your own company, you are worried that your employees may steal confidential data too easily by downloading and taking home data onto thumb drives. What is the best way to prevent this from happening?
-Unambiguous -Nonthreatening -Accurate -Relevant All but actionable. Contents cannot be perceived as "actionable" anyway
Clear and effective security assessment reporting requires that the contents of the report be perceived as which of the following? -Unambiguous -Nonthreatening -Actionable -Accurate -Relevant
SLE x ARO -AV x EF --> SLE -(Monetary reduction in risk exposure) - (Cost of safeguard) --> ROSI -(ALE) - (mALE) --> Savings
Formula for ALE? -SLE x ARO -AV x EF -(Monetary reduction in risk exposure) - (Cost of safeguard) -(ALE) - (mALE)
AV X EF Asset value x exposure factor
Formula for SLE? AV x ARO ARO x Savings AV x EF EF x mALE
ISMS
ISO/IEC 27001 provides implementation details on how to implement ISO/IEC 27002 and how to set up a(n) ____________________. *This was fill-in-blank on practice exam
2800 (idk)
If there are three possible outcomes to an event, one of which has a probability of 40% and will cost you $4000 and one of which has a probability of 30% and which will cost you $1500, and another with a probability of 30% that will cost you $2500, what is your expected loss? 2000 2900 2800 3000
Budget process
In addition to the data captured In your risk assessment template, exceptions and mitigation plans need to include the following information EXCEPT:
Control
In the COSO framework, ___________ activities include those policies and procedures that support management directives. *fill in blank
Procedural controls
Insurance, background checks, and security plans are all categories of ____________.
FAIR addresses a wider range of security and risk assessment issues than OCTAVE (OCTAVE is longer word so can address more. So this is the false statement bc FAIR cant be wider range)
It is important to understand that not all frameworks are created as equivalents. Let's look at the differences between FAIR and OCTAVE. Which statement is NOT true? (think about the length of OCTAVE vs FAIR)
-The framework can be easier to implement for your specific organization
Many firms and regulators refer to one or more Cybersecurity and/or risk assessment frameworks. However, firms sometimes create their own custom frameworks. Using a predefined framework has all of the following benefits except what? -The framework can be easier to implement for your specific organization -The framework has less initial work to set up and understand -The framework is sensible if your process is called into question by others -The framework unlikely to miss important key concepts
-Transfer
OCTAVE is one of the many frameworks available. Although heavy and labor intensive, it includes innovative approaches. One of the unique aspects of OCTAVE is the pools of mitigation approaches. The pools used include everything but? -Transfer -Accept -Mitigate -Mitigate or defer -Defer or accept
1. Determine requirement 2. Business case 3. Design and select metric system 4. Develop metrics 5. Test metrics 6. Launch metrics 7. Manage measurements 8. Mature measurements
Order the following for measuring and incorporating metrics. 1. Determine requirement 2. Business case 3. Design and select metric system 4. Develop metrics 5. Test metrics 6. Launch metrics 7. Manage measurements 8. Mature measurements
Awareness
Organizations employ risk monitoring tools, techniques and procedures to increase risk ______.
-Security measurement system
PRAGMATIC is a....? -Security measurement system -threat catalog -Government regulation -Risk assessment approach
1. Identify risk 2. Analyze risk 3. Rank risks 4. Treat risks 5. Monitor and review risks
Place the following in the correct order for risk management: 1. Identify risk 2. Analyze risk 3. Rank risks 4. Treat risks 5. Monitor and review risks
Share, transfer
Purchasing insurance is the primary way to ________ or _________ risk.
A) Verify compliance C) Determine the ongoing effectiveness of risk response measures D) Identify risk-impacting changes to organizational information systems and environments of operation *all but assess risk bc it's monitoring!!!!
Risk monitoring provides organizations the means to....? Select all that apply. A) Verify compliance B) Assess risk C) Determine the ongoing effectiveness of risk response measures D) Identify risk-impacting changes to organizational information systems and environments of operation
-Weakness of the security
Security risk decision variables include all of the following aspects EXCEPT? -Weakness of the security -Severity of the impact -Likelihood that a vulnerability will exploited -Value for the asset
-Verify compliance -Determine the ongoing effectiveness of risk response measures -Identify risks impacting changes to organization information systems
Select all of the following that risk monitoring allows organizations to do: -Avoid performing risk assessments -Verify compliance -Determine the ongoing effectiveness of risk response measures -Evaluate the costs and benefits of different security controls -Identify risks impacting changes to organization information systems
False *it's ALE not "loss" Countermeasure value = ALE previous - ALE now - Countermeasure cost
T/F: Loss Before Countermeasure - Loss After Countermeasure = Countermeasure Value
False *another analysis cannot be the output of an assessment ????
