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The CRISC certification exam is designed for professionals who are responsible for managing IT risks and ensuring the security and integrity of information systems. This includes IT risk managers, information security professionals, compliance officers, and other professionals involved in the management of IT and business risks. CRISC exam is based on the CRISC job practice, which defines the knowledge and skills required for the effective management of IT risks. CRISC exam covers four domains: risk identification, assessment, response, and monitoring.
NEW QUESTION # 846
Which of the following will BEST help an organization evaluate the control environment of several third-party vendors?
- A. Obtain vendor references from third parties.
- B. Review vendors' internal risk assessments covering key risk and controls.
- C. Review vendors performance metrics on quality and delivery of processes.
- D. Obtain independent control reports from high-risk vendors.
Answer: D
NEW QUESTION # 847
Which of the following is the BEST key performance indicator (KPI) to measure the effectiveness of an anti-virus program?
- A. Percentage of IT assets with current malware definitions
- B. Frequency of anti-virus software updates
- C. Number of alerts generated by the anti-virus software
- D. Number of false positives detected over a period of time
Answer: A
Explanation:
An anti-virus program is a software that detects and removes malicious software, such as viruses, worms, or ransomware, from the IT assets, such as computers, servers, or networks. The effectiveness of an anti-virus program can be measured by the key performance indicators (KPIs) that reflect the achievement of the program objectives and the alignment with the enterprise's risk appetite and tolerance. The best KPI to measure the effectiveness of an anti-virus program is the percentage of IT assets with current malware definitions. Malware definitions are the files or databases that contain the signatures or patterns of the known malicious software, and they are used by the anti-virus program to scan and identify the malware. The percentage of IT assets with current malware definitions indicates how well the anti-virus program is able to protect the IT assets from the latest or emerging threats, and reduce the exposure and impact of the risks associated with the malware. The other options are not as good as the percentage of IT assets with current malware definitions, as they may not reflect the quality or timeliness of the protection, or the alignment with the enterprise's risk appetite and tolerance. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 4, Section 4.3.2.1, pp. 171-172.
NEW QUESTION # 848
John is the project manager of the NHQ Project for his company. His project has 75 stakeholders, some of which are external to the organization. John needs to make certain that he communicates about risk in the most appropriate method for the external stakeholders. Which project management plan will be the best guide for John to communicate to the external stakeholders?
- A. Risk Management Plan
- B. Communications Management Plan
- C. Risk Response Plan
- D. Project Management Plan
Answer: B
Explanation:
Explanation/Reference:
Explanation:
The Communications Management Plan will direct John on the information to be communicated, when to communicate, and how to communicate with external stakeholders.
The Communications Management Plan aims to define the communication necessities for the project and how the information will be circulated. The Communications Management Plan sets the communication structure for the project. This structure provides guidance for communication throughout the project's life and is updated as communication needs change. The Communication Managements Plan identifies and defines the roles of persons concerned with the project. It includes a matrix known as the communication matrix to map the communication requirements of the project.
Incorrect Answers:
A: The Risk Response Plan identifies how risks will be responded to.
C: The Project Management Plan is the parent of all subsidiary management plans and it is not the most accurate choice for this question D: The Risk Management Plan defines how risks will be identified, analyzed, responded to, and controlled throughout the project.
NEW QUESTION # 849
Which of the following is the BEST approach to use when creating a comprehensive set of IT risk scenarios?
- A. Map scenarios to a recognized risk management framework
- B. Derive scenarios from IT risk policies and standards
- C. Gather scenarios from senior management
- D. Benchmark scenarios against industry peers
Answer: A
Explanation:
Section: Volume D
Explanation/Reference:
NEW QUESTION # 850
Which of the following is MOST important to include when identifying risk scenarios for inclusion in a risk review of a third-party service provider?
- A. Process mapping.
- B. Supplier questionnaires.
- C. Purchasing agreements.
- D. Open vendor issues.
