Jeff is considering insuring against cyberattack that may le…
Jeff is considering insuring against cyberattack that may lead to damage to computer equipment risk. His company is currently valued at $50,000 (estimated wealth). If he suffers damage, he will likely lose $25,000 of his company’s wealth. If he gets insurance, then the insurance will cost (premium) $1000 and a payout in case of damages of $26,000. He knows from his IT Analyst that the expected value of his company’s wealth without insurance can be calculated aswhile with insurance can be calculated aswhere W = wealth, L = loss due to damages, A = insurance payout, b = insurance premium, =likelihood of attack. Given that attack happens with a probability of 0.4, what is the expected value of his company’s wealth with and without insurance?
Read DetailsA department employee creates and maintains a spreadsheet fo…
A department employee creates and maintains a spreadsheet for the employees to enter the hours they worked. Subsequently, the spreadsheets are used to load the employees’ working time into the system. Which of the following is the highest risk associated with using the spreadsheet?
Read DetailsMost users are aware about malware attacks (e.g., virus, wor…
Most users are aware about malware attacks (e.g., virus, worms, etc.) but the effect of such attacks remains only a threat until they actually experience a loss. Match each of the following computer malware attacks — virus, worm, mole, hole, Trojan horse, and time bomb — with their appropriate description.
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