[2022] CRISC All-in-One Exam Guide Practice To your CRISC Exam!
Preparations of CRISC Exam 2022 Isaca Certificaton Unlimited 930 Questions
Risk Response Mitigation: 23%
- Help the control owners to develop control mechanisms and documentation for effective and efficient control execution;
- Consult with the stakeholders on design, implementation, or adjustment in mitigation controls to ascertain that risks are managed to a certain acceptable level;
- Discuss with or help the risk owners on risk action development plans to incorporate key elements in development plans;
- Discuss with the risk owners to choose and align proposed risk responses with the business objectives to allow for informed risk decision making;
- Establish the options for risk response and measure their risk management effectiveness and efficiency in alignment with the business objectives;
- Revise a risk register to include changes in risk and risk response management;
- Certify the execution of risk responses based on risk action plans.
NEW QUESTION 294
An organization maintains independent departmental risk registers that are not automatically aggregated.
Which of the following is the GREATEST concern?
- A. The same risk factor may be identified in multiple areas
- B. Management may be unable to accurately evaluate the risk profile
- C. Resources may be inefficiency allocated
- D. Multiple risk treatment efforts may be initiated to treat a given risk
Answer: B
NEW QUESTION 295
A risk practitioner discovers several key documents detailing the design of a product currently in development have been posted on the Internet. What should be the risk practitioner's FIRST course of action?
- A. Conduct an immediate risk assessment
- B. Inform internal audit.
- C. Perform a root cause analysis
- D. invoke the established incident response plan.
Answer: C
NEW QUESTION 296
Which of the following role carriers is accounted for analyzing risks, maintaining risk profile, and risk-aware decisions?
- A. Business process owner
- B. Chief information officer (CIO)
- C. Chief risk officer (CRO)
- D. Business management
Answer: D
Explanation:
Explanation/Reference:
Explanation:
Business management is the business individuals with roles relating to managing a program. They are typically accountable for analyzing risks, maintaining risk profile, and risk-aware decisions. Other than this, they are also responsible for managing risks, react to events, etc.
Incorrect Answers:
B: Business process owner is an individual responsible for identifying process requirements, approving process design and managing process performance. He/she is responsible for analyzing risks, maintaining risk profile, and risk-aware decisions but is not accounted for them.
C: CIO is the most senior official of the enterprise who is accountable for IT advocacy; aligning IT and business strategies; and planning, resourcing and managing the delivery of IT services and information and the deployment of associated human resources. CIO has some responsibility analyzing risks, maintaining risk profile, and risk-aware decisions but is not accounted for them.
D: CRO is the individual who oversees all aspects of risk management across the enterprise. He/she is responsible for analyzing risks, maintaining risk profile, and risk-aware decisions but is not accounted for them.
NEW QUESTION 297
Which of the following would be of GREATEST assistance when justifying investment in risk response strategies?
- A. Total cost of ownership
- B. Business impact analysis
- C. Resource dependency analysis
- D. Cost-benefit analysis
Answer: D
NEW QUESTION 298
Which of the following operational risks ensures that the provision of a quality product is not overshadowed by the production costs of that product?
- A. Contract and product liability risks
- B. Project activity risks
- C. Profitability operational risks
- D. Information security risks
Answer: C
Explanation:
Section: Volume B
Explanation
Explanation:
Profitability operational risks focus on the financial risks which encompass providing a quality product that is cost-effective in production. It ensures that the provision of a quality product is not overshadowed by the production costs of that product.
Incorrect Answers:
A: Information security means protecting information and information systems from unauthorized access, use, disclosure, disruption, modification, perusal, inspection, recording or destruction. Information security risks are the risks that are associated with the protection of these information and information systems.
B: These risks do not ensure that the provision of a quality product is not overshadowed by the production costs of that product.
C: Project activity risks are not associated with provision of a quality product or the production costs of that product.
NEW QUESTION 299
Which of the following is the BEST way to promote adherence to the risk tolerance level set by management?
