Section: Volume D

Section: Volume A
Explanation:
Risk transfer is the practice of passing risk from one entity to another entity. In other words, if a company is covered under a liability insurance policy providing various liability coverage for information security risks, including any physical damage of assets, hacking attacks, etc., it means it has transferred its security risks to the insurance company.
Incorrect Answers:
B: Risk acceptance is the practice of accepting certain risk(s), typically based on a business decision that may also weigh the cost versus the benefit of dealing with the risk in another way.
C: Risk avoidance is the practice of not performing an activity that could carry risk. Avoidance may seem the answer to all risks, but avoiding risks also means losing out on the potential gain that accepting (retaining) the risk may have allowed.
D: Risk mitigation is the practice of reducing the severity of the loss or the likelihood of the loss from occurring.

Section: Volume C
Explanation:
Risk register primarily contains the following:
* List of identified risks: A reasonable description of the identified risks is noted in the risk register. The description includes event, cause, effect, impact related to the risks identified. In addition to the list of identified risks, the root causes of those risks may appear in the risk register.
* List of potential responses: Potential responses to a risk may be identified during the Identify Risks process.
These responses are useful as inputs to the Plan Risk Responses process.
Incorrect Answers:
B: This is not a valid content of risk register.
A risk register is an inventory of risks and exposure associated with those risks. Risks are commonly found in project management practices, and provide information to identify, analyze, and manage risks. Typically a risk register contains:
* A description of the risk
* The impact should this event actually occur
* The probability of its occurrence
* Risk Score (the multiplication of Probability and Impact)
* A summary of the planned response should the event occur
* A summary of the mitigation (the actions taken in advance to reduce the probability and/or impact of the event)
* Ranking of risks by Risk Score so as to highlight the highest priority risks to all involved.
C: Risk register do contain the summary of mitigation, but only after the applying risk response. Here in this scenario you are in risk identification phase, hence mitigation techniques cannot be documented at this situation.

is incorrect. The temperature 430 degree in scenario is the risk trigger. A risk trigger is a warning sign or condition that a risk event is about to happen. As in this scenario the 430 degree temperature is the indication of upcoming risks, hence 430 degree temperature is a risk trigger. Answer:D is incorrect. Risk response is the action taken to reduce the risk event occurrence. Hence here risk response is shutting off of machine. Answer:B is incorrect. The first thing we must do in risk management is to identify the areas of the project where the risks can occur. This is termed as risk identification. Listing all the possible risks is proved to be very productive for the enterprise as we can cure them before it can occur. In risk identification both threats and opportunities are considered, as both carry some level of risk with them.