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The CRISC certification exam is designed for professionals who have experience in identifying and managing risks within the information systems environment. This includes IT professionals, risk management professionals, compliance professionals, and business analysts, among others. CRISC Exam evaluates the candidate's knowledge of risk management principles, as well as their ability to apply these principles in real-world situations.

ISACA Certified in Risk and Information Systems Control Sample Questions (Q1636-Q1641):

NEW QUESTION # 1636
Which of the following processes is described in the statement below?
"It is the process of implementing risk response plans, tracking identified risks, monitoring residual risk, identifying new risks, and evaluating risk process effectiveness throughout the project."

A. Identify Risks
B. Explanation:
Monitor and Control Risk is the process of implementing risk response plans, tracking identified risks, monitoring residual risk, identifying new risks, and evaluating risk process effectiveness throughout the project. It can involve choosing alternative strategies, executing a contingency or fallback plan, taking corrective action, and modifying the project management plan.
C. Perform Qualitative Risk Analysis
D. Perform Quantitative Risk Analysis
E. Monitor and Control Risks

Answer: E

Explanation:
is incorrect. This is the process of prioritizing risks for further analysis or action by accessing and combining their probability of occurrence and impact. Answer:C is incorrect. This is the process of determining which risks may affect the project and documenting their characteristics. Answer:B is incorrect. This is the process of numerically analyzing the effect of identified risks on overall project objectives.

NEW QUESTION # 1637
Which of the following is the MOST important consideration when determining whether to accept residual risk after security controls have been implemented on a critical system?

A. Annualized loss expectancy (ALE) for the system
B. Cost of the Information control system
C. Cost versus benefit of additional mitigating controls
D. Frequency of business impact

Answer: C

Explanation:
Residual risk is the risk that remains after security controls have been implemented on a system. Residual risk can be accepted, transferred, avoided, or further mitigated. The most important consideration when deciding whether to accept residual risk is the cost versus benefit of additional mitigating controls. This means comparing the potential impact of the residual risk with the cost and effectiveness of implementing more controls to reduce it. If the cost of additional controls outweighs the benefit of reducing the residual risk, then it may be acceptable to accept the residual risk. However, if the benefit of additional controls exceeds the cost, then it may be advisable to implement more controls to lower the residual risk to an acceptable level. References = Risk and Information Systems Control Study Manual, Chapter 3: Risk Response and Mitigation, Section 3.4: Risk Response Selection, p. 156-157.

NEW QUESTION # 1638
An IT department originally planned to outsource the hosting of its data center at an overseas location to
reduce operational expenses. After a risk assessment, the department has decided to keep the data center in-
house. How should the risk treatment response be reflected in the risk register?

A. Risk acceptance
B. Risk transfer
C. Risk mitigation
D. Risk avoidance

Answer: D

Explanation:
The risk treatment response that should be reflected in the risk register when an IT department decides to
keep the data center in-house instead of outsourcing it to an overseas location is risk avoidance. Risk
avoidance is a risk response strategy that involves eliminating the source of the risk, or changing the plan or
scope of the activity, to avoid the risk altogether. Risk avoidance can help to reduce the risk exposure and
impact to zero, by removing the possibility of the risk occurrence. In this case, the IT department avoids the
risk of outsourcing the data center to an overseas location, which could involve various threats,
vulnerabilities, and uncertainties, such as data security, legal compliance, service quality, communication, or
cultural issues. By keeping the data center in-house, the IT department maintains the control and ownership of
the data center, and eliminates the potential risk associated with the outsourcing. Risk mitigation, risk
acceptance, and risk transfer are not the correct risk treatment responses, as they do not reflect the actual
decision and action taken by the IT department, and they do not eliminate the risk source or
occurrence. References = CRISC Review Manual, 6th Edition, ISACA, 2015, page 51.

NEW QUESTION # 1639
Which of the following items is considered as an objective of the three dimensional model within the framework described in COSO ERM?

A. Control environment
B. Risk assessment
C. Financial reporting
D. Monitoring

Answer: C

Explanation:
Section: Volume B
Explanation:
The COSO ERM (Enterprise Risk Management) frame work is a 3-dimensional model. The dimensions and their components include:
* Strategic Objectives - includes strategic, operations, reporting, and compliance.
* Risk Components - includes Internal Environment, Objectives settings, Event identification, Risk assessment, Risk response, Control activities, Information and communication, and monitoring.
* Organizational Levels - include subsidiary, business unit, division, and entity-level.
The COSO ERM framework contains eight risk components:
* Internal Environment
* Objective Settings
* Event Identification
* Risk Assessment
* Risk Response
* Control Activities
* Information and Communication
* Monitoring
Section 404 of the Sarbanes-Oley act specifies a three dimensional model- COSO ERM, comprised of Internal control components, Internal control objectives, and organization entities. All the items listed are components except Financial reporting which is an internal control objective.
Incorrect Answers:
A, C, D: They are the Internal control components, not the Internal control objectives.

NEW QUESTION # 1640
Implementing which of the following controls would BEST reduce the impact of a vulnerability that has been exploited?

A. Deterrent control
B. Corrective control
C. Detective control
D. Preventive control

Answer: B

Explanation:
A vulnerability is a system flaw or weakness that can be exploited by a threat actor, potentially leading to a security breach or incident. A vulnerability that has been exploited means that a threat actor has successfully taken advantage of the vulnerability and compromised the system or network. Implementing controls can help reduce the impact of a vulnerability that has been exploited, by limiting or preventing the damage or loss caused by the security breach or incident. Controls are the mechanisms or procedures that ensure the security, reliability, and quality of an IT system or process. Controls can be classified into different types, depending on their purpose and function. The four types of controls mentioned in the question are:
* Detective control: A control that monitors and detects the occurrence or attempt of a security breach or incident, and alerts the appropriate personnel or system. For example, a log analysis tool that identifies and reports any unauthorized access or activity on the system or network.
* Deterrent control: A control that discourages or prevents a threat actor from exploiting a vulnerability or performing a malicious action, by increasing the perceived difficulty, risk, or cost of doing so. For example, a warning message that informs the user of the legal consequences of unauthorized access or use of the system or network.
* Preventive control: A control that blocks or stops a threat actor from exploiting a vulnerability or performing a malicious action, by eliminating or reducing the vulnerability or the opportunity. For example, a firewall that filters and blocks any unwanted or malicious traffic from entering or leaving the system or network.
* Corrective control: A control that restores or repairs the system or network to its normal or desired state, after a security breach or incident has occurred, by fixing or removing the vulnerability or the impact. For example, a backup and recovery tool that restores the data or functionality of the system or network that has been corrupted or lost due to the security breach or incident.
The best type of control for reducing the impact of a vulnerability that has been exploited is the corrective control, because it directly addresses the damage or loss caused by the security breach or incident, and restores the system or network to its normal or desired state. Corrective controls can help minimize the negative consequences of a security breach or incident, such as downtime, data loss, reputational harm, legal liability, or regulatory sanctions. Corrective controls can also help prevent or reduce the recurrence of the security breach or incident, by fixing or removing the vulnerability that has been exploited. References
= Types of Security Controls, Security Controls: What They Are and Why You Need Them, Security Controls: Definition, Types & Examples.

NEW QUESTION # 1641
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