CRISC Exam Dumps - Certified in Risk and Information Systems Control

 The most important thing for an organization to have in place when developing a risk management framework is a strategic approach to risk including an established risk appetite, as this provides the direction, scope, and objectives of the risk management process, and defines the level of risk that the organization is willing to accept or avoid in pursuit of its goals. A strategic approach to risk aligns the risk management framework with the organization’s vision, mission, values, and strategy, and ensures that the risk management activities support the achievement of the desired outcomes. An established risk appetite sets the boundaries and criteria for risk decision making, and guides the selection and implementation of risk responses. The other options are not the most important things for an organization to have in place when developing a risk management framework, although they may be useful or necessary components of it. A risk-based internal audit plan is a tool that helps to evaluate and improve the effectiveness of the risk management framework, but it does not define or drive the risk management process. A control function within the risk management team is a role that helps to implement and monitor the risk controls, but it does not determine or influence the risk strategy or appetite. An organization-wide risk awareness training program is a method that helps to enhance the risk culture and competence of the organization, but it does not establish or communicate the risk approach or appetite. References = Risk and Information Systems Control Study Manual, Chapter 1: IT Risk Identification, page 23.

 Controls are the mechanisms or procedures that ensure the security, reliability, and quality of an IT system or process. Controls can be preventive, detective, or corrective, and can be implemented at various levels, such as physical, logical, administrative, or technical. Controls should be defined during the design phase of system development because it is more cost-effective to determine controls in the early design phase. The design phase is the stage where the system requirements are translated into a detailed technical plan, which includes the system architecture, database structure, user interface, and system components. The design phase also defines the system objectives, goals, and performance criteria. Defining controls during the design phase can help ensure that the controls are aligned with the system requirements and objectives, and that they are integrated into the system design from the start. Defining controls during the design phase can also help avoid or reduce the costs and risks associated with implementing controls later in the development or operation phases, such as rework, delays, errors, failures, or breaches. References = THE SYSTEM DEVELOPMENT LIFE CYCLE (SDLC), p. 2-3, System Development LifeCycle - GeeksforGeeks, 7.3: Systems Development Life Cycle - Engineering LibreTexts, What Is SDLC? 7 Phases of System Development Life Cycle - Intetics.

Brainstorming sessions would best contribute to identifying obscure risk scenarios, as they allow participants to generate and share ideas without being constrained by conventional thinking or assumptions. Brainstorming sessions can help to identify risks that are not obvious, not well understood, or not covered by existing controls. Control self-assessments, vulnerability analysis, and Monte Carlo analysis are useful methods for evaluating and quantifying risks, but they are not designed to identify obscure risk scenarios. References = Risk and Information Systems Control Study Manual, Chapter 2: IT Risk Identification, page 59.

Control testing is the process of verifying that the risk mitigation controls are designed and operating effectively, and that they achieve the intended objectives and outcomes. Control testing can involve various methods, such as observation, inspection, inquiry, re-performance, or simulation. Control testing results can provide evidence and assurance that the implementation of a risk mitigation control has been completed as intended, and that the control is functioning properly and consistently. Control testing results can also identify any issues or deficiencies in the control design or operation, and recommend corrective actions or improvements. The other options are not as helpful as control testing results, because they do not provide a direct and objective verification of the control implementation, but rather focus on other aspects or outputs of the risk management process, as explained below:

A. An updated risk register is a document that records and tracks the identified risks, their characteristics, and their status. An updated risk register can reflect the changes in the risk profile and exposure after the implementation of a risk mitigation control, but it does not verify that the control implementation has been completed as intended, or that the control is effective and reliable.

B. Risk assessment results are the outputs of the risk analysis and evaluation process, which measure the impact and likelihood of the risks, and assign a risk rating and priority. Risk assessment results can indicate the level of risk exposure and the need for risk mitigation controls, but they do not verify that the control implementation has been completed as intended, or that the control is effective and reliable.

C. Technical control validation is the process of ensuring that the technical aspects of a control, such as hardware, software, or network components, are configured and functioning correctly. Technical control validation can verify that the control implementation meets the technical specifications and requirements, but it does not verify that the control implementation has been completed as intended, or that the control is effective and reliable from a business perspective. References = Risk and Information Systems Control Study Manual, Chapter 4, Section 4.3.3, page 130.

