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NEW QUESTION # 230
Which of the following is NOT true for Key Risk Indicators?
- A. The complete set of KRIs should also balance indicators for risk, root causes and business impact.
- B. They are monitored annually
- C. They help avoid having to manage and report on an excessively large number of risk indicators
- D. They are selected as the prime monitoring indicators for the enterprise
Answer: B
Explanation:
Explanation/Reference:
Explanation:
They are monitored on regular basis as they indicate high probability and high impact risks. As risks change over time, hence KRIs should also be monitored regularly for its effectiveness on these changing risks.
Incorrect Answers:
A, B, C: These all are true for KRIs. Key Risk Indicators are the prime monitoring indicators of the enterprise. KRIs are highly relevant and possess a high probability of predicting or indicating important risk.
KRIs help in avoiding excessively large number of risk indicators to manage and report that a large enterprise may have.
The complete set of KRIs should also balance indicators for risk, root causes and business impact, so as to indicate the risk and its impact completely.
NEW QUESTION # 231
Which of the following should be management's PRIMARY focus when key risk indicators (KRIs) begin to rapidly approach defined thresholds?
- A. Assessing the effectiveness of the incident response plan
- B. Determining what has changed in the environment
- C. Designing compensating controls
- D. Determining if KRIs have been updated recently
Answer: B
NEW QUESTION # 232
An organization practices the principle of least privilege. To ensure access remains appropriate, application owners should be required to review user access rights on a regular basis by obtaining:
- A. business purpose documentation and software license counts
- B. documentation indicating the intended users of the application
- C. an access control matrix and approval from the user's manager
- D. security logs to determine the cause of invalid login attempts
Answer: C
Explanation:
The best way to ensure that access remains appropriate for an organization that practices the principle of least privilege is to review user access rights on a regular basis by obtaining an access control matrix and approval from the user's manager. An access control matrix is a table that shows the access rights and permissions of each user or role for each resource or function. An access control matrix helps to verify that the users have the minimum level of access required to perform their duties, and to identify any unauthorized or excessive access rights. Approval from the user's manager helps to confirm that the user's access rights are consistent with their current role and responsibilities, and to authorize any changes or exceptions as needed. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 3, Section 3.2.2, page 1281
NEW QUESTION # 233
During a control review, the control owner states that an existing control has deteriorated over time. What is the BEST recommendation to the control owner?
- A. Discuss risk mitigation options with the risk owner
- B. Escalate the issue to senior management
- C. Implement compensating controls to reduce residual risk
- D. Certify the control after documenting the concern
Answer: C
Explanation:
Section: Volume D
NEW QUESTION # 234
What can be determined from the risk scenario chart?
- A. The multiple risk factors addressed by a chosen response
- B. Capability of enterprise to implement
- C. Relative positions on the risk map
- D. Risk treatment options
Answer: C
NEW QUESTION # 235
Which of the following will BEST mitigate the risk associated with IT and business misalignment?
- A. Establishing business key performance indicators (KPIs)
- B. Introducing an established framework for IT architecture
- C. Establishing key risk indicators (KRIs)
- D. Involving the business process owner in IT strategy
Answer: D
Explanation:
IT and business misalignment is the risk that the IT objectives, plans, and activities are not aligned with the business goals, needs, and expectations. This can result in wasted resources, missed opportunities, poor performance, and customer dissatisfaction. One of the best ways to mitigate this risk is to involve the business process owner in IT strategy. The business process owner is the person who has the authority and responsibility for a specific business process and its outcomes. By involving the business process owner in IT strategy, the organization can ensure that the IT initiatives and solutions are relevant, effective, and beneficial for the business process and its stakeholders. The business process owner can also provide valuable input, feedback, and support for the IT strategy and its implementation. The other options are not the best ways to mitigate the risk associated with IT and business misalignment, although they may be helpful and complementary. Establishing business key performance indicators (KPIs) is a technique to measure and monitor the achievement of business objectives and outcomes. However, KPIs do not necessarily ensure that the IT strategy is aligned with the business strategy or that the IT activities support the business activities.
Introducing an established framework for IT architecture is a method to design and implement the IT infrastructure, systems, and services in a consistent and coherent manner. However, an IT architecture framework does not guarantee that the IT architecture is aligned with the business architecture or that the IT capabilities meet the business requirements. Establishing key risk indicators (KRIs) is a tool to monitor and communicate the level of exposure to a given risk or the potential impact of a risk. However, KRIs do not directly address the risk of IT and business misalignment or the actions needed to align them. References = CRISC Review Manual, pages 22-231; CRISC Review Questions, Answers & Explanations Manual, page 76
NEW QUESTION # 236
Which of the following is the GREATEST benefit of incorporating IT risk scenarios into the corporate risk developer?
