In order to protect against fraud in electronic fund transfers (EFT), the
Message Authentication Code (MAC), ANSI X9.9, was developed. The MAC is a check value, which is derived from the contents of the message itself, that is sensitive to the bit changes in a message. It is similar to a Cyclic Redundancy Check (CRC).
The aim of message authentication in computer and communication systems is to verify that he message comes from its claimed originator and that it has not been altered in transmission. It is particularly needed for EFT Electronic Funds Transfer). The protection mechanism is generation of a Message Authentication Code (MAC), attached to the message, which can be recalculated by the receiver and will reveal any alteration in transit.
One standard method is described in (ANSI, X9.9). Message authentication mechanisms an also be used to achieve non-repudiation of messages.
The Secure Electronic Transaction (SET) was developed by a consortium including
MasterCard and VISA as a means of preventing fraud from occurring during electronic payment.
The Secure Hash Standard (SHS), NIST FIPS 180, available at
http://www.itl.nist.gov/fipspubs/fip180-1.htm, specifies the Secure Hash Algorithm (SHA-1).
Source:
KRUTZ, Ronald L. & VINES, Russel D., The CISSP Prep Guide: Mastering the Ten
Domains of Computer Security, John Wiley & Sons, 2001, Chapter 4: Cryptography (page
170)
also see:
http://luizfirmino.blogspot.com/2011/04/message-authentication-code-mac.html and
http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.22.2312&rep=rep1&type=pdf

The Common Criteria for Information Technology Security Evaluation (abbreviated as Common Criteria or CC) is an international standard (ISO/IEC 15408) for computer security certification. It is currently in version 3.1 revision 4.
Common Criteria is a framework in which computer system users can specify their security functional and assurance requirements (SFRs and SARs respectively) through the use of Protection Profiles (PPs), vendors can then implement and/or make claims about the security attributes of their products, and testing laboratories can evaluate the products to determine if they actually meet the claims. In other words, Common Criteria provides assurance that the process of specification, implementation and evaluation of a computer security product has been conducted in a rigorous and standard and repeatable manner at a level that is commensurate with the target environment for use.
Common Criteria is used as the basis for a Government driven certification scheme and typically evaluations are conducted for the use of Federal Government agencies and critical infrastructure.
The following answers are incorrect:
All of the other choices were incorrect and not common scheme being used today. CC originated out of three standards:
ITSEC - The European standard, developed in the early 1990s by France, Germany, the Netherlands and the UK. It too was a unification of earlier work, such as the two UK approaches (the CESG UK Evaluation Scheme aimed at the defence/intelligence market and the DTI Green Book aimed at commercial use), and was adopted by some other countries, e.g. Australia.
CTCPEC - The Canadian standard followed from the US DoD standard, but avoided several problems and was used jointly by evaluators from both the U.S. and Canada. The CTCPEC standard was first published in May 1993.
TCSEC - The United States Department of Defense DoD 5200.28 Std, called the Orange Book and parts of the Rainbow Series. The Orange Book originated from Computer Security work including the Ware Report, done by the National Security Agency and the National Bureau of Standards (the NBS eventually became NIST) in the late 1970s and early 1980s. The central thesis of the Orange Book follows from the work done by Dave Bell and Len LaPadula for a set of protection mechanisms.
CC was produced by unifying these pre-existing standards, predominantly so that companies selling computer products for the government market (mainly for Defence or Intelligence use) would only need to have them evaluated against one set of standards. The CC was developed by the governments of Canada, France, Germany, the Netherlands, the UK, and the U.S.
The following reference(s) were/was used to create this question: http://en.wikipedia.org/wiki/Common_Criteria

The ss (simple security) property of the Bell-LaPadula access control model states that reading of information by a subject at a lower sensitivity level from an object at a higher sensitivity level is not permitted (no read up).
Source: KRUTZ, Ronald L. & VINES, Russel D., The CISSP Prep Guide: Mastering the Ten Domains of Computer Security, John Wiley & Sons, 2001, Chapter 5: Security Architectures and Models (page 202).

An algorithm that turns messages or text into a fixed string of digits, usually for security or data management purposes. The "one way" means that it's nearly impossible to derive the original text from the string.
A one-way hash function is used to create digital signatures, which in turn identify and authenticate the sender and message of a digitally distributed message.
A cryptographic hash function is a deterministic procedure that takes an arbitrary block of data and returns a fixed-size bit string, the (cryptographic) hash value, such that an accidental or intentional change to the data will change the hash value. The data to be encoded is often called the "message," and the hash value is sometimes called the message digest or simply digest.
The ideal cryptographic hash function has four main or significant properties:
it is easy (but not necessarily quick) to compute the hash value for any given message it is infeasible to generate a message that has a given hash it is infeasible to modify a message without changing the hash it is infeasible to find two different messages with the same hash
Cryptographic hash functions have many information security applications, notably in digital signatures, message authentication codes (MACs), and other forms of authentication. They can also be used as ordinary hash functions, to index data in hash tables, for fingerprinting, to detect duplicate data or uniquely identify files, and as checksums to detect accidental data corruption. Indeed, in information security contexts, cryptographic hash values are sometimes called (digital) fingerprints, checksums, or just hash values, even though all these terms stand for functions with rather different properties and purposes.
Source:
TIPTON, Hal, (ISC)2, Introduction to the CISSP Exam presentation.
and
http://en.wikipedia.org/wiki/Cryptographic_hash_function