CRISC Exam Dumps - Certified in Risk and Information Systems Control

According to the What To Look For When Assessing Your Organization’s Security Risk Posture article, risk appetite is the amount and type of risk that an organization is willing to accept in pursuit of its objectives. Risk appetite should be aligned with the organization’s strategy, goals, and values, and should reflect the organization’s risk culture and capabilities. When reviewing a risk response strategy, senior management’s primary focus should be placed on the alignment with risk appetite, as this indicates how well the risk response strategy supports the organization’s objectives and expectations, and how consistent it is with the organization’s risk tolerance and risk profile. By ensuring the alignment with risk appetite, senior managementcan evaluate the effectiveness and efficiency of the risk response strategy, and determine if any adjustments or improvements are needed. References = What To Look For When Assessing Your Organization’s Security Risk Posture

An organization’s policies are the set of rules and guidelines that define the organization’s objectives, expectations, and responsibilities for its activities and operations. They provide the direction and framework for the organization’s governance, risk management, and compliance functions.

The most important characteristic of an organization’s policies is to reflect the organization’s risk appetite, which is the amount and type of risk that the organization is willing to accept in pursuit of its goals. The risk appetite is usually expressed as a range or a threshold, and it is aligned with the organization’s strategy and culture.

Reflecting the organization’s risk appetite in its policies ensures that the policies are consistent, appropriate, and proportional to the level and nature of the risks that the organization faces, and that they support the organization’s objectives and values. It also helps to optimize the balance between risk and return, and to create and protect value for the organization and its stakeholders.

The other options are not the most important characteristic of an organization’s policies, because they do not address the fundamental question of whether the policies are suitable and acceptable for the organization.

The risk assessment methodology is the process of identifying, analyzing, and evaluating the risks that may affect the organization’s objectives and operations. It involves determining the likelihood and impact of various risk scenarios, and prioritizing them based on their significance and urgency. The risk assessment methodology is important to inform and support the organization’s policies, but it is not the most important characteristic of the policies, because it does not indicate whether the policies are aligned with the organization’s risk appetite.

The capabilities are the resources and abilities that the organization has or can acquire to achieve its objectives and manage its risks. They include the people, processes, technologies, and assets that the organization uses or relies on. The capabilities are important to enable and implement theorganization’s policies, but they are not the most important characteristic of the policies, because they do not indicate whether the policies are aligned with the organization’s risk appetite.

The asset value is the worth or importance of the assets that the organization owns or controls, and that may be affected by the risks that the organization faces. The assets include the tangible and intangible resources that the organization uses or relies on, such as data, information, systems, infrastructure, reputation, etc. The asset value is important to measure and monitor the organization’s policies, but it is not the most important characteristic of the policies, because itdoes not indicate whether the policies are aligned with the organization’s risk appetite. References =

ISACA, CRISC Review Manual, 7th Edition, 2022, pp. 29-30, 34-35, 38-39, 44-45, 50-51, 54-55

ISACA, CRISC Review Questions, Answers & Explanations Database, 2022, QID 148

CRISC Practice Quiz and Exam Prep

Ensuring Timely Recovery of Critical Business Operations:

Primary Focus: The primary focus of a Disaster Recovery Management (DRM) framework is to ensure that critical business operations can be recovered and resumed in a timely manner after a disruption.

Business Continuity: Timely recovery of operations is essential for maintaining business continuity and minimizing the impact of disruptions on the organization’s ability to deliver products and services.

Recovery Objectives: Establishing clear recovery time objectives (RTOs) and recovery point objectives (RPOs) ensures that critical operations are prioritized and recovery efforts are aligned with business needs.

Comparison with Other Options:

Restoring IT and Cybersecurity Operations: While important, this is part of the broader goal of recovering critical business operations.

Assessing Impact and Probability of Disaster Scenarios: This is a preparatory step that informs the DRM framework but is not the primary focus.

Determining Capacity for Alternate Sites: This is a component of the DRM strategy but supports the primary focus of ensuring timely recovery.

Best Practices:

Comprehensive Planning: Develop comprehensive disaster recovery plans that prioritize the recovery of critical business operations.

Regular Testing: Regularly test and update disaster recovery plans to ensure they remain effective and aligned with business objectives.

Cross-Functional Collaboration: Involve all relevant business units in disaster recovery planning to ensure a coordinated and effective response.

The next step for the risk practitioner when a key external technology supplier refuses to provide control design and effectiveness information is to review the supplier’s contractual obligations. The contract between the organization and the supplier should specify the terms and conditions for the provision of the service or function, including the requirements for control design and effectiveness information. By reviewing the contract, the risk practitioner can determine if the supplier is breaching the contract and take appropriate actions to enforce the contract or terminate the relationship. Escalating the non-cooperation to management, excluding applicable controls from the assessment, and requesting risk acceptance from the business process owner are other possible steps, but they are not as effective as reviewing the supplier’s contractual obligations. References = ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, question 11; CRISC Review Manual, 6th Edition, page 144.

 The production environment is the environment where the application is deployed and used by the end users. The production environment should be protected from unauthorized or unintended changes that could compromise the availability, integrity, or confidentiality of the application and its data. Developers have access to the production environment presents the greatest risk to an application, as it could allow them tobypass the change management process, introduce errors or vulnerabilities, or manipulate the application or its data for malicious purposes. The other options are not as risky as developers having access to the production environment, as they involve different aspects of the application lifecycle:

Application controls are manual means that the application relies on human intervention to perform some functions or validations, such as data entry, reconciliation, or authorization. This could increase the risk of human error, fraud, or inefficiency, but it does not directly affect the production environment.

Application development is outsourced means that the application is developed by a third party, such as a vendor or a contractor. This could increase the risk of quality issues, contractual disputes, or intellectual property rights, but it does not directly affect the production environment.

Source code is escrowed means that the source code of the application is deposited with a trusted third party, such as a lawyer or a bank. This could provide assurance and continuity in case the original developer is unable or unwilling to maintain or support the application, but it does not directly affect the production environment. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 4, Section 4.1.1.1, pp. 144-145.

 It is most important for a risk practitioner to have an awareness of an organization’s processes in order to identify potential sources of risk, as this enables the risk practitioner to understand the objectives, activities, resources, dependencies, and outputs of the processes, and how they may be affected by internal or external factors that create uncertainty or variability. Identifying potential sources of risk is the first step in the risk identification process, which aims to find, recognize, and describe the risks that could affect the achievement of the organization’s goals. The other options are not the most important reasons for a risk practitioner to have an awareness of an organization’s processes, although they may be related or beneficial aspects of it. Performing a business impact analysis is a part of the risk analysis process, which aims to understand the nature and extent of the risks and their consequences on the organization’s objectives and functions. Establishing risk guidelines is a part of the risk governance process, which aims to define and communicate the risk management principles, policies, and roles across the organization. Understanding control design is a part of the risk response process, which aims to select and implement the appropriate actions to modify the risk level or achieve the risk objectives. References = Risk and Information Systems Control Study Manual, Chapter 2: IT Risk Identification, page 47.

Regular reviews with stakeholders ensure the risk scenarios are current, complete, and relevant. Stakeholders provide operational and strategic insights, enabling the identification of new, evolving, or obsolete risks. Periodic reviews foster dynamic and continuous alignment of risk scenarios with the business context and threat landscape.