T/F: A Business Impact Analysis (BIA) is an output of the risk assessment process
True
T/F: A CBA helps determine if you should use a safeguard
True
T/F: A best practice for enabling a risk mitigation plan from your risk assessment is prioritizing countermeasures.
True
T/F: A decision is made to accept, avoid, transfer, or mitigate a risk is done in the risk evaluation stage.
True
T/F: A gap analysis report documents differences between what is mitigated and what is NOT mitigated, resulting in a gap in security GAPPPPP
True
T/F: A risk assessment ends with a report
True
T/F: A risk assessment provides a point-in-time report
True
T/F: A threshold KPI is significant when an index falls into a set range
True
T/F: Access controls testing verifies user rights and permissions
True action = quickly
T/F: Action plans are a necessary output of the risk assessment process so that recommendations can be acted upon quickly once the assessment is approved *key word: quickly
False
T/F: Asset valuation is a listing or grouping of assets under an assessment
False
T/F: COBIT worked with ISACA to develop ITGI
False
T/F: Change management ensures that similar systems have the same, or at least similar, configurations.
True
T/F: Ensuring that controls are effective is a best practice for risk mitigating security controls.
False
T/F: FAIR's BRAG relies uses qualitative assessment of many risk components using scales with value ranges
True
T/F: Formula for ROSI? = reduction in risk exposure / investment in countermeasures
True
T/F: Good risk reporting should include tables and figures to visually convey information to the audience.
False
T/F: If an in-place countermeasure needs to be upgraded or replaces, you should disable or remove the countermeasure until the new upgraded control can be installed in order to best reduce vulnerabilities
True health = good = true
T/F: In information security, KPIs measure the performance or health of information security *key word: health
False
T/F: In information security, a framework or security model customized to an organization, including implementation details is known as a floor plan
False
T/F: In the risk management process, it is not important to identify who should be responsible for the various processes or steps
False
T/F: Information technology infrastructure library provides guidance in the development and implementation of an organizational InfoSec governance structure
False
T/F: KPIs do not necessarily need to be tied to organizational strategy
True
T/F: KRIs measure how risky an activity is
false
T/F: Key Performance Indicators monitor risk appetite.
True
T/F: Logs need to be reviewed
True
T/F: One of the ways to identify controls is to identify critical business functions and critical business operations.
True
T/F: One or more KPIs can be included in a key performance index.
False
T/F: Organizations can only implement risk monitoring at risks management tiers 1 and 2
True
T/F: Planned controls are controls that have been approved but not installed yet
True
T/F: Risk avoidance may be the appropriate risk response when the identified risk exceeds the organizational risk tolerance.
true
T/F: Risk mitigation, or risk reduction, is the appropriate risk response for that portion of risk that cannot be accepted, avoided, shared, or transferred.
true
T/F: Risk monitoring provides organization with the means to verify compliance, determine the effectiveness of risk measures, and identify risk-impacting changes to organizational information systems and environments of operations.
True
T/F: Risk sharing shifts a portion of the responsibility or liability
False
T/F: Technical controls alone, when properly configured, can secure an IT environment
True five = 4 letters true = 4 letters
T/F: The ISO 27005 Standard for InfoSec Risk Management includes a FIVE-stage management methodology; among them are RISK TREATMENT and RISK COMMUNICATION *key word: five
True
T/F: The Information Technology Infrastructure Library (ITIL) defines the organizational structure and skill requirements of an IT organization and a set of standard operational procedures and practices that allow the organization to manage an IT operation and associated infrastructure.
True
T/F: The criterion most commonly used when evaluating a strategy to implement InfoSec controls is economic feasibility.
True
T/F: The first step of becoming ISO 27002 certified involved implementing best practices
False
T/F: The objective in risk assessment reporting is to assign blame to those who pose risks
False
T/F: The risk control strategy that attempts to eliminate or reduce any remaining uncontrolled risk through the application of additional controls and safeguards is the protect risk control strategy, also known as the avoidance strategy.
True
T/F: The risk control strategy that attempts to reduce the impact of the loss caused by a realized incident, disaster, or attack through effective contingency planning and preparation is known as the mitigation risk control strategy.
False (This is transference)
T/F: The risk control strategy that attempts to shift risk to other assets, other processes, or other organizations is known as the defense risk control strategy
True
T/F: The risk control strategy that eliminates all risk associated with an information asset by removing it from service is known as the termination risk control strategy.
