Practice Quiz – Part 1

1. Which of the following is not a component of the risk management process?
   1. Risk identification
   2. Risk analysis
   3. Risk acceptance
   4. Risk elimination

Answer: D. Risk elimination.

Risk elimination is not a component of the risk management process because it is not always possible to eliminate all risks, and attempting to do so may not be feasible. The other options – risk identification, risk analysis, and risk acceptance – are all important components of the risk management process.

2. What is the purpose of a risk assessment?
   1. To identify vulnerabilities in the system
   2. To determine the impact of a potential risk event
   3. To evaluate the effectiveness of existing controls
   4. All of the above

Answer: D. All of the above.

The purpose of a risk assessment is to identify vulnerabilities in the system, determine the impact of a potential risk event, and evaluate the effectiveness of existing controls. By performing a risk assessment, organizations...