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Question 1 of 10 · Basic risk concepts
How does FAIR define risk?
Risk is probable frequency times probable magnitude of future loss.
Question 2 of 10 · Risk taxonomy and terminology
What is Probability of Action?
Probability of Action is the chance an agent acts once in contact.
Question 3 of 10 · Risk analysis results
What supports the credibility of FAIR results?
Transparent inputs and assumptions make results credible.
Question 4 of 10 · The risk analysis process
What should the analyst do when data is limited?
Calibrated estimation with ranges handles limited data.
Question 5 of 10 · Measurement and estimation
Why use most likely values in a distribution?
The most likely value is the central estimate in a PERT.
Question 6 of 10 · Basic risk concepts
How does FAIR define risk?
FAIR defines risk as the probable frequency and probable magnitude of future loss, not a qualitative rating.
Question 7 of 10 · Risk taxonomy and terminology
Vulnerability decomposes into which two factors?
Vulnerability compares Threat Capability with Resistance Strength.
Question 8 of 10 · Risk analysis results
Why tie results to loss forms?
Tying results to loss forms shows where and how to reduce loss.
Question 9 of 10 · The risk analysis process
What should the analyst estimate for Loss Magnitude?
Loss Magnitude estimation covers primary and secondary loss.
Question 10 of 10 · Measurement and estimation
What is the effect of using ranges on a risk result?
Ranged inputs produce a distribution of outcomes.
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Basic risk concepts
Risk taxonomy and terminology
Risk analysis results
The risk analysis process
Measurement and estimation