2026 ANSI/ASIS PAP.1-2012 Physical Asset Protection APP Complete Practice Exam

Probability of an event occurring is what’s being tested; in asset protection this is labeled as likelihood. Likelihood captures the chance that a threat event will occur within a given period or under certain conditions. It’s the core idea behind risk calculations like risk = likelihood × impact, where likelihood tells you how probable it is that something will happen.

Impact refers to the severity of the consequence if the event happens, not how likely it is. A hazard is a condition or source that could cause harm, rather than the probability of an event occurring. Integrity concerns whether information or systems remain accurate, tamper-free, and trustworthy, not the odds of an event taking place.

So the term that represents the chance of something happening is likelihood, because it specifically denotes probability.