CRISC Exam Dumps - Certified in Risk and Information Systems Control

The best measure of the impact of business interruptions caused by an IT service outage is the sustained financial loss. This is the amount of money that the enterprise loses due to the disruption of its normal operations, such as lost revenue, increased expenses, or reduced profits. Sustained financial loss reflects the extent and severity of the business interruption, and theeffect on the enterprise’s objectives and performance. Sustained financial loss also helps to determine the recovery objectives and priorities, and to justify the investment in risk mitigation and business continuity strategies. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 2, Section 2.2.2, page 691

The primary reason for an organization to include an acceptable use banner when users log in is to reduce the likelihood of insider threat, as it informs the users of the policies, rules, andexpectations for the use of the organization’s IT resources, and deters them from engaging in unauthorized or malicious activities. The other options are not the primary reasons, as they are more related to the detection, prevention, or mitigation of insider threat, respectively, rather than the reduction of the likelihood of insider threat. References = CRISC Review Manual, 7th Edition, page 155.

Data Privacy Principles:

Consent and Purpose Limitation: According to data privacy regulations like GDPR, data subjects must provide explicit consent for specific purposes. Using data for purposes beyond what was consented to violates these principles, posing significant compliance risks.

Transparency and Accountability: Organizations must be transparent about how they use personal data and ensure accountability in data processing. Using data without consent undermines this transparency and accountability.

Greatest Risk of Noncompliance:

Legal and Regulatory Risks: Using personal data without consent can lead to severe penalties under laws like GDPR and CPRA. These laws impose heavy fines for noncompliance, making this scenario the highest risk.

Reputational Damage: Unauthorized use of personal data can severely damage an organization’s reputation, leading to loss of customer trust and potential financial losses.

Operational Impact: Ensuring compliance with consent requirements is fundamental to an organization's data processing activities. Failure to do so can disrupt business operations and necessitate significant remediation efforts.

Comparison with Other Options:

Making Data Available to a Larger Audience of Customers: While potentially risky, this does not inherently violate data privacy principles if done within consented uses.

Data Not Being Disposed According to the Retention Policy: This poses risks related to data minimization and retention principles but is less severe than unauthorized data use.

Personal Data Not Being De-identified Properly: This is a significant risk but typically involves fewer direct legal and regulatory implications compared to using data without consent.

Cloud computing is a model for enabling ubiquitous, convenient, on-demand network access to a shared pool of configurable computing resources that can be rapidly provisioned and released with minimal management effort or service provider interaction. The cloud computing architecture is the structure and design of the cloud environment, which includes the components, services, interfaces, standards, and configurations. The cloud computing architecture should be used as the primary basis for evaluating the state of an organization’s cloud computing environment against leading practices, as it determines the performance, security, reliability, scalability, and interoperability of the cloud services. By comparing the cloud computing architecture with the best practices and benchmarks in the industry, an organization can identify the gaps and weaknesses in the cloud environment and implement the necessary improvements and controls. References = CRISC Review Manual, 7th Edition, page 156.

An IT risk register is a document that records and tracks the IT-related risks that an organization faces, as well as the information and actions related to those risks, such as the risk description, assessment, response, status, and owner. An IT risk register is a valuable tool for managing andcommunicating IT risks and their impact on the organization’s objectives and operations. However, an IT risk register may also contain sensitive or confidential information that should not be disclosed or shared with unauthorized or irrelevant parties, as it may compromise the security, privacy, or reputation of the organization or its stakeholders. Therefore, the risk manager’s best approach to the request from the head of a business operations department to review the entire IT risk register is to determine the purpose of the request before sharing the register. This is a technique to understand and evaluate the reason and the need for the request, as well as the scope and the level of access that the requester requires or expects. By determining the purpose of therequest, the risk manager can ensure that the request is legitimate, appropriate, and relevant, and that the requester has a clear and valid interest or stake in the IT risk register. The risk manager can also ensure that the request is aligned with the organization’s policies, procedures, and standards for IT risk management and information sharing. The risk manager can also use the purpose of the request to decide what and how much information to share with the requester, and what conditions or restrictions to apply, such as confidentiality, accuracy, or timeliness. The other options are not the best approaches to the request from the head of a business operations department to review the entire IT risk register, as they may be premature, unnecessary, or ineffective. Escalating to senior management is a technique to involve or inform the higher-level authorities or decision makers about the request, which may be useful or required in some cases, but it may not be the first or the best step to take, as it may delay or complicate the process, or undermine the risk manager’s authority or responsibility. Requiring a nondisclosure agreement is a technique to protect the confidentiality and integrity of the information in the IT risk register by legally binding the requester to not disclose or misuse the information. However, a nondisclosure agreement may not be needed or appropriate in every case, and it may not prevent or address other issues or risks related to the information sharing, such as relevance, accuracy, or timeliness. Sanitizing portions of the register is a technique toremove or redact the sensitive or confidential information from the IT risk register before sharing it with the requester, which may be necessary or prudent in some cases, but it may not be sufficient or satisfactory, as it may affect the completeness, usefulness, or validity of the information, or raise questions or concerns from the requester.

According to the Risk and Information Systems Control documents, the risk practitioner should conclude that no action is required as there was no impact. The fact that there have been no interruptions to business operations despite the increasing hardware failure incidents indicates that the built-in redundancy and fault-tolerant architecture are effective in ensuring continuity.

Options A and C are not necessary in this scenario. A root cause analysis (Option A) might be considered if there were actual interruptions or impact on business operations. However, since there were no interruptions, a root cause analysis may not be immediately required. Similarly, upgrading hardware (Option C) may not be necessary if the existing controls are effectively preventing business disruptions.

References = Risk and Information Systems Control Study Manual