Incorrect Answers: A, B, D: Productivity, quality and customer service are used for evaluating critical service factor of any particular project.

Explanation: A review of the parameter settings will provide a good basis for comparison of the actual configuration to the security policy and will provide reliable audit evidence documentation.
Incorrect Answers:
A: While interviewing the firewall administrator may provide a good process overview, it does not reliably confirm that the firewall configuration complies with the enterprise’s security policy.
B: While procedures may provide a good understanding of how the firewall is supposed to be managed, they do not reliably confirm that the firewall configuration complies with the enterprise’s security policy.
C: While reviewing the device’s log file for recent attacks may provide indirect evidence about the fact that logging is enabled, it does not reliably confirm that the firewall configuration complies with the enterprise’s security policy.

Explanation: This is categorized as a Business case to be made because the project cost is very large. The response to be implemented requires quite large investment. Therefore it comes under business case to be made.
Incorrect Answers:
A: It addresses costly risk response to a low risk. But here the response is less costly than that of business case to be made.
B: Quick win is very effective and efficient response that addresses medium to high risk. But in this the response does not require large investments.
D: This is not risk response prioritization option, instead it is a type of risk that happen with the several of the enterprise’s business partners within a very short time frame.

Explanation: As regular audits can spot gaps in information security compliance, periodic audits can ensure that outsourced service provider comply with the enterprise’s information security policy.
Incorrect Answers:
A: Penetration testing can identify security vulnerability, but cannot ensure information compliance.
B: Service level monitoring can only identify operational issues in the enterprise’s operational environment. It does not play any role in ensuring that outsourced service provider complies with the enterprise’s information security policy.
C: Training can increase user awareness of the information security policy, but is less effective than periodic auditing.

Explanation: Vulnerabilities represent characteristics of information resources that may be exploited by a threat. The given scenario describes such a situation, hence it is a vulnerability.
Incorrect Answers:
A: Probabilities represent the likelihood of the occurrence of a threat, and this scenario does not describe a probability.
B: Threats are circumstances or events with the potential to cause harm to information resources. This scenario does not describe a threat.
D: Impacts represent the outcome or result of a threat exploiting a vulnerability. The stem does not describe an impact.

Explanation: The risk register is updated at the end of the plan risk response process with the information that was discovered during the process. The response plans are recorded in the risk register. Project management plan consisting of WBS, schedule baseline and cost performance baseline should be updated. After planning risk response process, there may be requirement of updating project documents like technical documentation and assumptions, documented in the project scope statement. If risk response strategies include responses such as transference or sharing, it may be necessary to purchase services or items from third parties. Contracts for those services can be prepared and discussed with the appropriate parties.
Incorrect Answers:
B: Controls are implemented in the latter stage of risk response process. It is not immediate task after the planning of risk response process, as updating of several documents is done first.
The purpose of the Plan Risk Responses process is to develop risk responses for those risks with the highest threat to or best opportunity for the project objectives. The Plan Risk Responses process has four outputs:

• Risk register updates
• Risk-related contract decisions
• Project management plan updates
• Project document updates

Explanation:
An enterprise’s risk management capability maturity level is 3 when:

• Risk management is viewed as a business issue, and both the drawbacks and benefits of risk are recognized.
• There is a selected leader for risk management, engaged with the enterprise risk committee, across the enterprise.
• The business knows how IT fits in the enterprise risk universe and the risk portfolio view.
• Local tolerances drive the enterprise risk tolerance.
• Risk management activities are being aligned across the enterprise.
• Formal risk categories are identified and described in clear terms.
• Situations and scenarios are included in risk awareness training beyond specific policy and structures and promote a common language for communicating risk.
• Defined requirements exist for a centralized inventory of risk issues.
• Workflow tools are used to accelerate risk issues and track decisions.

Incorrect Answers:
C: Enterprise having risk management capability maturity level 5 requires continuous improvement of risk management skills, based on clearly defined personal and enterprise goals.

Explanation:
A quantitative risk assessment quantifies risk in terms of numbers such as dollar values. This involves gathering data and then entering it into standard formulas. The results can help in identifying the priority of risks. These results are also used to determine the effectiveness of controls. Some of the terms associated with quantitative risk assessments are:

• Single loss expectancy (SLE)-It refers to the total loss expected from a single incident. This incident can occur when vulnerability is being exploited by threat. The loss is expressed as a dollar value such as $1,000. It includes the value of data, software, and hardware. SLE = Asset value * Exposure factor
• Annual rate of occurrence (ARO)-It refers to the number of times expected for an incident to occur in a year. If an incident occurred twice a month in the past year, the ARO is 24. Assuming nothing changes, it is likely that it will occur 24 times next year. Annual loss expectancy (ALE)-It is the expected loss for a year. ALE is calculated by multiplying SLE with ARO. Because SLE is a given in a dollar value, ALE is also given in a dollar value. For example, if the SLE is $1,000 and the ARO is 24, the ALE is $24,000.
• ALE = SLE * ARO Safeguard value-This is the cost of a control. Controls are used to mitigate risk. For example, antivirus software of an average cost of $50 for each computer. If there are 50 computers, the safeguard value is $2,500. A, B, C: These are wrong formulas and are not used in quantitative risk assessment.

Explanation:
This is an example of exploiting a positive risk – a by-product of a project is an excellent example of exploiting a risk. Exploit response is one of the strategies to negate risks or threats that appear in a project. This strategy may be selected for risks with positive impacts where the organization wishes to ensure that the opportunity is realized. Exploiting a risk event provides opportunities for positive impact on a project. Assigning more talented resources to the project to reduce the time to completion is an example of exploit response.
Incorrect Answers:
A: Enhancing is a positive risk response that describes actions taken to increase the odds of a risk event to happen.
B: This is an example of a positive risk, but positive is not a risk response.
C: Opportunistic is not a valid risk response.

Explanation:
Exposure Factor represents the impact of the risk over the asset, or percentage of asset lost. For example, if the Asset Value is reduced to two third, the exposure factor value is 0.66. Therefore, when the asset is completely lost, the Exposure Factor is 1.0.
Incorrect Answers: B, C, D: These are not the values of exposure factor for zero assets.