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Exam Code: CPCM-001

Exam Name: Certified Problem and Change Manager (CPCM)

Certification Provider: GAQM

Related Certification: Certified Problem and Change Manager (CPCM)

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A. Data owner
B. Chief Information Security Officer (CISO)
C. Data architect
D. Chief Information Officer (CIO)
Answer: A

In terms or Risk Analysis and dealing with risk, which of the four common ways listed below seek to eliminate involvement with the risk being evaluated?
A. Transference
B. Avoidance
C. Mitigation
D. Acceptance
Answer: B
There are four common ways for addressing risk: Avoidance, Acceptance,
Transference and Mitigation.
In this case, when we eliminate risk or just avoid it altogether it is called Risk Avoidance.
No surprise there but this answer is distinct from the others.
Risk avoidance is the practice of coming up with alternatives so that the risk in question is not realized. For example, have you ever heard a friend, or parents of a friend, complain about the costs of insuring an underage driver? How about the risks that many of these children face as they become mobile? Some of these families will decide that the child in question will not be allowed to drive the family car, but will rather wait until he or she is of legal age (i.e., 18 years of age) before committing to owning, insuring, and driving a motor vehicle. In this case, the family has chosen to avoid the risks (and any associated benefits) associated with an underage driver, such as poor driving performance or the cost of insurance for the child. Although this choice may be available for some situations, it is not available for all. Imagine a global retailer who, knowing the risks associated with doing business on the Internet, decides to avoid the practice. This decision will likely cost the company a significant amount of its revenue (if, indeed, the company has products or services that consumers wish to purchase). In addition, the decision may require the company to build or lease a site in each of the locations, globally, for which it wishes to continue business. This could have a catastrophic effect on the company's ability to continue business operations.
Examine the incorrect answers below to see the differences.
The following answers are incorrect:
Acceptance: This means that the risk is identified and understand and evaluated to be acceptable in order to conduct business operations. It is incorrect because you are accepting that the risk is present and conducting business anyhow. Avoidance is where you just don't undertake the risk at all and conduct business without the identified risk.
Transference: When we transfer risk, we pay someone else to undertake the risk on our behalf so that we may conduct operations, benefit from the risk but don't undertake the risky operation ourselves. This is not the same as avoiding risk so this is incorrect.
Mitigation: Mitigating risk means you accept it AND work around the risk to benefit from it.
A good example could be a locked down web server or firewall. You benefit from the service they provide but mitigate risks involved by technical measures.
The following reference(s) was used to create this question:
Gregg, Michael; Haines, Billy (2012-02-16). CASP: CompTIA Advanced Security
Practitioner Study Guide Authorized Courseware: Exam CAS-001 (p. 217-218). Wiley.
Kindle Edition.
Hernandez CISSP, Steven (2012-12-21). Official (ISC)2 Guide to the CISSP CBK, Third
Edition ((ISC)2 Press) (Kindle Locations 10171-10182). Auerbach Publications. Kindle

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