Question 1

What is the formula used to calculate risk?

Accepted Answer

Risk = Likelihood (Probability) × Impact. This formula helps organizations quantify and prioritize risks based on how likely a threat is to occur and how severe the resulting damage would be.

Question 2

What is the difference between a threat and a vulnerability in risk management?

Accepted Answer

A threat is any potential event or actor that could cause harm, while a vulnerability is a weakness that could be exploited by a threat. Together, they contribute to overall risk.

Question 3

What does 'risk appetite' mean in an organizational context?

Accepted Answer

Risk appetite is the amount and type of risk an organization is willing to accept in pursuit of its objectives. It guides decisions about which risks to tolerate versus which to mitigate.

Question 4

What is residual risk?

Accepted Answer

Residual risk is the risk that remains after security controls and mitigations have been applied. It represents the leftover exposure an organization accepts after implementing countermeasures.

Question 5

What is the difference between quantitative and qualitative risk assessment?

Accepted Answer

Quantitative risk assessment assigns numerical/monetary values to risks (e.g., ALE), while qualitative risk assessment uses descriptive ratings like High, Medium, or Low based on judgment and experience.

Risk Management – CompTIA Security+

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