FREE PSP Risk Management Questions and Answers
What is the primary purpose of conducting a risk assessment?
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Wrong!
Risk assessment helps in evaluating the severity and likelihood of risks, allowing for prioritization.
Which risk treatment strategy involves accepting the risk without taking any action to reduce its impact?
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Risk acceptance is a strategy where the organization decides to accept the risk as it is, without any intervention.
What is the purpose of a vulnerability assessment in risk management?
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A vulnerability assessment focuses on finding and documenting vulnerabilities in systems and processes.
Which of the following is the first step in the risk management process?
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Risk identification is the first step, where potential risks are identified and documented.
Which of the following is an example of risk transfer?
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Risk transfer involves shifting the risk to another party, often through insurance.