CompTIA CASP+ Practice Test

Which risk strategy is appropriate when the budget is insufficient to mitigate all IT security risks?

1. Transfer the risks.

2. Accept the risks.

3. Avoid the risks entirely.

4. Mitigate the risks through additional funding.

The correct answer is: Accept the risks.

Accepting the risks is a practical strategy when there are insufficient resources to mitigate all IT security risks. This approach acknowledges that while certain risks exist, the organization has assessed them and determined that the benefits of continuing operations outweigh potential negative outcomes. Essentially, it involves understanding that not every risk can be eliminated, especially in scenarios where budget constraints impose limitations on security measures. By accepting the risks, an organization can prioritize its resources towards higher-impact threats or vulnerabilities, ensuring that the most significant risks are addressed while recognizing that some lower-level risks may not be mitigated at that time. It's vital, however, that this acceptance is documented and includes a plan for monitoring these risks continuously. This ongoing evaluation ensures that if the organization's risk tolerance changes or if more resources become available in the future, strategies can be adapted accordingly. Other strategies, such as transferring the risks or trying to avoid them completely, would require more resources or may not be feasible due to the context of the organization or its overall risk appetite. Additionally, seeking additional funding for mitigation can also prove challenging and may not be guaranteed.