Multiple Choice Multiple Choice 41. The concept of competitive_ a. disadvantage c. failure refers to falling behind the competition. b. drawback d. shortcoming 42. Risk is the application of security mechanisms to reduce the risks to an organization's data and information systems. a. avoidance b. treatment c. identification d. assessment 43. Risk is the identification, analysis, and evaluation of risk as initial parts of risk management. b. assessment a. management c. identification d. control 44. The risk management (RM) organization's RM efforts. a. assessment c. acceptance 45. Risk b. framework d. treatment is the overall structure of the strategic planning and design for the entirety of the defines the quantity and nature of risk that organizations are willing to accept as they evaluate the trade- offs between perfect security and unlimited accessibility. a. benefit c. acceptance 46. Risk b. appetite d. residual is the assessment of the amount of risk an organization is willing to accept for a particular information asset, typically synthesized into the organization's overall risk appetite. a. benefit c. tolerance b. baseline d. residual 47. The first phase of the risk management process is a. risk identification c. risk control 48. Understanding the b. forming the risk management planning team d. risk evaluation context means understanding the impact of elements such as the business environment, the legal/regulatory/compliance environment, as well as the threat environment. a. external b. design c. internal d. risk evaluation