iSACA Cybersecurity Fundamentals Certification Practice Exam

Which term is synonymous with likelihood in a risk assessment context?

1. Occurrence rate

2. Impact level

3. Residual risk

4. Threat assessment

The correct answer is: Occurrence rate

In the context of risk assessment, the term synonymous with likelihood is "occurrence rate." Likelihood refers to the probability or chance that a specific risk event or threat may occur within a specified period. The occurrence rate quantifies this probability, making it easier for organizations to evaluate the risks they face. By assessing the occurrence rate, organizations can prioritize their risk management efforts, determining which risks require immediate attention based on their probability of happening. The other terms do not convey the same meaning. "Impact level" refers to the consequences or effects of a risk event if it were to occur, focusing on severity rather than probability. "Residual risk" involves the risk that remains after mitigation measures have been implemented, rather than the chance of a risk occurring. "Threat assessment" evaluates potential threats and vulnerabilities but does not specifically address the likelihood of those risks materializing. Thus, occurrence rate is the term that aligns most closely with the concept of likelihood in risk assessment.