CRISC Exam Dumps - Certified in Risk and Information Systems Control

Showing projected residual risk is the most helpful way to respond to the request of explaining how existing risk treatment plans would affect risk posture at the end of the year. Residual risk is the level of risk that remains after the implementation of risk responses1. Projected residual risk is the estimated level of risk that will remain at a future point in time, based on the assumptions and expectations of the risk responses2. By showing projected residual risk, the risk practitioner can:

Demonstrate the effectiveness and efficiency of the risk treatment plans, and how they reduce the risk level from the inherent risk (the risk before the risk responses) to the residual risk3.

Compare the projected residual risk with the risk appetite and tolerance, which are the amount and type of risk that the organization is willing to accept or pursue in order to achieve its objectives4. This can help to determine whether the projected residual risk is acceptable or not, and whether the risk treatment plans are consistent and proportional to the risk level5.

Identify and address any gaps, issues, or challenges that may affect the achievement of the projected residual risk, and recommend and implement appropriate improvement actions or contingency plans6.

The other options are not the most helpful ways to respond to the request, because:

Assessing risk with no controls in place is not the most helpful way, as it does not reflect the current or future risk posture of the organization. Controls are the measures or actions that are implemented to modify the risk, such as prevent, detect, correct, or mitigate the risk7. Assessing risk with no controls in place can help to measure the inherent risk, but it does not show the impact or outcome of the risk treatment plans.

Providing peer benchmarking results is not the most helpful way, as it does not reflect the specific or unique risk profile of the organization. Peer benchmarking is the process ofcomparing the organization’s risk level and performance with its peers or competitors, based on a common set of criteria or indicators8. Providing peer benchmarking results can help to provide a reference or a standard for the risk posture, but it does not show the effect or result of the risk treatment plans.

Assessing risk with current controls in place is not the most helpful way, as it does not reflect the future or projected risk posture of the organization. Assessing risk with current controls in place can help to measure the current residual risk, but it does not show the expected or estimated residual risk at the end of the year.

References =

Residual Risk - CIO Wiki

Projected Residual Risk - CIO Wiki

Risk Treatment Plan - CIO Wiki

Risk Appetite and Tolerance - CIO Wiki

Risk Appetite: What It Is and Why It Matters - Gartner

Risk Monitoring and Review - The National Academies Press

Control - CIO Wiki

Benchmarking - CIO Wiki

[Risk Treatment - CIO Wiki]

Data archival processes should be the primary focus of a risk practitioner when ensuring that organization records are being retained for a sufficient period of time to meet legal obligations, because data archival processes ensure that records are stored securely, reliably, and accessibly for as long as they are needed. Data archival processes also help to manage the storage capacity, retention policies, and disposal procedures of records. Data duplication processes are not the primary focus, because they are mainly used for backup and recovery purposes, not for long-term retention. Data anonymization processes are not the primary focus, because they are mainly used for privacy and confidentiality purposes, not for legal compliance. Data protection processes are not the primary focus, because they are mainly used for security and integrity purposes, not for retention requirements. References = Free ISACA CRISC Sample Questions and Study Guide

Personal data is any information that relates to an identified or identifiable individual, such as name, address, email, phone number, etc. Processing personal data involves collecting, storing, using, disclosing, or deleting it. Processing personal data poses various risks to the privacy and security of the data subjects,such as unauthorized access, disclosure, modification, or loss. Therefore, processing personal data requires appropriate technical and organizational measures to safeguard the data and to comply with the relevant laws and regulations. One of the most effective practices to safeguard the processing of personal data is to use tokenization. Tokenization is a technique that replaces sensitive data elements with non-sensitive equivalents, called tokens, that have no meaning or value outside of a specific system or context. Tokenization reduces the risk of exposing personal data to unauthorized parties, as the tokens cannot be reversed or linked back to the original data without the proper key or algorithm. Tokenization also helps to minimize the amount of personal data that is stored or transmitted, and to limit the scope of compliance requirements. References = Risk and Information Systems Control Study Manual, Chapter 4, Section 4.3.2.2, p. 196-197

 Ensuring time synchronization of log sources is the most important consideration when developing a log collection and correlation strategy, as it enables the accurate and consistent analysis and correlation of log data from different sources and systems. Time synchronization can help to identify the sequence and causality of events, and to detect and respond to any anomalies or incidents. Time synchronization can also facilitate the compliance and audit of the log data, and support the forensic investigation and legal action if needed. References = Most Asked CRISC Exam Questions and Answers, Question 10. CRISC: Certified in Risk & Information Systems Control Sample Questions, Question 248. ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, Question 248. CRISC by Isaca Actual Free Exam Q&As, Question 9.

IT risk scenarios are hypothetical situations that describe how IT-related risks can affect the organization’s objectives, operations, or assets1. IT risk scenarios help to make IT risk more concrete and tangible, and to enable proper risk analysis and assessment2. IT risk scenarios are developed after IT risks are identified, and are used as inputs for risk analysis, where the frequency and impact of the scenarios are estimated3.

The most important factor to the successful development of IT risk scenarios is threat and vulnerability analysis. Threat and vulnerability analysis is the process of identifying and evaluating the potential sources and causes of IT risks, such as malicious actors, natural disasters, human errors, or technical failures4. Threat and vulnerability analysis can help to:

Define the scope and boundaries of the IT risk scenarios, and ensure that they are relevant and realistic

Identify the critical assets, processes, or functions that are exposed or affected by the IT risks, and assess their value and importance to the organization

Determine the likelihood and methods of the threat events, and the existing or potential weaknesses or gaps in the IT control environment

Estimate the potential consequences and impacts of the IT risks, such as financial losses, operational disruptions, reputational damages, or compliance violations5

References = IT Scenario Analysis in Enterprise Risk Management - ISACA, IT Risk Scenarios - Morland-Austin, Threat and Vulnerability Analysis - Wikipedia, Threat and Vulnerability Analysis - ISACA

Automated data indicating that risk has been reduced provides the most tenable evidence that a business process control is effective, because it shows the actual impact and outcome of the control on the risk level. A demonstration that the control is operating as designed, a successful walk-through of the associated risk assessment, and a management attestation that the control is operating effectively are not the most tenable evidence, because they are based on subjective judgments, assumptions, or expectations, not on objective facts or results. References = CRISC: Certified in Risk & Information Systems Control Sample Questions

Residual system access is the risk that the customer service representatives who are transferred to the sales department may still have access to the systems or applications that they used in their previous role, which may not be relevant or authorized for their new role.

The access control manager is the person or function who is responsible for defining, implementing, and maintaining the policies and procedures for granting, modifying, reviewing, and revoking access rights to the systems or applications, based on the principle of least privilege and the segregation of duties.

The access control manager is responsible for mitigating the risk associated with residual system access, by ensuring that the access rights of the customer service representatives are updated or removed according to their new role and responsibilities, and that the access changes are documented and approved by the appropriate authorities.

The other options are not responsible for mitigating the risk associated with residual system access. They are either irrelevant or less effective than the access control manager.

The references for this answer are:

Risk IT Framework, page 26

Information Technology & Security, page 20

Risk Scenarios Starter Pack, page 18

Residual risk is the risk that remains after the implementation of controls. It is important for a risk practitioner to verify that the residual risk is within the acceptable levels defined by the enterprise’s risk appetite and tolerance. This ensures that the controls are effective in reducing the risk exposure to an acceptable level and align with the enterprise’s objectives and strategy. References = CRISC Review Manual 27th Edition, page 131. Most Asked CRISC Exam Questions and Answers.