Analogy Risk Management & Mitigation 2

Question 1

FIREWALL is to NETWORK as LEVEE is to:

Accepted Answer

Flood

Answer

A firewall protects a network from intrusions just as a levee protects land from flood damage.

Question 2

INSURANCE is to FINANCIAL LOSS as SUNSCREEN is to:

Accepted Answer

Sunburn

Answer

Insurance mitigates financial loss just as sunscreen mitigates sunburn from UV exposure.

Question 3

RISK TRANSFER is to INSURANCE POLICY as RISK AVOIDANCE is to:

Accepted Answer

Canceling a project

Answer

Risk transfer shifts risk to another party via insurance, while risk avoidance eliminates the risk entirely by canceling the activity.

Question 4

CONTINGENCY PLAN is to UNEXPECTED EVENT as RECIPE is to:

Accepted Answer

Cooking a meal

Answer

A contingency plan guides action when an unexpected event occurs, just as a recipe guides the process of cooking a meal.

Question 5

PROBABILITY is to LIKELIHOOD as IMPACT is to:

Accepted Answer

Consequence

Answer

Probability refers to how likely a risk is to occur, while impact refers to the consequence or severity if it does occur.

Analogy Practice Test