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NEW QUESTION # 265
Which of the following is the MOST important information to be communicated during security awareness training?
- A. Recent security incidents .
- B. The current risk management capability
- C. Management's expectations
- D. Corporate risk profile
Answer: A
NEW QUESTION # 266
Which of the following should be considered FIRST when assessing risk associated with the adoption of emerging technologies?
- A. Cost-benefit analysis
- B. Control self-assessment (CSA)
- C. Organizational strategy
- D. Business requirements
Answer: C
Explanation:
The first factor that should be considered when assessing risk associated with the adoption of emerging technologies is the organizational strategy. The organizational strategy defines the vision, mission, goals, and objectives of the enterprise, and provides the direction and guidance for its activities and decisions. The adoption of emerging technologies should be aligned with the organizational strategy, and support its achievement and performance. The organizational strategy also helps to determine the risk appetite and tolerance of the enterprise, and the criteria for evaluating the risks and benefits of the emerging technologies.
Cost-benefit analysis, control self-assessment, and business requirements are also important factors to consider when assessing risk associated with the adoption of emerging technologies, but they are not the first factor to consider. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 1, Section
1.2.1.1, page 181
1: ISACA Certified in Risk and Information Systems Control (CRISC) Exam Guide, Answer to Question
656.
NEW QUESTION # 267
The MAIN purpose of reviewing a control after implementation is to validate that the control:
- A. operates as intended.
- B. meets regulatory requirements.
- C. operates efficiently.
- D. is being monitored.
Answer: A
NEW QUESTION # 268
An organization has raised the risk appetite for technology risk. The MOST likely result would be:
- A. decreased residual risk.
- B. increased inherent risk.
- C. higher risk management cost
- D. lower risk management cost.
Answer: D
Explanation:
The risk appetite of an organization is the amount and type of risk that it is willing to accept in pursuit of its objectives1. Technology risk is the risk related to the use of information and technology in the organization2.
If an organization has raised its risk appetite for technology risk, it means that it is willing to accept more risk in exchange for more potential benefits from technology initiatives. This would likely result in lower risk management cost, as the organization would spend less on implementing and maintaining controls to mitigate technology risk. The other options are not the most likely results of raising the risk appetite for technology risk. Increased inherent risk is the risk before considering the effect of controls3, and it is not directly affected by the risk appetite. Higher risk management cost would be the opposite of the expected outcome, as the organization would reduce its risk management efforts. Decreased residual risk is the risk after considering the effect of controls3, and it would also be the opposite of the expected outcome, as the organization would accept more risk exposure. References = Organisations must define their IT risk appetite and tolerance; IT Risk Resources; CRISC | What Accurate CRISC Free Download Is
NEW QUESTION # 269
An organization learns of a new ransomware attack affecting organizations worldwide. Which of the following should be done FIRST to reduce the likelihood of infection from the attack?
- A. Confirm with the antivirus solution vendor whether the next update will detect the attack.
- B. Obtain approval for funding to purchase a cyber insurance plan.
- C. Identify systems that are vulnerable to being exploited by the attack.
- D. Verify the data backup process and confirm which backups are the most recent ones available.
Answer: C
NEW QUESTION # 270
What is the FIRST phase of IS monitoring and maintenance process?
- A. Identifying controls
- B. Implement monitoring
- C. Report result
- D. Prioritizing risks
Answer: D
Explanation:
Explanation/Reference:
Explanation:
Following are the phases that are involved in Information system monitoring and maintenance:
Prioritize risk: The first phase involves the prioritization of risk which in turn involves following task:
- Analyze and prioritize risks to organizational objectives.
- Identify the necessary application components and flow of information through the system.
- Examine and understand the functionality of the application by reviewing the application system documentation and interviewing appropriate personnel.
Identify controls: After prioritizing risk now the controls are identified, and this involves following tasks:
- Key controls are identified across the internal control system that addresses the prioritized risk.
- Applications control strength is identified.
- Impact of the control weaknesses is being evaluated.
- Testing strategy is developed by analyzing the accumulated information.
