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What is the first step that individuals responsible for the development of a business continuity plan should perform?
Answer : [B]
22. Once the BCP team is selected, what should be the first item placed on the team’s agenda?
Answer : [B]
23. What is the term used to describe the responsibility of a firm’s officers and directors to ensure that adequate measures are in place to minimize the effect of a disaster on the organization’s continued viability?
Answer : [C]
24. What will be the major resource consumed by the BCP process during the BCP phase?
Answer : [D]
25. What unit of measurement should be used to assign quantitative values to assets in the priority identification phase of the business impact assessment?
Answer : [A]
Answer: B The business organization analysis helps the initial planners select appropriate BCP team members and then guides the overall BCP process.2. Once the BCP team is selected, what should be the first item placed on the team's agenda?A. Business impact assessmentB. Business organization analysisC. Resource requirements analysisD. Legal and regulatory assessment (adsbygoogle = window.adsbygoogle || []).push({});Answer: B The first task of the BCP team should be the review and validation of the business organization analysis initially performed by those individuals responsible for spearheading the BCP effort. This ensures that the initial effort, undertaken by a small group of individuals, reflects the beliefs of the entire BCP team.3. What is the term used to describe the responsibility of a firm's officers and directors to ensure that adequate measures are in place to minimize the effect of a disaster on the organization's continued viability?A. Corporate responsibilityB. Disaster requirementC. Due diligenceD. Going concern responsibilityAnswer: C A firm's officers and directors are legally bound to exercise due diligence in conducting their activities. This concept creates a fiduciary responsibility on their part to ensure that adequate business continuity plans are in place.4. What will be the major resource consumed by the BCP process during the BCP phase?A. HardwareB. SoftwareC. Processing timeD. PersonnelAnswer: D During the planning phase, the most significant resource utilization will be the time dedicated by members of the BCP team to the planning process itself. This represents a significant use of business resources and is another reason that buy-in from senior management is essential.5. What unit of measurement should be used to assign quantitative values to assets in the priority identification phase of the business impact assessment?A. MonetaryB. UtilityC. ImportanceD. TimeAnswer: A The quantitative portion of the priority identification should assign asset values in monetary units.6. Which one of the following BIA terms identifies the amount of money a business expects to lose to a given risk each year?A. AROB. SLEC. ALED. EFAnswer: C The annualized loss expectancy (ALE) represents the amount of money a business expects to lose to a given risk each year. This figure is quite useful when performing a quantitative prioritization of business continuity resource allocation.7. What BIA metric can be used to express the longest time a business function can be unavailable without causing irreparable harm to the organization?A. SLEB. EFC. MTDD. AROAnswer: C The maximum tolerable downtime (MTD) represents the longest period a business function can be unavailable before causing irreparable harm to the business. This figure is useful when determining the level of business continuity resources to assign to a particular function.8. You are concerned about the risk that an avalanche poses to your $3 million shipping facility. Based on expert opinion, you determine that there is a 5 percent chance that an avalanche will occur each year. Experts advise you that an avalanche would completely destroy your building and require you to rebuild on the same land. Ninety percent of the $3 million value of the facility is attributed to the building and 10 percent is attributed to the land itself. What is the single loss expectancy of your shipping facility to avalanches?A. $3,000,000B. $2,700,000C. $270,000D. $135,000Answer: B The SLE is the product of the AV and the EF. From the scenario, you know that the AV is $3,000,000 and the EF is 90 percent, based on that the same land can be used to rebuild the facility. This yields an SLE of $2,700,000. (adsbygoogle = window.adsbygoogle || []).push({});9. (8) You are concerned about the risk that an avalanche poses to your $3 million shipping facility. Based on expert opinion, you determine that there is a 5 percent chance that an avalanche will occur each year. Experts advise you that an avalanche would completely destroy your building and require you to rebuild on the same land. Ninety percent of the $3 million value of the facility is attributed to the building and 10 percent is attributed to the land itself. Referring to the scenario in question 8, what is the annualized loss expectancy?A. $3,000,000B. $2,700,000C. $270,000D. $135,000Answer: D This problem requires you to compute the ALE, which is the product of the SLE and the ARO. From the scenario, you know that the ARO is 0.05 (or 5 percent). From question 8, you know that the SLE is $2,700,000. This yields an SLE of $135,000.10. You are concerned about the risk that a hurricane poses to your corporate headquarters in South Florida. The building itself is valued at $15 million. After consulting with the National Weather Service, you determine that there is a 10 percent likelihood that a hurricane will strike over the course of a year. You hired a team of architects and engineers who determined that the average hurricane would destroy approximately 50 percent of the building. What is the annualized loss expectancy (ALE)?A. $750,000B. $1.5 millionC. $7.5 millionD. $15 millionAnswer: A This problem requires you to compute the ALE, which is the product of the SLE and ARO. From the