CRISC Exam Dumps - Certified in Risk and Information Systems Control

According to the CRISC Review Manual1, risk scenarios are hypothetical situations that describe the potential causes, impacts, and responses of a risk event. Risk scenarios are useful tools for identifying, analyzing, and communicating risks in a clear and understandable way. The most important factor when developing risk scenarios is to ensure that they are relevant to the organization, as this helps to capture the specific context, objectives, processes, and resources of the organization, and to reflect the actual risk exposure and appetite of the organization. Relevant risk scenarios also help to engage and involve the stakeholders, and to facilitate risk-based decision making and action planning. References = CRISC Review Manual1, page 206.

As the threat landscape evolves, reporting on IT risk profile trends enables the organization tostay proactive. It helps ensure controls and strategies remain effective againstnew or increasing threats.

 The most likely cause for a risk practitioner to reassess risk scenarios is a change in the regulatory environment. A regulatory environment is the set of laws, rules, and standards that apply to an organization and its activities, such as data privacy, security, compliance, or governance. A change in the regulatory environment can occur due to various factors, such as new legislation, court rulings, enforcement actions, or industry trends. A change in the regulatory environment can affect the risk scenarios that the organization faces, as it may introduce new or modified risks, or alter the probability or impact of existing risks. For example, a new regulation may require the organization to implement additional or different controls, or to report or disclose more information, which may increase the cost, complexity, or vulnerability of the organization’s processes and systems. A change in the regulatory environment may also affect the risk appetite, tolerance, and capacity of the organization, as it may impose different requirements or expectations for the organization’s risk management performance and outcomes. Therefore, a risk practitioner should reassess the risk scenarios when there is a change in the regulatory environment, to ensure that the risk scenarios are accurate, complete, and relevant, and that the risk response strategies and plans are appropriate, effective, and compliant. The other options are not the most likely cause, although they may be related or influential to the riskscenarios. A change in the risk management policy is a change in the rules and guidelines that define how the organization manages its risks, such as the roles and responsibilities, the processes and procedures, the tools and techniques, or the reporting and communication. A change in the risk management policy can affect the risk scenarios, as it may change the way the organization identifies, analyzes, evaluates, and responds to the risks, but it does not directly create or modify the risks themselves. A major security incident is an event or situation that compromises the confidentiality, integrity, or availability of the organization’s information or systems, such as a data breach, a denial-of-service attack, or a ransomware infection. A major security incident can affect the risk scenarios, as it may indicate or reveal the existence or severity of the risks, or trigger or escalate the consequences of the risks, but it is not a cause, rather it is an effect of the risks. An increase in intrusion attempts is an increase in the frequency or intensity of the unauthorized or malicious attempts to access or exploit the organization’s information or systems, such as phishing, malware, or brute-force attacks. An increase in intrusion attempts can affect the risk scenarios, as it may increase the likelihood or impact of the risks, or expose or exacerbate the vulnerabilities of the organization’s processes and systems, but it is not a cause, rather it is a manifestation of the risks. References = Risk Scenarios Toolkit -ISACA, How to Write Strong Risk Scenarios and Statements - ISACA, The Impact of Regulatory Change on Business - Deloitte

The most important information to review when developing plans for using emerging technologies is the organizational strategic plan. The organizational strategic plan is a document that defines the vision, mission, goals, and objectives of the organization. It also outlines the strategies, actions, and resources that are needed to achieve them. The organizational strategic plan provides the direction, alignment, and guidance for the use of emerging technologies, and ensures that they are aligned with and support the organizational needs and priorities. The other options are not as important as the organizational strategic plan, as they are related to the current state, specific area, or potential issues of the use of emerging technologies, not the overall purpose and value of the use of emerging technologies. References = Risk and InformationSystems Control Study Manual, Chapter 1: IT Risk Identification, Section 1.2: IT Risk Identification Methods, page 19.

 The most important consideration for protecting data assets in a business application system is to ensure that the application controls are aligned with the data classification rules. Data classification rules define the level of sensitivity, confidentiality, and criticality of the data, andthe corresponding security requirements and controls. Application controls are the policies, procedures, and technical measures that are implemented at the application level to ensure the security, integrity, and availability of the data. Application controls should be designed and configured to match the data classification rules, so that the data is protected according to its value and risk. For example, if the data is classified as highly confidential, the application controls should enforce strong authentication, encryption, access control, logging, and auditing mechanisms. References = CRISC Review Manual, 6th Edition, ISACA, 2015, page 214.

