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SOC ISSUES > Semis 1 > Flashcards

Semis 1 Flashcards

1
Q

“a situation involving exposure to danger” according to Oxford Dictionary

A

RISK

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2
Q

“a probability or threat of damage, injury, loss, or any other negative occurrence that is caused by external or internal vulnerabilities, and that may be avoided through pre-emptive action.”

A

RISK in the business world

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3
Q

According to ___: “Risk is the combination of the danger of exposure and the impact = combination of (the likelihood of the threat being able to expose an element(s) of the system) and impact”.

A

Information Security Risk Management ISO/IEC 27001

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4
Q

According to Information Security Risk Management ISO/IEC 27001: “Risk is the ___ = combination of (the likelihood of the threat being able to expose an element(s) of the system) and impact”.

A

combination of the danger of exposure and the impact

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5
Q

A risk is a ___.

A

potential for a loss

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6
Q

It is a central consideration in decision-making, strategy, planning projects, and day-to-day operations.

A

risk

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7
Q

A software developer estimates an undertaking (task) will require 3 days that winds up requiring 60 days.

A

Planning a Budget

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8
Q

Unclear and conflicting interpretations of scope (coverage) cause a project to run over-budget.

A

Scope Creep

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9
Q

there are those in a company who passively resist the implementation of the new technology because it will make their jobs difficult to do.

A

Resistance to Change

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10
Q

combination or merger of technical parts fails requiring a redesign.

A

Integration

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11
Q

the lead person or those who are important to the success of the project suddenly quits.

A

Resources

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12
Q

a technology vendor fails to follow the terms of the contract resulted in downtime of a critical system.

A

Contract

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13
Q

an argument with a partner causes distractions, negative behavior, and work slowdown.

A

Disputes

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14
Q

a cloud platform upgrade is delayed 4 months, causing a crisis for a variety of software projects built on the new technology.

A

Dependencies

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15
Q

no one knows how to fix a machine breakdown because the only person who knows how to fix it on leave.

A

Skills

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16
Q

a platform redesign causes complaints due to usability issues.

A

Design

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17
Q

a security incident brings down the patient care and administrative system at a hospital, endangering patient care.

A

Information Security

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18
Q

the new technology acquired does not properly support the processes of the business causing the project to be declared a failure.

A

Technology

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19
Q

It is the potential of losses due to technology failures.

A

Technology Risk

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20
Q

Technology risk is any potential for ___ to upset ___ like ___ or ___.

A

technology failures; business; data security incidents; administration blackouts

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21
Q

Technology Risk Examples:

 An e-commerce website crashes resulting to ___.

 A technology project ___ and fails to meet goals set out in its business case.

 A security incident result in the ___ resulting in legal liability, reputational damage, and compliance issues.

 A trading algorithm makes a series of illogical trades that result in ___.

A

loss of revenue;
goes over budget;
theft of customer data;
losses

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22
Q

4 main causes of Technology Risk

A

 Activities of Individuals
 Systems and Technology Failures
 Failed Internal Processes
 External Events

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23
Q

activities that individuals either perform or neglect to perform that actually cause harm.

A

Activities of Individuals

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24
Q

These individuals can be insiders or outsiders; their activities can be incidental or deliberate, or the result of no action at all.

A

Activities of Individuals

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25
Q

reflects the unusual or unexpected functioning of technology. This can include equipment, software or integrated systems.

A

Systems and Technology Failures

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26
Q

the failure of internal processes to proceed on a case to case basis or expected. This comes from poor process design or execution, or faulty process controls.

A

Failed Internal Processes

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27
Q

events that are by and large (but not always) outside the business control; these include calamities, infrastructure failures, legal issues, business issues, and service dependencies.

A

External Events

28
Q

Seven Steps to Minimize Technological Risks

A

 Identify key risks, measure probability, and impact
 Analyze security threats
 Analyze risk of hardware and software failure
 Analyze outsourcing risks
 Identify controlled technology
 Measuring impact
 Rank potential risks and specify desired outcomes

29
Q

When the data is gathered, organizations recognize the vital areas of concern and measure, the likelihood of event and effect on their business activities. This helps the organization in the improvement of a relief (rescue) plan, should the business push ahead. Numerous organizations will enlist IT experts to help with the process.

A

Identify key risks, measure probability, and impact

30
Q

This can include outside dangers, for example, cyber-crime and cyber-terrorism, as well as internal dangers, like the distribution of restricted information. Organizations should audit (review) the security requirements related to the following areas:
 System access and controls
 Authentication
 Transaction authorization
 Data integrity
 Audit trail
 Security event tracking
 Exception handling
 System activity logging

A

Analyze security threats

31
Q

Organizations should consider what the risk of equipment and/or software failure involves for the venture and for overall activities. How stable is the equipment and software the organization uses or plans to use? What are the potential results of disappointment (failure)?

