CRISC Exam Dumps - Certified in Risk and Information Systems Control

 The best course of action for a risk practitioner upon learning that a control under internal review may no longer be necessary is to obtain approval to retire the control. This will help to ensure that the control is removed in a controlled and documented manner, and that the relevant stakeholders are informed and agree with the decision. Retiring unnecessary controls can also help to optimize the control environment, reduce costs and complexity, and improve efficiency and performance. Updating the status of the control as obsolete, consulting the internal auditor for a second opinion, and verifying the effectiveness of the original mitigation plan are not the best courses of action, as they may not address the root cause of the control’s obsolescence, and may delay or complicate the control retirement process. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 3, Section 3.1.1.2, page 1071

1: ISACA Certified in Risk and Information Systems Control (CRISC®) Exam Guide, Answer to Question 649.

According to the LDR514: Security Strategic Planning, Policy, and Leadership Course, after mapping generic risk scenarios to organizational security policies, the next course of action should be to validate the risk scenarios for business applicability. This is because generic risk scenarios are not specific to the organization’s context, objectives, and environment, and they may not capture the unique threats, vulnerabilities, and impacts that the organization faces. Therefore, validating the risk scenarios for business applicability will help to ensure that the risk scenarios are relevant, realistic, and consistent with the organization’s security policies. Validating the risk scenarios will also help to identify any gaps, overlaps, or conflicts between the risk scenarios and the security policies, and to resolve them accordingly. References = LDR514: Security Strategic Planning, Policy, and Leadership Course, Risk Assessment and Analysis Methods: Qualitative and Quantitative

A risk management program is a set of processes, policies, and tools that enable an enterprise to identify, analyze, evaluate, treat, monitor, and communicate its risks. The maturity level of a risk management program indicates how well the program is integrated, standardized, and aligned with the enterprise’s objectives, culture, and values. The best indication that an organization’s risk management program has not reached the desired maturity level is large fluctuations in risk ratings between assessments. Risk ratings are the measures of the impact and likelihood of the risks, and they should be consistent and comparable across the enterprise and over time. Large fluctuations in risk ratings between assessments suggest that the risk management program is not stable, reliable, or effective, and that the risk identification and analysis methods are not robust, accurate, or transparent. The other options are not as indicative of the maturity level of the risk management program, as they involve different aspects or outcomes of the risk management program:

Significant increases in risk mitigation budgets means that the enterprise is spending more resources on implementing risk responses, such as controls, policies, or procedures. This may indicate that the enterprise is facing more or higher risks, or that the risk responses are more costly or complex, but it does not necessarily reflect the maturity level of the risk management program, as it may also depend on the enterprise’s risk appetite, tolerance, and strategy.

A steady increase in the time to recover from incidents means that the enterprise is taking longer to restore its normal operations after a disruption or a loss. This may indicate that the enterprise is not prepared or resilient enough to deal with the incidents, or that the incidents are more frequent or severe, but it does not necessarily reflect the maturity level of the risk management program, as it may also depend on the nature and source of the incidents, or the availability and effectiveness of the recovery plans.

A large number of control exceptions means that the enterprise is deviating from the established controls, policies, or procedures, either intentionally or unintentionally. This may indicate that the enterprise is not complying with the risk management program, or that the controls are not adequate or appropriate for the enterprise’s needs, but it does not necessarily reflect the maturity level of the risk management program, as it may also depend on the reasons and justifications for the exceptions, or the approval and monitoring processes for the exceptions. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 1, Section 1.1.3.1, pp. 14-15.

