MIS 416 EXAM 2
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? A. Transfer B. Accept C. Mitigate or Defer D. Defer or Accept E. Mitigate
A
PRAGMATIC is a A. Security Measurement System B. Government Regulation C. Threat Catalog D. Cyber Security Framework E. Risk Assessment Approach
A
The relation between Controls and Threats is best described as? A. Many-to-Many B. One-to-One C> One-to-Many (One Threat can have many Controls) D. One-to-Many (One Control can address many Threats)
A
What is NOT one of the implementation methods of controls? Question options: A. manual B. physical C. technical D. procedural
A
What is the first step in applying the RMF? A. Categorize the information system and the information processed B. Select an initial set of baseline security controls C. Authorize information system operation based on risk determination D. Assess the security controls using appropriate assessment procedures
A
What is the purpose of a risk mitigation plan? A. to implement approved countermeasures B. to ensure compliance C. to bolster a risk assessment D. to reduce threats
A
Which of the following affects the cost of a control? A. maintenance B. CBA report C. asset resale D. liability insurance
A
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? A. cost avoidance B. feasibility analysis C. asset valuation D. cost-benefit analysis
A
Which of the following is NOT a phase in the information security measurement system lifecycle? A. Remove the measurement system B. Launch the measurement system C. Prepare a business case D. Mature the measurement system E. Select security metrics
A
Which of the following is NOT a purpose of ISO/IEC 27001:2005? A. Use to form information technology governance B. Implementation of business-enabling information security C. Use within an organization to ensure compliance with laws and regulations D. Use within an organization to formulate security requirements and objectives
A
Which of the following is NOT one of the components of the COSO framework? A. Meeting stakeholder needs B. Information and communication C. Communication and reporting D. Risk assessment
A
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? A. COBIT B. COSO C. ISO D. NIST
A
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)? A. $360,000 B. $120,000 C. $900,000 D. $50,000
A
Which of the following is a generic blueprint offered by a service organization which must be flexible, scalable, robust, and detailed? A. framework B. security model C. security standard D. SLA
A B
Clear and effective security risk assessment reporting requires that the contents of the report be perceived as (check all that apply) A. accurate B. relevant C. nonthreatening D. unambiguous E. actionable
A B C D
Which of the following can affect the state of risks? A. Personnel changes B.Mergers C. Risk levels of competitors D. Supply Chain change
A B D
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? A. OCTAVE is lower level, more methodological B. FAIR addresses a wider range of security and risk assessment issues than OCTAVE C. OCTAVE is more flexible and customizable D. FAIR is more quantitative and prescriptive
B
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? A. The framework is defensible if your process is called into question by others B. The framework can be easier to implement for your specific organization C. The framework has less initial work to set up and understand D.The framework unlikely to miss important key concepts
B
Security risk decision variables include all the following aspects EXCEPT A. Likelihood that a vulnerability will be exploited B. Weakness of the security C. Value of the asset D. Severity of the impact
B
The COSO framework is built on eight interrelated components. Which of the following is NOT one of them? A.Risk assessment B. InfoSec Governance C. Monitoring D. Risk response
B
The ISO 27005 Standard for Information Security Risk Management includes five stages including all but which of the following? A. risk assessment B. risk determination C. risk communication D. risk treatment
B
What is Risk Acceptance? A. None of the above B. The appropriate risk response when the identified risk is within the organizational risk tolerance. C. The acceptance of what the actual risk is D. How appropriate the risk can be to the situation
B
Which of the following is a Tier 1 risk monitoring activity? A. Analysis of new or current technologies B. Ongoing threat assessments C. Automated monitoring of standard configuration settings for IT products D. Penetration Testing E. Vulnerability scanning
B
Which of the following is a well-framed phrase used by the security risk assessment team when risk reporting? A. Group C would be better if they had more security awareness training B. Security awareness training is not completely effective for all users C. The users in group B are not doing what they are supposed to D. Administrators in group A failed to properly harden all servers in their area E. Bad user habits leave written passwords written in the clear around their workstations
B
Which of the following represents the basic structure of a risk assessment report? A. vulnerability analysis, appendices B. executive summary, base report, appendices C. base report, BIA, executive summary D. base report and appendices
B
Risk monitoring provides organizations the means to (click all that apply): A. assess risk B. determine the ongoing effectiveness of risk response measures C. identify risk-impacting changes to organizational information systems and environments of operation D. verify compliance
B C D
