Question 1

Each component of the security system should be periodically evaluated and changes made before they are needed.

Accepted Answer

False

Question 2

An attack tree visually represents the goal of an attack on some asset as the trunk of the tree and possible/probable ways to accomplish the attack as branches.

Accepted Answer

This statement accurately describes what an attack tree represents. The statement accurately describes an attack tree.

Question 3

Alternatives for handling risk include all of the following except

Accepted Answer

The alternatives for handling risk are risk elimination, risk reduction, and risk spreading. Risk speculation is not a valid alternative for handling risk, as it involves accepting risk in hopes of achieving a greater reward. The three alternatives for handling risk are risk elimination, risk reduction, and risk spreading, but risk speculation is not a viable alternative for handling risk as it involves taking on additional risks to potentially gain a higher reward.

Question 4

Anticipating, recognizing and analyzing risks is known as

Accepted Answer

Anticipating, recognizing and analyzing risks is a key component of risk management. Disaster management and emergency management both deal with responding to events that have already occurred, while terrorism management specifically focuses on preventing and responding to acts of terrorism. Anticipating, recognizing and analyzing risks falls under the domain of risk management, which involves identifying potential threats, assessing the likelihood and impact of those threats, and implementing strategies to mitigate or manage risks. Disaster management, emergency management, and terrorism management all focus on specific types of risks or incidents, but are all parts of a broader risk management framework.

Question 5

The professional security manager must devote as much time to quantifying and qualifying security initiatives as any other department within an organization to justify resource allocations and expenditures.

Accepted Answer

This statement is true. Justifying resource allocations and expenditures is crucial in ensuring that security initiatives are effective and efficient. The security manager must use metrics and data to demonstrate the value of the security program to the organization. The statement is true. The professional security manager needs to be able to demonstrate the value and effectiveness of the security initiatives in order to secure the necessary resources and budget from senior management. This requires careful quantification and qualification of the initiatives, just as any other department in the organization must do to justify their activities.

Question 6

The security survey (audit) is not a critical objective, on-site analysis of the total security system.

Accepted Answer

The security survey (audit) is indeed a critical objective for evaluating the effectiveness of a security system. It involves a comprehensive on-site analysis of the security measures in place, including physical security, personnel policies, and information security protocols. The audit helps identify vulnerabilities and areas for improvement in the security system. The security survey (audit) is a critical objective in order to conduct an on-site analysis of the total security system. It helps to identify vulnerabilities, risks, and areas of improvement in the security measures.

Question 7

The probability that something will occur uses the formula P= f/n.This formula means:

Accepted Answer

The formula P = f/n represents the probability (P) as the ratio of the actual occurrences of the event (f) to the number of circumstances or trials (n).

Question 8

Which type of risk involves risk with the potential for both benefits and losses?

Accepted Answer

Dynamic risk involves the potential for both benefits and losses, as it exists in situations with uncertain outcomes that could have positive or negative impacts. Pure risk, on the other hand, involves only the possibility of losses, while realistic risk and acceptable risk are not commonly used terms in the field of risk management. Dynamic risk involves both the potential for benefits and losses, as it arises due to changes in the environment, market, or other factors beyond the control of the individual or organization. Pure risk only involves the potential for losses, realistic risk is not a commonly recognized term in risk management, and acceptable risk refers to a level of risk that is considered tolerable or manageable.

Question 9

The following guidelines provide a basic guideline to help security respond to incidents quickly and efficiently.

Accepted Answer

All of the listed options are important to follow for an efficient response to security incidents. Protecting life and safety should always be the top priority, followed by containing the damage to prevent it from spreading further. Once the situation is under control, it is essential to assess the extent of the damage and identify any further action that may be necessary. All three options are necessary for an effective response to incidents. Protecting life and safety is always the top priority in any situation, followed by containing the damage to prevent it from spreading further. Once the situation is under control, it is important to assess the extent of the damage in order to determine the appropriate next steps.

Question 10

Qualitative risk assessment can typically start to show significant results within a few days.

Accepted Answer

Qualitative risk assessment typically requires a longer period of time to gather sufficient information and analyze potential risks. It may take several weeks or months to see significant results from a qualitative risk assessment. Qualitative risk assessment requires substantial research and analysis, and it may take several weeks or months to produce useful results. Immediate outcomes are seldom probable.

Question 11

The security survey (audit) is a(n) __________________ analysis of the total security system.

