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CRISC certification is beneficial for professionals who want to advance their careers in the field of risk management and information systems controls. The CRISC certification exam covers topics such as risk identification, assessment, and evaluation; risk response planning; risk monitoring and reporting; and IS control design and implementation. CRISC certified professionals are equipped with the knowledge and skills to identify and evaluate risks, design and implement effective IS controls, and monitor and report on IS risks and controls. The CRISC certification is an excellent way to demonstrate one’s expertise and credibility in the field of risk management and information systems controls.
The CRISC certification exam comprises four domains: Risk Identification, Assessment and Evaluation, Risk Response, Risk Monitoring, and IS Control Design and Implementation. These domains cover a wide range of topics, including risk assessment methodologies, risk response strategies, and the design and implementation of information systems controls.
Professionals who hold the CRISC certification are highly sought-after by employers as they can help organizations to manage and mitigate risks related to information systems. They are also able to help organizations to comply with various regulations and standards related to IT risk management. Certified in Risk and Information Systems Control certification is also beneficial for professionals who are seeking to advance their careers in the IT industry and for those who are looking to transition into IT risk management.
NEW QUESTION # 18
An effective control environment is BEST indicated by controls that:
- A. reduce the thresholds of key risk indicators (KRIs)
- B. minimize senior management's risk tolerance
- C. manage risk within the organization's risk appetite
- D. are cost-effective to implement
Answer: A
Explanation:
Section: Volume D
NEW QUESTION # 19
Which of the following would be a risk practitioner's GREATEST concern with the use of a vulnerability scanning tool?
- A. Inaccurate reporting of results
- B. Increased time to remediate vulnerabilities
- C. Network performance degradation
- D. Increased number of vulnerabilities
Answer: A
Explanation:
The greatest concern for a risk practitioner with the use of a vulnerability scanning tool is the inaccurate reporting of results. A vulnerability scanning tool is a software that scans the network or system for known vulnerabilities and generates a report of the findings. However, the tool may produce false positives (reporting vulnerabilities that do not exist) or false negatives (missing vulnerabilities that do exist). This can lead to incorrect risk assessment, ineffective risk response, and wasted resources. Increased time to remediate vulnerabilities, increased number of vulnerabilities, and network performance degradation are other possible concerns, but they are not as critical as the inaccurate reporting of results. 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 # 20
An organization is making significant changes to an application. At what point should the application risk profile be updated?
- A. During backlog scheduling
- B. After user acceptance testing (UAT)
- C. When reviewing functional requirements
- D. Upon release to production
Answer: B
NEW QUESTION # 21
To reduce costs, an organization is combining the second and third tines of defense in a new department that reports to a recently appointed C-level executive. Which of the following is the GREATEST concern with this situation?
- A. Cost reductions may negatively impact the productivity of other departments.
- B. The new structure is not aligned to the organization's internal control framework.
- C. The risk governance approach of the second and third lines of defense may differ.
- D. The independence of the internal third line of defense may be compromised.
Answer: D
NEW QUESTION # 22
Which of the following issues found during the review of a newly created disaster recovery plan (DRP) should be of MOST concern?
- A. Some critical business applications are not included in the plan
- B. The plan is not based on an internationally recognized framework
- C. The chief information security officer (CISO) has not approved the plan
- D. Several recovery activities will be outsourced
Answer: A
NEW QUESTION # 23
All business units within an organization have the same risk response plan for creating local disaster recovery plans. In an effort to achieve cost effectiveness, the BEST course of action would be to:
- A. centralize the risk response function at the enterprise level.
- B. outsource disaster recovery to an external provider.
- C. evaluate opportunities to combine disaster recovery plans.
- D. select a provider to standardize the disaster recovery plans.
Answer: C
Explanation:
Disaster recovery plans are essential for ensuring the continuity and resilience of business operations in the event of a disruption or disaster. However, creating and maintaining separate disaster recovery plans for each business unit may not be cost-effective or efficient, as it may result in duplication, inconsistency, or gaps in the plans. Therefore, the best course of action would be to evaluate opportunities to combine disaster recovery plans across the business units, where possible and appropriate. This would help to achieve economies of scale, standardization, and alignment of the plans, as well as reduce complexity and costs. However, this does not mean that all disaster recovery plans should be identical or centralized, as different business units may have different risk profiles, recovery objectives, and requirements. Therefore, the combined disaster recovery plans should still be tailored and customized to suit the specific needs and characteristics of each business unit. References = ISACA CRISC Review Manual, 7th Edition, Chapter 2, Section 2.3.2, page 71.
