The combination of the likelihood of an event and its impact.

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Prepare for the ISACA IT Risk Fundamentals Test. Find flashcards and multiple choice questions, complete with hints and explanations. Ace your exam with confidence!

Multiple Choice

The combination of the likelihood of an event and its impact.

Explanation:
Risk is the measure that combines how likely something is to happen with how severe the consequences would be if it did. In IT risk management, risk is often viewed as a function of likelihood and impact, guiding how we prioritize controls and responses. Probability alone only describes the chance of occurrence, not the outcome. A threat is a potential cause of harm, not the assessed severity or combined likelihood–impact. A standard is a guideline or benchmark, not an assessment of risk. So the description “the combination of the likelihood of an event and its impact” points to risk.

Risk is the measure that combines how likely something is to happen with how severe the consequences would be if it did. In IT risk management, risk is often viewed as a function of likelihood and impact, guiding how we prioritize controls and responses. Probability alone only describes the chance of occurrence, not the outcome. A threat is a potential cause of harm, not the assessed severity or combined likelihood–impact. A standard is a guideline or benchmark, not an assessment of risk. So the description “the combination of the likelihood of an event and its impact” points to risk.

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