- A. Corporate incident escalation protocols are established
- B. Exposure is integrated into the organization's risk profile
- C. The organization-wide control budget is expanded
- D. Risk appetite cascades to business unit management
Answer: A
Explanation:
Section: Volume D
NEW QUESTION # 237
After identifying new risk events during a project, the project manager s NEXT step should be to:
- A. record the scenarios into the risk register.
- B. determine if the scenarios need 10 be accepted or responded to.
- C. continue with a quantitative risk analysis.
- D. continue with a qualitative risk analysis.
Answer: A
Explanation:
After identifying new risk events during a project, the project manager's next step should be to record the scenarios into the risk register, which is a document that records and tracks the identified risks, their causes, impacts, likelihood, responses, owners, and status. Recording the scenarios into the risk register helps to document and communicate the risks to the project team and stakeholders, and to facilitate the subsequent risk analysis and response processes. The other options are not the next steps, but rather the subsequent steps after recording the scenarios into the risk register. Determining if the scenarios need to be accepted or responded to is part of the risk evaluation and treatment process, which requires a prior risk analysis. Continuing with a qualitative or quantitative risk analysis is part of the risk assessment process, which requires a prior risk identification and documentation. References = Risk Register: A Project Manager's Guide with Examples
[2023] * Asana; Risk Identification in Project Management; 6.3. The 5 Steps of the Risk Management Process
NEW QUESTION # 238
Which of the following are external risk factors?
Each correct answer represents a complete solution. Choose three.
- A. Geopolitical situation
- B. Competition
- C. Complexity of the enterprise
- D. Explanation:
These three are external risk factors as they lie outside the enterprise's control. - E. Market
Answer: A,B,D
Explanation:
is incorrect. This includes geographic spread and value chain coverage (for example, in
a manufacturing environment). That is why it is internal risk factor.
NEW QUESTION # 239
To which level the risk should be reduced to accomplish the objective of risk management?
- A. To a level that an organization can mitigate
- B. To a level where ALE is lower than SLE
- C. To a level that an organization can accept
- D. To a level where ARO equals SLE
Answer: C
Explanation:
Section: Volume C
Explanation:
The main objective of risk management is to reduce risk to a level that the organization or company will accept, as the risk can never be completely eliminated.
Incorrect Answers:
A, B: There are no such concepts existing in manipulating risk level.
D: Risk mitigation involves identification, planning, and conduct of actions for reducing risk. Because the elimination of all risk is usually impractical or close to impossible, it is aimed at reducing risk to an acceptable level with minimal adverse impact on the organization's resources and mission.
NEW QUESTION # 240
The PRIMARY benefit of conducting continuous monitoring of access controls is the ability to identify:
- A. leading or lagging key risk indicators (KRIs)
- B. unknown threats to undermine existing access controls
- C. inconsistencies between security policies and procedures
- D. possible noncompliant activities that lead to data disclosure
Answer: B
NEW QUESTION # 241
Reviewing historical risk events is MOST useful for which of the following processes within the risk management life cycle?
- A. Risk monitoring
- B. Risk assessment
- C. Risk mitigation
- D. Risk aggregation
Answer: B
Explanation:
Section: Volume D
NEW QUESTION # 242
Which of the following is the MAIN benefit of involving stakeholders in the selection of key risk indicators (KRIs)?
- A. Improving risk awareness
- B. Obtaining buy-in from risk owners
- C. Leveraging existing metrics
- D. Optimizing risk treatment decisions
Answer: B
Explanation:
Section: Volume D
NEW QUESTION # 243
Which of the following is MOST important to compare against the corporate risk profile?
- A. Industry benchmarks
- B. Risk tolerance
- C. Risk appetite
- D. Regulatory compliance
Answer: B
Explanation:
Risk tolerance is the amount and type of risk that an organization is willing to accept in pursuit of its objectives. Risk tolerance is an important component of the corporate risk profile, as it defines the boundaries and limits of the acceptable risk exposure for the organization. Comparing the risk tolerance against the corporate risk profile can help to ensure that the organization's risk strategy and objectives are aligned with its risk appetite and capacity, and that the organization is not taking on more risk than it can handle or afford.
