What are some of the major differences of Qualitative vs. Quantitative methods of performing risk analysis? (Choose all that apply)

Quantitative analysis assigns specific monetary or numerical values to assets, threats, and vulnerabilities to calculate the financial impact of risk.

Qualitative analysis uses descriptive terms (e.g., high, medium, low) and subjective judgment rather than precise numeric values for risk assessment.

Performing a thorough quantitative analysis often involves extensive data collection, complex calculations, and specialized expertise, making it more time-consuming.

Qualitative analysis is generally less time-consuming than quantitative analysis because it relies on expert opinions and descriptive scales rather than detailed numerical calculations.

Quantitative risk analysis frequently uses formulas like the Annualized Loss Expectancy (ALE) to estimate the potential financial loss from a risk over a year.

ALE formulas are specific to quantitative risk analysis, as they involve financial calculations to determine annualized losses, which is not characteristic of qualitative methods.