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The CRISC exam covers four main domains: risk identification, assessment, response, and monitoring. Candidates are tested on their knowledge of risk management frameworks, methodologies, and tools, as well as their ability to analyze and evaluate risks related to information systems. CRISC exam also assesses the candidate's understanding of the business context of risk management, including the role of stakeholders, governance structures, and regulatory requirements. Overall, the CRISC certification is an excellent choice for IT professionals who want to demonstrate their expertise in managing risks related to information systems and advance their careers in this field.
NEW QUESTION # 370
Which of the following is the BEST evidence that risk management is driving business decisions in an organization?
- A. Compliance breaches are addressed in a timely manner.
- B. Risk treatment options receive adequate funding.
- C. Residual risk is within risk tolerance.
- D. Risk ownership is identified and assigned.
Answer: B
Explanation:
Risk treatment options are the actions or plans that are implemented to modify or reduce the risk exposure of the organization. Risk treatment options receive adequate funding when the organization allocates sufficient resources and budget to support the risk response actions, and to ensure that the risk controls are effective and efficient. This is the best evidence that risk management is driving business decisions in the organization, as it shows that the organization prioritizes and values the risk management process, and that it aligns its risk strategy and objectives with its business goals and value creation. References = ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, Question 245. CRISC:
Certified in Risk & Information Systems Control Sample Questions, Question 245. CRISC Sample Questions
2024, Question 245.
NEW QUESTION # 371
Which of the following is a PRIMARY objective of privacy impact assessments (PIAs)?
- A. To ensure compliance with data privacy laws and regulations
- B. To identify threats introduced by business processes
- C. To identify risk when personal information is collected
- D. To ensure senior management has approved the use of personal information
Answer: A
NEW QUESTION # 372
John 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 associated to the time allowances for the activities or projects as a whole, with a width of the range indicating the degrees of risk?
- A. Risk management plan
- B. Schedule management plan
- C. Activity duration estimates
- D. Activity cost estimates
- E. Explanation:
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.
Answer: C
Explanation:
is incorrect. The activity cost estimates review is valuable in identifying risks as it provides a quantitative assessment of the expected cost to complete scheduled activities and is expressed as a range, with a width of the range indicating the degrees of risk. Answer: D is incorrect. It describes how the schedule contingencies will be reported and assessed. Answer: C is incorrect. 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.
NEW QUESTION # 373
You are the project manager of the HGT project in Bluewell Inc. The project has an asset valued at $125,000 and is subjected to an exposure factor of 25 percent. What will be the Single Loss Expectancy of this project?
- A. $ 125,025
- B. $ 3,125,000
- C. $ 31,250
- D. $ 5,000
Answer: C
Explanation:
Section: Volume A
Explanation:
The Single Loss Expectancy (SLE) of this project will be $31,250.
Single Loss Expectancy is a term related to Quantitative Risk Assessment. It can be defined as the monetary value expected from the occurrence of a risk on an asset. It is mathematically expressed as follows:
Single Loss Expectancy (SLE) = Asset Value (AV) * Exposure Factor (EF)
where the Exposure Factor represents the impact of the risk over the asset, or percentage of asset lost. As an example, if the Asset Value is reduced two third, the exposure factor value is .66. If the asset is completely lost, the Exposure Factor is 1.0. The result is a monetary value in the same unit as the Single Loss Expectancy is expressed.
Therefore,
SLE = Asset Value * Exposure Factor
= 125,000 * 0.25
= $31,250
Incorrect Answers:
A, C, D: These are not SLEs of this project.
NEW QUESTION # 374
Using key risk indicators (KRIs) to illustrate changes in the risk profile PRIMARILY helps to:
- A. communicate risk trends to stakeholders.
- B. highlight noncompliance with the risk policy
- C. identify threats to emerging technologies.
- D. assign ownership of emerging risk scenarios.