Identify information: Now the IS control information should be identified:
- Identify information that will persuasively indicate the operating effectiveness of the internal control system.
- Observe and test user performing procedures.
Implement monitoring: Develop and implement cost-effective procedures to evaluate the persuasive
information.
Report results: After implementing monitoring process the results are being reported to relevant
stakeholders.
Incorrect Answers:
A, C, D: These all phases occur in IS monitoring and maintenance process after prioritizing risks.
NEW QUESTION # 271
A bank has outsourced its statement printing function to an external service provider. Which of the following is the MOST critical requirement to include in the contract?
- A. Provision of internal audit reports
- B. Monitoring of service costs
- C. Confidentiality of customer data
- D. Notification of sub-contracting arrangements
Answer: C
NEW QUESTION # 272
Which of the following aspect of monitoring tool ensures that the monitoring tool has the ability to keep up with the growth of an enterprise?
- A. Scalability
- B. Customizability
- C. Impact on performance
- D. Sustainability
Answer: A
Explanation:
Section: Volume A
Explanation:
Monitoring tools have to be able to keep up with the growth of an enterprise and meet anticipated growth in process, complexity or transaction volumes; this is ensured by the scalability criteria of the monitoring tool.
Incorrect Answers:
B: For software to be effective, it must be customizable to the specific needs of an enterprise. Hence customizability ensures that end users can adapt the software.
C: It ensures that monitoring software is able to change at the same speed as technology applications and infrastructure to be effective over time.
D: The impact on performance has nothing related to the ability of monitoring tool to keep up with the growth of enterprise.
NEW QUESTION # 273
Which of the following BEST indicates the risk appetite and tolerance level (or the risk associated with business interruption caused by IT system failures?
- A. IT system criticality classification
- B. Mean time to recover (MTTR)
- C. Recovery time objective (RTO)
- D. Incident management service level agreement (SLA)
Answer: C
NEW QUESTION # 274
You are the Risk Official in Bluewell Inc. You have detected much vulnerability during risk assessment process. What you should do next?
- A. Handle vulnerabilities as a risk, even though there is no threat.
- B. Prioritize vulnerabilities for remediation solely based on impact.
- C. Evaluate vulnerabilities for threat, impact, and cost of mitigation.
- D. Analyze the effectiveness of control on the vulnerabilities' basis.
Answer: C
Explanation:
Explanation/Reference:
Explanation:
Vulnerabilities detected during assessment should be first evaluated for threat, impact and cost of mitigation. It should be evaluated and prioritized on the basis whether they impose credible threat or not.
Incorrect Answers:
A, C: These are the further steps that are taken after evaluating vulnerabilities. So, these are not immediate action after detecting vulnerabilities.
B: If detected vulnerabilities impose no/negligible threat on an enterprise then it is not cost effective to address it as risk.
NEW QUESTION # 275
FISMA requires federal agencies to protect IT systems and data. How often should compliance be audited by an external organization?
- A. Never
- B. Annually
- C. Every three years
- D. Quarterly
Answer: B
Explanation:
Explanation/Reference:
Explanation:
Inspection of FISMA is required to be done annually. Each year, agencies must have an independent evaluation of their program. The objective is to determine the effectiveness of the program. These evaluations include:
Testing for effectiveness: Policies, procedures, and practices are to be tested. This evaluation does not
test every policy, procedure, and practice. Instead, a representative sample is tested.
An assessment or report: This report identifies the agency's compliance as well as lists compliance with
FISMA. It also lists compliance with other standards and guidelines.
Incorrect Answers:
B, C, D: Auditing of compliance by external organization is done annually, not quarterly or every three years.
NEW QUESTION # 276
The PRIMARY reason to implement a formalized risk taxonomy is to:
- A. improve visibility of overall risk exposure.
- B. demonstrate best industry practice.
- C. reduce subjectivity in risk management.
- D. comply with regulatory requirements.