Select all of the following that risk monitoring allows organizations to do: A. Avoid performing risk assessments B. Verify compliance C. Determine the ongoing effectiveness of risk response measures D. Evaluate the costs and benefits of different security controls E. Identify risk-impacting changes to organization information systems
B C E
Once a control strategy has been selected and implemented, what should be done on an ongoing basis to determine their effectiveness and to estimate the remaining risk? A. review and reapplication B. evaluation and funding C. monitoring and measurement D. analysis and adjustment
C
SLE is A. AV + ALE B. AV / EF C. AV x EF D. AV - EF
C
The security risk for each vulnerability found during the gathering phase can be addressed through all of the following EXCEPT: A. Accept Security Risk B. Reduce Security Risk C. Ignore Security Risk D. Avoid Security Risk
C
What are the seven COBIT enablers? A. covering the enterprise end-to-end; processes; organizational structures; culture, ethics, and behavior; information; services, infrastructure, and applications; and applying a single integrated framework B. meeting stakeholder needs; processes; enabling a holistic approach; culture, ethics, and behavior; information; services, infrastructure, and applications; and people, skills, and competencies C. principles, policies, and frameworks; processes; organizational structures; culture, ethics, and behavior; information; services, infrastructure, and applications; and people, skills, and competencies D. meeting stakeholder needs; covering the enterprise end-to-end; applying a single integrated framework; enabling a holistic approach; information; separating governance from management; and people, skills, and competencies
C
What information should you include in your report for management when you present your recommendations? A. recommendation, justification, and procedure B. stakeholders, key stakeholders, and C-level stakeholders C. findings, recommendation cost and time frame, and cost-benefit analysis D. affinity diagram, POAM, and CBA
C
What is NOT an example of an intangible value? A. Customer influence B. Future loss C. Data D. Cost of gaining a consumer
C
What is a significant part of the step of evaluating controls and determining which controls to implement? A. DRPs B. DMZs C. CBAs D. BCPs
C
What type of control ensures that account management is secure? A. access management controls B. access controls C. account management controls D. account controls
C
Which of the following describes an organization's efforts to reduce damage caused by a realized incident or disaster? A. avoidance B. acceptance C. mitigation D. transference
C
Which of the following is NOT a factor for developing a risk mitigation/response plan? A. scaled to magnitude of risk B. cost effectiveness C. best practice in industry D. achievable
C
Which of the following is NOT part of a risk report structure? A.Base Report B. Appendices C. Risk Report Memorandum D. Exhibits E> Executive-Level Report
C
You have created a risk assessment, and management has approved it. What do you do next? A. Start assessing risks for a different department. B. Define the scope of the risk assessment. C. Create a risk mitigation plan. D. Gather the stakeholders for a progress meeting.
C
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 A. Assessment B. Plan C. Mitigation D. Inventory
D
All of the following are risk treatments in different frameworks except? A. Defer B. Transfer C. Accept D. Ignore E. Mitigate F. Avoid
D
All of the following are risk treatments in different frameworks except? A. Mitigate B. Avoid C. Transfer D. Control E. Accept F. Defer
D
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? A. 1600 B. 1200 C. 2350 D. 2800
D
Insurance, background checks, and security plans are all categories of ____________. A. procedures B. policy controls C. policies D. procedural controls
D
Purchasing insurance is the primary way to ______ or _______ risk. A. mitigate, share B. mitigate, accept C. transfer, accept D. share, transfer
D
Which of the following is NOT a way organizations can respond to risk? A. Risk Avoidance B. Risk Mitigation C. Risk Acceptance D. Risk Elimination E. Risk Transfer
D
A KPx is a summary of one or more KRIs. T/F
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. T/F
F
The risk control strategy were 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. T/F
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. T/F
F
When Calculating Safeguard Costs we must typically be sure to include which of the following? (select all that apply) A. Training Costs B. Installation Charges C. Purchase Price D. Maintenance Costs E. Operational Cost F. All of the above
F
You will never need to replace in-place controls. T/F
F
Logs need to be reviewed. T/F
T
One of the ways to identify controls is to identify critical business functions and critical business operations. T/F
T
One or more KPIs can be included in a key performance index. T/F
T
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
T
When converting a risk assessment to a risk mitigation plan, you may need to verify the risk elements. T/F
T
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. T/F
T
The ____________________ risk control strategy attempts to shift the risk to other assets, processes, or organizations
transference
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? A. 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. B. Instruct higher level employees to inform their employees that the use of a thumb drive is a fireable offense. C. Install a technical control to prevent the use of thumb drives. D. Hold a seminar that explains to employees why the use of thumb drives in the workplace is a security hazard.