Answer: A
Explanation:
Section: Volume D
NEW QUESTION # 851
An organization control environment is MOST effective when:
- A. control designs are reviewed periodically
- B. controls perform as intended.
- C. controls operate efficiently
- D. controls are implemented consistently.
Answer: B
NEW QUESTION # 852
You are the project manager for your organization. You are preparing for the quantitative risk analysis.
Mark, a project team member, wants to know why you need to do quantitative risk analysis when you just completed qualitative risk analysis. Which one of the following statements best defines what quantitative risk analysis is?
- A. Quantitative risk analysis is the process of numerically analyzing the effect of identified risks on overall project objectives.
- B. Quantitative risk analysis is the planning and quantification of risk responses based on probability and impact of each risk event.
- C. Quantitative risk analysis is the review of the risk events with the high probability and the highest impact on the project objectives.
- D. Quantitative risk analysis is the process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact.
Answer: A
Explanation:
Explanation/Reference:
Explanation:
Quantitative risk analysis is the process of numerically analyzing the effect of identified risks on overall project objectives. It is performed on risk that have been prioritized through the qualitative risk analysis process.
Incorrect Answers:
A: While somewhat true, this statement does not completely define the quantitative risk analysis process.
B: This is actually the definition of qualitative risk analysis.
D: This is not a valid statement about the quantitative risk analysis process. Risk response planning is a separate project management process.
NEW QUESTION # 853
Which of the following is MOST important to communicate to senior management during the initial implementation of a risk management program?
- A. Risk ownership
- B. Desired risk level
- C. Regulatory compliance
- D. Best practices
Answer: B
Explanation:
The most important factor to communicate to senior management during the initial implementation of a risk management program is the desired risk level, which is the level of risk that the organization aims to achieve in order to fulfill its objectives and strategy1. The desired risk level can help to:
* Define and communicate the risk appetite and tolerance, which are the amount and type of risk that the organization is willing to accept or pursue in order to achieve its objectives2.
* Guide and align the risk identification, analysis, evaluation, and treatment processes, and ensure that the risks are consistent and proportional to the desired risk level3.
* Measure and monitor the risk performance and outcome, and ensure that the actual risk level is within the desired risk level, or take corrective actions if needed4.
The other factors are not the most important to communicate to senior management, because:
* Regulatory compliance is a necessary but not sufficient factor to communicate to senior management, as it ensures that the risk management program complies with the applicable laws, rules, or standards that govern the organization's activities and operations5. However, regulatory compliance does not guarantee that the risk management program is relevant and useful for the organization's specific objectives and strategy.
* Risk ownership is a desirable but not essential factor to communicate to senior management, as it assigns the roles and responsibilities for managing the risks and implementing the risk responses to the appropriate individuals or entities within the organization. However, risk ownership does not ensure that the risk management program is effective and efficient in achieving the desired risk level.
* Best practices are a useful but not critical factor to communicate to senior management, as they provide the guidelines and standards for designing and implementing the risk management program, based on the experience and knowledge of the industry or the profession. However, best practices do not ensure that the risk management program is suitable and feasible for the organization's specific context and capabilities.
References =
* Desired Risk Level - CIO Wiki
* Risk Appetite and Tolerance - CIO Wiki
* Risk Management Process - CIO Wiki
* Risk Monitoring - CIO Wiki
* Regulatory Compliance - CIO Wiki
* [Risk Ownership - CIO Wiki]
* [Best Practice - CIO Wiki]
* [Risk Management - CIO Wiki]
NEW QUESTION # 854
A web-based service provider with a low risk appetite for system outages is reviewing its current risk profile for online security. Which of the following observations would be MOST relevant to escalate to senior management?
- A. An increase in attempted distributed denial of service (DDoS) attacks
- B. A decrease in remediated web security vulnerabilities
- C. An increase in attempted website phishing attacks
- D. A decrease in achievement of service level agreements (SLAs)
Answer: A
Explanation:
Section: Volume D
NEW QUESTION # 855
You are the project manager of a SGT project. You have been actively communicating and working with the project stakeholders. One of the outputs of the "manage stakeholder expectations" process can actually create new risk events for your project. Which output of the manage stakeholder expectations process can create risks?