Comparing the risk tolerance against the corporate risk profile can also help to monitor and adjust the risk management process and controls, and to optimize the risk-return trade-off. References = ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, Question
249. CRISC: Certified in Risk & Information Systems Control Sample Questions, Question 249. CRISC Sample Questions 2024, Question 249. CRISC by Isaca Actual Free Exam Q&As, Question 9.
NEW QUESTION # 244
The BEST key performance indicator (KPI) to measure the effectiveness of a vulnerability remediation program is the number of:
- A. vulnerability scans.
- B. recurring vulnerabilities.
- C. vulnerabilities remediated,
- D. new vulnerabilities identified.
Answer: C
NEW QUESTION # 245
Which of the following is the GREATEST benefit of incorporating IT risk scenarios into the corporate risk register?
- A. Corporate incident escalation protocols are established.
- B. Exposure is integrated into the organization's risk profile.
- C. The organization-wide control budget is expanded.
- D. Risk appetite cascades to business unit management
Answer: B
Explanation:
* IT risk scenarios are hypothetical situations that describe the sources, causes, and consequences of IT-related risks, and the potential impacts on the organization's objectives, performance, and value creation12.
* A corporate risk register is a document that records and tracks the significant risks that the organization faces, and the responses and actions that are taken to address them34.
* The greatest benefit of incorporating IT risk scenarios into the corporate risk register is that exposure is integrated into the organization's risk profile, which is a comprehensive and integrated representation of the risks that may affect the organization's objectives, performance, and value creation56.
* Exposure is integrated into the organization's risk profile means that the organization has a complete and consistent view of the IT risk landscape, and the potential impacts and interdependencies of IT risks on other types of risks, such as financial, operational, strategic, or reputational risks56.
* Exposure is integrated into the organization's risk profile also means that the organization can make informed and balanced decisions on the risk responses and actions, and allocate the appropriate resources and priorities to the IT risk management and control processes56.
* The other options are not the greatest benefit, but rather possible outcomes or consequences of incorporating IT risk scenarios into the corporate risk register. For example:
* Corporate incident escalation protocols are established is an outcome of incorporating IT risk scenarios into the corporate risk register that indicates the organization has defined and implemented the procedures and mechanisms for reporting and resolving IT-related incidents, and for escalating them to the appropriate authorities or levels when necessary78. However, this outcome does not measure or reflect the exposure or the risk profile of the organization, which may depend on other factors such as the frequency, severity, or complexity of the incidents78.
* Risk appetite cascades to business unit management is a consequence of incorporating IT risk scenarios into the corporate risk register that indicates the organization has communicated and aligned the risk appetite, which is the amount and type of risk that the organization is willing to accept or pursue, to the business unit management, who are responsible for executing the risk strategy and objectives at the operational level . However, this consequence does not indicate or imply the exposure or the risk profile of the organization, which may vary depending on the context, environment, or stakeholder expectations .
* The organization-wide control budget is expanded is an outcome of incorporating IT risk scenarios into the corporate risk register that indicates the organization has increased the amount of resources and funds that are allocated to the control processes, which are the procedures and activities that aim to ensure the effectiveness and efficiency of the organization's operations, the
* reliability of its information, and the compliance with its policies and regulations . However, this outcome does not affect or determine the exposure or the risk profile of the organization, which is independent of the control budget . References =
* 1: IT Risk Scenarios - Morland-Austin3
* 2: Risk Scenarios Toolkit, ISACA, 2019
* 3: Risk Register Template and Examples | Prioritize and Manage Risk1
* 4: Risk Register Examples for Cybersecurity Leaders4
* 5: Risk IT Framework, ISACA, 2009
* 6: IT Risk Management Framework, University of Toronto, 2017
* 7: Security Incident Reporting and Response, University of Toronto, 2017
* 8: Security Incident Reporting and Response, ISACA, 2019
* : Risk Appetite: Linking Strategy, Risk and Performance, ISACA, 2012
* : Risk Appetite and Tolerance, ISACA Journal, Volume 4, 2013
* : The Control Process | Principles of Management2
* : Control Management: What it is + Why It's Essential | Adobe Workfront5
NEW QUESTION # 246
You are the risk official in Techmart Inc. You are asked to perform risk assessment on the impact of losing a network connectivity for 1 day. Which of the following factors would you include?
- A. Aggregate compensation of all affected business users.
- B. Hourly billing rate charged by the carrier
- C. Value that enterprise get on transferring data over the network
- D. Financial losses incurred by affected business units
- E. Explanation:
The impact of network unavailability is the cost it incurs to the enterprise. As the network is unavailable for 1 day, it can be considered as the failure of some business units that rely on this network. Hence financial losses incurred by this affected business unit should be considered.
