CRISC Exam Dumps - Certified in Risk and Information Systems Control

According to the CRISC Review Manual1, the risk register is a tool that records the results of risk identification, analysis, evaluation, and treatment. It should be updated whenever there is a change in the risk profile, such as when a vulnerability is closed or a new threat is identified. Updating the risk register allows the organization to monitor the current status of risks and the effectiveness of risk responses. Therefore, the next course of action after implementing changes to close an identifiedvulnerability is to update the risk register with the new information. References = CRISC Review Manual1, page 191.

Lack of organizational policy regarding open source software should be the greatest concern for an organization that uses open source software applications, as it may expose the organization to legal, security, and operational risks. Open source software is software that is freely available and can be modified and distributed by anyone, subject to certain conditions and licenses. An organizational policy regarding open source software should define the criteria and procedures for selecting, acquiring, using, and maintaining open source software, as well as the roles and responsibilities of the stakeholders involved. Lack of reliability, lack of monitoring, and lack of professional support are not the greatest concerns, as they can be addressed by implementing quality assurance, configuration management, and community engagement practices for open source software. References = CRISC by Isaca Actual Free Exam Q&As, question 214; CRISC: Certified in Risk & Information Systems Control Sample Questions, question 214.

 Information security policies are the foundation of an organization’s security program, as they define the objectives, roles, responsibilities, and standards for protecting the information assets and systems. However, information security policies are not static, and they need to be reviewed and updated regularly to reflect the changes in the organization’s environment, risk profile, and compliance requirements. Therefore, the best course of action when conducting an organization-wide risk assessment is to review the policies against current needs to determine adequacy. This means comparing the policies with the current threats, vulnerabilities, controls, and best practices, and identifying any gaps or weaknesses that need to be addressed. The other options are not the best course of action, as they do not consider the current needs of the organization. Reviewing and updating the policies to align with industry standards may not be sufficient, as the organization may have specific or unique needs that are not covered by the standards. Determining that the policies should be updated annually may not be realistic, as the frequency of updates may depend on the nature and complexity of the policies and the organization. Reporting that the policies are adequate and do not need to be updated frequently may not be accurate, as the policies may be outdated or ineffective, and may expose the organization to unnecessary risks. References = Risk Assessment and Analysis Methods: Qualitative and Quantitative - ISACA, Does Your Organization Need a Security Risk Assessment? - ISACA, SP 800-39, Managing Information Security Risk: Organization, Mission …

The process owner is the stakeholder who is responsible for the business process that will be supported by the new IT solution. The process owner has the best knowledge of the businessrequirements, objectives, and risks associated with the process. The process owner can provide the most relevant information for analyzing the risk associated with the new IT solution, such as the expected benefits, costs, performance, functionality, security, and compliance of the solution. The process owner can also help to identify and evaluate the potential impact and likelihood of the risk scenarios related to the new IT solution. The other stakeholders may have some information or insights, but they are not as directly involved or affected by the new IT solution as the process owner. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 2, Section 2.3.1.1, pp. 58-59.

Key risk indicators are designed to provide early warnings about increasing risk exposure, enabling timely risk mitigation efforts. This supports proactive risk management, as outlined in theRisk Monitoring and Reportingdomain of CRISC.

Quantifying the value of a single asset helps the organization to understand the consequences of risk materializing, as it indicates how much impact or loss the organization would suffer if the asset is compromised, damaged, or destroyed by a threat. The value of an asset can be determined by various methods, such as the cost of acquisition, replacement, or restoration, the market value, the income or revenue generated, or the impact on the business objectives or reputation. The other options are not the best description of what quantifying the value of a single asset helps the organization to understand, as they are either too broad (overall effectiveness of risk management, necessity of developing a risk strategy) or not directly related to the asset value (organization’s risk threshold). References = IT Asset Valuation, Risk Assessment and Control Implementation Model; How to quantify assets?; Asset Valuation - Definition, Methods, and Importance

Regulatory and legal compliance dictate data retention requirements, making them the primary basis for retention decisions.