Pass Exam Questions Efficiently With CRISC Questions (2024)
CRISC Questions - Truly Beneficial For Your ISACA Exam
NEW QUESTION # 247
From a risk management perspective, which of the following is the PRIMARY benefit of using automated system configuration validation tools?
- A. Staff costs are reduced.
- B. Operational costs are reduced.
- C. Residual risk is reduced.
- D. Inherent risk is reduced.
Answer: C
NEW QUESTION # 248
Which of the following decision tree nodes have probability attached to their branches?
- A. Explanation:
Event nodes represents the possible uncertain outcomes of a risky decision, with at least two nodes to illustrate the positive and negative range of events. Probabilities are always attached to the branches of event nodes. - B. End node
- C. Decision node
- D. Event node
- E. Root node
Answer: D
Explanation:
is incorrect. Root node is the starting node in the decision tree, and it has no branches. Answer: D is incorrect. It represents the choice available to the decision maker, usually between a risky choice and its non-risky counterpart. As it represents only the choices available to the decision makers, hence probability is not attached to it. Answer: is incorrect. End node represents the outcomes of risk and decisions and probability is not attached to it.
NEW QUESTION # 249
You are the project manager for TTP project. You are in the Identify Risks process. You have to create the risk register. Which of the following are included in the risk register?
Each correct answer represents a complete solution. Choose two.
- A. List of potential responses
- B. Explanation:
Risk register primarily contains the following: List of identified risks: A reasonable description of the identified risks is noted in the risk register. The description includes event, cause, effect, impact related to the risks identified. In addition to the list of identified risks, the root causes of those risks may appear in the risk register. List of potential responses: Potential responses to a risk may be identified during the Identify Risks process. These responses are useful as inputs to the Plan Risk Responses process. - C. List of mitigation techniques
- D. List of key stakeholders
- E. List of identified risks
Answer: A,B,E
Explanation:
is incorrect. Risk register do contain the summary of mitigation, but only after the applying risk response. Here in this scenario you are in risk identification phase, hence mitigation techniques cannot be documented at this situation. Answer:B is incorrect. This is not valid content of risk register. A risk register is an inventory of risks and exposure associated with those risks. Risks are commonly found in project management practices, and provide information to identify, analyze, and manage risks. Typically a risk register contains: A description of the risk The impact should this event actually occur The probability of its occurrence Risk Score (the multiplication of Probability and Impact) A summary of the planned response should the event occur A summary of the mitigation (the actions taken in advance to reduce the probability and/or impact of the event) Ranking of risks by Risk Score so as to highlight the highest priority risks to all involved.
NEW QUESTION # 250
Which of the following is the BEST way to identify changes in the risk profile of an organization?
- A. Interview the risk owner.
- B. Conduct a gap analysis
- C. Monitor key performance indicators (KPIs).
- D. Monitor key risk indicators (KRIs).
Answer: C
NEW QUESTION # 251
Who is accountable for risk treatment?
- A. Risk mitigation manager
- B. Enterprise risk management team
- C. Business process owner
- D. Risk owner
Answer: C
NEW QUESTION # 252
Tom works as a project manager for BlueWell Inc. He is determining which risks can affect the project.
Which of the following inputs of the identify risks process is useful in identifying risks, and provides a quantitative assessment of the likely cost to complete the scheduled activities?
- A. Activity cost estimates
- B. Cost management plan
- C. Risk management plan
- D. Activity duration estimates
Answer: A
Explanation:
Explanation/Reference:
Explanation:
The activity cost estimates review is valuable in identifying risks as it provides a quantitative assessment of the expected cost to complete the scheduled activities and is expressed as a range, with a width of the range indicating the degrees of risk.
Incorrect Answers:
A: The activity duration estimates review is valuable in identifying risks associated to the time allowances for the activities or projects as a whole, with a width of the range indicating the degrees of risk.
B: This is the output of plan risk management process. A Risk management plan is a document arranged by a project manager to estimate the effectiveness, predict risks, and build response plans to mitigate them. It also consists of the risk assessment matrix.
C: The cost management plan sets how the costs on a project are managed during the project's lifecycle. 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.
NEW QUESTION # 253
What is the IMMEDIATE step after defining set of risk scenarios?
- A. Risk analysis
- B. Risk management
- C. Risk mitigation
- D. Risk monitoring
Answer: A
Explanation:
Explanation/Reference:
Explanation:
Once the set of risk scenarios is defined, it can be used for risk analysis. In risk analysis, likelihood and impact of the scenarios are assessed. Important components of this assessment are the risk factors.
