Exam IIA-CIA-Part3 Topic 6 Question 387 Discussion

For the purposes of management, there are seven key questions that can serve to identify organizational risk and target potential ways to control or mitigate the exposures. These questions, along with the risk elements associated with them in brackets), include the following:
What could happen that would adversely affect the organization's ability to achieve its objectives and execute its strategies? [Threat Events]
If it happens, what is the potential financial impact? [Single Loss Exposure Value]
How often might it happen? [Frequency]
How probable are the answers to the first three questions? [Uncertainty]
What can be done to prevent and avoid, mitigate, and detect risks and provide notification? [Safeguards and Controls]
How much will it cost? [Safeguards and Control Costs]
How efficient would that be? [Cost/Benefit or R01 Analysis]