Answer: D,E
Explanation:
C, and A are incorrect. These factors in combination contribute to the overall financial impact, i.e., financial losses incurred by affected business units.
NEW QUESTION # 247
You are the risk official of your enterprise. You have just completed risk analysis process. You noticed that the risk level associated with your project is less than risk tolerance level of your enterprise. Which of following is the MOST likely action you should take?
- A. Update risk register
- B. No action
- C. Prioritize risk response options
- D. Apply risk response
Answer: B
Explanation:
Explanation/Reference:
Explanation:
When the risk level is less than risk tolerance level of the enterprise than no action is taken against that, because the cost of mitigation will increase over its benefits.
Incorrect Answers:
A: This is not a valid answer, as no response is being applied to such low risk level.
B: Risk register is updates after applying response, and as no response is applied to such low risk level; hence no updating is done.
D: This is not a valid answer, as no response is being applied to such low risk level.
NEW QUESTION # 248
During the risk assessment of an organization that processes credit cards, a number of existing controls have been found to be ineffective and do not meet industry standards. The overall control environment may still be effective if:
- A. a control mitigation plan is in place
- B. risk management is effective
- C. residual risk is accepted
- D. compensating controls are in place
Answer: A
Explanation:
Section: Volume D
NEW QUESTION # 249
Reviewing which of the following BEST helps an organization gam insight into its overall risk profile''
- A. Threat landscape
- B. Risk register
- C. Risk metrics
- D. Risk appetite
Answer: D
NEW QUESTION # 250
You are the project manager of the HJK Project for your organization. You and the project team have created risk responses for many of the risk events in the project. Where should you document the proposed responses and the current status of all identified risks?
- A. Explanation:
Risks and the corresponding responses are documented in the risk register for the project. Risk register is a document that contains the results of the qualitative risk analysis, quantitative risk analysis, and risk response planning. Description, category, cause, probability of occurring, impact on objectives, proposed responses, owner, and the current status of all identified risks are put in the risk register. - B. Lessons learned documentation
- C. Stakeholder management strategy
- D. Risk register
- E. Risk management plan
Answer: D
Explanation:
is incorrect. The outcome of risk events and the corresponding risk responses may be documented in the project's lessons learned documented, but the best answer is to document the risk responses as part of the risk register. Answer:D is incorrect. The risk management plan defines how risks will be identified and analyzed, the available responses, and the monitoring and controlling of the risk events. The actual risk responses are included in the risk register. Answer:A is incorrect. The stakeholder management strategy defines how stakeholders and their threats, perceived threats, opinions, and influence over the project objectives will be addressed and managed.
NEW QUESTION # 251
An organization plans to migrate sensitive information to a public cloud infrastructure. Which of the following is the GREATEST security risk in this scenario?
- A. The cloud provider is not independently certified.
- B. Data may be commingled with other tenants' data.
- C. The infrastructure will be managed by the public cloud administrator.
- D. System downtime does not meet the organization's thresholds.
Answer: B
Explanation:
The greatest security risk in this scenario is that data may be commingled with other tenants' data on the public cloud infrastructure. Data commingling occurs when data from different sources or customers are mixed together without proper segregation or encryption. This may result in data leakage, unauthorized access, or loss of confidentiality and integrity. Data commingling is a common challenge in public cloud environments, where multiple customers share the same physical resources and network. System downtime, infrastructure management, and cloud provider certification are also potential risks in this scenario, but they are not as great as data commingling. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 5, Section 5.2.1.1, page 2451
1: ISACA Certified in Risk and Information Systems Control (CRISC) Exam Guide, Answer to Question
638.
NEW QUESTION # 252
A poster has been displayed in a data center that reads. "Anyone caught taking photographs in the data center may be subject to disciplinary action." Which of the following control types has been implemented?
- A. Deterrent
- B. Preventative
- C. Corrective
- D. Detective
Answer: A
Explanation:
A deterrent control is a type of control that has been implemented by displaying a poster that reads "Anyone caught taking photographs in the data center may be subject to disciplinary action.", as it aims to discourage or prevent unauthorized or malicious activities by warning the potential perpetrators of the consequences or sanctions. The other options are not the correct types of control, as they are more related to the correction, detection, or prevention of unauthorized or malicious activities, respectively, rather than the deterrence of unauthorized or malicious activities. References = CRISC Review Manual, 7th Edition, page 154.
NEW QUESTION # 253
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