To Determine If the Risk to an Information Asset Is

question 11

True/False

To determine if the risk to an information asset is acceptable or not, you estimate the expected loss the organization will incur if the risk is exploited.

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Definitions:

Financial Resources

The funds that are available to a business for spending in the form of cash, liquid securities, and credit lines.

Impact/Likelihood Matrix

A tool used in risk management to evaluate risks based on the likelihood of their occurrence and the impact if they do occur.

Manage Risk

The systematic process of identifying, analyzing, and responding to potential risks to minimize their impact on an organization.

Contingency Plan

A strategy designed to take into account future events or circumstances that could affect the operation of a business, ensuring preparedness for unexpected challenges.