#1
What is the primary goal of risk management?
To identify, assess, and mitigate risks
ExplanationIdentify, assess, and mitigate risks.
#2
Which of the following is an example of a risk mitigation strategy?
Implementing security controls
ExplanationImplementing security controls.
#3
What is the purpose of a risk assessment?
To identify and evaluate potential risks to an organization
ExplanationTo identify and evaluate potential risks to an organization.
#4
What is the purpose of a risk register?
To track identified risks and their status
ExplanationTo track identified risks and their status.
#5
What does the acronym 'RACI' stand for in the context of risk management?
Responsible, Accountable, Consulted, Informed
ExplanationResponsible, Accountable, Consulted, Informed.
#6
What is the difference between risk avoidance and risk mitigation?
Risk avoidance aims to eliminate risks entirely, while risk mitigation aims to reduce the impact or likelihood of risks.
ExplanationRisk avoidance aims to eliminate risks entirely, while risk mitigation aims to reduce the impact or likelihood of risks.
#7
Which risk management technique involves transferring the financial consequences of a risk to another party?
Risk transfer
ExplanationTransferring the financial consequences of a risk to another party.