Question

53. After a risk assessment study, a bank with global operations decided to continue doing business in certain regions of the world where identity theft is widespread. To MOST effectively deal with the risk, the business should:

A. Implement monitoring techniques to detect and react to potential fraud.

B. Make the customer liable for losses if the customer fails to follow the bank’s advice.

C. Increase its customer awareness efforts in those regions.

D. Outsource credit card processing to a third party.

The correct answer is ___

54. Which of the following BEST indicates a successful risk management practice?

1. Control risk is tied to business units.
2. Overall risk is quantified.
3. Residual risk is minimized to acceptable level.
4. Inherent risk is eliminated.

The correct answer is ___

55. Which type of risk assessment methods involves conducting interviews and using anonymous questionnaires by subject matter experts (SMEs)?

1. Quantitative
2. Probabilistic
3. Monte Carlo
4. Qualitative

The correct answer is ___

56. Why should you not charge your smart phone on the computer’s USB port?

1. It takes longer to charge
2. You can forget to take your phone when leaving
3. USB port is also used for data egress by malicious application
4. It is violation of many company’s policies.

The correct answer is C

Answer 1

Answer 53: Option A

Explanation: While working in an economy in which the identity theft is widely spread, the firm should implement a high level of monitoring techniques so as to detect and implement reaction towards a fraud.

Answer 54: Option C

Explanation: For having a sound business risk management practice, the residual risk should be lowered to an acceptable level.

Answer 55: Option D

Explanation: In a qualitative method, the interview and questionnaire method is used for risk assessment.               

Answer 56: Option C

Explanation: We should not charge our phone on the computer USB port as it would be exposed to malicious applications which may harm the data.