PECB Updated ISO-IEC-27005-Risk-Manager Exam Questions and Answers by michal

ISO 31000 is an international standard that provides guidelines for risk management. It is a framework that helps organizations develop a risk management strategy to effectively manage risk, taking into consideration their specific contexts. However, ISO 31000 is not designed to be used as a certifiable standard; instead, it offers principles, a framework, and a process for managing risk. Unlike other ISO standards, such as ISO/IEC 27001 for information security management systems, which are certifiable, ISO 31000 does not have a certification process because it does not specify any requirements that an organization must comply with. Therefore, option C is the correct answer because ISO 31000 is intended to provide guidelines and is not certifiable.

OCTAVE-S (Operationally Critical Threat, Asset, and Vulnerability Evaluation for Small Organizations) is a risk assessment methodology tailored for small organizations. It provides a structured approach for identifying and managing information security risks. The OCTAVE-S method involves three main phases:

Building asset-based threat profiles, where critical assets and their associated threats are identified.

Identifying infrastructure vulnerabilitiesby assessing the organization's technological infrastructure for weaknesses that could be exploited by threats.

Developing security strategy and plansto address the identified risks and improve the overall security posture.

The OCTAVE-S method aligns with the description provided in the question, making it the correct answer. MEHARI and TRA are other risk assessment methods, but they do not specifically follow the three phases outlined above.

According to ISO/IEC 27000, information security is defined as the "preservation of confidentiality, integrity, and availability of information." This definition highlights the three core principles of information security:

Confidentialityensures that information is not disclosed to unauthorized individuals or systems.

Integrityensures the accuracy and completeness of information and its processing methods.

Availabilityensures that authorized users have access to information and associated assets when required.

This definition encompasses the protection of information in all forms and aligns with ISO/IEC 27005’s guidelines on managing information security risks. Therefore, option A is the correct answer. Options B and C are incorrect as they refer to more specific aspects or other areas of information management.