A

Analyze risk of hardware and software failure

32
Q

It is exceptionally normal for organizations to recruit outside organization to deal with system improvement and support, network organization, disaster recovery services, application hosting, and distributed (cloud) computing. It is crucial that organizations select vendors cautiously, to guarantee their feasibility, ability, dependability, track record, and financial position.

A

Analyze outsourcing risks

33
Q

Organizations buying and selling technology should explore what is controlled technology in their area. This information could be plans, manuals, models, etc. It very well may be written, printed, recorded, saved electronically, spoken or passed on some other way. Organizations should access services and publications in relevant jurisdictions to obtain more specific information about controlled technology and possible exclusions.

A

Identify controlled technology

34
Q

When the unfamiliar actual resource chances have been investigated, their potential effect should be estimated.

A

Measuring impact

35
Q

When the information is gathered and dissected, the organization arrives at a decision point. This choice cannot be made by considering technology risk alone. When all the risk factors have been analyzed, an organization must choose from the risk management options. These are:
 Risk avoidance
 Risk transfer
 Risk reduction
 Risk retention

A

Rank potential risks and specify desired outcomes

36
Q

An ___ must prepare a strategy based on the risk management option they have chosen

A

organization

37
Q

Types of Technology Risks

A

 Architecture Risk
 Availability
 Benefit Shortfall
 Budget Risk
 Change Control
 Data Loss
 Data Quality
 Design Debt
 Facility
 Infrastructure Risk
 Process Risk
 Security Threats

38
Q

IT structures that neglect to keep up with operations or projects.

A

Architecture Risk

39
Q

Downtime of IT services.

A

Availability

40
Q

Investments in IT that neglect to accomplish estimated profit from investment.

A

Benefit Shortfall

41
Q

IT programs, projects or operations groups that go over financial (budget) plan. Generally speaking, going under financial plan is viewed as a positive gamble.

A

Budget Risk

42
Q

An inability to control change to complex systems including practices like change management and configuration management.

A

Change Control

43
Q

Loss of data that cannot be re-established.

A

Data Loss

44
Q

Low quality data that causes loss due to factors, for example, process failures, compliance issues or declining consumer satisfaction.

A

Data Quality

45
Q

A bad quality plan that results in future expenses.

A

Design Debt

46
Q

Risks connected with offices, for example, data centers.

A

Facility

47
Q

Failures of essential services like networks, power and computing resources.

A

Infrastructure Risk

48
Q

The likelihood for processes to be disturbed by IT failures.

A

Process Risk

49
Q

Security dangers, for example, malware and programmers.

A

Security Threats

50
Q

Types of IT Dangers

A

 General IT Threats
 Criminal IT threats
 Natural disasters and IT systems

51
Q

General IT Threats:

A

o Hardware and Software Failure
o Malware
o Viruses
o Spam, Scams and Phishing
o Human Error

52
Q

such as power loss or data corruption

A

Hardware and Software Failure

53
Q

malicious software designed to disrupt computer operation

A

Malware

54
Q

computer code that can copy itself and spread from one computer to another, often disrupting computer operations

A

Viruses

55
Q

unsolicited email that seeks to fool people into revealing personal details or buying fraudulent goods

A

Spam, Scams and Phishing

56
Q

incorrect data processing, careless data disposal, or accidental opening of infected email attachments.

A

Human Error

57
Q

General threats to IT systems and data

A

General IT Threats

58
Q

Specific or targeted criminal threats to IT systems and data

A

Criminal IT threats

59
Q

Criminal IT threats:

A

o Hackers
o Fraud
o Passwords Theft
o Denial-of-Service
o Security Breaches
o Staff Dishonesty

60
Q

people who illegally break into computer systems

A

Hackers

61
Q

using a computer to alter data for illegal benefit

A

Fraud

62
Q

often a target for malicious hackers

A

Passwords Theft

63
Q

online attacks that prevent website access for authorised users

A

Denial-of-Service

64
Q

includes physical break-ins as well as online intrusion

A

Security Breaches

65
Q

theft of data or sensitive information, such as customer details

A

Staff Dishonesty

66
Q

Natural disasters such as fire, cyclone and floods also present risks to IT systems, data and infrastructure.

A

Natural disasters and IT systems

67
Q

Damage to buildings and computer hardware can result in loss or corruption of customer records/transactions.

A

Natural disasters and IT systems

SOC ISSUES (8 decks)

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