Which of the following BEST facilitates the mitigation of identified gaps between current and desired risk environment states?
Answer(s): A
Developing a risk treatment plan is the best way to facilitate the mitigation of identified gaps between current and desired risk environment states. A risk treatment plan is a document that outlines the actions and resources needed to implement the chosen risk response strategy for each risk scenario. A risk treatment plan should include the following elements:Risk scenario description and risk IDRisk owner and other stakeholdersRisk response strategy and objectivesRisk response actions and tasksResources, costs, and benefitsRoles and responsibilitiesTimeline and milestonesPerformance indicators and monitoring mechanismsContingency plans and triggersA risk treatment plan helps to close the gaps between the current and desired risk environment states by providing a clear and comprehensive roadmap for risk mitigation. It also helps to ensure that the risk response actions are aligned with the organizational risk appetite, objectives, and priorities. A risk treatment plan also facilitates the communication, coordination, and collaboration among the risk owners and other stakeholders involved in the risk mitigation process.The other options are not the best ways to facilitate the mitigation of identified gaps between current and desired risk environment states. Validating organizational risk appetite is an important step in establishing the risk criteria and thresholds for the risk assessment process, but it does not directly address the gaps between the current and desired risk environment states. Reviewing results of prior risk assessments can provide useful insights and lessons learned for the current risk assessment process, but it does not necessarily lead to the development and implementation of effective risk response actions. Including the current and desired states in the risk register can help to document and monitor the risk scenarios and their status, but it does not provide the details and guidance for risk mitigation. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 4: Risk Response, Section 4.2: Risk Treatment, p. 189-191.
A risk practitioner is organizing risk awareness training for senior management. Which of the following is the MOST important topic to cover in the training session?
Answer(s): C
The organization's risk appetite and tolerance are the most important topics to cover in a risk awareness training for senior management. Risk appetite is the amount and type of risk that an organization is willing to accept in pursuit of its objectives. Risk tolerance is the level of variation from the risk appetite that the organization is prepared to accept. Senior management plays a key role in defining and communicating the risk appetite and tolerance,as well asensuring that they are aligned with the organization's strategy, culture, and values. By covering these topics in the training session, the risk practitioner can help senior management understand and articulate the risk preferences and boundaries of the organization, as well as monitor andadjust them as needed. The other options are not the most important topics to cover in a risk awareness training for senior management, although they may be relevant and useful. The organization's strategic risk management projects are specific initiatives or activities that aim to identify, assess, and treat risks that may affect the organization's objectives. Senior management roles and responsibilities are the duties and expectations that senior management has in relation to risk management, such as providing leadership, oversight, and support. Senior management allocation of risk management resources is the process of assigning and prioritizing the human, financial, and technical resources that are needed to implement and maintain risk management activities. These topics are more operational and tactical than strategic and may vary depending on the context and scope of the risk management function. References = CRISC Review Manual, pages 40- 411; CRISC Review Questions, Answers & Explanations Manual, page 732
What should a risk practitioner do FIRST when vulnerability assessment results identify a weakness in an application?
A vulnerability assessment is a process of identifying and evaluating the weaknesses or gaps in an application that may expose it to potential threats or attacks.When vulnerability assessment results identify a weakness in an application, the first thing that a risk practitioner should do is to assess the risk to determine mitigation needed. This means that the risk practitioner should analyze the likelihood and impact of the weakness being exploited, the existing controls that are in place to prevent or reduce the exploitation, and the residual risk that remains after applying the controls. Assessing the risk to determine mitigation needed helps to prioritize the actions that are required to address the weakness, such as implementing new or additional controls, accepting the risk, transferring the risk, or avoiding the risk. The other options are not the first things that a risk practitioner should do when vulnerability assessment results identify a weakness in an application. They are either secondary or not essential for risk management.The references for this answer are:Risk IT Framework, page 18Information Technology & Security, page 12Risk Scenarios Starter Pack, page 10
Which of the following presents the GREATEST challenge to managing an organization's end-user devices?
Answer(s): B
Which of the following is the STRONGEST indication an organization has ethics management issues?
According to the CRISC Review Manual, ethics management is the process of ensuring that the enterprise's values and principles are embedded in its culture and practices. Ethics management helps to promote trust, integrity, accountability, and transparency among the stakeholders. One of the key elements of ethics management is to encourage the reporting of IT risk issues and incidents, and to protect the whistleblowers from any retaliation or negative consequences. Therefore, if employees do not report IT risk issues for fear of consequences, it is the strongest indication that the organization has ethics management issues, as it implies that there is a lack of trust, openness, and support in the organization. The other options are not the strongest indications of ethics management issues, as they are related to other aspects of IT governance,such as audit independence, policy compliance, and risk management framework. References = CRISC Review Manual, 7th Edition, Chapter 1, Section 1.3.2, page 34.
Post your Comments and Discuss ISACA CRISC exam prep with other Community members:
Our website is free, but we have to fight against AI bots and content theft. We're sorry for the inconvenience caused by these security measures. You can access the rest of the CRISC content, but please register or login to continue.