IS372-Chapter1

What is Risk as defined in the textbook

The likelihood or probability that something unexpected is going to occur

What is Risk Management as defined in the textbook

The practice of identifying, assessing, controlling or mitigating risks

What is a threat as defined in the book

Any activity that represents a possible danger

What is a Vulnerability as defined in the book

A weakness 

What is an asset as defined in the book

Anything of value worth protecting

What are business functions

Activities a business performs to sell products or services

What are the 3 parts of the CIA triangle

Confidentiality, Integrity, Availability

What is confidentiality in reference to the CIA triangle

Preventing unauthorized disclosure of information

What is Integrity in reference to the CIA triangle

Ensuring any data or an IT system is not modified

What is Availability in reference to the CIA triangle

Ensuring data and services are available when needed

What is the term for when someone takes advantage of a vulnerability

Exploit

Assets can have both ____ and ____ value

tangible, intangible

Tangible is ____ objects while intangible is _____

physical, online/ not physical

______ are often the weakest link when it comes to security threats

Personnel

What is the difference between a intentional and accidental threat 

Intentional would be a malicious employee, wheras accidental could be a faulty application or natural disaster

What is the formula for value of an Asset

Risk = Threat x Vulnerability x Asset value

What’s the difference between Preventative and Detective controls

Preventative are meant to stop someone from entering wheras detective are meant to alert when someone gets in

What are risk management controls

Controls or actions put into place to reduce a weakness or potential loss

A loss of client confidence or public trust is an example of a loss of ____

Goodwill

A ___ is used to reduce a vulnerability

control

What are 3 things that can be done to manage a risk

Accept it, Transfer it, Avoid it

A company decided to reduce the losses of a risk by purchasing insurance which is known as risk ______

transfer

What is residual risk

The remaining risk after controls have been put in place

What is the primary reason to avoid risk 

The impact of the risk outweighs the benefit the asset