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NEW QUESTION # 392
Which of the following is described by the definition given below?
"It is the expected guaranteed value of taking a risk."
- A. Risk value guarantee
- B. Certain value assurance
- C. is incorrect. The risk premium is the difference between the larger expected value of
the risk and the smaller certainty equivalent value. - D. Risk premium
- E. Explanation:
The Certainty equivalent value is the expected guaranteed value of taking a risk. It is derived by
the uncertainty of the situation and the potential value of the situation's outcome. - F. Certainty equivalent value
Answer: F
Explanation:
and
are incorrect. These are not valid answers.
NEW QUESTION # 393
A trusted third party service provider has determined that the risk of a client's systems being hacked is low. Which of the following would be the client's BEST course of action?
- A. Perform an independent audit of the third party.
- B. Accept the risk based on the third party's risk assessment
- C. Perform their own risk assessment
- D. Implement additional controls to address the risk.
Answer: B
NEW QUESTION # 394
Which of the following is MOST important to sustainable development of secure IT services?
- A. Well-documented business cases
- B. Security training for systems development staff
- C. Security architecture principles
- D. Secure coding practices
Answer: A
NEW QUESTION # 395
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. Data may be commingled with other tenants' data.
- B. The infrastructure will be managed by the public cloud administrator.
- C. The cloud provider is not independently certified.
- D. System downtime does not meet the organization's thresholds.
Answer: A
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 # 396
Which of the following presents the GREATEST privacy risk related to personal data processing for a global organization?
- A. Personal data processing occurs in an offshore location with a data sharing agreement.
- B. The organization has not incorporated privacy into its risk management framework.
- C. The organization allows staff with access to personal data to work remotely.
- D. Privacy risk awareness training has not been conducted across the organization.
Answer: B
NEW QUESTION # 397
When defining thresholds for control key performance indicators (KPIs). it is MOST helpful to align:
- A. key risk indicators (KRIs) with risk appetite of the business.
- B. the control key performance indicators (KPIs) with audit findings.
- C. information risk assessments with enterprise risk assessments.
- D. control performance with risk tolerance of business owners.
Answer: A
NEW QUESTION # 398
A risk practitioner observed Vial a high number of pokey exceptions were approved by senior management. Which of the following is the risk practitioner s BEST course of action to determine root cause?
- A. interview the control owner
- B. Review the risk profile
- C. Review pokey change history
- D. Perform control testing
Answer: A
NEW QUESTION # 399
An organization operates in an environment where the impact of ransomware attacks is high, with a low likelihood. After quantifying the impact of the risk associated with ransomware attacks exceeds the organization's risk appetite and tolerance, which of the following is the risk practitioner's BEST recommendation?
- A. Obtain certification to a global information security standard.
- B. Adjust the organization's risk appetite and tolerance.
- C. Ensure business continuity assessments are up to date.
- D. Obtain adequate cybersecurity insurance coverage.
Answer: C
NEW QUESTION # 400
An organization moved its payroll system to a Software as a Service (SaaS) application. A new data privacy regulation stipulates that data can only be processed within the country where it is collected. Which of the following should be done FIRST when addressing this situation?
- A. Implement strong access controls.
- B. Understand data flows.
- C. Include a right-to-audit clause.
- D. Analyze data protection methods.
Answer: B
Explanation:
Section: Volume D
NEW QUESTION # 401
Which of the following BEST provides an early warning that network access of terminated employees is not being revoked in accordance with the service level agreement (SLA)?
- A. Monitoring key access control performance indicators
- B. Updating multi-factor authentication
- C. Analyzing access control logs for suspicious activity
- D. Revising the service level agreement (SLA)
Answer: A
NEW QUESTION # 402
You are the project manager of the NHH Project. You are working with the project team to create a plan to document the procedures to manage risks throughout the project. This document will define how risks will be identified and quantified. It will also define how contingency plans will be implemented by the project team. What document do you and your team is creating in this scenario?
- A. Explanation:
The risk management plan, part of the comprehensive management plan, defines how risks will be identified, analyzed, monitored and controlled, and even responded to. 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. Risks are built in with any project, and project managers evaluate risks repeatedly and build plans to address them. The risk management plan consists of analysis of possible risks with both high and low impacts, and the mitigation strategies to facilitate the project and avoid being derailed through which the common problems arise. Risk management plans should be timely reviewed by the project team in order to avoid having the analysis become stale and not reflective of actual potential project risks. Most critically, risk management plans include a risk strategy for project execution. - B. Risk management plan
- C. Resource management plan
- D. Project plan
- E. Project management plan
Answer: A,B
Explanation:
is incorrect. The project management plan is a comprehensive plan that communicates the intent of the project for all project management knowledge areas. Answer: A is incorrect. The project plan is not an official PMBOK project management plan. Answer: B is incorrect. The resource management plan defines the management of project resources, such as project team members, facilities, equipment, and contractors.
NEW QUESTION # 403
Which of the following are true for threats?
Each correct answer represents a complete solution. Choose three.
- A. They are possibility
- B. They can result in risks from external sources
- C. They will arise and stay in place until they are properly dealt.
- D. They can become more imminent as time goes by, or it can diminish
- E. They are real
Answer: B,D,E
Explanation:
Explanation/Reference:
Explanation:
Threat is an act of coercion wherein an act is proposed to elicit a negative response. Threats are real, while the vulnerabilities are a possibility. They can result in risks from external sources, and can become imminent by time or can diminish.