A
In addition to the data captured in your risk assessment template, exceptions and mitigation plans need to include the following information EXCEPT: A. Budget Process B. Policy exceptions/risk acceptance approval and time frame C. Mitigation action items, long- and short-term D. Business justification for the risk
A
What portion of the risk assessment report is actually essential in ANY report? A. A Good Executive Summary B. Methodology C. Supporting Appendices D. A Good Conclusion
A
ALE is: A. SLE / ARO B. SLE x ARO C. SLE - ARO D. ARO * EF
B
After you collect data on risks and recommendations, you include that information in a report, and you give that report to management. Why do you do this? A. to help management assess how much of the risk was mitigated by the proposed solution B. to help management decide which recommendations to use C. to avoid several time-consuming presentations about each individual recommendation D. to inform management of the progress of the risk management task
B
The Microsoft Risk Management Approach includes four phases. Which of the following is NOT one of them? A. conducting decision support B. evaluating alternative strategies C. implementing controls D. measuring program effectiveness
B
What are the two primary goals when implementing a risk mitigation plan? A. being thorough and cautious B. staying on schedule and in budget C. avoiding surprises and staying on budget D. increasing security and maintaining easy access
B
What is NOT a best practice for enabling a risk mitigation plan from your risk assessment? A. Control the costs. B. Create a new POAM. C. Control the schedule. D. Stay within the scope.
B
Which phase of the information security measurement system lifecycle involves gaining a solid appreciation of the organization information security-related information needs? A. Phase 4 B. Phase 1 C. Phase 8 D. Phase 3
B
All of the following are KPI types except: A. Milestone B. Qualitative C. Esoteric D. Threshold
C
Another term for data range and reasonableness checks is ______________. A. input checks B. reasonableness range C. input validation D. data validation
C
What does FAIR's BRAG rely on to build the risk management framework that is unlike many other risk management frameworks? A. subjective prioritization of controls B. qualitative assessment of many risk components C. quantitative valuation of safeguards D. risk analysis estimates
C
What does OCTAVE stand for? A. Optional Tactical Active Variable Evaluation B. Optional Tension After Vulnerability Excessiveness C. Operationally Critical Threat, Asset, and Vulnerability Evaluation D. Operationally Critical Threat Asset and Variable Evaluation
C
The actual methods used to protect against data loss are __________ controls, but the program that identifies which data to protect is a ___________ control. A. manual, technical B. mechanical, procedural C. procedural, technical D. technical, procedural
D
The final summary of risks, impacts, rationales, and treatments is called what? A. A Risk Index B. A Threat-Control-Vulnerability-Impact Catalog C. A Risk Catalog D. A Risk Register
D
What is NOT one of the three primary objectives of controls? A. detect B. prevent C. correct D. eliminate
D
What is the result of subtracting the post-control annualized loss expectancy and the ACS from the pre-control annualized loss expectancy? A. annualized rate of occurrence B. single loss expectancy C. exposure factor D. cost-benefit analysis
D
Which of the following is NOT a step in the FAIR risk management framework? A. derive and articulate risk B. identify scenario components C. evaluate loss event frequency D. assess control impact
D
Which of the following is NOT a valid rule of thumb on risk control strategy selection? A. 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. B. 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. C. When a vulnerability exists: Implement security controls to reduce the likelihood of a vulnerability being exploited. D. 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.