NEW QUESTION # 24
A risk practitioner recently discovered that sensitive data from the production environment is required for testing purposes in non-production environments. Which of the following i the BEST recommendation to address this situation?
- A. Mask data before being transferred to the test environment.
- B. Prevent the use of production data for test purposes
- C. Enable data encryption in the test environment
- D. Implement equivalent security in the test environment.
Answer: A
Explanation:
Masking data before being transferred to the test environment is the best recommendation to address the situation where sensitive data from the production environment is required for testing purposes in non-production environments. Data masking is a technique that replaces sensitive data elements with realistic but fictitious data, preserving the format, structure, and meaning of the original data. Data masking ensures that the test data is sufficiently anonymized and de-identified, while still maintaining its functionality and validity for testing purposes. Data masking also reduces the risk of data leakage, exposure, or breach in the test environment, which may have lower security controls than the production environment. The other options are not the best recommendations, as they do not adequately protect the sensitive data or meet the testing requirements. Enabling data encryption in the test environment may protect the data from unauthorized access, but it does not prevent the data from being decrypted by authorized users who may misuse or mishandle it.
Implementing equivalent security in the test environment may be costly, complex, or impractical, and it may not be feasible to replicate the same level of security controls as in the production environment. Preventing the use of production data for test purposes may not be possible or desirable, as production data may be required to ensure the accuracy, reliability, and quality of the testing results. References = P = NP: Cloud data protection in vulnerable non-production environments ...; Data masking secures sensitive data in non-production environments ...; CRISC EXAM TOPIC 2 LONG Flashcards | Quizlet
NEW QUESTION # 25
An organization is considering adopting artificial intelligence (AI). Which of the following is the risk practitioner's MOST important course of action?
- A. Ensure sufficient pre-implementation testing.
- B. Identify the organization's critical data.
- C. Identify applicable risk scenarios.
- D. Develop key risk indicators (KRIs).
Answer: C
Explanation:
* Artificial intelligence (AI) is a branch of computer science that aims to create machines or systems that can perform tasks that normally require human intelligence, such as learning, reasoning, decision making, etc.
* An organization that is considering adopting AI should be aware of the potential risks and challenges that may arise from using AI, such as ethical, legal, social, technical, operational, or security issues.
* The most important course of action for the risk practitioner is to identify applicable risk scenarios. This means that the risk practitioner should analyze the context and objectives of the AI adoption, the stakeholders and their expectations, the data and information sources and quality, the AI models and algorithms and their reliability, the AI outputs and outcomes and their impact, and the AI governance and oversight mechanisms and their effectiveness.
* Identifying applicable risk scenarios helps to assess the likelihood and impact of the risks, prioritize the risks, design and implement appropriate risk responses, monitor and evaluate the risk performance, and report and communicate the risk status and issues.
* The other options are not the most important courses of action for the risk practitioner. They are either secondary or not essential for AI risk management.
The references for this answer are:
* Risk IT Framework, page 24
* Information Technology & Security, page 18
* Risk Scenarios Starter Pack, page 16
NEW QUESTION # 26
An IT department has provided a shared drive for personnel to store information to which all employees have access. Which of the following parties is accountable for the risk of potential loss of confidential information?
- A. IT department
- B. End user
- C. Risk manager
- D. Data owner
Answer: D
Explanation:
The data owner is the person who has the authority and responsibility to classify, label, and protect the information assets of the organization. The data owner is accountable for the risk of potential loss of confidential information, as they are the ones who determine the level of protection and access required for the data. The risk manager is responsible for identifying, assessing, and mitigating the risks that may affect the organization, but they are not accountable for the data itself. The end user is the person who uses the information assets for their operational tasks, but they are not accountable for the data protection or classification. The IT department is responsible for providing the technical support and infrastructure for the information assets, but they are not accountable for the data ownership or risk management. References = Risk and Information Systems Control Study Manual, Chapter 2: IT Risk Assessment, Section 2.3: Data Classification, p. 69-70.
NEW QUESTION # 27
An effective control environment is BEST indicated by controls that:
- A. minimize senior management's risk tolerance.
- B. manage risk within the organization's risk appetite.
- C. reduce the thresholds of key risk indicators (KRIs).
- D. are cost-effective to implement
Answer: B
NEW QUESTION # 28
Which of the following presents the GREATEST risk to change control in business application development over the complete life cycle?
- A. Lack of an integrated development environment (IDE) tool
- B. Bypassing quality requirements before go-live
- C. Introduction of requirements that have not been approved
- D. Emphasis on multiple application testing cycles
Answer: C
NEW QUESTION # 29
You are the project manager of HGT project. You have identified project risks and applied appropriate response for its mitigation. You noticed a risk generated as a result of applying response. What this resulting risk is known as?
