Summary of Loss for a Given Year

B.

The summary of loss for a given year is typically expressed in financial terms, and it represents the estimated total cost that an organization may incur due to a security incident during that year.

Out of the options given, the term that best fits this definition is "ALE," which stands for Annualized Loss Expectancy. Therefore, the correct answer is B.

To explain further, ALE is calculated by multiplying the Single Loss Expectancy (SLE) by the Annual Rate of Occurrence (ARO).

The SLE is the estimated financial loss that could result from a single security incident, whereas the ARO represents the expected frequency of such incidents occurring in a year.

For example, if a company determines that the SLE for a particular type of security incident is $10,000, and the ARO is 4 incidents per year, then the ALE for that incident would be $40,000 ($10,000 x 4). This means that the company should expect to lose approximately $40,000 per year due to that specific security incident.

MTBF (Mean Time Between Failures) is a measure of the average time between failures of a system, device, or component. It is typically used in the context of reliability and availability analysis.

SLA (Service Level Agreement) is an agreement between a service provider and a customer that specifies the level of service that will be provided, as well as any guarantees or penalties for failing to meet those service levels.

ARO (Annual Rate of Occurrence) represents the expected frequency of a particular type of security incident occurring in a year. It is used in the calculation of ALE, as mentioned above.