CRISC Exam Dumps - Certified in Risk and Information Systems Control

When developing a response plan to address security incidents regarding sensitive data loss, it is most important to review the data classification policy. A data classification policy is a document that defines the categories and levels of data based on their sensitivity, value, and criticality, and specifies the appropriate security measures and handling procedures for each data type. A data classification policy helps to identify and protect the sensitive data that could be exposed or compromised in a security incident, and to comply with the relevant laws, regulations, standards, and contracts. Reviewing the data classification policy is important when developing a response plan, because it helps to determine the scope, impact, and priority of the security incident, and to select the most appropriate and effective response actions and strategies. Reviewing the data classification policy also helps to communicate and coordinate the response plan with the internal and external stakeholders, such as the data owners, users, custodians, and regulators, and to report and disclose the security incident as required. The other options are not as important as reviewing the data classification policy, although they may be part of or derived from the response plan. Revalidating current key risk indicators (KRIs), revising risk management procedures, and revalidating existing risk scenarios are all activities that can help to improve or update the risk management process, but they are not the most important when developing a response plan. References = Risk and Information Systems Control Study Manual, Chapter 5, Section 5.3.1, page 5-25.

The best course of action to determine the root cause of the high number of policy exceptions approved by senior management is to interview the control owner. The control owner is the person who has the authority and responsibility for designing, implementing, and monitoring the controls that enforce the policy. The control owner can provide insight into the reasons, circumstances, and impacts of the policy exceptions, and the effectiveness and efficiency of the controls. The control owner can also suggest possible improvements or alternatives to the policy or the controls. The other options are not as useful as interviewing the control owner, as they are related to the review, analysis, or testing of the policy or the controls, not the investigation or understanding of the policy exceptions. References = Risk and Information Systems Control Study Manual, Chapter 4: Risk and Control Monitoring and Reporting, Section 4.4: Key Control Indicators, page 211.

When preparing a risk status report for periodic review by senior management, it is most important to ensure the report includes risk exposure in business terms. Risk exposure is the potential loss or harm that may result from a risk event. Expressing risk exposure in business terms can help senior management to understand the impact and significance of the risk on the organization’s objectives, performance, and value. A detailed view of individual risk exposures, a summary of incidents that have impacted the organization, and recommendations by an independent risk assessor are other possible contents of the report, but they are not as important as risk exposure in business terms. References = ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, question 10; CRISC Review Manual, 6th Edition, page 140.

The result of a realized risk scenario is a loss event. A loss event is an occurrence that causes harm or damage to the organization’s assets, resources, or reputation. A loss event is also known as an incident or a breach. A loss event is the outcome of a risk scenario, which is a description of a possible situation or event that could affect the organization’s objectives or operations. A risk scenario consists of three elements: a threat, a vulnerability, and an impact. A threat is a potential source of harm or damage. A vulnerability is a weakness or flaw that could be exploited by a threat. An impact is the consequence or effect of a threat exploiting a vulnerability. A risk scenario is realized when a threat exploits a vulnerability and causes an impact, which results in a loss event. The other options are not the result of a realized risk scenario, although they may be part of a risk scenario. A technical event, a threat event, and a vulnerability event are all types of events that could occur in a risk scenario, but they are not the final outcome or result of a risk scenario. References = Risk and Information Systems Control Study Manual, Chapter 4, Section 4.2.1, page 4-13.

 The most important key performance indicator (KPI) to monitor the effectiveness of disaster recovery processes is the percentage of IT systems meeting the recovery time objective (RTO) during the disaster recovery test. The RTO is the maximum acceptable time that a system or process can be unavailable after a disruption. The disaster recovery test is a simulation of a disaster scenario to evaluate the readiness and capability of the organization to restore its critical functions and systems. By measuring the percentage of IT systems meeting the RTO during the test, the organization can assess how well the disaster recovery processes meet the predefined objectives and standards. Percentage of IT systems recovered within the mean time to restore (MTTR), percentage of issues arising from the disaster recovery test resolved on time, and percentage of IT systems included in the disaster recovery test scope are other possible KPIs, but they are not as important as the percentage of IT systems meeting the RTO. References = ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, question 12; CRISC Review Manual, 6th Edition, page 215.

To ensure that new IT policies address the enterprise’s requirements, it is important to involve the business owners who are the primary stakeholders of the IT services and processes. Business owners can provide valuable input on the business objectives, risks, and expectations that the IT policies should align with and support. By involving business owners in the policy development process, the IT policies will be more relevant, realistic, and acceptable to the business units. References = Risk and Information Systems Control Study Manual, Chapter 1: IT Risk Identification, Section 1.3: IT Risk Scenarios, page 23.

The asset owner is the best suited to assist a risk practitioner in developing a relevant set of risk scenarios. The asset owner is the person who has the authority and responsibility for the IT assets that support the business processes. The asset owner can provide valuable information on the business objectives, requirements, and expectations that the IT assets should meet. The asset owner can also help identify the potential threats, vulnerabilities, and impacts that may affect the IT assets and the business processes. The asset owner can also suggest possible risk responses and mitigation strategies to address the risk scenarios. The other options are not as relevant as the asset owner, as they may not have the same level of knowledge, interest, or involvement in the IT assets and the business processes. References = Risk and Information Systems Control Study Manual, Chapter 1: IT Risk Identification, Section 1.3: IT Risk Scenarios, page 23.

Key risk indicators (KRIs) are metrics that provide an early warning of increasing risk exposure in various areas of the organization. They help to monitor changes in the level of risk and enable timely actions to mitigate the risk. The most useful information for developing KRIs is the possible causes of materialized risk, which are the factors or events that trigger or contribute to the occurrence of a risk. By identifying the possible causes of materialized risk, an organization can design KRIs that measure the likelihood and impact of the risk, and alert the management when the risk exceeds the acceptable level. References = CRISC Review Manual, 7th Edition, page 101.