False
T/F: The risk control strategy where the organization is willing to accept the current level of risk and makes a conscious decision to do nothing to protect an information asset from risk and to accept the outcome from any resulting exploitation is known as the termination risk control strategy
False
T/F: The standard format that must be followed when writing a vulnerability assessment report requires that the vulnerability assessment includes the following sections: table of contents, executive summary, methods, results, and recommendations
False
T/F: There is only one way to format and organize a risk assessment report
True
T/F: When converting a risk assessment to a risk mitigation plan, you may need to verify the risk elements.
False
T/F: You will never need to replace in-place controls
False
T/F: a KPx is a summary of one or more KRIs
True
T/F: change management is a process that ensures that changes are made only after a review process
False
T/F: configuration management is the same as change management
True
T/F: continuous monitoring is necessary because security work is never done
False
T/F: how your organization starts its risk mitigation process depends entirely on the type of organization you are working in
True
T/F: information security is a dynamic field because the risks fluctuate in a complex and, hence, not entirely predictable manner
True
T/F: key risk indicators should be tied to one or more key performance indexes
True
T/F: organizations can implement risk monitoring at any of the risk management tiers with different objectives and utility of information produced
True
T/F: physical access controls protect valuable assets by restricting physical access to them
True
T/F: the organizations level of security risk acceptance should be considered when selecting recommended safeguards
InfoSec governance
The COSO framework is built on eight interrelated components. Which of the following is NOT one of them?
Risk determination
The ISO 27005 Standard for Information Security Risk Management includes five stages including all but which of the following? -Risk treatment -Risk communication -Risk analytics -Risk determination
-Evaluating alternative strategies
The Microsoft Risk Management approach includes four phases. Which of the following is NOT one of them? -Measuring program effectiveness -Evaluating alternative strategies -Implementing controls -Conducting decision support
Transference
The ___ risk control strategy attempts to shift the risk to other assets, processes, or organizations.
Technical, procedural
The actual methods used to protect against data loss are __________ controls, but the program that identifies which data to protect is a ___________ control. Operational, technical Planned, procedural Technical, procedural
Action plan, final report
The final phase of the security risk assessment is to create a(n) ________ that addresses all security risks identified in the ___________.
a risk register
The final summary of risks, impacts, rationales and treatments is called what? -A risk catalog -A risk register -A risk index
Many - to-many
The relation between Controls and Threats is best described as? One - to-many Many - to-many Many-to-one
Ignore security risk
The security risk for each vulnerability found during the gathering phase can be addressed through all of the following EXCEPT:
-Staying on schedule and in budget
What are the 2 primary goal when implementing a risk mitigation plan?
principles, policies, and frameworks; processes; organizational structures; culture, ethics, and behavior; information; services, infrastructure, and applications; and people, skills, and competencies *just remember PRINCIPLES first and COMPETENCIES lat
What are the seven COBIT enablers?
-Quantitative valuation of safeguards
What does FAIR's BRAG rely on to build the risk management framework that is unlike many other risk management frameworks? -Qualitative assessment of many risk components -Subjective prioritization of controls -Risk analysis estimates -Quantitative valuation of safeguards
Operationally Critical Threat, Asset, and Vulnerability Evaluation *look for comma between 'threat' & 'asset'
What does OCTAVE stand for? -Operationally Critical Threat Asset, and Vulnerability Evaluation -Operationally Critical Threat, Asset, and Vulnerability Evaluation -Operations, Critical Threat, Asset, Valuation Efficiency
-Purchase insurance to assign or transfer the security risk to another party
What does the assign security risk help with? -Based on business mission and other factors, accept the identified security risk -Purchase insurance to assign or transfer the security risk to another party -All of the above -Reduce specific security risk
Findings, Recommendation cost and time frame, Cost benefit analysis
What information should you in your report for management when you present your recommendations?
Creating a new POAM (Plan of action and milestones)
What is NOT a best practice for enabling a risk mitigation plan from your risk assessment?
Data
What is NOT an example of an intangible value? -Data -Cost of gaining a customer -Future loss -Customer influence
Manual
What is NOT one of the implementation methods of controls? Mitigate Transfer Control Manual Decide
-CBAs
What is a significant part of the step of evaluating controls and determining which controls to implement? -DRPs -BCPs -CBAs -DMZs
Ensuring that security gaps are closed *you made the plan in the first place to close the gap
What is an important element of following up on a risk mitigation plan?
The appropriate risk response when the identified risk is within the organizational risk tolerance *acceptance = a = appropriate
What is risk acceptance? *hint: 'a'
-Categorize the information system and the information processed
What is the first step in applying the RMF?
