[Apr-2023] CRISC Dumps Full Questions - Isaca Certificaton Exam Study Guide
Exam Questions and Answers for CRISC Study Guide
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NEW QUESTION 608
An IT organization is replacing the customer relationship management (CRM) system. Who should own the risk associated with customer data leakage caused by insufficient IT security controls for the new system?
- A. Chief risk officer
- B. Chief information security officer
- C. IT controls manager
- D. Business process owner
Answer: D
Explanation:
Section: Volume D
Explanation
NEW QUESTION 609
Which of the following should be initiated when a high number of noncompliant conditions are observed during review of a control procedure?
- A. A review of the awareness program
- B. A control self-assessment
- C. Root cause analysis
- D. Disciplinary action
Answer: C
NEW QUESTION 610
Which of the following is the BEST approach to mitigate the risk associated with a control deficiency?
- A. Perform a business case analysis
- B. Conduct a control sell-assessment (CSA)
- C. Build a provision for risk
- D. Implement compensating controls.
Answer: B
NEW QUESTION 611
Which of the following phases is involved in the Data Extraction, Validation, Aggregation and Analysis?
- A. Risk identification, Risk assessment, Risk response and Risk monitoring
- B. Data access and Data validation
- C. Risk response and Risk monitoring
- D. Requirements gathering, Data access, Data validation, Data analysis, and Reporting and corrective action
Answer: D
Explanation:
Explanation/Reference:
Explanation:
The basic concepts related to data extraction, validation, aggregation and analysis is important as KRIs often rely on digital information from diverse sources. The phases which are involved in this are:
Requirements gathering: Detailed plan and project's scope is required for monitoring risks. In the case
of a monitoring project, this step should involve process owners, data owners, system custodians and other process stakeholders.
Data access: In the data access process, management identifies which data are available and how
they can be acquired in a format that can be used for analysis. There are two options for data extraction:
- Extracting data directly from the source systems after system owner approval
- Receiving data extracts from the system custodian (IT) after system owner approval Direct extraction is preferred, especially since this involves management monitoring its own controls, instead of auditors/third parties monitoring management's controls. If it is not feasible to get direct access, a data access request form should be submitted to the data owners that detail the appropriate data fields to be extracted. The request should specify the method of delivery for the file.
Data validation: Data validation ensures that extracted data are ready for analysis. One of its important
objective is to perform tests examining the data quality to ensure data are valid complete and free of errors. This may also involve making data from different sources suitable for comparative analysis.
Following concepts should be considered while validating data:
- Ensure the validity, i.e., data match definitions in the table layout
- Ensure that the data are complete
- Ensure that extracted data contain only the data requested
- Identify missing data, such as gaps in sequence or blank records
- Identify and confirm the validity of duplicates
- Identify the derived values
- Check if the data given is reasonable or not
- Identify the relationship between table fields
- Record, in a transaction or detail table, that the record has no match in a master table Data analysis: Analysis of data involves simple set of steps or complex combination of commands and
other functionality. Data analysis is designed in such a way to achieve the stated objectives from the project plan. Although this may be applicable to any monitoring activity, it would be beneficial to consider transferability and scalability. This may include robust documentation, use of software development standards and naming conventions.
Reporting and corrective action: According to the requirements of the monitoring objectives and the
technology being used, reporting structure and distribution are decided. Reporting procedures indicate to whom outputs from the automated monitoring process are distributed so that they are directed to the right people, in the right format, etc. Similar to the data analysis stage, reporting may also identify areas in which changes to the sensitivity of the reporting parameters or the timing and frequency of the monitoring activity may be required.
Incorrect Answers:
D: These are the phases that are involved in risk management.
NEW QUESTION 612
When an organization's disaster recovery plan has a reciprocal agreement, which of the following risk treatment options is being applied?
- A. Transfer
- B. Avoidance
- C. Mitigation
- D. Acceptance
Answer: C
Explanation:
Section: Volume D
NEW QUESTION 613
The MOST effective approach to prioritize risk scenarios is by:
- A. aligning with industry best practices.
- B. soliciting input from risk management experts.
- C. evaluating the cost of risk response.
- D. assessing impact to the strategic plan.
Answer: D
NEW QUESTION 614
Jane, the Director of Sales, contacts you and demands that you add a new feature to the software your project team is creating for the organization. In the meeting she tells you how important the scope change would be.
You explain to her that the software is almost finished and adding a change now could cause the deliverable to be late, cost additional funds, and would probably introduce new risks to the project. Jane stands up and says to you, "I am the Director of Sales and this change will happen in the project." And then she leaves the room.
What should you do with this verbal demand for a change in the project?
- A. Include the change in the project scope immediately.
- B. Do not implement the verbal change request.
- C. Report Jane to your project sponsor and then include the change.
- D. Direct your project team to include the change if they have time.