Answer: A
Explanation:
The primary purpose of using key risk indicators (KRIs) to illustrate changes in the risk profile is to communicate risk trends to stakeholders. KRIs are metrics that provide an early warning of increasing risk exposure in various areas of the organization. By using KRIs to illustrate changes in the risk profile, the organization can communicate the risk trends to the stakeholders, such as the board, senior management, business units, and external parties, and enable them to take appropriate actions to manage the risk. Assigning ownership of emerging risk scenarios, highlighting noncompliance with the risk policy, and identifying threats to emerging technologies are other possible purposes, but they are not as important as communicating risk trends to stakeholders. References = ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, question 12; CRISC Review Manual, 6th Edition, page 215.
NEW QUESTION # 375
A risk owner should be the person accountable for:
- A. managing controls.
- B. the business process.
- C. implementing actions.
- D. the risk management process
Answer: B
NEW QUESTION # 376
Which of the following is of GREATEST concern when uncontrolled changes are made to the control environment?
- A. A decrease in control layering effectiveness
- B. An increase in control vulnerabilities
- C. An increase in the level of residual risk
- D. An increase in inherent risk
Answer: C
Explanation:
* The control environment is the set of internal and external factors and conditions that influence and shape the organization's governance, risk management, and control functions. It includes the organization's culture, values, ethics, structure, roles, responsibilities, policies, standards, etc.
* Uncontrolled changes are changes or modifications to the control environment that are not planned, authorized, documented, or monitored, and that may have unintended or adverse consequences for the organization. Uncontrolled changes may be caused by various drivers or events, such as technological innovations, market trends, regulatory changes, customer preferences, competitor actions, environmental issues, etc.
* The greatest concern when uncontrolled changes are made to the control environment is an increase in the level of residual risk, which is the amount and type of risk that remains after the implementation and execution of the risk responses or controls. An increase in the level of residual risk means that the risk responses or controls are not effective or sufficient to mitigate or prevent the risks, and that the organization may face unacceptable or intolerable consequences if the risks materialize.
* An increase in the level of residual risk is the greatest concern when uncontrolled changes are made to the control environment, because it indicates that the organization's risk profile and performance have deteriorated, and that the organization may not be able to achieve its objectives or protect its value. It
* also indicates that the organization's risk appetite and tolerance have been violated, and that the organization may need to take corrective or compensating actions to restore the balance between risk and return.
* The other options are not the greatest concerns when uncontrolled changes are made to the control environment, because they do not indicate the actual or potential impact or outcome of the risks, and they may not be relevant or actionable for the organization.
* A decrease in control layering effectiveness means a decrease in the extent or degree to which the organization uses multiple or overlapping controls to address the same or related risks, and to provide redundancy or backup in case of failure or compromise of one or more controls. A decrease in control layering effectiveness may indicate a weakness or gap in the organization's control design or implementation, but it does not indicate the actual or potential impact or outcome of the risks, and it may not be relevant or actionable for the organization, unless the control layering is required or recommended by the organization's policies or standards.
* An increase in inherent risk means an increase in the amount and type of risk that exists in the absence of any risk responses or controls, and that is inherent to the nature or characteristics of the risk source, event, cause, or impact. An increase in inherent risk may indicate a change or variation in the organization's risk exposure or level, but it does not indicate the actual or potential impact or outcome of the risks, and it may not be relevant or actionable for the organization, unless the inherent risk exceeds the organization's risk appetite or tolerance.
* An increase in control vulnerabilities means an increase in the number or severity of the weaknesses or flaws in the organization's risk responses or controls that can be exploited or compromised by the threats or sources of harm that may affect the organization's objectives or operations. An increase in control vulnerabilities may indicate a weakness or gap in the organization's control design or implementation, but it does not indicate the actual or potential impact or outcome of the risks, and it may not be relevant or actionable for the organization, unless the control vulnerabilities are exploited or compromised by the threats or sources of harm.
References =
* ISACA, CRISC Review Manual, 7th Edition, 2022, pp. 19-20, 23-24, 27-28, 31-32, 40-41, 47-48,
54-55, 58-59, 62-63
* ISACA, CRISC Review Questions, Answers & Explanations Database, 2022, QID 174
* CRISC Practice Quiz and Exam Prep
NEW QUESTION # 377
Which of the following BEST supports the integration of IT risk management into an organization's strategic planning?
