CompTIA CASP+ Risk Management Test 3 with 100% Correct answers
1. What is the primary purpose of conducting a risk assessment?
• A) To determine the cost of security measures
• B) To identify and prioritize risks
• C) To eliminate all security threats
• Answer: B) To identify and prioritize risks
• Explanation: The main purpose of a risk assessment is to identify potential risks and prioritize
them based on their impact and likelihood, allowing organizations to allocate resources
effectively.
2. Which risk management process involves determining the likelihood and
impact of a risk?
• A) Risk avoidance
• B) Risk analysis
• C) Risk acceptance
• Answer: B) Risk analysis
• Explanation: Risk analysis involves evaluating both the likelihood of a risk occurring and its
potential impact on the organization to inform decision-making.
3. What does a "threat assessment" specifically focus on?
• A) The financial impact of risks
• B) Identifying potential threats to assets
• C) Employee training needs
• Answer: B) Identifying potential threats to assets
• Explanation: A threat assessment focuses on identifying potential threats that could exploit
vulnerabilities in an organization's assets.
4. Which of the following is an example of risk avoidance?
• A) Implementing a new firewall
• B) Choosing not to store sensitive data
• C) Purchasing insurance
• Answer: B) Choosing not to store sensitive data
• Explanation: Risk avoidance involves eliminating exposure to a risk by opting not to engage in
the activity that creates the risk.
5. What is the purpose of risk prioritization in risk management?
• A) To assess employee performance
• B) To allocate resources based on risk severity
• C) To eliminate all risks
, • Answer: B) To allocate resources based on risk severity
• Explanation: Risk prioritization helps organizations focus on the most significant risks first,
ensuring that resources are used effectively to mitigate those risks.
6. What is the role of a risk management framework?
• A) To eliminate financial losses
• B) To provide a structured approach for managing risks
• C) To create new business opportunities
• Answer: B) To provide a structured approach for managing risks
• Explanation: A risk management framework outlines the processes, policies, and practices that
organizations can use to identify, assess, and mitigate risks.
7. Which of the following is a qualitative risk assessment method?
• A) Risk scoring
• B) Expert judgment
• C) Financial modeling
• Answer: B) Expert judgment
• Explanation: Qualitative risk assessments often rely on the insights of experts to evaluate risks
based on experience and subjective criteria.
8. What does "residual risk" refer to?
• A) The risk that remains after mitigation strategies are applied
• B) The initial level of risk before any controls
• C) The risk transferred to third parties
• Answer: A) The risk that remains after mitigation strategies are applied
• Explanation: Residual risk is the level of risk that remains after all mitigation efforts and controls
have been implemented.
9. What is the purpose of a Business Impact Analysis (BIA)?
• A) To reduce costs
• B) To identify and evaluate the effects of potential disruptions
• C) To analyze employee performance
• Answer: B) To identify and evaluate the effects of potential disruptions
• Explanation: A BIA assesses the impact of various disruptions on critical business functions,
helping organizations plan for continuity.
10. Which of the following strategies involves transferring risk to another entity?
• A) Risk avoidance
• B) Risk mitigation
• C) Risk transfer
• Answer: C) Risk transfer
1. What is the primary purpose of conducting a risk assessment?
• A) To determine the cost of security measures
• B) To identify and prioritize risks
• C) To eliminate all security threats
• Answer: B) To identify and prioritize risks
• Explanation: The main purpose of a risk assessment is to identify potential risks and prioritize
them based on their impact and likelihood, allowing organizations to allocate resources
effectively.
2. Which risk management process involves determining the likelihood and
impact of a risk?
• A) Risk avoidance
• B) Risk analysis
• C) Risk acceptance
• Answer: B) Risk analysis
• Explanation: Risk analysis involves evaluating both the likelihood of a risk occurring and its
potential impact on the organization to inform decision-making.
3. What does a "threat assessment" specifically focus on?
• A) The financial impact of risks
• B) Identifying potential threats to assets
• C) Employee training needs
• Answer: B) Identifying potential threats to assets
• Explanation: A threat assessment focuses on identifying potential threats that could exploit
vulnerabilities in an organization's assets.
4. Which of the following is an example of risk avoidance?
• A) Implementing a new firewall
• B) Choosing not to store sensitive data
• C) Purchasing insurance
• Answer: B) Choosing not to store sensitive data
• Explanation: Risk avoidance involves eliminating exposure to a risk by opting not to engage in
the activity that creates the risk.
5. What is the purpose of risk prioritization in risk management?
• A) To assess employee performance
• B) To allocate resources based on risk severity
• C) To eliminate all risks
, • Answer: B) To allocate resources based on risk severity
• Explanation: Risk prioritization helps organizations focus on the most significant risks first,
ensuring that resources are used effectively to mitigate those risks.
6. What is the role of a risk management framework?
• A) To eliminate financial losses
• B) To provide a structured approach for managing risks
• C) To create new business opportunities
• Answer: B) To provide a structured approach for managing risks
• Explanation: A risk management framework outlines the processes, policies, and practices that
organizations can use to identify, assess, and mitigate risks.
7. Which of the following is a qualitative risk assessment method?
• A) Risk scoring
• B) Expert judgment
• C) Financial modeling
• Answer: B) Expert judgment
• Explanation: Qualitative risk assessments often rely on the insights of experts to evaluate risks
based on experience and subjective criteria.
8. What does "residual risk" refer to?
• A) The risk that remains after mitigation strategies are applied
• B) The initial level of risk before any controls
• C) The risk transferred to third parties
• Answer: A) The risk that remains after mitigation strategies are applied
• Explanation: Residual risk is the level of risk that remains after all mitigation efforts and controls
have been implemented.
9. What is the purpose of a Business Impact Analysis (BIA)?
• A) To reduce costs
• B) To identify and evaluate the effects of potential disruptions
• C) To analyze employee performance
• Answer: B) To identify and evaluate the effects of potential disruptions
• Explanation: A BIA assesses the impact of various disruptions on critical business functions,
helping organizations plan for continuity.
10. Which of the following strategies involves transferring risk to another entity?
• A) Risk avoidance
• B) Risk mitigation
• C) Risk transfer
• Answer: C) Risk transfer