Answer: C
Explanation:
The primary reason to implement a formalized risk taxonomy is to reduce subjectivity in risk management, as it provides a common and consistent language and structure for identifying, classifying, and reporting risks, and facilitates the comparison and aggregation of risks across the organization. The other options are not the primary reasons, as they are more related to the outcomes, benefits, or drivers of risk management, respectively, rather than the reason for risk management. References = CRISC Review Manual, 7th Edition, page 100.
NEW QUESTION # 277
In order to determining a risk is under-controlled the risk practitioner will need to
- A. understand the risk tolerance
- B. determine the sufficiency of the IT risk budget
- C. monitor and evaluate IT performance
- D. identify risk management best practices
Answer: A
NEW QUESTION # 278
A control owner has completed a year-long project To strengthen existing controls. It is MOST important for the risk practitioner to:
- A. verify cost-benefit of the new controls betng implemented.
- B. update the risk register to reflect the correct level of residual risk.
- C. conduct and document a business impact analysis (BIA).
- D. ensure risk monitoring for the project is initiated.
Answer: B
NEW QUESTION # 279
Which of the following should be PRIMARILY considered while designing information systems controls?
- A. The organizational strategic plan
- B. The present IT budget
- C. The existing IT environment
- D. The IT strategic plan
Answer: A
Explanation:
Section: Volume A
Explanation:
Review of the enterprise's strategic plan is the first step in designing effective IS controls that would fit the enterprise's long-term plans.
Incorrect Answers:
A: The IT strategic plan exists to support the enterprise's strategic plan but is not solely considered while designing information system control.
B: Review of the existing IT environment is also useful and necessary but is not the first step that needs to be undertaken.
D: The present IT budget is just one of the components of the strategic plan.
NEW QUESTION # 280
A risk practitioner is defining metrics for security threats that were not identified by antivirus software. Which type of metric is being developed?
- A. Operational level agreement (OLA)
- B. Key control indicator (KCI)
- C. Service level agreement (SLA)
- D. Key risk indicator (KRI)
Answer: D
Explanation:
A KRI is a measure used by an organization to measure the health of a particular risk. In this case, the risk practitioner is developing a metric to measure the risk associated with security threats that were not identified by antivirus software12.
References
1Standardized Scoring for Security and Risk Metrics - ISACA
2Key Performance Indicators for Security Governance, Part 1 - ISACA
NEW QUESTION # 281
You are preparing to complete the quantitative risk analysis process with your project team and several subject matter experts. You gather the necessary inputs including the project's cost management plan.
Why is it necessary to include the project's cost management plan in the preparation for the quantitative risk analysis process?
- A. The project's cost management plan is not an input to the quantitative risk analysis process.
- B. The project's cost management plan can help you to determine what the total cost of the project is allowed to be.
- C. The project's cost management plan provides control that may help determine the structure for quantitative analysis of the budget.
- D. The project's cost management plan provides direction on how costs may be changed due to identified risks.
Answer: C
Explanation:
Explanation/Reference:
Explanation:
The cost management plan is an input to the quantitative risk analysis process because of the cost management control it provides.
The cost management plan sets how the costs on a project are managed during the project's life cycle. It defines the format and principles by which the project costs are measured, reported, and controlled. The cost management plan identifies the person responsible for managing costs, those who have the authority to approve changes to the project or its budget, and how cost performance is quantitatively calculated and reported upon.
Incorrect Answers:
B: The cost management plan defines the estimating, budgeting, and control of the project's cost.
C: While the cost management plan does define the cost change control system, this is not the best answer for this D: This is not a valid statement. The cost management plan is an input to the quantitative risk analysis process.
NEW QUESTION # 282
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ISACA CRISC (Certified in Risk and Information Systems Control) Certification Exam is a globally recognized certification that validates the skills and knowledge of IT professionals in managing and assessing enterprise risk. It is designed for individuals who are responsible for ensuring the effective implementation of risk management strategies and controls within their organization's information systems. Certified in Risk and Information Systems Control certification exam covers a wide range of topics, including risk identification, assessment, response, and monitoring, as well as governance, compliance, and information security.
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