- A. Incentive plans that reward employees based on IT risk metrics
- B. A comprehensive and documented IT risk management plan
- C. Clearly defined organizational goals and objectives
- D. Regular organization-wide risk awareness training
Answer: C
Explanation:
Clearly defined organizational goals and objectives provide the foundation for integrating IT risk management into strategic planning. When risk management aligns with the organization's strategic direction, it becomes a core component of decision-making. While a documented IT risk management plan (Option B), incentive plans (Option C), and risk awareness training (Option D) are supportive measures, they are not as fundamental as aligning risk management with organizational goals.
References:
* ISACA CRISC Review Manual, Domain 1: IT Risk Identification - Emphasizes the importance of aligning risk management with organizational objectives.
* ISACA CRISC Job Practice, Task 1.1: Identify the universe of IT risk to contribute to the execution of the IT risk management strategy.
NEW QUESTION # 378
An organization has just started accepting credit card payments from customers via the corporate website.
Which of the following is MOST likely to increase as a result of this new initiative?
- A. Risk appetite
- B. Residual risk
- C. Risk tolerance
- D. Inherent risk
Answer: D
Explanation:
Section: Volume D
NEW QUESTION # 379
Who is the BEST person to an application system used to process employee personal data?
- A. Compliance manager
- B. Human resources (HR) manager
- C. Data privacy manager
- D. System administrator
Answer: C
Explanation:
The data privacy manager is the best person to an application system used to process employee personal data, because they are responsible for ensuring that the organization complies with the applicable data protection laws and regulations, and that the personal data of employees are collected, stored, processed, and disposed of in a secure and ethical manner. The data privacy manager is also responsible for establishing and maintaining the data privacy policies, procedures, and controls, and for conducting data privacy impact assessments and audits. The compliance manager, the system administrator, and the human resources (HR) manager are all involved in the of the application system, but they are not the best person to it, as they do not have the primary accountability and expertise for data privacy. References = Risk and Information Systems Control Study Manual, Chapter 4, Section 4.3.2, page 158
NEW QUESTION # 380
A large organization needs to report risk at all levels for a new centralized visualization project to reduce cost and improve performance. Which of the following would MOST effectively represent the overall risk of the project to senior management?
- A. Aggregated key performance indicators (KPls)
- B. Key risk indicators (KRIs)
- C. Centralized risk register
- D. Risk heat map
Answer: D
Explanation:
A risk heat map is a graphical tool that displays the overall risk of the project to senior management by showing the probability and impact of individual risks in a matrix format. A risk heat map can help to prioritize the risks, communicate the risk exposure, and monitor the risk response. A risk heat map can also show the risk appetite and tolerance levels of the organization, as well as the residual risk after the risk response. The other options are not the most effective ways to represent the overall risk of the project to senior management, although they may be useful or complementary to the risk heat map. Aggregated key performance indicators (KPIs) are metrics that measure the performance of the project against the objectives, but they do not show the uncertainty or variability of the project outcomes. Key risk indicators (KRIs) are metrics that measure the level of risk or the effectiveness of the risk response, but they do not show the relationship between the probability and impact of the risks. A centralized risk register is a document that records the details of the individual risks, such as the description, category, cause, effect, probability, impact, response, and status, but it does not show the overall risk of the project in a visual or concise way. References = Managing overall project risk, Project Risk Management - Quick Reference Guide, 10 Common Project Risks (Plus the Steps To Solve Them), What Is Project Risk Management: Benefits, Challenges, Best Practices
NEW QUESTION # 381
Which of the following is the MOST effective way to help ensure an organization's current risk scenarios are relevant?
- A. Adoption of industry best practices
- B. Documentation of potential risk in business cases
- C. Involvement of stakeholders in risk assessment
- D. Review of risk scenarios by independent parties
Answer: C
Explanation:
The MOST effective way to help ensure an organization's current risk scenarios are relevant is to involve the stakeholders in the risk assessment process, because they are the ones who have the knowledge, experience, and interest in the risk scenarios that affect their domains and objectives. The involvement of stakeholders can help to identify and validate the risk scenarios, to provide input and feedback on the risk analysis and evaluation, and to ensure the alignment and integration of the risk scenarios with the business processes and goals. The other options are not as effective as the involvement of stakeholders, because:
Option A: Adoption of industry best practices is a good way to improve the quality and consistency of the risk scenarios, but it does not ensure their relevance to the organization's specific context and environment.
