CRISC Exam Dumps - Certified in Risk and Information Systems Control

 Configuration updates are changes made to the settings, parameters, or components of an IT system or network. Configuration updates can affect the functionality, performance, security, and reliability of the system or network. Therefore, configuration updates should follow formal change control, which is a process that ensures that changes are authorized, documented, tested, and implemented in a controlled manner. Formal change control can help prevent errors, conflicts, disruptions, and vulnerabilities that may arise from configuration updates. Configuration updates that do not follow formal change control should be of greatest concern to a risk practitioner when determining the effectiveness of IT controls, as they can introduce newrisks or compromise existing controls. References = Risk and Information Systems Control Study Manual, Chapter 3: Risk Response and Mitigation, Section 3.5: Control Monitoring and Reporting, p. 161-162.

Mean time between failures (MTBF) is a key performance indicator (KPI) that measures the average time that a system or component operates without interruption or failure. MTBF is a common metric for reliability and availability of IT services. A higher MTBF indicates a lower frequency of failures and a higher ability to deliver uninterrupted IT services. According to the CRISC Review Manual 2022, MTBF is one of the KPIs for IT service delivery1. According to the CRISC Review Questions, Answers & Explanations Manual 2022, MTBF is the correct answer to this question2.

Mean time to recover (MTTR), planned downtime, and unplanned downtime are not the best KPIs to measure the ability to deliver uninterrupted IT services. MTTR measures the average time that it takes to restore a system or component to normal operation after a failure. Planned downtime measures the scheduled time that a system or component is not available for use due to maintenance or upgrades. Unplanned downtime measures the unscheduled time that a system or component is not available for use due to failures or incidents. These KPIs are useful for measuring the impact and duration of service interruptions, but they do not directly reflect the ability to prevent or avoid service interruptions.

Validating the risk scenarios is the most important time to involve business stakeholders, as they can provide feedback on the relevance, completeness, and accuracy of the scenarios. They can also help to ensure that the scenarios are aligned with the business objectives, context, and risk appetite. By involving business stakeholders in the validation process, the risk practitioner can increase the credibility and acceptance of the risk scenarios.

Updating the risk register, documenting the risk scenarios, and identifying risk mitigation controls are all important steps in the risk scenario development process, but they are not the most important time to involve business stakeholders. These steps can be performed by the risk practitioner with input from othersources, such as subject matter experts, historical data, industry standards, etc. References = CRISC Review Manual, 7th Edition, ISACA, 2020, page 47-481

The first step in selecting a risk response after a penetration test reveals several vulnerabilities in a web-facing application is to assess the level of risk associated with the vulnerabilities, as it involves evaluating the likelihood and impact of the vulnerabilities being exploited, and comparing them with the risk tolerance and appetite of the organization. Correcting the vulnerabilities, developing a risk response action plan, and communicating the vulnerabilities are possible steps in selecting a risk response, but they are not the first step, as they require the prior knowledge of the risk level and the optimal risk response. References = CRISC Review Manual, 7th Edition, page 108.

Comprehensive and Detailed Explanation From Exact Extract:

The risk management function acts as a consultant and facilitator in IT projects, helping the project team identify, assess, and respond to risks effectively. It does not directly control project status or costs but supports decision-making. Updating risk registers is an operational task often handled by the project team with guidance from risk management. Eliminating all risk is impractical; instead, risks are managed within appetite levels.

The greatest concern for a risk practitioner reviewing current key risk indicators (KRIs) is that the KRIs’ source data lacks integrity, as this means that the data is inaccurate, incomplete, inconsistent, or outdated, and therefore cannot provide reliable and valid information on the risk level and performance. The KRIs are metrics that measure and monitor the changes in the risk exposure and the effectiveness of the risk response over time. The KRIs’ source data should be collected and verified from credible and relevant sources, and should be updated and maintained regularly. The KRIs’ source data should also be aligned and integrated with the enterprise’s data governance and quality standards. The other options are not the greatest concerns for a risk practitioner reviewing current key risk indicators (KRIs), although they may pose some challenges or limitations. The KRIs are not automated is a concern for the efficiency and timeliness of the KRI reporting and analysis, but it does not affect the integrity of the KRI sourcedata. The KRIs are not quantitative is a concern for the objectivity and comparability of the KRI measurement and prioritization, but it does not affect the integrity of the KRI source data. The KRIs do not allow for trend analysis is a concern for the usefulness and relevance of the KRI communication and decision making, but it does not affect the integrity of the KRI source data. References = Risk and Information Systems Control Study Manual, Chapter 5: Risk and Control Monitoring and Reporting, page 183.

Cost-benefit analysis evaluates whether the benefits (e.g., risk reduction, efficiency) of implementing the new tool justify the costs (e.g., acquisition, maintenance). This analysis is critical for informed decision-making and resource optimization.

According to the CRISC Review Manual (Digital Version), the organization’s culture is the most important factor affecting risk management in an organization, as it influences the riskawareness, risk attitude, risk behavior and risk communication of all stakeholders. The organization’s culture is defined as the shared values, beliefs, norms and expectations that guide the actions and interactions of the members of the organization. The organization’s culture affects how risk management is perceived, supported, implemented and integrated within the organization. A strong risk culture is one that:

Aligns with the organization’s vision, mission, strategy and objectives

Promotes a common understanding of risk and its implications for the organization

Encourages the identification, assessment, response and monitoring of risks at all levels

Fosters a proactive, collaborative and transparent approach to risk management

Empowers and rewards the stakeholders for taking ownership and accountability of risks

Enables continuous learning and improvement of risk management capabilities and maturity

References = CRISC Review Manual (Digital Version), Chapter 1: IT Risk Identification, Section 1.3: IT Risk Culture, pp. 23-251