The most important factor for sustainable development of secure IT services is security training for systems development staff. Security training helps to ensure that the staff members are aware of the security risks, requirements, and best practices that affect the IT services they develop. Security training also helps to improve the security skills and knowledge of the staff members, and to foster a security culture and behavior within the development team. Security training can also help to prevent or reduce security defects, vulnerabilities, or incidents in the IT services, and to enhance the security performance and quality of the IT services. Well-documented business cases, security architecture principles, and secure coding practices are also important factors for sustainable development of secure IT services, but they are not as important as security trainingfor systems development staff. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 5, Section 5.1.1.2, page 2291

1: ISACA Certified in Risk and Information Systems Control (CRISC®) Exam Guide, Answer to Question 653.

According to the Risk and Information Systems Control Study Manual, inherent risk is the risk that exists before any controls or mitigating factors are considered. Inherent risk is influenced by the nature and complexity of the business activities, the environment, and the technology involved. A new policy that allows staff members to remotely connect to the organization’s IT systems via personal or public computers is likely to increase the inherent risk of the organization, as it introduces new threats and vulnerabilities that may compromise the confidentiality, integrity, and availability of the IT systems and data. For example, personal or public computers may not have adequate security measures, such as antivirus software, firewalls, encryption, or authentication, and may expose the organization to malware, hacking, data leakage, or unauthorized access. Therefore, the answer is B. Inherent risk. References = Riskand Information Systems Control Study Manual, 7th Edition, Chapter 3, Section 3.1.1, Page 97. Remote Work: How to Secure Your Data

The most important reason to validate that risk responses have been executed as outlined in the risk response plan is to ensure that the residual risk is at an acceptable level. Residual risk is the risk that remains after applying a risk response. The risk response plan is the document that describes the actions and resources needed to address the risk. Validating the risk response execution is the process of verifying that the risk response actions have been performed as planned, and that they have achieved the desired results. Validating the risk response execution helps to measure and monitor the residual risk, and to ensure that it is within the risk tolerance of the organization and its stakeholders. The other reasons are not as important as ensuring that the residual risk is at an acceptable level, although they may be secondary benefits or outcomes of validating the risk response execution. References = Risk and Information Systems Control Study Manual, Chapter 4, Section 4.3.1, page 4-23.

Key risk indicators (KRIs) are metrics used by organizations to monitor and assess potential risks that may impact their objectives and performance. KRIs also provide early warning signals that help organizations identify, analyze, and address risks before they escalate into significant issues1. The most importantreason to monitor KRIs is to help management lessen the impact of realized risk, which is the actual or expected negative consequence of a risk event2. By monitoring KRIs, management can gain insight into the current and emerging risk exposures and trends, and evaluate their alignment with the organization’s risk appetite and tolerance3. This enables management to make informed and timely decisions and actions to mitigate or eliminate the risks, and to allocate resources and prioritize efforts where they are most needed. By lessening the impact of realized risk, management can also protect and enhance the organization’s reputation, performance, and value. Identifying early risk transfer strategies, analyzing the chain of risk events, and identifying the root cause of risk events are not the most important reasons to monitor KRIs, as they do not provide the same level of benefit and value as lessening the impact of realized risk. Identifying early risk transfer strategies is a process that involves finding and implementing ways to shift or share the risk or its impact to another party, such as through insurance, outsourcing, or hedging4. Identifying early risk transfer strategies can help to reduce the organization’s risk exposure and liability, but it does not necessarily lessen the impact of realized risk, as the risk or its impact may still occur or affect the organization indirectly. Analyzing the chain of risk events is a process that involves tracing and understanding the sequence and interconnection of the risk events that lead to a specific outcome or consequence5. Analyzing the chain of risk events can help to identify and address the root causes and contributing factors of the risk events, but it does not necessarily lessen the impact of realized risk, as the outcome or consequence may have already occurred or be unavoidable. Identifying the root cause of risk events is a process that involves finding and determining the underlying or fundamental source or reason of the risk events. Identifying the root cause of risk events can help to prevent or correct the recurrence or escalation of the risk events, but it does not necessarily lessen the impact of realized risk, as the impact may have already happened or be irreversible. References = 1: Key Risk Indicators: A Practical Guide | SafetyCulture2: Risk Impact - an overview | ScienceDirect Topics3: KRI Framework for Operational Risk Management | Workiva4: Risk Transfer - an overview | ScienceDirect Topics5: Event ChainMethodology - Wikipedia : [Root Cause Analysis - an overview | ScienceDirect Topics] : [Risk and Information Systems Control Study Manual, Chapter 4: Risk and Control Monitoring and Reporting, Section 4.1: Key Risk Indicators, pp. 181-185.]