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Free CRISC Exam Braindumps (page: 11)

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You are the project manager of the GHY Project for your company. You need to complete a project management process that will be on the lookout for new risks, changing risks, and risks that are now outdated. Which project management process is responsible for these actions?

  1. Risk planning
  2. Risk monitoring and controlling
  3. Risk identification
  4. Risk analysis

Answer(s): B

Explanation:

The risk monitoring and controlling is responsible for identifying new risks, determining the status of risks that may have changed, and determining which risks may be outdated in the project.

Incorrect Answers:
A: Risk planning creates the risk management plan and determines how risks will be identified, analyzed, monitored and controlled, and responded to.

C: Risk identification is a process that identifies risk events in the project.

D: Risk analysis helps determine the severity of the risk events, the risks' priority, and the probability and impact of risks.



You are the project manager of the HGT project in Bluewell Inc. The project has an asset valued at $125,000 and is subjected to an exposure factor of 25 percent. What will be the Single Loss Expectancy of this project?

  1. $ 125,025
  2. $ 31,250
  3. $ 5,000
  4. $ 3,125,000

Answer(s): B

Explanation:

The Single Loss Expectancy (SLE) of this project will be $31,250.

Single Loss Expectancy is a term related to Quantitative Risk Assessment. It can be defined as the monetary value expected from the occurrence of a risk on an asset. It is mathematically expressed as follows:

Single Loss Expectancy (SLE) = Asset Value (AV) * Exposure Factor (EF)

where the Exposure Factor represents the impact of the risk over the asset, or percentage of asset lost. As an example, if the Asset Value is reduced two third, the exposure factor value is .66. If the asset is completely lost, the Exposure Factor is 1.0. The result is a monetary value in the same unit as the Single Loss Expectancy is expressed.

Therefore,
SLE = Asset Value * Exposure Factor
= 125,000 * 0.25
= $31,250

Incorrect Answers:
A, C, D: These are not SLEs of this project.



Which of the following are the principles of access controls?
Each correct answer represents a complete solution. Choose three.

  1. Confidentiality
  2. Availability
  3. Reliability
  4. Integrity

Answer(s): A,B,D

Explanation:

The principles of access controls focus on availability, integrity, and confidentiality, as loss or danger is directly related to these three:
Loss of confidentiality- Someone sees a password or a company's secret formula, this is referred to as loss of confidentiality.
Loss of integrity- An e-mail message is modified in transit, a virus infects a file, or someone makes unauthorized changes to a Web site is referred to as loss of integrity.
Loss of availability- An e-mail server is down and no one has e-mail access, or a file server is down so data files aren't available comes under loss of availability.



You are the project manager of GHT project. You have selected appropriate Key Risk Indicators for your project. Now, you need to maintain those Key Risk Indicators. What is the MOST important reason to maintain Key Risk Indicators?

  1. Risk reports need to be timely
  2. Complex metrics require fine-tuning
  3. Threats and vulnerabilities change over time
  4. They help to avoid risk

Answer(s): C

Explanation:

Since the enterprise's internal and external environments are constantly changing, the risk environment is also highly dynamic, i.e., threats and vulnerabilities change over time. Hence KRIs need to be maintained to ensure that KRIs continue to effectively capture these changes.

Incorrect Answers:
A: Timely risk reporting is one of the business requirements, but is not the reason behind KRI maintenance.

B: While most key risk indicator metrics need to be optimized in respect to their sensitivity, the most important objective of KRI maintenance is to ensure that KRIs continue to effectively capture the changes in threats and vulnerabilities over time.

D: Avoiding risk is a type of risk response. Risk responses are based on KRI reporting.






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