Answer: B
Explanation:
Section: Volume B
Explanation:
This is a verbal change request, and verbal change requests are never implemented. They introduce risk and cannot be tracked in the project scope. Change requests are requests to expand or reduce the project scope, modify policies, processes, plans, or procedures, modify costs or budgets or revise schedules. These requests for a change can be direct or indirect, externally or internally initiated, and legally or contractually imposed or optional. A Project Manager needs to ensure that only formally documented requested changes are processed and only approved change requests are implemented.
Incorrect Answers:
A: Including the verbal change request circumvents the project's change control system.
B: Directing the project team to include the change request if they have time is not a valid option. The project manager and the project team will have all of the project team already accounted for so there is no extra time for undocumented, unapproved change requests.
D: You may want to report Jane to the project sponsor, but you are not obligated to include the verbal change request.
NEW QUESTION 615
You are working in an enterprise. You enterprise is willing to accept a certain amount of risk. What is this risk called?
- A. Hedging
- B. Appetite
- C. Aversion
- D. Tolerance
Answer: B
Explanation:
Explanation/Reference:
Explanation:
Risk appetite considers the qualitative and quantitative aspects of accepting risks in an organization. The term refers to the type of risks the organization is willing to pursue, as well as amount of risk and the level of risk.
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.
Incorrect Answers:
A, B: Aversion and hedging are related to each other and represents the avoidance of risk within the organization.
D: The acceptable variation relative to the achievement of an objective is termed as risk tolerance. In other words, risk tolerance is the acceptable deviation from the level set by the risk appetite and business objectives.
Risk tolerance is defined at the enterprise level by the board and clearly communicated to all stakeholders.
A process should be in place to review and approve any exceptions to such standards.
NEW QUESTION 616
An organization uses a vendor to destroy hard drives. Which of the following would BEST reduce the risk of data leakage?
- A. Require the vendor to degauss the hard drives
- B. Implement an encryption policy for the hard drives.
- C. Require confirmation of destruction from the IT manager.
- D. Use an accredited vendor to dispose of the hard drives.
Answer: A
NEW QUESTION 617
Which of the following would BEST help to ensure that suspicious network activity is identified?
- A. Using a third-party monitoring provider
- B. Analyzing server logs
- C. Analyzing intrusion detection system (IDS) logs
- D. Coordinating events with appropriate agencies
Answer: C
NEW QUESTION 618
What are the three PRIMARY steps to be taken to initialize the project?
Each correct answer represents a complete solution. (Choose three.)
- A. Define requirements
- B. Plan risk management
- C. Acquire software
- D. Conduct a feasibility study
Answer: A,C,D
Explanation:
Explanation/Reference:
Explanation:
Projects are initiated by sponsors who gather the information required to gain approval for the project to be created. Information often compiled into the terms of a project charter includes the objective of the project, business case and problem statement, stakeholders in the system to be produced, and project manager and sponsor.
Following are the steps to initiate the project:
Conduct a feasibility study: Feasibility study starts once initial approval has been given to move forward
with a project, and includes an analysis to clearly define the need and to identify alternatives for addressing the need. A feasibility study involves:
- Analyzing the benefits and solutions for the identified problem area
- Development of a business case that states the strategic benefits of implementing the system either in productivity gains or in future cost avoidance and identifies and quantifies the cost savings of the new system.
- Estimation of a payback schedule for the cost incurred in implementing the system or shows the projected return on investment (ROI) Define requirements: Requirements include:
- Business requirements containing descriptions of what a system should do
- Functional requirements and use case models describing how users will interact with a system
- Technical requirements and design specifications and coding specifications describing how the system will interact, conditions under which the system will operate and the information criteria the system should meet.
Acquire software: Acquiring software involves building new or modifying existing hardware or software
after final approval by the stakeholder, which is not a phase in the standard SDLC process. If a decision was reached to acquire rather than develop software, this task should occur after defining requirements.
Incorrect Answers:
D: Risk management is planned latter in project development process, and not during initialization.
NEW QUESTION 619
A part of a project deals with the hardware work. As a project manager, you have decided to hire a company to deal with all hardware work on the project. Which type of risk response is this?
- A. Mitigation
- B. Transference
- C. Avoidance
- D. Exploit
Answer: B
Explanation:
Section: Volume C
Explanation:
When you are hiring a third party to own risk, it is known as transference risk response.
Risk transfer means that impact of risk is reduced by transferring or otherwise sharing a portion of the risk with an external organization or another internal entity. Transfer of risk can occur in many forms but is most effective when dealing with financial risks. Insurance is one form of risk transfer.
Incorrect Answers:
B: The act of spending money to reduce a risk probability and impact is known as mitigation.
C: When extra activities are introduced into the project to avoid the risk, this is an example of avoidance.
D: Exploit is a strategy that may be selected for risks with positive impacts where the organization wishes to ensure that the opportunity is realized.
