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Question: 3

Which of the following variables are associated with quantitative assessment of risks?

Each correct answer represents a complete solution. Choose three.

  1. Impact
  2. Probability
  3. Cost
  4. Frequency


Answer: D, B, and A

Explanation:

The measurable data used by this assessment include frequency, probability, impact, and effectiveness of countermeasures.

Risk assessment is a process of analyzing the identified risk, both quantitatively and qualitatively. Quantitative risk assessment requires calculations of two components of risk, the magnitude of the potential loss, and the probability that the loss will occur. While qualitatively risk assessment checks the severity of risk. The assessment attempts to determine the likelihood of the risk being realized and the impact of the risk on the operation. This provides several conclusions :

Probability-establishing the likelihood of occurrence and reoccurrence of specific risks, independently and combined.

Interdependencies-the relationship between different types of risk. For instance, one risk may have greater potential of occurring if another risk has occurred. Or probability or impact of a situation may increase with combined risk.

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Question: 4

Which of the following laws applies to organizations handling health care information?

  1. SOX
  2. GLBA
  3. HIPAA
  4. FISMA


Answer: C

Explanation:

HIPAA handles health care information of an organization.

The Health Insurance Portability and Accountability Act (HIPAA) were introduced in 1996. It ensures that health information data is protected. Before HIPAA, personal medical information was often available to anyone. Security to protect the data was lax, and the data was often misused.

If your organization handles health information, HIPAA applies. HIPAA defines health information as any data that is created or received by health care providers, health plans, public health authorities, employers, life insurers, schools or universities, and health care clearinghouses.

HIPAA defines any data that is related to the health of an individual, including past/present/future health, physical/mental health, and past/present/future payments for health care.

Creating a HIPAA compliance plan involves following phases:

  1. Assessment: An assessment helps in identifying whether organization is covered by HIPAIf it is, then further requirement is to identify what data is needed to protect.
  2. Risk analysis: A risk analysis helps to identify the risks. In this phase, analyzing method of handling data of organization is done.

    Plan creation: After identifying the risks, plan is created. This plan includes methods to reduce the risk.

    Plan implementation: In this plan is being implemented.

    Continuous monitoring: Security in depth requires continuous monitoring. Monitor regulations for changes. Monitor risks for changes.

    Monitor the plan to ensure it is still used.

    Assessment: Regular reviews are conducted to ensure that the organization remains in compliance.


    Answer: A is incorrect. SOX designed to hold executives and board members personally responsible for financial data.


    Answer: B is incorrect. GLBA is not used for handling health care information.


    Answer: D is incorrect. FISMA ensures protection of data of federal agencies.

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    Question: 4

    Which of the following laws applies to organizations handling health care information?

    1. SOX
    2. GLBA
    3. HIPAA
    4. FISMA


    Answer: C

    Explanation:

    HIPAA handles health care information of an organization.

    The Health Insurance Portability and Accountability Act (HIPAA) were introduced in 1996. It ensures that health information data is protected. Before HIPAA, personal medical information was often available to anyone. Security to protect the data was lax, and the data was often misused.

    If your organization handles health information, HIPAA applies. HIPAA defines health information as any data that is created or received by health care providers, health plans, public health authorities, employers, life insurers, schools or universities, and health care clearinghouses.

    HIPAA defines any data that is related to the health of an individual, including past/present/future health, physical/mental health, and past/present/future payments for health care.

    Creating a HIPAA compliance plan involves following phases:

    1. Assessment: An assessment helps in identifying whether organization is covered by HIPAIf it is, then further requirement is to identify what data is needed to protect.
    2. Risk analysis: A risk analysis helps to identify the risks. In this phase, analyzing method of handling data of organization is done.

      Plan creation: After identifying the risks, plan is created. This plan includes methods to reduce the risk.

      Plan implementation: In this plan is being implemented.

      Continuous monitoring: Security in depth requires continuous monitoring. Monitor regulations for changes. Monitor risks for changes.

      Monitor the plan to ensure it is still used.

      Assessment: Regular reviews are conducted to ensure that the organization remains in compliance.


      Answer: A is incorrect. SOX designed to hold executives and board members personally responsible for financial data.


      Answer: B is incorrect. GLBA is not used for handling health care information.


      Answer: D is incorrect. FISMA ensures protection of data of federal agencies.

      Question: 2

      Which of the following characteristics of baseline represents specification that is used to identify approved requirements in baseline modeling?

      1. Functional
      2. Allocated
      3. Product
      4. Developmental


      Answer: B

      Explanation:

      In baseline modeling, the baseline can characterize the functional, allocated, developmental, and product aspects of a solution. The allocated characteristic focus on the specifications which met the requirements approved by management.


      Answer: A, C, and D are incorrect. These characteristics do not represents specification that is used to identify approved requirements in baseline modeling.