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The CRISC certification is an important credential for IT professionals who want to advance their careers and demonstrate their expertise in risk management and information systems control. By acquiring this certification, professionals can enhance their credibility and demonstrate their commitment to maintaining the highest standards of excellence in their field.
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.
NEW QUESTION # 15
Which of the following provides the MOST useful information to assess the magnitude of identified deficiencies in the IT control environment?
- A. Threat analysis results
- B. Peer benchmarks
- C. Business impact analysis (BIA) results
- D. Internal audit reports
Answer: A
NEW QUESTION # 16
Which of The following would offer the MOST insight with regard to an organization's risk culture?
- A. Benchmark analyses
- B. Senior management interviews
- C. Risk management framework
- D. Risk management procedures
Answer: B
NEW QUESTION # 17
Which of the following should be the MOST important consideration for senior management when developing a risk response strategy?
- A. Probability definition
- B. Risk tolerance
- C. Cost of controls
- D. Risk appetite
Answer: C
NEW QUESTION # 18
You are the product manager in your enterprise. You have identified that new technologies, products and services are introduced in your enterprise time-to-time. What should be done to prevent the efficiency and effectiveness of controls due to these changes?
- A. Nothing, efficiency and effectiveness of controls are not affected by these changes
- B. Receive timely feedback from risk assessments and through key risk indicators, and update controls
- C. Perform Business Impact Analysis (BIA)
- D. Add more controls
Answer: B
Explanation:
Explanation/Reference:
Explanation:
As new technologies, products and services are introduced, compliance requirements become more complex and strict; business processes and related information flows change over time. These changes can often affect the efficiency and effectiveness of controls. Formerly effective controls become inefficient, redundant or obsolete and have to be removed or replaced.
Therefore, the monitoring process has to receive timely feedback from risk assessments and through key risk indicators (KRIs) to ensure an effective control life cycle.
Incorrect Answers:
B: Most of the time, the addition of controls results in degradation of the efficiency and profitability of a process without adding an equitable level of corresponding risk mitigation, hence better controls are adopted in place of adding more controls.
C: A BIA is a discovery process meant to uncover the inner workings of any process. It helps to identify about actual procedures, shortcuts, workarounds and the types of failure that may occur. It involves determining the purpose of the process, who performs the process and its output. It also involves determining the value of the process output to the enterprise.
D: Efficiency and effectiveness of controls are not affected by the changes in technology or product, so some measure should be taken.
NEW QUESTION # 19
Which of the following are sub-categories of threat?
Each correct answer represents a complete solution. Choose three.
- A. Computer and user
- B. External and internal
- C. Natural and man-made
- D. Intentional and accidental
- E. Natural and supernatural
Answer: B,C,D
Explanation:
A threat is any event which have the potential to cause a loss. In other word, it is any activity that represents a possible danger. The loss or danger is directlyrelated to one of the following: Loss of confidentiality- Someone sees a password or a company's secret formula, this is referred to as loss of confidentiality. Loss of integrity- An e-mail message is modified in transit, a virus infects a file, or someone makes unauthorized changes to a Web site is referred to as loss of integrity. Loss of availability- An e-mail server is down and no one has e-mail access, or a file server is down so data files aren't available comes under loss of availability. Threat identification is the process of creating a list of threats. This list attempts to identify all the possible threats to an organization. The list can be extensive. Threats are often sub-categorized as under: External or internal- External threats are outside the boundary of the organization. They can also be thought of as risks that are outside the control of the organization. While internal threats are within the boundary of the organization. They could be related to employees or other personnel who have access to company resources. Internal threats can be related to any hardware or software controlled by the business. Natural or man-made- Natural threats are often related to weather such as hurricanes, tornadoes, and ice storms. Natural disasters like earthquakes and tsunamis are also natural threats. A human or man-made threat is any threat which is caused by a person. Any attempt to harm resources is a man-made threat. Fire could be man-made or natural depending on how the fire is started. Intentional or accidental- An attempt to compromise confidentiality, integrity, or availability is intentional. While employee mistakes or user errors are accidental threats. A faulty application that corrupts data could also be considered accidental.
NEW QUESTION # 20
Which of the following is true for risk management frameworks, standards and practices?
Each correct answer represents a part of the solution. Choose three.
- A. They assist in achieving business objectives quickly and easily.
- B. They provide a systematic view of "things to be considered" that could harm clients or an enterprise.
- C. They act as a guide to focus efforts of variant teams.
- D. They result in increase in cost of training, operation and performance improvement.
Answer: A,B,C
Explanation:
Section: Volume C
Explanation:
Frameworks, standards and practices are necessary as:
* They provide a systematic view of "things to be considered" that could harm clients or an enterprise.
* They act as a guide to focus efforts of variant teams.
* They save time and revenue, such as training costs, operational costs and performance improvement costs.
* They assist in achieving business objectives quickly and easily.
NEW QUESTION # 21
Which of the following come under the phases of risk identification and evaluation?
Each correct answer represents a complete solution. Choose three.