Accepted Answer

The security survey (audit) is a critical analysis of the total security system, as it aims to identify vulnerabilities and weaknesses in the system. It is also an objective analysis, as it is conducted by a professional who is not biased towards the organization or its security measures. Additionally, the survey is typically conducted on-site to gather firsthand information about the security system. Therefore, all of the above options are correct.

Question 12

Organizations that do not have a comprehensive risk management program in place leave themselves open to disgruntled employees and customers as well as to potential civil liability.

Accepted Answer

Without a risk management program, organizations cannot proactively identify and mitigate potential risks, leaving themselves vulnerable to negative consequences such as legal action or reputational damage. Without a comprehensive risk management program, organizations are more vulnerable to risks and may face legal and financial consequences.

Question 13

Preventing loss through risk management always includes terrorism analysis.

Accepted Answer

Risk management encompasses a wide range of potential losses, including financial, operational, reputational, and more. Terrorism analysis is a specific aspect that might be included in risk management for certain industries or locations, but it is not a mandatory component for all risk management strategies.

Question 14

Which type of risk involves the potential for injury, damage or loss with no possible benefits?

Accepted Answer

Pure risk involves the potential for loss or damage with no possibility of gain or benefit. This type of risk includes events such as natural disasters, accidents, or unexpected illnesses. Pure risk involves the possibility of loss or harm without any potential for gain or benefit. This includes risks such as natural disasters, accidents, and illnesses. Dynamic risk involves changes in a situation that can create new risks, realistic risk involves an assessment of the likelihood and impact of potential risks, and acceptable risk involves finding a balance between risk and reward.

Question 15

Four major types of hazards are:

Accepted Answer

The four major types of hazards are physical hazards (e.g. accidents and natural disasters), moral hazards (e.g. dishonesty and fraud), morale hazards (e.g. low motivation and low job satisfaction), and legal hazards (e.g. non-compliance with laws and regulations). Option C correctly identifies all four types of hazards. Options A, B, and D are incorrect as they include at least one incorrect or irrelevant term. The four major types of hazards are physical, moral, morale, and legal. Physical hazards are related to the environment and can cause harm to people or property, such as natural disasters or workplace accidents. Moral hazards refer to situations where individuals or organizations have incentives to take risks because they are not fully responsible for the consequences. Morale hazards are related to human behavior and can have a negative impact on workplace culture and productivity. Legal hazards are related to the potential for legal action being taken against an individual or organization due to negligence or other violations of the law.

Question 16

A fundamental risk could be rapid inflation, natural disasters, or even war.

Accepted Answer

These are all examples of fundamental risks that can affect economies and markets. Rapid inflation can erode purchasing power, natural disasters can disrupt supply chains and cause physical damage, and war can lead to economic instability and geopolitical tensions. These are all examples of fundamental risks that could impact the economy and financial markets. Rapid inflation could erode purchasing power, natural disasters can disrupt supply chains, and war can cause economic and political instability.

Question 17

Preventing loss through risk management includes all of the following, except

Accepted Answer

Media involvement is not a standard component of risk management. The other options, risk analysis, policy formulation, and specification of a protection plan, are necessary elements of effective risk management. Media involvement is not a standard element of risk management. The other options, including risk analysis, policy formulation, and specification of a protection plan, are all critical components of a risk management strategy.

Question 18

Factors to consider in risk analysis are

Accepted Answer

All of the above factors should be taken into consideration when conducting a risk analysis. Vulnerability refers to weaknesses or gaps in security measures, probability refers to the likelihood of a threat occurring, and criticality refers to the potential impact or consequences of a successful attack. By analyzing all of these factors, organizations can better assess and prioritize their security risks. All of the above factors, vulnerability, probability, and criticality, should be considered in risk analysis. Vulnerability refers to the weakness or susceptibility of a system or asset to a potential attack. Probability refers to the likelihood of a threat or attack occurring. Criticality refers to the impact or consequences of a successful attack. By considering all of these factors, a more comprehensive assessment of the risks can be conducted, allowing for better risk management decisions.

Question 19

Each component of the security system does not need to be periodically evaluated (audited) and changed as needed.

Accepted Answer

Each component of the security system should be periodically evaluated and changed as needed to ensure the effectiveness and adequacy of the security controls. Failure to do so may result in vulnerabilities being present and exploited by attackers. Each component of a security system needs to be periodically evaluated (audited) and changed as needed to ensure that it stays up-to-date and effective in addressing potential threats and vulnerabilities.

Question 20

Strategic risk is the uncertainty regarding an organization's financial goals and objectives.

Accepted Answer

The answer of Strategic risk is the uncertainty regarding an...

Quiz 5: Risk Management the Core of Private Security