D
Which of the following is NOT risk evaluation step? A. Determine risk exposure (including risk sensitivity) B. Determine severity of threat/vulnerability C. Determine residual risk level D. Identify the key components E. Determine likelihood of threat/vulnerability
D
Which of the following is a type of safeguard cost? A. Employment Cost B. Selling Cost C. Orientation Cost D. Training Cost
D
Which of the following orders is consistent with the KPI, KPx and KRI formation? A. metrics, KPx, KPR, KPI, Dashboard B. metrics, KPI, KPR, KPx, Dashboard C. metrics, KPR, KPI, KPx, Dashboard D. metrics, KPI, KPx, KRI, Dashboard
D
The final phase of the security risk assessment is to create a(n) ________ that addresses all security risks identified in the ___________. A. Action plan, data gathering phase B. Final report, Action plan C. Final report, risk assessment D. Risk report, risk assessment E. Action plan, final report
E
A business impact analysis (BIA) is an output of the risk assessment process. T/F
F
Asset valuation is a listing or grouping of assets under an assessment. T/F
F
COBIT worked with ISACA to develop ITGI. T/F
F
Change management ensures that similar systems have the same, or at least similar, configurations. T/F
F
Configuration management is the same as change management. T/F
F
FAIR's BRAG relies uses qualitative assessment of many risk components using scales with value ranges. T/F
F
If an in-place countermeasure needs to be upgraded or replaced, you should disable or remove the countermeasure until the new or upgraded control can be installed in order to best reduce vulnerabilities. T/F
F
In information security, a framework or security model customized to an organization, including implementation details is known as a floor plan. T/F
F
In the risk management process, it is not important to identify who should be responsible for the various processes or steps. T/F
F
Information Technology Infrastructure Library provides guidance in the development and implementation of an organizational InfoSec governance structure. T/F
F
KPIs do not necessarily need to be tied to organizational strategy. T/F
F
Key Performance Indicators monitor risk appetite. T/F
F
Loss Before Countermeasure - Loss After Countermeasure = Countermeasure Value T/F
F
Organizations can only implement risk monitoring at risk management tiers 1 and 2. T/F
F
Planned safeguards are the same as approved controls. T/F
F
Technical controls alone, when properly configured, can secure an IT environment. T/F
F
The objective in risk assessment reporting is to assign blame to those who pose risks. T/F
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. T/F
F
A CBA helps determine if you should use a safeguard. T/F
T
A best practice for enabling a risk mitigation plan from your risk assessment is prioritizing countermeasures. T/F
T
A best practice for enabling a risk mitigation plan from your risk assessment is staying within scope. T/F
T
A decision is made to accept, avoid, transfer, or mitigate a risk is done in the risk evaluation stage. T/F
T
A gap analysis report documents differences between what is mitigated and what is NOT mitigated, resulting in a gap in security. T/F
T
A risk assessment ends with a report. T/F
T
A risk assessment provides a point-in-time report. T/F
T
A threshold KPI is significant when an index falls into a set range. T/F
T
Access controls testing verifies user rights and permissions. T/F
T
Action plans are a necessary output of the risk assessment process so that recommendations can be acted upon quickly once the assessment is approved. T/F
T
Change management is a process that ensures that changes are made only after a review process. T/F
T
Continuous monitoring is necessary because security work is never done. T/F
T
Ensuring that controls are effective is a best practice for risk mitigating security controls. T/F
T
Good risk reporting should include tables and figures to visually convey information to the audience. T/F
T
In Information Security, KPIs measure the performance or health of Information Security. T/F
T
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. T/F
T
Information security is a dynamic field because the risks fluctuate in a complex and, hence, not entirely predictable manner. T/F
T
Key Risk Indicators should be tied to one or more Key Performance Indexes. T/F
T
Organizations can implement risk monitoring at any of the risk management tiers with different objectives and utility of information produced. T/F
T
Physical access controls protect valuable assets by restricting physical access to them. T/F
T
Place the following in the correct order for risk management. 1. Identify Risks 2. Analyze Risks 3. Rank Risks 4. Treat Risks 5. Monitor and review risks
T
Planned controls are controls that have been approved but not installed yet. T/F
T
ROSI = reduction in risk exposure / investment in countermeasures T/F
T
Risk mitigation, or risk reduction, is the appropriate risk response for that portion of risk that cannot be accepted, avoided, shared, or transferred. T/F
T
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. T/F
T
Risk sharing shifts a portion of the responsibility or liability. T/F
T
The ISO 27005 Standard for InfoSec Risk Management includes a five-stage management methodology; among them are risk treatment and risk communication. T/F
T
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. T/F
T
The criterion most commonly used when evaluating a strategy to implement InfoSec controls is economic feasibility. T/F
T
The first step of becoming ISO 27002 certified involves implementing best practices. T/F
T
The organizations level of security risk acceptance should be considered when selecting recommended safeguards. T/F
T
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. T/F
T
Organizations employ risk monitoring tools, techniques, and procedures to increase risk _____.
awareness
When a vulnerability (flaw or weakness) exists in an important asset, implement security controls to reduce the likelihood of a vulnerability being ___________.
exploited
KRIs measure how risky an activity is. T/F
T
The terms safeguard, countermeasure, and control can be used interchangeably. T/F
F
There is only one way to format and organize a risk assessment report. T/F
F
_____ 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.
analyzing
In the COSO framework, ___________ activities include those policies and procedures that support management directives.
control
