CRISC Exam Dumps - Certified in Risk and Information Systems Control

Residual risk is the level of risk that remains after applying controls or other risk treatments. A critical patch is a type of control that aims to reduce the risk of a known vulnerability being exploited by attackers. If the patch implementation fails, the control is ineffective and the risk is not reduced. Therefore, the residual risk is increased, as the organization is still exposed to the potential negative consequences of the vulnerability.

It is most important that security controls for a new system be documented in the system requirements. The system requirements define the functional and non-functional specifications of the system, including the security controls that are needed to protect the system and its data. Documenting the security controls in the system requirements can help ensure that they are designed, developed, tested, and implemented as part of the system development life cycle. Testing requirements, the implementation plan, and the security policy are other documents that may include security controls, but they are not as important as the system requirements. References = ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, question 5; CRISC Review Manual, 6th Edition, page 212.

Cost-benefit analysis evaluates whether the benefits (e.g., risk reduction, efficiency) of implementing the new tool justify the costs (e.g., acquisition, maintenance). This analysis is critical for informed decision-making and resource optimization.

A maturity model is a tool that assesses the level of development and performance of key processes within an organization. A maturity model typically defines a set of criteria, standards, and best practices for each process, and assigns a rating or score based on the degree of compliance or achievement. A maturity model can help compare the current state of key processes to their desired state, by identifying the strengths, weaknesses, gaps, and opportunities for improvement. A maturity model can also help establish a roadmap for process improvement, by setting realistic and measurable goals and objectives, and monitoring the progress and results. References = Risk and Information Systems Control Study Manual, Chapter 1: IT Risk Identification, Section 1.4: IT Risk Scenarios, p. 49-50.

Independent third-party audits provide an objective review of a vendor’s control environment. They are often formalized in reports such as SOC 2 or ISO audits, giving the organization the highest level of assurance about the effectiveness of vendor controls.

According to the ISACA Risk and Information Systems Control study guide and handbook, the primary benefit of selecting an appropriate set of key risk indicators (KRIs) is that they provide a warning of emerging high-risk conditions. KRIs are metrics that monitor changes in the level of risk exposure and contribute to the early warning signs that enable organizations to report risks, prevent crises, and mitigate them in time. KRIs help risk managers to identify potential threats, assess their impact and likelihood, and take proactive measures to reduce the risk or seize the opportunity12

1: ISACA Risk and Information Systems Control Study Guide, 4th Edition, page 33 2: ISACA Risk and Information Systems Control Handbook, 1st Edition, page 25

An IT risk assessment is a process that involves identifying, analyzing, and evaluating the IT-related risks and their potential impacts on the organization’s objectives and performance1. Identifying and communicating with stakeholders at the onset of an IT risk assessment is the process of determining and engaging the persons or entities that have an interest or influence in the IT risk management, such as the IT users, owners, managers, orproviders2. The primary benefit of identifying and communicating with stakeholders at the onset of an IT risk assessment is to define the risk assessment scope, which is theboundary or extent of the IT risk assessment, such as the IT systems, processes, or functions that are included or excluded from the assessment3. By identifying and communicating with stakeholders at the onset of an IT risk assessment, the organization can ensure that the risk assessment scope is relevant, realistic, and aligned with the organization’s strategy, vision, and mission, and that it reflects the current and emerging IT risks and their potential consequences. Identifying and communicating with stakeholders at the onset of an IT risk assessment can also help to establish and communicate the roles and responsibilities of the stakeholders, and to enforce the accountability and performance of the IT risk management. Obtaining funding support, selecting the risk assessment framework, and establishing inherent risk are not the primary benefits of identifying and communicating with stakeholders at the onset of an IT risk assessment, as they do not provide the same level of insight and relevance as defining the risk assessment scope. Obtaining funding support is the process of securing and providing the necessary funds or resources that are required to support or enable the IT risk assessment4. Obtaining funding support can enhance the quality and performance of the IT risk assessment, but it is not the primary benefit of identifying and communicating with stakeholders at the onset of an IT risk assessment, as it does not determine or influence the boundary or extent of the IT risk assessment. Selecting the risk assessment framework is the process of choosing or developing a set of principles, methods, and tools that guide and facilitate the IT risk assessment5. Selecting the risk assessment framework can improve the reliability and consistency of the IT risk assessment, but it is not the primary benefit of identifying and communicating with stakeholders at the onset of an IT risk assessment, as it does not define or affect the scope or coverage of the IT risk assessment. Establishing inherent risk is the process of assessing the level of risk that exists before any controls or mitigating factors are considered. Establishing inherent risk can help to understand and prioritize the IT risks and their impacts, but it is not the primary benefit of identifying and communicating with stakeholders at the onset of an IT risk assessment, as it doesnot specify or limit the scope or range of the IT risk assessment. References = 1: IT Risk Assessment - an overview | ScienceDirect Topics2: Stakeholder Requirements - an overview | ScienceDirect Topics3: Risk Assessment Scope - an overview | ScienceDirect Topics4: Funding Support - an overview | ScienceDirect Topics5: Risk Assessment Framework - an overview | ScienceDirect Topics : [Inherent Risk - an overview | ScienceDirect Topics] : [Risk and Information Systems Control Study Manual, Chapter 2: IT Risk Assessment, Section 2.1: Risk Identification, pp. 57-59.] : [Risk and Information Systems Control Study Manual, Chapter 2: IT Risk Assessment, Section 2.2: Risk Analysis, pp. 67-69.] : [Risk and Information Systems Control Study Manual, Chapter 2: IT Risk Assessment, Section 2.3: Risk Evaluation, pp. 77-79.] : [Risk and Information Systems Control Study Manual, Chapter 3: Risk Response, Section 3.1: RiskResponse Options, pp. 113-115.] : [Risk and Information Systems Control Study Manual, Chapter 4: Risk and Control Monitoring and Reporting, Section 4.1: Key Risk Indicators, pp. 181-185.] : [Risk and Information Systems Control Study Manual, Chapter 4: Risk and ControlMonitoring and Reporting, Section 4.2: Risk Monitoring, pp. 189-191.] : [Risk and Information Systems Control Study Manual, Chapter 5: Information Systems Control Design and Implementation, Section 5.1: Control Design, pp. 233-235.] : [Risk and Information Systems Control Study Manual, Chapter 5: Information Systems Control Design and Implementation, Section 5.2: Control Implementation, pp. 243-245.] : [Risk and Information Systems Control Study Manual, Chapter 5: Information Systems Control Design and Implementation, Section 5.3: Control Monitoring and Maintenance, pp. 251-253.]

The most useful information to determine mitigating controls when a core data center went offline abruptly for several hours affecting many transactions across multiple locations is the root cause analysis. Root cause analysis is a technique that identifies the underlying factors or reasons that caused the problem or incident. Root cause analysis can help to understand the nature, scope,and impact of the problem or incident, and to prevent or reduce the recurrence or severity of the problem or incident in the future. Root cause analysis can also help to identify and prioritize the appropriate mitigating controls that address the root causes of the problem or incident. The other options are not as useful as root cause analysis, as they are related to the investigation, evaluation, or measurement of the problem or incident, not the resolution or prevention of the problem or incident. References = Risk and Information Systems ControlStudy Manual, Chapter 4: Risk and Control Monitoring and Reporting, Section 4.4: Key Control Indicators, page 211.