- A. Change requests
- B. An organizational process asset updates
- C. Project management plan updates
- D. Project document updates
Answer: A
Explanation:
Explanation/Reference:
Explanation:
The manage stakeholder expectations process can create change requests for the project, which can cause new risk events to enter into the project.
Change requests are requests to expand or reduce the project scope, modify policies, processes, plans, or procedures, modify costs or budgets or revise schedules. These requests for a change can be direct or indirect, externally or internally initiated, and legally or contractually imposed or optional. A Project Manager needs to ensure that only formally documented requested changes are processed and only approved change requests are implemented.
Incorrect Answers:
A: The project management plan updates do not create new risks.
B: The organizational process assets updates do not create new risks.
D: The project document updates do not create new risks.
NEW QUESTION # 856
Which of the following comes under phases of risk management?
- A. Identify risk
- B. Prioritization of risk
- C. Assessing risk
- D. Developing risk
- E. Monitoring risk
Answer: A,B,C,E
Explanation:
Risk management provides an approach for individuals and groups to make a decision on how to
deal with potentially harmful situations.
Following are the four phases involved in risk management:
1.Risk identification :The first thing we must do in risk management is to identify the areas of the
project where the risks can occur.
This is termed as risk identification. Listing all the possible risks is proved to be very productive for
the enterprise as we can cure them before it can occur. In risk identification both threats and opportunities are considered, as both carry some level of risk with them. 2.Risk Assessment and Evaluation :Risk assessment use quantitative and qualitative analysis approaches to evaluate each significant risk identified. 3.Risk Prioritization and Response :As many risks are being identified in an enterprise, it is best to give each risk a score based on its likelihood and significance in form of ranking. This concludes whether the risk with high likelihood and high significance must be given greater attention as compared to similar risk with low likelihood and low significance. Hence, risks can be prioritized and appropriate responses to those risks are created. 4.Risk Monitoring :Risk monitoring is an activity which oversees the changes in risk assessment. Over time, the likelihood or significance originally attributed to a risk may change. This is especially true when certain responses, such as mitigation, have been made.
NEW QUESTION # 857
Which type of cloud computing deployment provides the consumer the GREATEST degree of control over the environment?
- A. Hybrid cloud
- B. Public cloud
- C. Private cloud
- D. Community cloud
Answer: C
Explanation:
* A private cloud is a type of cloud computing deployment that provides the consumer exclusive access to a pool of computing resources that are owned, managed, and operated by the consumer or a third-party provider on behalf of the consumer.
* A private cloud provides the consumer the greatest degree of control over the environment, because the consumer can customize and configure the resources according to their specific needs and preferences, and can apply their own security and governance policies and standards.
* The other options are not the types of cloud computing deployment that provide the consumer the greatest degree of control over the environment. They are either shared or limited by the provider's settings and rules.
The references for this answer are:
* Risk IT Framework, page 23
* Information Technology & Security, page 17
* Risk Scenarios Starter Pack, page 15
NEW QUESTION # 858
A risk practitioner has identified that the organization's secondary data center does not provide redundancy for a critical application. Who should have the authority to accept the associated risk?
- A. Business continuity director
- B. Data center manager
- C. Business application owner
- D. Disaster recovery manager
Answer: C
NEW QUESTION # 859
What are the key control activities to be done to ensure business alignment?
Each correct answer represents a part of the solution. Choose two.
- A. Periodically identify critical data that affect business operations
- B. Establish an independent test task force that keeps track of all events
- C. Conduct IT continuity tests on a regular basis or when there are major changes in the IT infrastructure
- D. Define the business requirements for the management of data by IT
Answer: A,D
Explanation:
Explanation/Reference:
Explanation:
Business alignment require following control activities:
Defining the business requirements for the management of data by IT.
