CCP CCP Risk Management & Assessment

Question 1

What is the standard formula for calculating risk in cybersecurity?

Accepted Answer

Threat × Vulnerability × Asset Value

Answer

Threat + Vulnerability

Answer

Asset Value / Threat

Answer

Vulnerability - Threat

Question 2

Which risk treatment option involves shifting financial impact to a third party such as an insurer?

Accepted Answer

Risk transference

Answer

Risk acceptance

Answer

Risk avoidance

Answer

Risk mitigation

Question 3

What is residual risk?

Accepted Answer

Risk remaining after security controls have been applied

Answer

Risk completely eliminated by controls

Answer

The original risk before any assessment

Answer

Risk associated only with third-party vendors

Question 4

A qualitative risk assessment is best characterized by the use of:

Accepted Answer

Descriptive ratings such as High, Medium, and Low

Answer

Exact monetary values

Answer

Statistical probability tables

Answer

Precise numerical formulas

Question 5

What does Single Loss Expectancy (SLE) represent?

Accepted Answer

The expected monetary loss from one occurrence of a specific risk event

Answer

The annual cost of all security controls

Answer

The total value of all organizational assets

Answer

The probability of a threat occurring within one year

Question 6

Which document formally authorizes a system to operate while acknowledging its residual risks?

Accepted Answer

Authorization to Operate (ATO)

Answer

Security Assessment Report (SAR)

Answer

Risk Management Plan

Answer

System Security Plan (SSP)