 Strong authentication is the most effective measure against external threats to an organization’s confidential information. Confidential information is any data or information that is sensitive, proprietary, or valuable to the organization, and that should not be disclosed to unauthorized parties1. External threats are malicious actors outside the organization who attempt to gain unauthorized access to the organization’s networks, systems, and data, using various methods such as malware, hacking, or social engineering2. Strong authentication is a method of verifying the identity and legitimacy of a user or device before granting access to the organization’s resources or data3. Strong authentication typically involves the use of multiple factors or methods of authentication, such as passwords, tokens, biometrics, orcertificates4. Strong authentication can prevent or reduce the risk of external threats to the organization’s confidential information, by making it more difficult and costly for the attackers to compromise the credentials or devices of the authorized users, and by limiting the access to the data or resourcesthat are relevant and necessary for the users’ roles and responsibilities5. The other options are not the most effective measures against external threats to the organization’s confidential information, as they are either less secure or less relevant than strong authentication. Single sign-on is a method of allowing a user to access multiple systems or applications with a single set of credentials, without having to log in separately for each system or application6. Single sign-on can improve the user experience and convenience, as well as reduce the administrative burden and cost of managing multiple accounts and passwords. However, single sign-on is not the most effective measure against external threats to the organization’s confidential information, as it can also increase the risk of credential compromise or misuse, and create a single point of failure or attack for the attackers to access multiple systems or data. Data integrity checking is a method of ensuring that the data or information is accurate, complete, and consistent, and that it has not been altered or corrupted by unauthorized parties or processes. Data integrity checking can involve the use of techniques such as checksums, hashes, digital signatures, or encryption. Data integrity checking can enhance the quality and reliability of the data or information, as well as detect and prevent any unauthorized or malicious changes or tampering. However, data integrity checking is not the most effective measure against external threats to the organization’s confidential information, as it does not prevent or reduce the risk of data theft or leakage, and it does not verify the identity or legitimacy of the users or devices accessing the data. Intrusion detection system is a system that monitors the network or system activities and events, and detects and alerts any suspicious ormalicious behaviors or anomalies that may indicate an attempted or successful breach or attack. Intrusion detection system can help to identify and respond to external threats to the organization’s networks, systems, and data, by providing visibility and awareness of the network or system status and activities, and by enabling timely and appropriate actions or countermeasures. However, intrusion detection system is not the most effective measure againstexternal threats to the organization’s confidential information, as it is a reactive or passive system that does not prevent or block the attacks, and it may generate false positives or negatives that can affect its accuracy and efficiency. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 4, Section 4.2.1, Page 189.

 Reduced ability to evaluate key risk indicators (KRIs) will have the greatest impact on the ability to monitor risk when an information system for a key business operation is moved from an in-house application to a Software as a Service (SaaS) vendor, as it may limit the visibility and control over the risk exposure and performance of the system. KRIs are metrics that measure the level of risk exposure and the effectiveness of risk response strategies, and they should be aligned with the enterprise’s risk appetite and objectives. When the system is moved to a SaaS vendor, the enterprise may lose access to the data and processes that are used to calculate and report the KRIs, or the KRIs may become irrelevant or inconsistent with the vendor’s environment and standards. This may impair the ability to monitor risk and to take timely and appropriate actions to manage risk. Reduced access to internal audit reports, dependency on the vendor’s key performance indicators (KPIs), and dependency on service level agreements (SLAs) are not the greatest impacts on the ability to monitor risk, as they do not affect the measurement and reporting of the risk status and performance, but rather the assurance and evaluation of the system quality and reliability. References = CRISC Certified in Risk andInformation Systems Control – Question221; ISACACertified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, question 221.

Control ownership is the assignment of roles and responsibilities for the design, implementation, monitoring, and improvement of controls that mitigate risks. Control ownership can help ensure that the controls are effective, efficient, and aligned with the business objectives and risk appetite. Control ownership can also help facilitate the communication, coordination, and accountability among the stakeholders involved in the risk management process. One of the factors that would present the greatest challenge when assigning accountability for control ownership is unclear reporting relationships. Reporting relationships are the formal or informal lines of authority and communication that define who reports to whom, and who is accountable for what. Unclear reporting relationships can create confusion, ambiguity, and conflict among the control owners and other stakeholders, such as the risk owners, the business owners, the auditors, the regulators, etc. Unclear reporting relationships can also hinder the performance evaluation, feedback, and recognition of the control owners, and affect their motivation and commitment. Unclear reporting relationships can also increase the risk of duplication, inconsistency, or gaps in the control activities, and compromise the quality and reliability of the control environment. References = Defining, Assigning and Measuring: Accountability Challenges in 21st Century Governance, CRISC 351-400 topic3, Foundations of Project Management : Week 2.