The best course of action when an audit reveals that there are changes in the environment that are not reflected in the risk profile is to review the risk identification process. This is because the risk identification process is the first step in the risk management process and it is responsible for identifying and assessing the potential risks that may affect the organization’s objectives. If the risk identification process is not effective, it may result in incomplete, inaccurate, or outdated risk profiles that do not reflect the current environment and the associated risks. Therefore, reviewing the risk identification process will help to ensure that the risk profile is updated and aligned with the changes in the environment and the organization’s strategy. References = Responding to Audit Findings

 A key outcome of risk ownership is that risk responsibilities are addressed, as this means that the risk owner has the authority and accountability to manage the risk, and that the roles and expectations of the other stakeholders are clearly defined and agreed upon. Risk ownership is the process of assigning a person or entity with the responsibility to manage a particular risk. Risk ownership helps to ensure that the risk is properly identified, assessed, and treated, and that the risk status and performance are monitored and reported. The other options are not key outcomes of risk ownership, although they may be related or beneficial aspects of it. Risk-related information is communicated is an outcome of risk reporting, which is a part of risk monitoring and control. Risk-oriented tasks are defined is an outcome of risk response planning, which is a part of risk treatment. Business process risk is analyzed is an outcome of risk assessment, which is a part of risk identification and analysis. References = Risk and Information Systems Control Study Manual, Chapter 2: IT Risk Identification, page 47.

 The effectiveness of an employee deprovisioning process can be measured by the number of days taken to remove access after staff separation dates, as this indicates how quickly and completely the organisation can revoke the privileges of former employees and reduce the risk of unauthorized access or data leakage. The number of days taken for IT to remove access after receipt of HR instructions is a measure of the efficiency of the IT department, but not the overall process. The number of termination requests processed per reporting period is a measure of the volume of the process, but not the quality or timeliness. The number of days taken for HR to provide instructions to IT after staff separation dates is a measure of the performance of the HR department, but not the entire process. References = Risk and Information Systems Control Study Manual, Chapter 4: Risk Response, page 152.

The most important consideration when identifying stakeholders to review risk scenarios developed by a risk analyst is that the reviewers are accountable for the affected processes. This is because the reviewers need to have a clear understanding of the business processes that are exposed to the risks, and the potential impact and consequences of the risk scenarios. The reviewers also need to have the authority and responsibility to implement the risk responses and monitor the risk performance. By involving the stakeholders who are accountable for the affected processes, the risk analyst can ensure that the risk scenarios are realistic, relevant, and comprehensive, and that the risk management process is aligned with the business objectives and expectations. The other options are not as important as the accountability for the affected processes, because they do not guarantee that the reviewers have the necessary knowledge, experience, and involvement in the risk management process, as explained below:

B. Members of senior management are not the most important consideration, because they may not have the detailed or operational knowledge of the business processes that are exposed to the risks, or the technical or practical aspects of the risk scenarios. Senior management may also have different or conflicting priorities or perspectives on the risk management process, which may affect the quality and validity of the review.

C. Authorized to select risk mitigation options are not the most important consideration, because they may not have the direct or regular involvement in the business processes that are exposed to the risks, or the specific or contextual understanding of the risk scenarios. The authority to select risk mitigation options may also depend on other factors, such as the risk appetite, the budget, or the organizational structure, which may limit or influence the review.

D. Independent from the business operations are not the most important consideration, because they may not have the sufficient or relevant knowledge of the business processes that are exposed to the risks, or the potential or actual impact and consequences of the risk scenarios. The independence from the business operations may also create a gap or disconnect between the risk management process and the business objectives and expectations, which may affect the effectiveness and efficiency of the review. References = Risk and Information Systems Control Study Manual, Chapter 2, Section 2.3.1, page 45. A Stakeholder Approach to Risk Management, Module 2. Project risk management: stakeholders’ risks and the project manager’s role, What Is Risk Management Scenario Analysis?

The primary consideration when establishing an organization’s risk management methodology is the business context, which includes the internal and external factors that influence the organization’s objectives, strategies, scope, and boundaries. The business context helps to define the risk criteria, the risk appetite, the risk identification, the risk analysis, and the risk treatment. The other options are not the primary consideration, but rather the outcomes or inputs of the risk management methodology. References = ISO 31000 Risk Management – Principles and Guidelines; ISO 31000 Principles of Risk Management; The risk management process: What is the best structure and administration?