CRISC Exam Dumps - Certified in Risk and Information Systems Control

A risk register is a document that records and tracks the information about the risks that may affect the organization’s objectives, such as the risk description, category, source, cause, impact, probability, status, owner, response, etc.

When developing a new risk register, a risk practitioner should focus on risk identification. This is the process of finding, recognizing, and describing the risks that may affect the organization’s objectives, using various techniques, such as brainstorming, interviews, checklists, surveys, etc.

Risk identification helps to create a comprehensive and accurate list of the risks that need to be managed, and to provide the basis for the subsequent risk analysis and evaluation, risk response planning, and risk monitoring and control.

The other options are not the risk management activities that a risk practitioner should focus on when developing a new risk register. They are either subsequent or parallel to risk identification.

The references for this answer are:

Risk IT Framework, page 29

Information Technology & Security, page 23

Risk Scenarios Starter Pack, page 21

 The most important information to include when reporting the effectiveness of risk management to senior management is the changes in residual risk levels against acceptable levels, as it indicates how well the risk management process and activities have reduced the risk exposure and impact to the level that is aligned with the risk tolerance and appetite of the organization. The other options are not the most important information, as they are more related to thedrivers,factors, or outcomes of risk management, respectively, rather than the effectiveness or value of risk management. References = CRISC Review Manual, 7th Edition, page 109.

Prioritizing concerns based on frequency of reports is the most efficient approach to analyze the security-related concerns reported by employees, because it helps to identify and focus on the most common or recurring issues that may pose the highest risk or impact to the organization. A security-related concern is a potential or actual problem or threat that may affect the confidentiality, integrity, or availability of the organization’s IT systems or data. A service desk is a function that provides a single point of contact for users to report and resolve their IT-related issues or requests. A workflow is a sequence of steps or tasks that are performed to achieve a specific goal or outcome. A workflow for supporting employee reports of security-related concerns may include capturing, categorizing, prioritizing, assigning, and resolving the concerns. Prioritizing concerns based on frequency of reports is the most efficient approach, as it helps to optimize the use of resources and time, and to reduce the likelihood and severity of security incidents or breaches. Mapping concerns to organizational assets, sorting concerns by likelihood, and aligning concerns to key vendors are all possible approaches to analyze the security-related concerns, but they are not the most efficient approach, as they may require more data collection, analysis, or coordination, and may not reflect the urgency or importance of the concerns. References = Risk and Information Systems Control Study Manual, Chapter 5, Section 5.3.2, page 200

The business process manager is best suited to own business continuity controls because they have direct responsibility for the continuity of the business process and understand the criticality of maintaining operations during disruptions. While security officers and operations managers have important roles, the business process manager is accountable for ensuring the process continues to meet business objectives and should lead continuity efforts【5:513, 5:514†CRISC_SentenceinNOTE30.pptx】.

 The BEST way to enable mitigation of newly identified risk factors related to internet of Things (loT) is to introduce control procedures early in the life cycle, because it can help to prevent or reduce the occurrence or impact of the risk factors, and to ensure that the loT devices and systems are designed and developed with security and quality in mind. The control procedures should include requirements analysis, design review, testing, validation, and verification of the loT devices and systems. The other options are not as effective as introducing control procedures early in the life cycle, because:

Option B: Implementing loT device software monitoring is a good way to detect and respond to the risk factors related to loT, but it does not enable mitigation of the risk factors, which is the proactive and preventive approach. Software monitoring is a reactive and corrective measure that may not be able to prevent or reduce the occurrence or impact of the risk factors, especially if they are embedded in the hardware or firmware of the loT devices.

Option C: Performing periodic risk assessments of loT is a necessary way to identify and evaluate the risk factors related to loT, but it does not enable mitigation of the risk factors, which is the action-oriented and solution-focused approach. Risk assessment is an analytical and descriptive process that may not provide the specific and effective measures to address or mitigate the risk factors, especially if they are complex or dynamic.

Option D: Performing secure code reviews is a useful way to verify and improve the security and quality of the software of the loT devices and systems, but it does not enable mitigation of the risk factors related to loT, which may involve more than just the software aspect. The risk factors related to loT may also include the hardware, firmware, network, communication, data, andintegration aspects, which may not be covered or resolved by the code reviews. References = Risk and Information Systems Control Study Manual, 7th Edition, ISACA, 2020, p. 214.

 The most important consideration when communicating the risk associated with technology end-of-life to business owners is the cost and benefit of the risk response options. Technology end-of-life is the situation when a technology product or service is no longer supported by the vendor or manufacturer, and may pose security, compatibility, or performance issues. The risk practitioner should communicate the cost and benefit of the possible risk responses, such as replacing, upgrading, or maintaining the technology, to the business owners, and help them to make informed and rational decisions. Security and availability, maintainability and reliability, and performance and productivity are other possible considerations, but they are not as important as the cost and benefit. References = ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, question 8; CRISC Review Manual, 6th Edition, page 97.

Using aconsistent risk taxonomyensures that IT risks can be aggregated and compared with enterprise-level risks in a meaningful way. ISACA emphasizes that standardized risk language and categories are critical to integrating IT risk with ERM processes.

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