To implement approved countermeasures *countermeasures will eliminate/mitigate risk
What is the purpose of a risk mitigation plan? *key word: mitigation
-Cost benefit analysis
What is the result of subtracting the post-control annualized loss expectancy and the ACS from the pre-control annualized loss expectancy? -Annualized rate of occurrence -Exposure factor -Single loss expectancy -Cost benefit analysis
A good executive summary
What portion of the risk assessment report is actually essential in ANY report? A table of contents A risk evaluation table A good executive summary
-A good executive summary
What portion of the risk assessment report is actually essential in ANY report? -Methodology -Supporting appendices -A good executive summary -A good conclusion
-Maintenance costs -Training costs -Operational costs -Purchase price -Installation charges
When Calculating Safeguard Costs we must typically be sure to include which of the following? (select all that apply) -Maintenance costs -Training costs -Operational costs -Purchase price -Education costs -Installation charges
-Personnel changes -Mergers -Supply chain changes The risks of competitors do not affect your own firm's risk levels.
Which of the following can affect the state of risks? -Personnel changes -Mergers -Supply chain changes -Risk levels of competitors
-Mitigation
Which of the following describes an organization's efforts to reduce damage caused by a realized incident or disaster? -Acceptance -Mitigation -Avoidance -Transference
Cost avoidance
Which of the following describes the financial savings from using the defense risk control strategy to implement a control and eliminate the financial ramifications of an incident? *key words: defense
Risk report memorandum
Which of the following is NOT a part of a risk report structure? Good executive summary Risk report memorandum Risk report summary
-Remove the measurement system
Which of the following is NOT a phase in the information security measurement system lifecycle? -Select security metrics -Mature the measurement system -Prepare a business case -Remove the measurement system -Launch the measurement system
Use to form information technology governance
Which of the following is NOT a purpose of ISO/IEC 27001:2005?
-Assess control impact
Which of the following is NOT a step in the FAIR risk management framework? -Assess control impact -Identify scenario components -Evaluate loss event frequency -Derive and articulate risk (Think about RA HW assignments)
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.
Which of the following is NOT a valid rule of thumb on risk control strategy selection?
Risk elimination
Which of the following is NOT a way organizations can respond to risk? -Risk mitigation -Risk transfer -Risk elimination -Risk acceptance
Identify key components
Which of the following is NOT risk evaluation step?
Ongoing threat assessments
Which of the following is a tier 1 risk monitoring activity?
-Training cost
Which of the following is a type of SAFEGUARD cost? -Selling cost -Orientation cost -Employment cost -Training cost *think about this!
Security awareness training is not completely effective for all users
Which of the following is a well-framed PHRASE used by the security risk assessment TEAM when risk reporting?
Meeting stakeholder needs
Which of the following is not one of the components of the COSO framework?
-Security model -Framework
Which of the following is/are a generic blueprint(s) offered by a service organization which must be flexible, scalable, robust and detailed? -Security model -Framework -SLA -Security standard
-Metrics, KPI, KPx, KRI, dashboard *P comes before R
Which of the following orders is consistent with the KPI, KPx and KRI formation? -KPI, KPx, KRI, dashboard -Metrics, KPI, KPx, KRI, dashboard -Metrics, KRI, KPx, KPI, dashboard
COBIT
Which of the following provides advice about the implementation of sound controls and control objectives for InfoSec, and was created by ISACA and the IT governance institute? -ISA -ISMS -IG -COBIT
Executive summary, base report, appendices
Which of the following represents the basic structure of a risk assessment report? Table of contents, base report, executive summary Executive summary, base report, appendices Executive summary, base report, conclusion
Phase 1
Which phase of the information security measurement system lifecycle involves gaining a solid appreciation of the organization information security-related information needs? -Phase 4 -Phase 1 -Phase 6 -Phase 1 and 2
360,000
XYZ Co. has decided that the loss event of a single incident on RESOURCE-A is $300,000 and it would result in 40% exposure factor. They also feel that this event could happen 3 times a year. What is the annual loss expectancy (ALE)?
-Create a risk mitigation plan
You have created a risk assessment, and management has approved it. What do you do next? -Start assessing risks for a different department -Define the scope of the risk assessment -Gather the stakeholders for a progress meeting -Create a risk mitigation plan
Analyzing
_____ monitoring results gives organizations the capability to maintain awareness of the risk being incurred, highlight the need to revisit other steps in the risk management process, and initiate process improvement activities as needed. *fill in blank
Controls
______ mitigate risks *Fill in the blank
True
t/f: in addition to deciding on appropriate monitoring activities across the risk management tiers, organizations also decide how monitoring is to be conducted (e.g., automated or manual approaches) and the frequency of monitoring activities.
-Account management controls
what type of controls ensures that account management is secure? -Account controls -Account management controls -Access controls -Access management controls