NEW QUESTION 620
You work as a project manager for BlueWell Inc. You are about to complete the quantitative risk analysis process for your project. You can use three available tools and techniques to complete this process. Which one of the following is NOT a tool or technique that is appropriate for the quantitative risk analysis process?
- A. Data gathering and representation techniques
- B. Explanation:
Organizational process asset is not a tool and technique, but an input to the quantitative risk analysis process. Quantitative Risk Analysis is a process to assess the probability of achieving particular project objectives, to quantify the effect of risks on the whole project objective, and to prioritize the risks based on the impact to overall project risk. Quantitative Risk Analysis process analyzes the affect of a risk event deriving a numerical value. It also presents a quantitative approach to build decisions in the presence of uncertainty. The inputs for Quantitative Risk Analysis are : Organizational process assets Project Scope Statement Risk Management Plan Risk Register Project Management Plan - C. Quantitative risk analysis and modeling techniques
- D. Organizational process assets
- E. Expert judgment
Answer: B,D
Explanation:
is incorrect. Data gathering and representation technique is a tool and technique for the quantitative risk analysis process. Answer:C is incorrect. Quantitative risk analysis and modeling techniques is a tool and technique for the quantitative risk analysis process. Answer:B is incorrect. Expert judgment is a tool and technique for the quantitative risk analysis process.
NEW QUESTION 621
While reviewing a contract of a cloud services vendor, it was discovered that the vendor refuses to accept liability for a sensitive data breach. Which of the following controls will BES reduce the risk associated with such a data breach?
- A. Using the same cloud vendor as a competitor
- B. Engaging a third party to validate operational controls
- C. Ensuring the vendor does not know the encryption key
- D. Using field-level encryption with a vendor supplied key
Answer: C
NEW QUESTION 622
Which of the following is the BEST way to manage the risk associated with malicious activities performed by database administrators (DBAs)?
- A. Awareness training and background checks
- B. Two-factor authentication
- C. Periodic access review
- D. Activity logging and monitoring
Answer: D
Explanation:
Section: Volume D
NEW QUESTION 623
Which of the following are the principles of access controls?
Each correct answer represents a complete solution. Choose three.
- A. Confidentiality
- B. Reliability
- C. Integrity
- D. Availability
Answer: A,C,D
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 624
Which of the following is MOST effective in continuous risk management process improvement?
- A. Awareness training
- B. Periodic assessments
- C. Change management
- D. Policy updates
Answer: A
NEW QUESTION 625
Which of the following is MOST important to communicate to senior management during the initial implementation of a risk management program?
- A. Best practices
- B. Regulatory compliance
- C. Risk ownership
- D. Desired risk level
Answer: D
NEW QUESTION 626
An organization striving to be on the leading edge in regard to risk monitoring would MOST likely implement:
- A. a tool for monitoring critical activities and controls.
- B. monitoring activities for all critical assets.
- C. procedures to monitor the operation of controls.
- D. real-time monitoring of risk events and control exceptions,
Answer: C
NEW QUESTION 627
Who should be PRIMARILY responsible for establishing an organization's IT risk culture?
- A. Risk management
- B. IT management
- C. Executive management
- D. Business process owner
Answer: C
NEW QUESTION 628
You are a project manager for your organization and you're working with four of your key stakeholders. One of the stakeholders is confused as to why you're not discussing the current problem in the project during the risk identification meeting. Which one of the following statements best addresses when a project risk actually happens?
- A. Risk triggers are warning signs of when the risks will happen.
- B. Project risks are always in the future.
- C. Explanation:
According to the PMBOK, a project risk is always in the future. If the risk event has already
happened, then it is an issue, not a risk. - D. is incorrect. You can identify risks before they occur and not after their occurrence.
- E. Risks can happen at any time in the project.
- F. Project risks are uncertain as to when they will happen.
Answer: B
Explanation:
is incorrect. Triggers are warning signs and conditions of risk events, but this answer
isn't the best choice for this option B is incorrect. Risks can only happen in the future.
NEW QUESTION 629
Which of the following is MOST important to sustainable development of secure IT services?
- A. Security training for systems development staff
- B. Secure coding practices
- C. \Well-documented business cases
- D. Security architecture principles
Answer: D
NEW QUESTION 630
To which level the risk should be reduced to accomplish the objective of risk management?
- A. To a level that an organization can accept
- B. To a level where ALE is lower than SLE
- C. To a level where ARO equals SLE
- D. To a level that an organization can mitigate
Answer: A
Explanation:
Explanation/Reference:
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 631
An organization automatically approves exceptions to security policies on a recurring basis. This practice is MOST likely the result of:
- A. a lack of mitigating actions for identified risk
- B. ineffective IT governance
- C. ineffective service delivery
- D. decreased threat levels
Answer: A
NEW QUESTION 632
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