Incorrect Answers:
A: Risk mitigation is the latter step after analyzing risk.
B: Risk monitoring is the latter step after risk analysis and risk mitigation.
C: Risk analysis comes under risk management, therefore management is a generalized term, and is not the best answer for this question.
NEW QUESTION # 254
Which of the following processes is described in the statement below?
"It is the process of exchanging information and views about risks among stakeholders, such as groups, individuals, and institutions."
- A. Risk governance
- B. Risk identification
- C. Risk response planning
- D. Risk communication
Answer: D
Explanation:
Explanation/Reference:
Explanation:
Risk communication is the process of exchanging information and views about risks among stakeholders, such as groups, individuals, and institutions. Risk communication is mostly concerned with the nature of risk or expressing concerns, views, or reactions to risk managers or institutional bodies for risk management. The key plan to consider and communicate risk is to categorize and impose priorities, and acquire suitable measures to reduce risks. It is important throughout any crisis to put across multifaceted information in a simple and clear manner.
Risk communication helps in switching or allocating the information concerning risk among the decision- maker and the stakeholders. Risk communication can be explained more clearly with the help of the following definitions:
It defines the issue of what a group does, not just what it says.
It must take into account the valuable element in user's perceptions of risk.
It will be more valuable if it is thought of as conversation, not instruction.
Risk communication is a fundamental and continuing element of the risk analysis exercise, and the involvement of the stakeholder group is from the beginning. It makes the stakeholders conscious of the process at each phase of the risk assessment. It helps to guarantee that the restrictions, outcomes, consequence, logic, and risk assessment are undoubtedly understood by all the stakeholders.
Incorrect Answers:
C: A risk response ensures that the residual risk is within the limits of the risk appetite and tolerance of the enterprise. Risk response is process of selecting the correct, prioritized response to risk, based on the level of risk, the enterprise's risk tolerance and the cost and benefit of the particular risk response option.
Risk response ensures that management is providing accurate reports on:
The level of risk faced by the enterprise
The incidents' type that have occurred
Any alteration in the enterprise's risk profile based on changes in the risk environment
NEW QUESTION # 255
Which of the following is MOST important to communicate to senior management during the initial implementation of a risk management program?
- A. Regulatory compliance
- B. Best practices
- C. Desired risk level
- D. Risk ownership
Answer: A
NEW QUESTION # 256
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. Add more controls
- D. Perform Business Impact Analysis (BIA)
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 # 257
An organization has decided to postpone the assessment and treatment of several risk scenarios because stakeholders are unavailable. As a result of this decision, the risk associated with these new entries has been;
- A. transferred
- B. mitigated
- C. accepted.
- D. deferred
Answer: C
NEW QUESTION # 258
You are the risk professional of your enterprise. Your enterprise has introduced new systems in many departments. The business requirements that were to be addressed by the new system are still unfulfilled, and the process has been a waste of resources. Even if the system is implemented, it will most likely be underutilized and not maintained making it obsolete in a short period of time. What kind of risk is it?
- A. Business risk
- B. Inherent risk
- C. Residual risk
- D. Project risk
Answer: A
Explanation:
Explanation/Reference:
Explanation:
Business risk relates to the likelihood that the new system may not meet the user business needs, requirements and expectations. Here in this stem it is said that the business requirements that were to be addressed by the new system are still unfulfilled, therefore it is a business risk.
Incorrect Answers:
A: This is one of the components of risk. Inherent risk is the risk level or exposure without applying controls or other management actions into account. But here in this stem no description of control is given, hence it cannot be concluded whether it is an inherent risk or not.
C: Project risk are related to the delay in project deliverables. The project activities to design and develop the system exceed the limits of the financial resources set aside for the project. As a result, the project completion will be delayed. They are not related to fulfillment of business requirements.
D: This is one of the components of risk. Residual risk is the risk that remains after applying controls.
But here in this stem no description of control is given, hence it cannot be concluded whether it is a residual risk or not.
NEW QUESTION # 259
Which of the following would be a weakness in procedures for controlling the migration of changes to production libraries?
- A. Only operations personnel are authorized to access production libraries.
- B. The programming project leader solely reviews test results before approving the transfer to production.
- C. A synchronized migration of executable and source code from the test environment to the production environment is allowed.
- D. Test and production programs are in distinct libraries.
Answer: C
NEW QUESTION # 260
An organization has decided to implement an emerging technology and incorporate the new capabilities into its strategic business plan. Business operations for the technology will be outsourced. What will be the risk practitioner's PRIMARY role during the change?