scenario, you know that the ARO is 0.10 (or 10 percent). From the scenario presented, you know that the SLE is $7.5 million. This yields an SLE of $750,000.11. Which task of BCP bridges the gap between the business impact assessment and the continuity planning phases?A. Resource prioritizationB. Likelihood assessmentC. Strategy developmentD. Provisions and processesAnswer: C The strategy development task bridges the gap between business impact assessment and continuity planning by analyzing the prioritized list of risks developed during the BIA and determining which risks will be addressed by the BCP.12. Which resource should you protect first when designing continuity plan provisions and processes?A. Physical plantB. InfrastructureC. FinancialD. PeopleAnswer: D The safety of human life must always be the paramount concern in business continuity planning. Be sure that your plan reflects this priority, especially in the written documentation that is disseminated to your organization's employees!13. Which one of the following concerns is not suitable for quantitative measurement during the business impact assessment?A. Loss of a plantB. Damage to a vehicleC. Negative publicityD. Power outageAnswer: C It is very difficult to put a dollar figure on the business lost because of negative publicity. Therefore, this type of concern is better evaluated through a qualitative analysis.14. Lighter Than Air Industries expects that it would lose $10 million if a tornado struck its aircraft operations facility. It expects that a tornado might strike the facility once every 100 years. What is the single loss expectancy for this scenario?A. 0.01B. $10,000,000C. $100,000D. 0.10Answer: B The single loss expectancy (SLE) is the amount of damage that would be caused by a single occurrence of the risk. In this case, the SLE is $10 million, the expected damage from one tornado. The fact that a tornado occurs only once every 100 years is not reflected in the SLE but would be reflected in the annualized loss expectancy (ALE).15. (14) Lighter Than Air Industries expects that it would lose $10 million if a tornado struck its aircraft operations facility. It expects that a tornado might strike the facility once every 100 years. Referring to the scenario in question 14, what is the annualized loss expectancy?A. 0.01B. $10,000,000C. $100,000D. 0.10Answer: C The annualized loss expectancy (ALE) is computed by taking the product of the single loss expectancy (SLE), which was $10 million in this scenario, and the annualized rate of occurrence (ARO), which was 0.01 in this example. These figures yield an ALE of $100,000.16. In which business continuity planning task would you actually design procedures and mechanisms to mitigate risks deemed unacceptable by the BCP team?A. Strategy developmentB. Business impact assessmentC. Provisions and processesD. Resource prioritizationAnswer: C In the provisions and processes phase, the BCP team actually designs the procedures and mechanisms to mitigate risks that were deemed unacceptable during the strategy development phase.17. What type of mitigation provision is utilized when redundant communications links are installed?A. Hardening systemsB. Defining systemsC. Reducing systemsD. Alternative systemsAnswer: D This is an example of alternative systems. Redundant communications circuits provide backup links that may be used when the primary circuits are unavailable.18. What type of plan outlines the procedures to follow when a disaster interrupts the normal operations of a business?A. Business continuity planB. Business impact assessmentC. Disaster recovery planD. Vulnerability assessmentAnswer: C Disaster recovery plans pick up where business continuity plans leave off. After a disaster strikes and the business is interrupted, the disaster recovery plan guides response teams in their efforts to quickly restore business operations to normal levels.19. What is the formula used to compute the single loss expectancy for a risk scenario?A. SLE = AV × EFB. SLE = RO × EFC. SLE = AV × AROD. SLE = EF × AROAnswer: A The single loss expectancy (SLE) is computed as the product of the asset value (AV) and the exposure factor (EF). The other formulas displayed here do not accurately reflect this calculation.20. Of the individuals listed, who would provide the best endorsement for a business continuity plan's statement of importance?A. Vice president of business operationsB. Chief information officerC. Chief executive officerD. Business continuity managerAnswer: C You should strive to have the highest-ranking person possible sign the BCP's statement of importance. Of the choices given, the chief executive officer is the highest ranking.What is the first step that individuals responsible for the development of a business continuity plan?1. Business Impact Analysis (BIA) The first step to building your company's BCP is to consider the potential impact of each type of disaster or risk event that your company may face.
What is the first step in business continuity planning quiz?What is the first step in business continuity planning? List possible events. Document the actions that should be taken to prevent or reduce the likelihood of an event occurring. Have multiple personnel review the plan.
What is one of the initial steps in developing a business continuity plan Mcq?Stages/steps of a Business Continuity Plan (BCP) include:. Get started and Identify business requirements.. Determine recovery speed and Deal with gaps.. Maintain the program.. All of the above.. What is the first step of BCP implementation?Step 1: Assemble a Business Continuity Management Team
A good BCP should detail what your staff needs to do in the event of a disaster, what communication methods are required, and the timeframe in which critical IT services need to be available.
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What is the first step that individuals responsible for the development of a business continuity plan should perform Mcq?
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