Which of the following US Acts emphasized a "risk-based policy for cost-effective security" and makes mandatory for agency program officials, chief information officers, and inspectors general (IGs) to conduct annual reviews of the agency's information security program and report the results to Office of Management and Budget?
Correct Answer: A
Explanation/Reference: The Federal Information Security Management Act of 2002 ("FISMA", 44 U.S.C. 3541, et seq.) is a United States federal law enacted in 2002 as Title III of the E-Government Act of 2002 (Pub.L. 107-347, 116 Stat. 2899). The act recognized the importance of information security to the economic and national security interests of the United States. The act requires each federal agency to develop, document, and implement an agency-wide program to provide information security for the information and information systems that support the operations and assets of the agency, including those provided or managed by another agency, contractor, or other source. FISMA has brought attention within the federal government to cybersecurity and explicitly emphasized a "risk-based policy for cost-effective security". FISMA requires agency program officials, chief information officers, and inspectors general (IGs) to conduct annual reviews of the agency's information security program and report the results to Office of Management and Budget (OMB). OMB uses this data to assist in its oversight responsibilities and to prepare this annual report to Congress on agency compliance with the act. Answer C is incorrect. The Equal Credit Opportunity Act (ECOA) is a United States law (codified at 15 U S C 1691 et seq), enacted in 1974, that makes it unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction, on the basis of race, color, religion, national origin, sex, marital status, or age; to the fact that all or part of the applicant's income derives from a public assistance program; or to the fact that the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The law applies to any person who, in the ordinary course of business, regularly participates in a credit decision, including banks, retailers, bankcard companies, finance companies, and credit unions. Answer B is incorrect. The Electronic Communications Privacy Act of 1986 (ECPA Pub. L 99-508, Oct 21, 1986, 100 Stat. 1848, 18 U.S.C. 2510) was enacted by the United States Congress to extend government restrictions on wire taps from telephone calls to include transmissions of electronic data by computer. Specifically, ECPA was an amendment to Title III of the Omnibus Crime Control and Safe Streets Act of 1968 (the Wiretap Statute), which was primarily designed to prevent unauthorized government access to private electronic communications. The ECPA also added new provisions prohibiting access to stored electronic communications, i.e., the Stored Communications Act,18 U.S.C. 2701-2712. AnswerD is incorrect. The Fair Credit Reporting Act (FCRA) is an American federal law (codified at 15 U.S.C. 1681 et seq.) that regulates the collection, dissemination, and use of consumer information, including consumer credit information. Along with the Fair Debt Collection Practices Act (FDCPA), it forms the base of consumer credit rights in the United States. It was originally passed in 1970, and is enforced by the US Federal Trade Commission.
Question 107
You work as a project manager for BlueWell Inc. You are working on a project and the management wants a rapid and cost-effective means for establishing priorities for planning risk responses in your project. Which risk management process can satisfy management's objective for your project?
Correct Answer: A
Qualitative risk analysis is the best answer as it is a fast and low-cost approach to analyze the risk impact and its effect. It can promote certain risks onto risk response planning. Qualitative Risk Analysis uses the likelihood and impact of the identified risks in a fast and cost-effective manner. Qualitative Risk Analysis establishes a basis for a focused quantitative analysis or Risk Response Plan by evaluating the precedence of risks with a concern to impact on the project's scope, cost, schedule, and quality objectives. The qualitative risk analysis is conducted at any point in a project life cycle. The primary goal of qualitative risk analysis is to determine proportion of effect and theoretical response. The inputs to the Qualitative Risk Analysis process are: Organizational process assets Project Scope Statement Risk Management Plan Risk Register Answer B is incorrect. Historical information can be helpful in the qualitative risk analysis, but it is not the best answer for the question as historical information is not always available (consider new projects). Answer D is incorrect. Quantitative risk analysis is in-depth and often requires a schedule and budget for the analysis. Answer C is incorrect. Rolling wave planning is not a valid answer for risk analysis processes.
Question 108
Billy is the project manager of the HAR Project and is in month six of the project. The project is scheduled to last for 18 months. Management asks Billy how often the project team is participating in risk reassessment in this project. What should Billy tell management if he's following the best practices for risk management?
Correct Answer: D,E
is incorrect. Milestones are good times to do reviews, but risk management should happen frequently. Answer C is incorrect. This answer would only be correct if the project has a status meeting just once per month in the project. Answer B is incorrect. Risk management happens throughout the project as does project planning.
Question 109
SIMULATION Fill in the blank with an appropriate phrase. models address specifications, requirements, design, verification and validation, and maintenance activities.
Correct Answer:
Life cycle Explanation/Reference: Explanation: A life cycle model helps to provide an insight into the development process and emphasizes on the relationships among the different activities in this process. This model describes a structured approach to the development and adjustment process involved in producing and maintaining systems. The life cycle model addresses specifications, design, requirements, verification and validation, and maintenance activities.
Question 110
Which of the following are the initial steps required to perform a risk analysis process? Each correct answer represents a part of the solution. Choose three.
Correct Answer: B,C,D
Explanation/Reference: Explanation: The main steps of performing risk analysis are as follows: Estimate the potential losses to the assets by determining their value. Evaluate the potential threats to the assets. Establish the threats probability and regularity. Answer A is incorrect. Valuations of the critical assets in hard costs is one of the final steps taken after performing the risk analysis.