- A. Secondary risk
- B. High risk
- C. Pure risk
- D. Response risk
Answer: A
Explanation:
Section: Volume B
Explanation:
Secondary risk is a risk that is generated as the result of risk response.
Incorrect Answers:
A: A pure risk is a risk that has only a negative effect on the project. Pure risks are activities that are dangerous to complete and manage such as construction, electrical work, or manufacturing.
C, D: These terms are not applied for the risk that is generated as a result of risk response.
NEW QUESTION # 30
Which of the following nodes of the decision tree analysis represents the start point of decision tree?
- A. is incorrect. Decision nodes represents the choice available to the decision maker,
usually between a risky choice and its non-risky counterpart. - B. Event node
- C. End node
- D. Decision node
- E. Root node
- F. is incorrect. Event node represents the possible uncertain outcomes of a risky decision,
with at least two nodes to illustrate the positive and negative range of events. - G. Explanation:
Root node is the starting node in the decision tree.
Answer: A,E,F,G
Explanation:
is incorrect. End node represents the outcomes of risk and decisions.
NEW QUESTION # 31
Risks to an organization's image are referred to as what kind of risk?
- A. Information
- B. Explanation:
Strategic risks are those risks which have potential outcome of not fulfilling on strategic objectives of the organization as planned. Since the strategic objective will shape and impact the entire organization, the risk of not meeting that objective can impose a great threat on the organization. Strategic risks can be broken down into external and internal risks: External risks are those circumstances from outside the enterprise which will have a potentially damaging or helpful impact on the enterprise. These risks include sudden change of economy, industry, or regulatory conditions. Some of the external risks are predictable while others are not. For instance, a recession may be predictable and the enterprise may be able to hedge against the dangers economically; but the total market failure may not as predictable and can be much more devastating. Internal risks usually focus on the image or reputation of the enterprise. some of the risks that are involved in this are public communication, trust, and strategic agreement from stakeholders and customers.
Reference: CRISC, Contents: "Assessing Risks" - C. is incorrect. Risk associated with leakage of information to an unauthorized person does not affect organization's image.
- D. Strategic
- E. Operational
- F. Financial
- G. is incorrect. Financial risks are not directly linked with organization's reputation.
Answer: B,C,D,G
Explanation:
is incorrect. Operational risks are those risk that are associated with the day-to-day operations of the enterprise. They are generally more detailed as compared to strategic risks. It is the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events. Some sub-categories of operational risks include:
Organizational or management related risks
Information security risks
Production, process, and productivity risks
Profitability operational risks
Business interruption risks
Project activity risks
Contract and product liability riss
Incidents and crisis
Illegal or malicious acts
NEW QUESTION # 32
A rule-based data loss prevention {DLP) tool has recently been implemented to reduce the risk of sensitive data leakage Which of the following is MOST likely to change as a result of this implementation?
- A. Risk velocity
- B. Risk appetite
- C. Risk likelihood
- D. Risk impact
Answer: C
NEW QUESTION # 33
Which of the following documents is described in the statement below?
"It is developed along with all processes of the risk management. It contains the results of the qualitative risk analysis, quantitative risk analysis, and risk response planning."
- A. Risk register
- B. Risk management plan
- C. Explanation:
Risk register is a document that contains the results of the qualitative risk analysis, quantitative risk analysis, and risk response planning. Risk register is developed along with all processes of the risk management from Plan Risk Management through Monitor and Control Risks. - D. Quality management plan
- E. Project charter
- F. is incorrect. The quality management plan is a component of the project management plan. It describes how the project team will implement the organization's quality policy. The quality management plan addresses quality control (QC), quality assurance (QA), and continuous process improvement for the project. Based on the requirement of the project, the quality management plan may be formal or informal, highly detailed or broadly framed. Answer:B is incorrect. Risk management plan includes roles and responsibilities, risk analysis definitions, timing for reviews, and risk threshold. The Plan Risk Responses process takes input from risk management plan and risk register to define the risk response.
Answer: A
Explanation:
is incorrect. The project charter is the document that formally authorizes a project. The project charter provides the project manager with the authority to apply organizational resources to project activities.
NEW QUESTION # 34
According to the Section-302 of the Sarbanes-Oxley Act of 2002, what does certification of reports implies?
Each correct answer represents a complete solution. Choose three.
- A. The signing officer has presented in the report their conclusions about the effectiveness of their internal controls based on their evaluation as of that date.
- B. The signing officer has evaluated the effectiveness of the issuer's internal controls as of a date at the time to report.