Incorrect Answers:
C, E: These two are true for vulnerability, but not threat. Unlike the threat, vulnerabilities are possibility and can result in risks from internal sources. They will arise and stay in place until they are properly dealt.
NEW QUESTION # 404
Which of the following is the PRIMARY reason for a risk practitioner to review an organization's IT asset inventory?
- A. To understand vulnerabilities associated with the use of the assets
- B. To calculate mean time between failures (MTBF) for the assets
- C. To plan for the replacement of assets at the end of their life cycles
- D. To assess requirements for reducing duplicate assets
Answer: A
Explanation:
Understanding vulnerabilities associated with the use of the assets is the primary reason for a risk practitioner to review an organization's IT asset inventory, as it helps to identify and assess the potential threats and risks to the assets. The other options are not the primary reasons for a risk practitioner to review an organization's IT asset inventory, although they may be related to the process.
NEW QUESTION # 405
Your project is an agricultural-based project that deals with plant irrigation systems. You have
discovered a byproduct in your project that your organization could use to make a profit. If your organization seizes this opportunity it would be an example of what risk response?
- A. Exploiting
- B. Opportunistic
- C. Explanation:
This is an example of exploiting a positive risk - a by-product of a project is an excellent example of exploiting a risk. Exploit response is one of the strategies to negate risks or threats that appear in a project. This strategy may be selected for risks with positive impacts where the organization wishes to ensure that the opportunity is realized. Exploiting a risk event provides opportunities for positive impact on a project. Assigning more talented resources to the project to reduce the time to completion is an example of exploit response. - D. Enhancing
- E. Positive
Answer: A,C
Explanation:
is incorrect. Opportunistic is not a valid risk response. Answer: B is incorrect. This is an example of a positive risk, but positive is not a risk response. Answer: A is incorrect. Enhancing is a positive risk response that describes actions taken to increase the odds of a risk event to happen.
NEW QUESTION # 406
Which of the following will be the GREATEST concern when assessing the risk profile of an organization?
- A. The risk profile does not contain historical loss data.
- B. The risk profile was last reviewed two years ago.
- C. The risk profile was developed without using industry standards.
- D. The risk profile was not updated after a recent incident
Answer: B
NEW QUESTION # 407
Who should be responsible for implementing and maintaining security controls?
- A. Data owner
- B. Internal auditor
- C. End user
- D. Data custodian
Answer: D
NEW QUESTION # 408
Which of the following can be interpreted from a single data point on a risk heat map?
- A. Risk appetite
- B. Risk tolerance
- C. Risk response
- D. Risk magnitude
Answer: D
Explanation:
Section: Volume D
NEW QUESTION # 409
Which of the following BEST enables senior management lo compare the ratings of risk scenarios?
- A. Key risk indicators (KRIs)
- B. Key performance indicators (KPIs)
- C. Control self-assessment (CSA)
- D. Risk heat map
Answer: D
Explanation:
A risk heat map is the best tool to enable senior management to compare the ratings of risk scenarios, as it provides a visual representation of the risk level and priority of each risk scenario, based on the combination of the likelihood and impact ratings, and the risk tolerance and appetite of the organization. Key risk indicators (KRIs), key performance indicators (KPIs), and control self-assessment (CSA) are not the best tools, as they are more related to the measurement, monitoring, or testing of the risk scenarios, respectively, rather than the comparison of the risk scenarios. References = CRISC Review Manual, 7th Edition, page 110.
NEW QUESTION # 410
You are the project manager of GHT project. You are performing cost and benefit analysis of control. You come across the result that costs of specific controls exceed the benefits of mitigating a given risk. What is the BEST action would you choose in this scenario?
- A. Explanation:
If the costs of specific controls or countermeasures (control overhead) exceed the benefits of
mitigating a given risk the enterprise may choose to accept the risk rather than incur the cost of
mitigation. This is done according to the principle of proportionality described in:
Generally accepted security systems principles (GASSP)
Generally accepted information security principles (GAISP) - B. is incorrect. The risk is being exploited when there is an opportunity, i.e., the risk is
positive. But here in this case, negative risk exists as it needs mitigation. So, exploitation cannot
be done. - C. The enterprise should adopt corrective control.
- D. The enterprise may apply the appropriate control anyway.
- E. is incorrect. When the cost of specific controls exceed the benefits of mitigating a given
risk, then controls are not applied, rather risk is being accepted. - F. The enterprise may choose to accept the risk rather than incur the cost of mitigation.
- G. The enterprise should exploit the risk.
Answer: F
Explanation:
is incorrect. As the cost of control exceeds the benefits of mitigating a given risk, hence
no control should be applied.
Corrective control is a type of control and hence it should not be adopted.
NEW QUESTION # 411
Which of the following is NOT true for Key Risk Indicators?
- A. They help avoid having to manage and report on an excessively large number of risk indicators
- B. They are monitored annually
- C. The complete set of KRIs should also balance indicators for risk, root causes and business impact.
- 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 # 412
Which of the following should be the PRIMARY focus of an independent review of a risk management process?
- A. Maturity of the process
- B. Accuracy of risk tolerance levels
- C. Consistency of risk process results
- D. Participation of stakeholders
Answer: C
NEW QUESTION # 413
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