Periodically identifying critical data that affect business operations, in alignment with the risk
management model and IT service as well as the business continuity plan.
Incorrect Answers:
B: Conducting IT continuity tests on a regular basis or when there are major changes in the IT infrastructure is done for testing IT continuity plan. It does not ensure alignment with business.
D: This is not a valid answer.
NEW QUESTION # 860
Which of the following is the BEST indication that an organization is following a mature risk management process?
- A. A dashboard has been developed for senior management to provide real-time risk values.
- B. The risk register is frequently utilized for decision-making.
- C. Executive management receives periodic risk awareness training.
- D. Attributes of each risk scenario have been documented within the risk register.
Answer: A
Explanation:
Section: Volume D
Explanation/Reference:
NEW QUESTION # 861
Mike is the project manager of the NNP Project for his organization. He is working with his project team to plan the risk responses for the NNP Project. Mike would like the project team to work together on establishing risk thresholds in the project. What is the purpose of establishing risk threshold?
- A. It is a warning sign that a risk event is going to happen.
- B. It helps to identify those risks for which specific responses are needed.
- C. It is a limit of the funds that can be assigned to risk events.
- D. It is a study of the organization's risk tolerance.
Answer: B
Explanation:
Risk threshold helps to identify those risks for which specific responses are needed.
NEW QUESTION # 862
Which of the following is the ULTIMATE objective of utilizing key control indicators (KCIs) in the risk management process?
- A. To provide insight into the effectiveness of the internal control environment
- B. To provide benchmarks for assessing control design effectiveness against industry peers
- C. To provide early warning signs of a potential change in risk level
- D. To provide a basis for determining the criticality of risk mitigation controls
Answer: C
Explanation:
The ultimate objective of utilizing key control indicators (KCIs) in the risk management process is to provide early warning signs of a potential change in risk level, as they indicate the performance and adequacy of the controls, and alert the stakeholders to any control gaps or deficiencies that may affect the risk exposure and impact. The other options are not the ultimate objectives, as they are more related to the insight, basis, or benchmark of the risk management process, respectively, rather than the early warning sign of the risk management process. References = CRISC Review Manual, 7th Edition, page 110.
NEW QUESTION # 863
When developing a new risk register, a risk practitioner should focus on which of the following risk management activities?
- A. Risk response planning
- B. Risk management strategy planning
- C. Risk monitoring and control
- D. Risk identification
Answer: D
NEW QUESTION # 864
Which of the following would MOST effectively reduce risk associated with an increase of online transactions on a retailer website?
- A. A hot backup site
- B. Transaction limits
- C. Website activity monitoring
- D. Scalable infrastructure
Answer: C
Explanation:
The most effective way to reduce risk associated with an increase of online transactions on a retailer website is to implement website activity monitoring. Website activity monitoring can help to detect and prevent fraudulent transactions, unauthorized access, data breaches, and other cyber threats that may compromise the security and integrity of the website and its data. Scalable infrastructure, a hot backup site, and transaction limits are other possible ways to reduce risk, but they are not as effective as website activity monitoring.
References = ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, question 7; CRISC Review Manual, 6th Edition, page 202.
NEW QUESTION # 865
During a routine check, a system administrator identifies unusual activity indicating an intruder within a firewall. Which of the following controls has MOST likely been compromised?
- A. Authentication
- B. Identification
- C. Data integrity
- D. Data validation
Answer: A
NEW QUESTION # 866
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ISACA CRISC (Certified in Risk and Information Systems Control) Certification Exam is a globally recognized certification designed for professionals in the field of information systems (IS) and IT risk management. Certified in Risk and Information Systems Control certification exam is offered by the Information Systems Audit and Control Association (ISACA), which is a non-profit organization that provides education, certification, and advocacy for professionals in the field of information technology (IT) audit and control. The CRISC certification exam is designed to assess a candidate's knowledge and skills in the areas of IT risk identification, assessment, evaluation, management, and control.
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