- C. The signing officer has reviewed the report.
- D. The financial statement does not contain any materially untrue or misleading information.
Answer: A,C,D
Explanation:
Explanation/Reference:
Explanation:
Section 302 of Sarbanes-Oxley act has the tremendous impact on the risk management solution adopted by corporations. This section specifies that the reports must be certified by the CEO, CFO, or other senior officer performing similar functions.
Certification of reports establishes:
The signing officer has reviewed the report.
The financial statement does not contain, to the knowledge of signing officer, any materially untrue or
misleading information and represent fairly all financial conditions and results of the enterprise's operations.
The signing officers:
- are responsible for establishing and maintaining internal controls
- have designed such internal controls to ensure that material information relating to the issuer and its consolidated subsidiaries is made - known to such officers by others within those entities, particularly during the period in which the periodic reports are being prepared
- have evaluated the effectiveness of the issuer's internal controls as of a date within 90 days prior to the report
- have presented in the report their conclusions about the effectiveness of their internal controls base on their evaluation as of that date The signing officer have disclosed to external auditors, audit committee, and other directors:
- all significant deficiencies in the design or operation of internal controls which could adversely affect the reliability of the reported financial data
- any fraud, whether or not material, that involves management or other employees who have a significant role in the internal controls of the enterprise The signing officer have indicated in the report any internal controls or changes to those internal
controls which have been implemented since they were evaluated.
Incorrect Answers:
A: The signing officer has evaluated the effectiveness of the issuer's internal controls as of a date within 90 days prior to the report, not at the time of the report.
NEW QUESTION # 35
An organization has completed a project to implement encryption on all databases that host customer dat a. Which of the following elements of the risk register should be updated the reflect this change?
- A. Risk likelihood
- B. Risk appetite
- C. Risk tolerance
- D. Inherent risk
Answer: D
NEW QUESTION # 36
When developing risk scenarios, it is MOST important to ensure they are:
- A. comprehensive and detailed
- B. relevant and realistic
- C. structured and reportable
- D. flexible and scalable
Answer: B
Explanation:
Section: Volume D
NEW QUESTION # 37
Which one of the following is the only output for the qualitative risk analysis process?
- A. Risk register updates
- B. Enterprise environmental factors
- C. Organizational process assets
- D. Project management plan
Answer: A
Explanation:
Section: Volume B
Explanation:
Risk register update is the only output of the choices presented for the qualitative risk analysis process. The four inputs for the qualitative risk analysis process are the risk register, risk management plan, project scope statement, and organizational process assets. The output of perform qualitative risk analysis process is Risk Register Updates. Risk register is updated with the information from perform qualitative risk analysis and the updated risk register is included in the project documents. Updates include the following important elements:
* Relative ranking or priority list of project risks
* Risks grouped by categories
* Causes of risk or project areas requiring particular attention
* List of risks requiring response in the near-term
* List of risks for additional analysis and response
* Watchlist of low priority risks
* Trends in qualitative risk analysis results
Incorrect Answers:
A, C, D: These are not the valid outputs for the qualitative risk analysis process.
NEW QUESTION # 38
Which of the following elements of a risk register is MOST likely to change as a result of change in management's risk appetite?
- A. Risk velocity
- B. Inherent risk
- C. Key risk indicator (KRI) thresholds
- D. Risk likelihood and impact
Answer: C
Explanation:
According to the CRISC Review Manual (Digital Version), key risk indicator (KRI) thresholds are the most likely elements of a risk register to change as a result of change in management's risk appetite, as they reflect the acceptable levels of risk exposure for the organization. KRI thresholds are the values or ranges that trigger an alert or a response when the actual KRI values deviate from the expected or desired values. KRI thresholds help to:
* Monitor and measure the current risk levels and performance of the IT assets and processes
* Identify and report any risk issues or incidents that may require attention or action
* Evaluate the effectiveness and efficiency of the risk response actions and controls
* Align the risk management activities and decisions with the organization's risk appetite and risk tolerance If the management's risk appetite changes, the KRI thresholds may need to be adjusted accordingly to ensure that the risk register reflects the current risk preferences and expectations of the organization.
References = CRISC Review Manual (Digital Version), Chapter 4: IT Risk Monitoring and Reporting, Section
4.1: IT Risk Monitoring, pp. 217-2181
NEW QUESTION # 39
A risk assessment has identified increased losses associated with an IT risk scenario. It is MOST important for the risk practitioner to:
- A. reevaluate inherent risk.
- B. implement additional controls.
- C. update the risk rating.
- D. develop new risk scenarios.
Answer: C
NEW QUESTION # 40
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