Which of the following statements accurately describe risk? Select all that apply.1 pointWebsite content or published research data are examples of low-risk assets.If compromised, a medium-risk asset may cause some damage to an organization's finances. If compromised, a high-risk asset is unlikely to cause financial damage. Organizations often rate risks at different levels: low, medium, and high.
Question
Which of the following statements accurately describe risk? Select all that apply.1 pointWebsite content or published research data are examples of low-risk assets.If compromised, a medium-risk asset may cause some damage to an organization's finances. If compromised, a high-risk asset is unlikely to cause financial damage. Organizations often rate risks at different levels: low, medium, and high.
Solution
The statements that accurately describe risk are:
-
"If compromised, a medium-risk asset may cause some damage to an organization's finances." This statement is accurate because medium-risk assets, if compromised, can indeed cause some financial damage to an organization. They are not as critical as high-risk assets, but their compromise can still have significant consequences.
-
"Organizations often rate risks at different levels: low, medium, and high." This statement is also accurate. Risk assessment is a common practice in organizations to identify and evaluate potential risks. These risks are often categorized into different levels such as low, medium, and high based on their potential impact on the organization.
The other two statements are not accurate:
-
"Website content or published research data are examples of low-risk assets." This statement is not necessarily accurate because the risk level of an asset is not determined by its type but by the potential impact of its compromise. Website content or published research data could be low, medium, or high-risk assets depending on the specific circumstances.
-
"If compromised, a high-risk asset is unlikely to cause financial damage." This statement is not accurate. High-risk assets are those that, if compromised, are likely to cause significant financial damage to an organization. That's why they are considered high risk.
Similar Questions
Which of the following statements accurately describe risk? Select all that apply.1 pointAnother way to think of risk is the likelihood of a threat occurring.If compromised, a low-risk asset would have a severe negative impact on an organization’s ongoing reputation.A high-risk asset is any information protected by regulations or laws.If compromised, a medium-risk asset may cause some damage to an organization's ongoing operations.9.Question 9
Which of the following business characteristics is not indicative of high inherent risk? A. Operating results that are highly sensitive to economic factors. B. Large likely misstatements detected in prior audits. C. Substantial turnover of management. D. A large amount of assets.
Which of the following statements about the ‘What is Risk?’ section of the lecture material are TRUE:There is risk whenever there is some uncertainty about outcomes.A situation in which the value of an asset can either remain the same or decreases over a period of time can be described as ‘Pure Risk’.Question 1AnswerNeither of the statements are true (both are false)Only statement 1 is trueOnly statement 2 is trueBoth statements are true (neither are false)
Which of the following statements best describes conduct risk? Select one: a. Deceptive marketing practices in breach of consumer laws. b. Deliberate impact to the environment in breach of environmental protection laws. c. Behaviour that unfairly favours one group of stakeholders over another. d. All of the other options.
Which of the following is NOT an example of a risk statement?Select answer from the options belowA single employee authorizing and paying invoices may result in fraudulent payments being disbursed to fake vendors.Adopting new technology may result in gaining competitive advantage and market share.Unauthorized access to the data center may result in physical theft of computer equipment.Delivery drivers not receiving road safety training may result in reputational damage due to accidents in the community.
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.