Question

In: Operations Management

49. A new regulation for safeguarding information processed by a specific type of transaction has come...

49. A new regulation for safeguarding information processed by a specific type of transaction has come to the attention of an IT manager. The manager should FIRST:

  1. Meet with stakeholders to decide how to comply.
  2. Analyze the key risk in the compliance process.
  3. Update the existing security/ privacy policy.
  4. Assess whether existing controls meet the regulation.

The correct answer is ___

50. Operational risk assessment techniques should be used by risk/ control professionals to:

  1. Maximize the return on investment (ROI)
  2. Provide documentation for auditors and regulators.
  3. Justify the selection of risk mitigation strategies.
  4. Quantify the risk that would otherwise by subjective.

    The correct answer is ___

51. Which of the following is minimized when acceptable risk is achieved?

  1. Transferred risk
  2. Control risk
  3. Residual risk
  4. Inherent risk

    The correct answer is ___

52. Which of the following is MOST essential for a risk management program to be effective?

  1. New risk detection
  2. A sound risk baseline
  3. Accurate risk reporting
  4. A flexible security budget

    The correct answer is ___

Solutions

Expert Solution

Answer 49: Option D

Explanation: The manager should first check whether the existing control meets the new regulation which has been launched recently.

Answer 50: Option D

Explanation: The operational risk management techniques are used to obtain the quantified value of risk which would be subjectively treated.

Answer 51: Option D

Explanation: By meeting the acceptable risk levels, the inherent risk is minimized.

Answer 52: Option C

Explanation: For conducting an effective risk management program, accurate risk reporting is essential.


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