Security Risk Assessment

5 minutes 5 Questions

Security Risk Assessment involves identifying, evaluating, and prioritizing potential risks and vulnerabilities in the software development life cycle. It helps determine the appropriate security measures needed to mitigate these risks. The process typically involves identifying assets, threats, an…

Guide: Security Risk Assessment in the Software Development Life Cycle (CISSP)

A Security Risk Assessment is an essential process in the Software Development Life cycle. Its primary objective is to lead to the discovery of any potential threats or vulnerabilities present within the system.

Importance: Implementing a Security Risk Assessment ensures that the security risks in software products are identified, analyzed and managed appropriately. This process aids in minimizing any potential damage that could occur due to undiscovered vulnerabilities, and eventually, it results in the successful development of a secure software product.

What it is: In essence, a Security Risk Assessment is a procedure that involves the identification and assessment of potential risks which could adversely affect a system's security and integrity. This involves evaluating the potential impacts of threats and vulnerabilities, in order to provide a basis for decision-making and risk-reducing actions.

How it works: The Security Risk Assessment follows a practical approach starting with the collection of all relevant system information. This includes identifying crucial assets, recognizing potential threats, and uncovering system vulnerabilities. After accumulating all the essential details, they are then analyzed to determine the level of impact and likelihood of the identified risks.

How to answer questions in exams: Understand the basic concepts about Security Risk Assessment including the steps involved in the process and its outcomes. Also, remember that the main goal of a Security Risk Assessment is to mitigate risk and not to completely eliminate it.

Exam Tip: When answering CISSP exam questions on Security Risk Assessment, focus on the goal to continually manage risk through the assessment process. Display a deep understanding of the importance, steps, and results of a Security Risk Assessment. Here's a tip – many exam questions might stress on the point that the risk cannot be eliminated but only can be reduced to an acceptable level.

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Question 1

You are performing a security risk assessment for a financial institution that processes highly sensitive customer information. Which of the following risks should receive the highest priority to be mitigated?

Incomplete employee training material Occasional false positive alerts Outdated software versions Unauthorized access to customer data

Correct Answer: Unauthorized access to customer data

Unauthorized access to customer data would have the most significant impact and thus should be the highest priority. The other risks are important, but they don't have the same magnitude of potential damage.

Question 2

Your organization just completed a security risk assessment. Which of the following should be the next step?

Update the company's policies and procedures Change the priority level of low-risk vulnerabilities Develop a risk management plan Conduct a comprehensive training program

Correct Answer: Develop a risk management plan

After completing the security risk assessment, developing a risk management plan is the appropriate step to address identified risks. Other actions may be taken after developing and implementing the risk management plan.

Question 3

A critical vulnerability has been discovered in your organization's web application. Which of the following actions should you take as part of a security risk assessment?

Inform the board of directors about the issue Initiate a full internal investigation Evaluate the potential impact and likelihood of exploitation Immediately install the latest patches

Correct Answer: Evaluate the potential impact and likelihood of exploitation

Evaluating the potential impact and likelihood of exploitation is the correct answer, as it helps to make an informed decision and prioritize remediation efforts. Other actions may be helpful depending on the situation, but they don't provide the necessary risk assessment.

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