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Incident Response:

The individual should be very well versed in incident response and how to respond to incidents that have occurred. The candidate must be able to assist the organization in identifying the type of incident that has occurred, possible factors that could caused it as well as suggest ways to prevent such incidents from happening again.

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Risk Avoidance, Transfer and Acceptance:

The individual must understand how to reduce risk through information security measures. This involves understanding the need for risk assessment, analyzing weaknesses in internal controls and identifying risk mitigation strategies. The individual should be very well versed in risk avoidance because it will help him or her identify risks within the organization as well as take measures to eliminate these risks.

Reference: http://www.certiport.com/portal/common/documentlibrary/IC3_GS4_Key_Applications.pdf

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