- A. Explanation:
Risk identification is the process of determining which risks may affect the project. It also
documents risks' characteristics.
Following are high-level phases that are involved in risk identification and evaluation:
Collecting data- Involves collecting data on the business environment, types of events, risk
categories, risk scenarios, etc., to identify relevant data to enable effective risk identification,
analysis and reporting.
Analyzing risk- Involves analyzing risk to develop useful information which is used while taking
risk-decisions. Risk-decisions take into account the business relevance of risk factors.
Maintain a risk profile- Requires maintaining an up-to-date and complete inventory of known
threats and their attributes (e.g., expected likelihood, potential impact, and disposition), IT
resources, capabilities, and controls as understood in the context of business products, services
and processes to effectively monitor risk over time. - B. Applying controls
- C. Maintain a risk profile
- D. Analyzing risk
- E. Collecting data
Answer: C,D,E
Explanation:
is incorrect. It comes under risk management process, and not in risk identification and
evaluation process.
NEW QUESTION # 22
Which of the following is the PRIMARY accountability for a control owner?
- A. Own the associated risk the control is mitigating.
- B. Identify and assess control weaknesses.
- C. Ensure the control operates effectively.
- D. Communicate risk to senior management.
Answer: C
NEW QUESTION # 23
Reviewing results from which of the following is the BEST way to identify information systems control deficiencies?
- A. Control self-assessment (CSA)
- B. Control remediation planning
- C. User acceptance testing (UAT)
- D. Vulnerability and threat analysis
Answer: A
NEW QUESTION # 24
You are working in an enterprise. You project deals with important files that are stored on the computer.
You have identified the risk of the failure of operations. To address this risk of failure, you have guided the system administrator sign off on the daily backup. This scenario is an example of which of the following?
- A. Risk acceptance
- B. Risk transference
- C. Risk avoidance
- D. Risk mitigation
Answer: D
Explanation:
Explanation/Reference:
Explanation:
Mitigation is the strategy that provides for the definition and implementation of controls to address the risk described. Here in this scenario, you are trying to reduce the risk of operation failure by guiding administrator to take daily backup, hence it is risk mitigation.
Risk mitigation attempts to reduce the probability of a risk event and its impacts to an acceptable level.
Risk mitigation can utilize various forms of control carefully integrated together. The main control types are:
Managerial(e.g.,policies)
Technical (e.g., tools such as firewalls and intrusion detection systems)
Operational (e.g., procedures, separation of duties)
Preparedness activities
Incorrect Answers:
A: The scenario does not describe risk avoidance. Avoidance is a strategy that provides for not implementing certain activities or processes that would incur risk.
B: The scenario does not describe the sharing of risk. Transference is the strategy that provides for sharing risk with partners or taking insurance coverage.
C: The scenario does not describe risk acceptance, Acceptance is a strategy that provides for formal acknowledgment of the existence of a risk and the monitoring of that risk.
NEW QUESTION # 25
An organization is considering outsourcing user administration controls for a critical system. The potential vendor has offered to perform quarterly self-audits of its controls instead of having annual independent audits.
Which of the following should be of GREATEST concern to the risk practitioner?
- A. Lack of a risk-based approach to access control
- B. The controls may not be properly tested
- C. The vendor will not achieve best practices
- D. The vendor will not ensure against control failure
Answer: D
Explanation:
Section: Volume D
Explanation/Reference:
NEW QUESTION # 26
A zero-day vulnerability has been discovered in a globally used brand of hardware server that allows hackers to gain access to affected IT systems. Which of the following is MOST likely to change as a result of this situation?
- A. Control effectiveness
- B. Risk likelihood
- C. Key risk indicator (KRI)
- D. Risk appetite
Answer: B
NEW QUESTION # 27
Which of the following would be MOST important for a risk practitioner to provide to the internal audit department during the audit planning process?
- A. Closed management action plans from the previous audit
- B. Annual risk assessment results
- C. A list of identified generic risk scenarios
- D. An updated vulnerability management report
Answer: A
NEW QUESTION # 28
A global company s business continuity plan (BCP) requires the transfer of its customer information....
event of a disaster. Which of the following should be the MOST important risk consideration?
- A. The difference In the management practices between each company
- B. The lack of a service level agreement (SLA) in the vendor contract
- C. The organizational culture differences between each country
- D. The cloud computing environment is shared with another company
Answer: D
NEW QUESTION # 29
Which of the following provides the MOST important information to facilitate a risk response decision?
- A. Industry best practices
- B. Key risk indicators
- C. Risk appetite
- D. Audit findings
Answer: C
NEW QUESTION # 30
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The CRISC exam is designed to test the knowledge and skills of professionals who work in IT risk management and information systems control. CRISC exam covers four main domains: risk identification, assessment, response, and monitoring. CRISC exam questions are designed to assess a candidate's ability to identify and analyze risks, evaluate the effectiveness of controls, and develop risk response plans. CRISC exam is also designed to test a candidate's knowledge of relevant laws, regulations, and industry standards related to IT risk management and information systems control.
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