- A. Avoiding risks that could materialize into substantial losses
- B. Defining expectations in the enterprise risk policy
- C. Increasing organizational resources to mitigate risks
- D. Communicating external audit results
Answer: B
NEW QUESTION 300
Which of the following risk management practices BEST facilitates the incorporation of IT risk scenarios into the enterprise-wide risk register?
- A. Key risk indicators (KRIs) are developed for key IT risk scenarios.
- B. Risk appetites for IT risk scenarios are approved by key business stakeholders.
- C. IT risk scenarios are developed in the context of organizational objectives.
- D. IT risk scenarios are assessed by the enterprise risk management team.
Answer: C
Explanation:
Section: Volume D
NEW QUESTION 301
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. outsource disaster recovery to an external provider.
- B. centralize the risk response function at the enterprise level.
- C. evaluate opportunities to combine disaster recovery plans.
- D. select a provider to standardize the disaster recovery plans.
Answer: B
NEW QUESTION 302
What are the two MAJOR factors to be considered while deciding risk appetite level? Each correct answer represents a part of the solution. Choose two.
- A. Explanation:
Risk appetite is the amount of risk a company or other entity is willing to accept in pursuit of its mission. This is the responsibility of the board to decide risk appetite of an enterprise. When considering the risk appetite levels for the enterprise, the following two major factors should be taken into account: The enterprise's objective capacity to absorb loss, e.g., financial loss, reputation damage, etc. The culture towards risk taking-cautious or aggressive. In other words, the amount of loss the enterprise wants to accept in pursue of its objective fulfillment. - B. The amount of loss the enterprise wants to accept
- C. The capacity of the enterprise's objective to absorb loss.
- D. Alignment with risk-culture
- E. Risk-aware decisions
Answer: A,B,C
Explanation:
is incorrect. Alignment with risk-culture is also one of the factors but is not as important as these two. Answer: C is incorrect. Risk aware decision is not the factor, but is the result which uses risk appetite information as its input.
NEW QUESTION 303
Which of the following should be the PRIMARY focus of an IT risk awareness program?
- A. Ensure compliance with the organization's internal policies
- B. Demonstrate regulatory compliance.
- C. Communicate IT risk policy to the participants.
- D. Cultivate long-term behavioral change.
Answer: D
NEW QUESTION 304
When communicating changes in the IT risk profile, which of the following should be included to BEST enable stakeholder decision making?
- A. Results of external attacks and related compensating controls
- B. Review of leading IT risk management practices within the industry
- C. List of recent incidents affecting industry peers
- D. Gaps between current and desired states of the control environment
Answer: D
NEW QUESTION 305
When evaluating enterprise IT risk management it is MOST important to:
- A. create new control processes to reduce identified IT risk scenarios
- B. confirm the organization s risk appetite and tolerance
- C. review alignment with the organization's investment plan
- D. report identified IT risk scenarios to senior management
Answer: C
NEW QUESTION 306
Which of the following is the BEST source for identifying key control indicators (KCIs)?
- A. Recent audit findings of control weaknesses
- B. Privileged user activity monitoring controls
- C. Controls mapped to organizational risk scenarios
- D. A list of critical security processes
Answer: C
NEW QUESTION 307
Which of the following would be MOST useful when measuring the progress of a risk response action plan?
- A. Resource expenditure against budget
- B. An up-to-date risk register
- C. Annual loss expectancy (ALE) changes
- D. Percentage of mitigated risk scenarios
Answer: D
Explanation:
Section: Volume D
NEW QUESTION 308
Which of the following is the BEST way to help ensure risk will be managed properly after a business process has been re-engineered?
- A. Establishing escalation procedures for anomaly events
- B. Conducting a post-implementation review to determine lessons learned
- C. Reassessing control effectiveness of the process
- D. Reporting key performance indicators (KPIs) for core processes
Answer: C
NEW QUESTION 309
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