SEC 320 Midterm Exam

SEC 320 Midterm Exam

1. Question : (TCO 1) The common categories of risk include

Student Answer: gambling, total loss, and risk transfer.

assets, risk transfer, and liability.

personal, property, and liability.

personal, property, and insurance.

2. Question : (TCO 2) The analyst should develop information for which of the following?

Student Answer: Assets, exposures, resources

Assets, insurance coverage, profits

Assets, losses, valuation

Assets, exposures, losses

3. Question : (TCO 1) Which of the following risks are generally considered?

Student Answer: Product liability

The liability of officers and directors

Crime losses

All of the above

4. Question : (TCO 3) When valuing assets, they should be broken down into these three categories:

Student Answer: owned, leased, and facilities losses.

direct, indirect, and deferred.

capital, expense, and budgeted.

None of the above

5. Question : (TCO 1) Probability is defined as

Student Answer: a mathematical guess.

the ratio of all probable outcomes to the number of attempts.

the ratio of the number of favorable cases to all possible cases.

the ratio of the number of unfavorable cases to all possible outcomes.

6. Question : (TCO 2) In operational risk management, an example of a process can include

Student Answer: intentional contamination of food.

serving food to customers.

the continuous evaluation of program effectiveness.

the growth of a pathogen.

7. Question : (TCO 2) How does the Vulnerability Self-Assessment Tool (VSAT) define vulnerability?

8. Question : (TCO 1) Differentiate the best way to handle the following risks:
high severity, high frequency; high severity, low frequency; medium severity, and a risk with a probability range of 4-6; low severity, high frequency; low severity, low frequency.

9. Question : (TCO 3) When deciding to insure assets, risks must substantially meet certain requirements in order to be insurable. Name four requirements.

10. Question : (TCO 2) Given an organization’s need to secure its assets and protect its personnel, for what purpose would it create a security survey?

11. Question : (TCO 1) The principles of probability are very important to understand when determining risk. With respect to the primary principles, choose three and explain how each helps to reduce risk.

12. Question : (TCO 2) Security surveys are extremely important to overall organizational security programs. Just as important is the ability to market one’s security program to organizational leadership so that adequate funding will be allocated to the program. Please discuss four techniques that one can use and explain why you chose them.

13. Question : (TCO 3) If a security program does not exist, what are the three most important aspects of a design that the systems engineer can use when developing the program and why are these the most important?