Industry best practices are general and standardized guidelines that may not reflect the organization's unique risks and needs.
Option C: Review of risk scenarios by independent parties is a useful way to verify and enhance the accuracy and reliability of the risk scenarios, but it does not ensure their relevance to the organization's internal and external stakeholders. Independent parties are objective and impartial reviewers who may not have the same knowledge, experience, and interest as the stakeholders.
Option D: Documentation of potential risk in business cases is a helpful way to communicate and justify the importance and value of the risk scenarios, but it does not ensure their relevance to the organization's current and future state. Business cases are concise and persuasive documents that may not capture all the aspects and dimensions of the risk scenarios. References = Risk and Information Systems Control Study Manual, 7th Edition, ISACA, 2020, p. 104.
NEW QUESTION # 382
Sensitive data has been lost after an employee inadvertently removed a file from the premises, in violation of organizational policy. Which of the following controls MOST likely failed?
- A. Policy management
- B. User access
- C. Awareness training
- D. Background checks
Answer: C
Explanation:
Awareness training is the most likely control that failed in this scenario, as it is designed to educate employees on the proper handling and protection of sensitive data, and the consequences of violating the organizational policy. Awareness training can help to prevent or reduce the occurrence of human errors, such as inadvertently removing a file from the premises, that may result in data loss or breach. The other options are not the most likely controls that failed, as they are either not directly related to the scenario or not sufficient to prevent the incident. Background checks are used to verify the identity, qualifications, and trustworthiness of potential or current employees, but they do not ensure that employees will always follow the policy or avoid mistakes. User access is used to restrict the access to information systems or resources based on the identity, role, or credentials of the user, but it does not prevent the user from copying or removing the data once they have access. Policy management is used to create, communicate, and enforce the organizational policy, but it does not ensure that employees will understand or comply with the policy. References = Sensitive Data Essentials - The Lifecycle Of A Sensitive File; Personal data breach examples | ICO; How do I prevent staff accidentally sending personal information ... - GCIT; 10 Ways to Protect Sensitive Employee Information; My personal data has been lost after a breach, what are my rights ...
NEW QUESTION # 383
Which of the following BEST enables an organization to determine whether external emerging risk factors will impact the organization's risk profile?
- A. Control identification and mitigation
- B. Scenario analysis and stress testing
- C. Adoption of a compliance-based approach
- D. Prevention and detection techniques
Answer: B
NEW QUESTION # 384
Who is BEST suited to provide information to the risk practitioner about the effectiveness of a technical control associated with an application?
- A. Process owner
- B. System owner
- C. Internal auditor
- D. Risk owner
Answer: B
Explanation:
Role of the System Owner:
* The system owner is responsible for the overall operation and management of an application or system.
This includes ensuring that technical controls are implemented and functioning as intended.
* They have detailed knowledge of the system's architecture, the controls in place, and how those controls are applied within the system.
Effectiveness of Technical Controls:
* Assessing the effectiveness of a technical control requires understanding its implementation, configuration, and operational context.
* The system owner is best positioned to provide this information as they manage and oversee the technical environment of the application.
Comparing Other Roles:
* Internal Auditor: While auditors review and evaluate the effectiveness of controls, they do so from an independent standpoint and might not have detailed, day-to-day operational insights.
* Process Owner: The process owner focuses on business processes rather than technical controls specific to an application.
* Risk Owner: The risk owner is responsible for managing risk but may not have the technical expertise or detailed operational knowledge of the system.
Supporting Information:
* According to the CRISC Review Manual, the system owner is often involved in the assessment and reporting of control effectiveness, especially regarding technical controls (CRISC Review Manual,
* Chapter 3: Risk Response and Mitigation, Section 3.1.3 Assessing Control Effectiveness) .
NEW QUESTION # 385
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The Certified in Risk and Information Systems Control (CRISC) certification exam is a globally recognized certification for professionals in the field of information systems and security. Certified in Risk and Information Systems Control certification is provided by ISACA (Information Systems Audit and Control Association), a non-profit organization that provides education and certification to professionals in the field of information technology and security.
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