Incident Response in Financial Services

Description: This quiz will test your knowledge on Incident Response in Financial Services.
Number of Questions: 14
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Tags: incident response financial services cybersecurity
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Which of the following is NOT a common type of cyberattack in the financial services industry?

  1. Phishing

  2. Malware

  3. DDoS

  4. Insider Trading


Correct Option: D
Explanation:

Insider trading is not a type of cyberattack, but rather a form of financial fraud.

What is the first step in an incident response plan?

  1. Identify the incident

  2. Contain the incident

  3. Eradicate the incident

  4. Recover from the incident


Correct Option: A
Explanation:

The first step in an incident response plan is to identify the incident, which involves gathering information about the incident and assessing its impact.

Which of the following is NOT a common type of financial data that is targeted by cybercriminals?

  1. Customer account information

  2. Credit card numbers

  3. Social Security numbers

  4. Medical records


Correct Option: D
Explanation:

Medical records are not typically targeted by cybercriminals in the financial services industry.

What is the purpose of a security incident response team (SIRT)?

  1. To prevent security incidents from occurring

  2. To detect and respond to security incidents

  3. To investigate security incidents

  4. To recover from security incidents


Correct Option: B
Explanation:

The primary purpose of a SIRT is to detect and respond to security incidents in a timely and effective manner.

Which of the following is NOT a common challenge in incident response in the financial services industry?

  1. The need to maintain customer confidence

  2. The need to comply with regulatory requirements

  3. The need to protect sensitive financial data

  4. The need to maintain business continuity


Correct Option: D
Explanation:

Maintaining business continuity is not a common challenge in incident response in the financial services industry, as financial institutions typically have robust business continuity plans in place.

What is the primary goal of incident response in the financial services industry?

  1. To prevent financial losses

  2. To protect customer data

  3. To maintain customer confidence

  4. To comply with regulatory requirements


Correct Option: A
Explanation:

The primary goal of incident response in the financial services industry is to prevent financial losses, as cyberattacks can result in significant financial losses for financial institutions.

Which of the following is NOT a common type of financial fraud?

  1. Identity theft

  2. Credit card fraud

  3. Check fraud

  4. Insider trading


Correct Option: D
Explanation:

Insider trading is not a type of financial fraud, but rather a form of financial crime.

What is the purpose of a security incident response plan (SIRP)?

  1. To define the roles and responsibilities of incident response team members

  2. To outline the steps that should be taken in the event of a security incident

  3. To provide guidance on how to investigate and remediate security incidents

  4. All of the above


Correct Option: D
Explanation:

A SIRP should define the roles and responsibilities of incident response team members, outline the steps that should be taken in the event of a security incident, and provide guidance on how to investigate and remediate security incidents.

Which of the following is NOT a common type of cyberattack that targets financial institutions?

  1. Phishing

  2. Malware

  3. DDoS

  4. Spam


Correct Option: D
Explanation:

Spam is not a type of cyberattack that specifically targets financial institutions.

What is the purpose of a security incident response drill?

  1. To test the effectiveness of an organization's SIRP

  2. To train incident response team members

  3. To identify gaps in an organization's security posture

  4. All of the above


Correct Option: D
Explanation:

A security incident response drill should test the effectiveness of an organization's SIRP, train incident response team members, and identify gaps in an organization's security posture.

Which of the following is NOT a common type of financial data that is targeted by cybercriminals?

  1. Customer account information

  2. Credit card numbers

  3. Social Security numbers

  4. Bank routing numbers


Correct Option: D
Explanation:

Bank routing numbers are not typically targeted by cybercriminals, as they are not as valuable as other types of financial data.

What is the purpose of a security incident response team (SIRT)?

  1. To prevent security incidents from occurring

  2. To detect and respond to security incidents

  3. To investigate security incidents

  4. To recover from security incidents


Correct Option: B
Explanation:

The primary purpose of a SIRT is to detect and respond to security incidents in a timely and effective manner.

Which of the following is NOT a common challenge in incident response in the financial services industry?

  1. The need to maintain customer confidence

  2. The need to comply with regulatory requirements

  3. The need to protect sensitive financial data

  4. The need to maintain business continuity


Correct Option: D
Explanation:

Maintaining business continuity is not a common challenge in incident response in the financial services industry, as financial institutions typically have robust business continuity plans in place.

What is the primary goal of incident response in the financial services industry?

  1. To prevent financial losses

  2. To protect customer data

  3. To maintain customer confidence

  4. To comply with regulatory requirements


Correct Option: A
Explanation:

The primary goal of incident response in the financial services industry is to prevent financial losses, as cyberattacks can result in significant financial losses for financial institutions.

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