Categorizing residual risk is most important to which of the following risk response techniques?
Answer Options
Risk mitigation
Risk acceptance
Risk avoidance
Risk transfer
Correct Answer: B
Explanation
Risk acceptance is a strategy of recognizing, identifying, and accepting a risk that is suf- ficiently unlikely or that has such limited impact that a corrective control is not warranted. Risk mitigation is when a company implements controls to reduce vulnerabilities or weak- nesses in a system. It can also reduce the impact of a threat. Risk avoidance is the removal of the vulnerability that can increase a particular risk so that it is avoided altogether. Risk transfer is the act of moving the risk to other organizations like insurance providers or hosting companies who assume the responsibility for recovery and restoration or by acquiring insurance to cover the costs emerging from a risk.