CMIT 425 UMGC Week 1 Quantitative & Qualitative Assessment Questions

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Instructions: Answer all questions in a single document. Then submit to theappropriate assignment folder. Each response to a single essay question should be about a half-page in length (about 150 words).

1. In this week’s readings, you learned about two methods of risk analysis:quantitative assessment and qualitative assessment. Explain the stepstaken to assess a risk from a quantitative perspective where monetary andnumeric values are assigned and discuss the formulas used to quantify risk.Then, explain the methods used to assess risk from a qualitativeperspective where intangible values are evaluated such as the seriousnessof the risk or ramifications to the reputation of the company.

2. Domain 1 introduced numerous security terms that are used in assessingrisk. Please define the terms vulnerability, threat, threat agent, risk,exposure and control. Then, describe the three different control types andgive examples for each.

3. After you’ve conducted your risk assessment and determined the amountof total and residual risk, you must decide how to handle it. Describe thefour basic ways of handling risk.

Please use the attached readings list as sources for answering the questions.