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Question #381

The MAIN reason for prioritizing IT risk responses is to enable an organization to:

A . determine the risk appetite.
B . determine the budget.
C . define key performance indicators (KPIs).
D . optimize resource utilization.

Question #382

A risk practitioner has observed that there is an increasing trend of users sending sensitive information by email without using encryption.

Which of the following would be the MOST effective approach to mitigate the risk associated with data loss?

A . Implement a tool to create and distribute violation reports
B . Raise awareness of encryption requirements for sensitive data.
C . Block unencrypted outgoing emails which contain sensitive data.
D . Implement a progressive disciplinary process for email violations.

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Question #383

When implementing an IT risk management program, which of the following is the BEST time to evaluate current control effectiveness?

A . Before defining a framework
B . During the risk assessment
C . When evaluating risk response
D . When updating the risk register

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Question #384

Which of the following would BEST indicate to senior management that IT processes are improving?

A . Changes in the number of security exceptions
B . Changes to the structure of the risk register
C . Changes in the number of intrusions detected
D . Changes in the position in the maturity model

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Question #385

An organization has decided to use an external auditor to review the control environment of an outsourced service provider.

The BEST control criteria to evaluate the provider would be based on:

A . a recognized industry control framework
B . guidance provided by the external auditor
C . the service provider’s existing controls
D . The organization’s specific control requirements

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Question #386

Which of the following should be the MOST important consideration for senior management when developing a risk response strategy?

A . Cost of controls
B . Risk tolerance
C . Risk appetite
D . Probability definition

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Richtige Antwort: C
C

Explanation:

Risk response strategy is the approach that an organization takes to address the risks that it faces across its various functions, processes, and activities. Risk response strategy involves selecting and implementing the appropriate risk response options, such as avoidance, mitigation, transfer, or acceptance, for each risk, based on the risk level, the risk appetite, and the cost-benefit analysis1. The most important consideration for senior management when developing a risk response strategy is the risk appetite of the organization. Risk appetite is the amount and type of risk that an organization is willing to accept in order to achieve its objectives. Risk appetite reflects the organization’s risk attitude and its willingness to take on risk in specific scenarios. Risk appetite is usually expressed in a qualitative statement approved by the board of directors2.

Considering the risk appetite of the organization is essential for developing a risk response strategy, because it can help to:

Align the risk response strategy with the overall business strategy and vision, and ensure that the risk response options support the achievement of the organizational objectives

Balance the risk response strategy with the expected benefits and opportunities, and ensure that the risk response options do not eliminate or reduce the potential value or performance of the organization

Enhance the risk response strategy with the stakeholder expectations and requirements, and ensure that the risk response options meet the needs and interests of the customers, suppliers, partners, regulators, and other parties

Optimize the risk response strategy with the available resources and capabilities, and ensure that the risk response options are feasible and cost-effective for the organization34

The other options are not as important as the risk appetite of the organization for developing a risk response strategy, but rather some of the factors or outcomes of it. Cost of controls is the amount of resources and funds that are required to implement and maintain the risk response controls, such as policies, procedures, or technologies, that aim to prevent or reduce the negative effects of the risks. Cost of controls is a factor that can affect the selection and implementation of the risk response options, but it is not the primary consideration for developing the risk response strategy. Risk tolerance is the acceptable variation in the outcomes related to specific objectives or risks. Risk tolerance is a factor that can measure the risk analysis and guide the risk response, but it is not the primary consideration for developing the risk response strategy. Probability definition is the process of estimating the likelihood or frequency of the risk events, based on historical data, statistical analysis, expert judgment, or other methods. Probability definition is an outcome of the risk analysis that can inform the risk response, but it is not the primary consideration for developing the risk response strategy.

Reference: =

Risk Response – ISACA

Risk Appetite vs. Risk Tolerance: What is the Difference? – ISACA

Risk Response Strategies: Types & Examples (+ Free Template)

Risk Response Strategy – ISACA

[CRISC Review Manual, 7th Edition]

Question #387

Which of the following is MOST important requirement to include in a Software as a Service (SaaS) vendor contract to ensure data is protected?

A . The vendor must provide periodic independent assurance reports.
B . The vendor must host data in a specific geographic location.
C . The vendor must be held liable for regulatory fines for failure to protect data.
D . The vendor must participate in an annual vendor performance review.

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Question #388

Which strategy employed by risk management would BEST help to prevent internal fraud?

A . Require control owners to conduct an annual control certification.
B . Conduct regular internal and external audits on the systems supporting financial reporting.
C . Ensure segregation of duties are implemented within key systems or processes.
D . Require the information security officer to review unresolved incidents.

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Question #389

Which of the following BEST facilitates the identification of appropriate key performance indicators (KPIs) for a risk management program?

A . Reviewing control objectives
B . Aligning with industry best practices
C . Consulting risk owners
D . Evaluating KPIs in accordance with risk appetite

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Question #390

Which of the following is the PRIMARY reason to perform ongoing risk assessments?

A . Emerging risk must be continuously reported to management.
B . New system vulnerabilities emerge at frequent intervals.
C . The risk environment is subject to change.
D . The information security budget must be justified.

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Richtige Antwort: C
C

Explanation:

The primary reason to perform ongoing risk assessments is that the risk environment is subject to change. The risk environment is the external and internal factors that influence the level and nature of the risks that the organization faces1. These factors include economic, political, social, technological, legal, and environmental aspects, as well as the organization’s objectives, strategies, culture, and resources2. The risk environment is dynamic and unpredictable, and may change due to various events, trends, or developments that create new or modify existing risks3. Therefore, it is important to perform ongoing risk assessments to identify, analyze, and evaluate the changes in the risk environment, and to adjust the risk response and management accordingly. Ongoing risk assessments help to ensure that the organization’s risk profile is up to date and reflects the current reality, and that the organization’s risk appetite and tolerance are aligned with the changing risk environment4. The other options are not the primary reason to perform ongoing risk assessments, as they are either less comprehensive or less relevant than the changing risk environment. Emerging risk must be continuously reported to management. This option is a consequence or outcome of performing ongoing risk assessments, not a reason for doing so. Emerging risk is a new or evolving risk that has the potential to affect the organization’s objectives, operations, or performance5. Ongoing risk assessments can help to identify and monitor emerging risks, and to report them to management for decision making and action. However, this is not the main reason for performing ongoing risk assessments, as it does not cover the existing or modified risks that may also change due to the risk environment. New system vulnerabilities emerge at frequent intervals. This option is a specific or narrow example of a changing risk environment, not a general or broad reason for performing ongoing risk assessments. System vulnerabilities are weaknesses or flaws in the design, implementation, or operation of information systems that can be exploited by threats to cause harm or loss6. Ongoing risk assessments can help to discover and assess new system vulnerabilities that may emerge due to technological changes, cyberattacks, or human errors. However, this is not the primary reason for performing ongoing risk assessments, as it does not encompass the other types or sources of risks that may also change due to the risk environment. The information security budget must be justified. This option is a secondary or incidental benefit of performing ongoing risk assessments, not a primary or essential reason for doing so. The information security budget is the amount of money that the organization allocates for implementing and maintaining information security measures and controls7. Ongoing risk assessments can help to justify the information security budget by demonstrating the value and effectiveness of the security measures and controls in reducing the risks, and by identifying the gaps or needs for additional or improved security measures and controls. However, this is not the main reason for performing ongoing risk assessments, as it does not address the purpose or objective of risk assessment, which is to identify, analyze, and evaluate the risks and their impact on the organization.

Reference: = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 2, Section 2.1.1, Page 47.