- A. Updating risk appetite
- B. Managing third-party risk
- C. Managing the threat landscape
- D. Developing risk scenarios
Answer: D
NEW QUESTION # 261
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 Response Plan
- B. Communications Management Plan
- C. Project Management Plan
- D. Risk Management Plan
Answer: B
Explanation:
Section: Volume D
Explanation
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 # 262
An organization is participating in an industry benchmarking study that involves providing customer transaction records for analysis Which of the following is the MOST important control to ensure the privacy of customer information?
- A. Nondisclosure agreements (NDAs)
- B. Data cleansing
- C. Data encryption
- D. Data anonymization
Answer: B
NEW QUESTION # 263
To reduce the risk introduced when conducting penetration tests, the BEST mitigating control would be to:
- A. clearly define the project scope.
- B. notify network administrators before testing
- C. perform background checks on the vendor.
- D. require the vendor to sign a nondisclosure agreement
Answer: D
NEW QUESTION # 264
An organization's control environment is MOST effective when
- A. controls perform as intended.
- B. controls are implemented consistent
- C. control designs are reviewed periodically
- D. controls operate efficiently.
Answer: C
NEW QUESTION # 265
You work as a project manager for BlueWell Inc. You are preparing for the risk identification process. You will need to involve several of the project's key stakeholders to help you identify and communicate the identified risk events. You will also need several documents to help you and the stakeholders identify the risk events.
Which one of the following is NOT a document that will help you identify and communicate risks within the project?
- A. Stakeholder registers
- B. Activity cost estimates
- C. Risk register
- D. Activity duration estimates
Answer: C
Explanation:
Section: Volume D
Explanation:
Risk register is not an input to risk identification, but it is an output of risk identification.
Incorrect Answers:
A, B, C: These are an input to risk identification.
Identify Risks is the process of determining which risks may affect the project. It also documents risks' characteristics. The Identify Risks process is part of the Project Risk Management knowledge area. As new risks may evolve or become known as the project progresses through its life cycle, Identify Risks is an iterative process. The process should involve the project team so that they can develop and maintain a sense of ownership and responsibility for the risks and associated risk response actions. Risk Register is the only output of this process.
NEW QUESTION # 266
Which of the following is the BEST key performance indicator (KPI) to measure the effectiveness of an antivirus program?
- A. Number of false positives defected over a period of time
- B. Number of alerts generated by the anti-virus software
- C. Frequency of anti-vinjs software updates
- D. Percentage of IT assets with current malware definitions
Answer: D
NEW QUESTION # 267
A change management process has recently been updated with new testing procedures. The NEXT course of action is to:
- A. assess the maturity of the change management process
- B. conduct a cost-benefit analysis to justify the cost of the control
- C. monitor processes to ensure recent updates are being followed
- D. communicate to those who test and promote changes
Answer: D
Explanation:
Section: Volume D
Explanation
NEW QUESTION # 268
Which of the following would be a risk practitioner's BEST recommendation to help ensure cyber risk is assessed and reflected in the enterprise-level risk profile?
- A. Define cyber roles and responsibilities across the organization
- B. Conduct cyber risk awareness training tailored specifically for senior management
- C. Implement a cyber risk program based on industry best practices
- D. Manage cyber risk according to the organization's risk management framework
Answer: D
Explanation:
Section: Volume D
NEW QUESTION # 269
During the initial risk identification process for a business application, it is MOST important to include which of the following stakeholders?
- A. Internal audit
- B. Business process owners
- C. Application architecture team
- D. Business process consumers
Answer: B
NEW QUESTION # 270
Which of the following are the principles of access controls?
Each correct answer represents a complete solution. Choose three.
- A. Confidentiality
- B. Integrity
- C. Reliability
- D. Availability
Answer: A,B,D
Explanation:
Section: Volume A
Explanation:
The principles of access controls focus on availability, integrity, and confidentiality, as loss or danger is directly related to these three:
* 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.
NEW QUESTION # 271
An organization has outsourced its IT security operations to a third party. Who is ULTIMATELY accountable for the risk associated with the outsourced operations?
- A. The third party s management
- B. The control operators at the third party
- C. The organization's vendor management office
- D. The organization's management
Answer: D
NEW QUESTION # 272
......
Truly Beneficial For Your ISACA Exam: https://www.dumpstests.com/CRISC-latest-test-dumps.html
Download ISACA CRISC Sample Questions: https://drive.google.com/open?id=16CoZOVt9lS27zwDA4Q2NkUmsZ4xVvkko