Final answer:
The remaining risk after all controls have been applied is referred to as Residual risk, which is the level of risk that remains after mitigation efforts.
Step-by-step explanation:
After controls to minimize risk in the environment have been applied, the remaining risk is called Residual risk. This is the risk that remains after all efforts to identify and eliminate risk have been made. It's important to note that it's nearly impossible to eradicate all risks, and there will always be some level of risk left which needs to be accepted or further mitigated.
For example, a company may implement a variety of security measures to protect its data, but there will likely still be a small chance of a data breach due to unforeseen vulnerabilities.