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Cybersecurity Risk Management: Risk Management in Retail and E-commerce

Description: This quiz is designed to assess your understanding of risk management in the retail and e-commerce industry. It covers topics such as identifying and assessing risks, implementing risk mitigation strategies, and monitoring and reviewing risk management practices.
Number of Questions: 15
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Tags: cybersecurity risk management retail e-commerce
Attempted 0/15 Correct 0 Score 0

Which of the following is NOT a common type of cybersecurity risk faced by retailers and e-commerce businesses?

  1. Data breaches

  2. Malware attacks

  3. Phishing scams

  4. Physical security breaches


Correct Option: D
Explanation:

Physical security breaches are not typically considered a cybersecurity risk, as they involve unauthorized access to physical assets rather than digital information.

What is the primary goal of risk management in retail and e-commerce?

  1. To eliminate all risks

  2. To minimize the likelihood and impact of risks

  3. To transfer risks to third parties

  4. To accept risks without taking any action


Correct Option: B
Explanation:

The primary goal of risk management is to minimize the likelihood and impact of risks, rather than eliminating them entirely or transferring them to third parties.

Which of the following is NOT a key step in the risk management process?

  1. Identifying risks

  2. Assessing risks

  3. Implementing risk mitigation strategies

  4. Ignoring risks


Correct Option: D
Explanation:

Ignoring risks is not a key step in the risk management process, as it does not contribute to the goal of minimizing the likelihood and impact of risks.

What is the purpose of a risk assessment in retail and e-commerce?

  1. To identify and evaluate potential risks

  2. To develop risk mitigation strategies

  3. To monitor and review risk management practices

  4. To transfer risks to third parties


Correct Option: A
Explanation:

The purpose of a risk assessment is to identify and evaluate potential risks, rather than developing risk mitigation strategies, monitoring and reviewing risk management practices, or transferring risks to third parties.

Which of the following is NOT a common risk mitigation strategy used by retailers and e-commerce businesses?

  1. Implementing security controls

  2. Educating employees about cybersecurity risks

  3. Backing up data regularly

  4. Ignoring risks


Correct Option: D
Explanation:

Ignoring risks is not a common risk mitigation strategy, as it does not contribute to the goal of minimizing the likelihood and impact of risks.

What is the importance of monitoring and reviewing risk management practices in retail and e-commerce?

  1. To ensure that risks are being effectively managed

  2. To identify new and emerging risks

  3. To comply with regulatory requirements

  4. All of the above


Correct Option: D
Explanation:

Monitoring and reviewing risk management practices is important to ensure that risks are being effectively managed, to identify new and emerging risks, and to comply with regulatory requirements.

Which of the following is NOT a regulatory requirement for retailers and e-commerce businesses in the United States?

  1. PCI DSS compliance

  2. GDPR compliance

  3. HIPAA compliance

  4. SOX compliance


Correct Option: B
Explanation:

GDPR compliance is not a regulatory requirement for retailers and e-commerce businesses in the United States, as it is a European Union regulation.

What is the purpose of PCI DSS compliance for retailers and e-commerce businesses?

  1. To protect customer payment card data

  2. To prevent data breaches

  3. To comply with regulatory requirements

  4. All of the above


Correct Option: D
Explanation:

PCI DSS compliance is intended to protect customer payment card data, prevent data breaches, and comply with regulatory requirements.

Which of the following is NOT a key element of a comprehensive cybersecurity risk management program for retailers and e-commerce businesses?

  1. Identifying and assessing risks

  2. Implementing risk mitigation strategies

  3. Monitoring and reviewing risk management practices

  4. Ignoring risks


Correct Option: D
Explanation:

Ignoring risks is not a key element of a comprehensive cybersecurity risk management program, as it does not contribute to the goal of minimizing the likelihood and impact of risks.

What is the primary benefit of implementing a comprehensive cybersecurity risk management program for retailers and e-commerce businesses?

  1. Increased customer trust and loyalty

  2. Reduced risk of data breaches and cyberattacks

  3. Improved compliance with regulatory requirements

  4. All of the above


Correct Option: D
Explanation:

Implementing a comprehensive cybersecurity risk management program can lead to increased customer trust and loyalty, reduced risk of data breaches and cyberattacks, and improved compliance with regulatory requirements.

Which of the following is NOT a common type of cyberattack faced by retailers and e-commerce businesses?

  1. Phishing scams

  2. Malware attacks

  3. DDoS attacks

  4. Social engineering attacks


Correct Option: D
Explanation:

Social engineering attacks are not typically considered a type of cyberattack, as they involve manipulating people rather than exploiting technological vulnerabilities.

What is the purpose of a DDoS attack?

  1. To disrupt the availability of a website or online service

  2. To steal customer data

  3. To infect computers with malware

  4. To gain unauthorized access to a network


Correct Option: A
Explanation:

The purpose of a DDoS attack is to disrupt the availability of a website or online service by flooding it with traffic.

Which of the following is NOT a common type of malware used in cyberattacks against retailers and e-commerce businesses?

  1. Ransomware

  2. Spyware

  3. Adware

  4. Phishing scams


Correct Option: D
Explanation:

Phishing scams are not a type of malware, as they involve tricking people into giving up their personal information rather than exploiting technological vulnerabilities.

What is the purpose of ransomware?

  1. To encrypt files and demand a ransom payment to decrypt them

  2. To steal customer data

  3. To infect computers with malware

  4. To gain unauthorized access to a network


Correct Option: A
Explanation:

The purpose of ransomware is to encrypt files and demand a ransom payment to decrypt them.

Which of the following is NOT a common type of phishing scam used against retailers and e-commerce businesses?

  1. Fake emails claiming to be from legitimate companies

  2. Fake websites that look like legitimate online stores

  3. Fake text messages claiming to be from delivery companies

  4. Fake phone calls claiming to be from customer support


Correct Option: D
Explanation:

Fake phone calls claiming to be from customer support are not typically considered a type of phishing scam, as they involve tricking people over the phone rather than through electronic means.

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