Final answer:
The statement given is false; the correct term for accepting risks and not taking action to mitigate them is known as 'risk acceptance' not 'termination risk control strategy'. Termination involves stopping business activities that generate the risk.
Step-by-step explanation:
The statement that the risk control strategy where an organization accepts the current level of risk and decides to do nothing to protect an information asset, accepting the outcome of any resulting exploitation, is known as the termination risk control strategy, is false. The correct term for this approach is risk acceptance. Termination, in risk control strategies, refers to the complete removal of the risk by discontinuing the processes or business activities that are causing the risk.
Having a risk acceptance strategy means the organization has determined that the costs or efforts required to mitigate the risk would outweigh the benefits. This is often the case for low-probability but potentially high-impact risks, which some organizations may choose to address by formulating contingency plans rather than implementing preventive measures, much like individuals purchase insurance for comparable low-probability, high-impact scenarios.