CRISC Exam Dumps - Certified in Risk and Information Systems Control

The first course of action for a risk practitioner when discovering a deficiency in a critical system that cannot be patched is to conduct a risk assessment. A risk assessment is a process of identifying, analyzing, and evaluating the risks that could affect the achievement of the objectives of the system or the organization. A risk assessment helps to determine the level and nature of the risk exposure, and to prioritize and respond to the risks. Conducting a risk assessment is the first course of action, as it helps to understand the source, cause, and impact of the deficiency, and to estimate the likelihood and consequences of the risk events that could exploit the deficiency. Conducting a risk assessment also helps to identify and evaluate the existing or potential controls or mitigations that could address the deficiency, and to recommend the appropriate risk treatment options. Reporting the issue to internal audit, submitting a request to change management, and reviewing the business impact assessment are not the first courses ofaction, as they are either the outputs or the inputs of the risk assessment process, and they do not address the primary need of assessing the risk situation and status. References = CRISC Review Manual, 6th Edition, ISACA, 2015, page 49.

ï‚· Internal Audit Review:

An internal audit review of control design involves a thorough examination of the control’s structure, implementation, and effectiveness.

Auditors use a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

ï‚· Steps in Audit Review:

Understand Control Objectives:Auditors ensure that the control is designed to meet specific risk management objectives.

Evaluate Implementation:Check whether the control has been implemented as designed.

Test Effectiveness:Perform tests to verify that the control operates effectively and consistently over time.

ï‚· Importance of Audit Review:

Provides independent and objective assurance that the control is appropriately designed and functioning as intended.

Identifies any deficiencies or areas for improvement in the control design.

ï‚· Comparing Other Validation Methods:

Senior Management Approval:Indicates support but does not validate effectiveness.

Documentation of Control Objectives:Important for understanding intent but not validation.

Control Owner Attestation:Provides insight but lacks the independence of an audit.

ï‚· References:

The CRISC Review Manual highlights the role of internal audits in validating control design and ensuring effective risk management (CRISC Review Manual, Chapter 3: Risk Response and Mitigation, Section 3.9 Control Testing and Effectiveness Evaluation)​​.

The most important thing to include in a risk assessment of an emerging technology is the impact and likelihood ratings of the risks associated with the technology. Impact and likelihood ratings are the measures of the potential consequences and probabilities of the risk events that could affect the achievement of the enterprise’s objectives. Impact and likelihood ratings can help to evaluate the level andnature of the risk exposure, and to prioritize the risks for further analysis and response. Impact and likelihood ratings can also help to communicate the risk profile and appetite of the enterprise, and to support the risk-based decision making. Risk response plans, risk and control ownership, and key controls are not as important as impact and likelihood ratings, as they are the outputs or outcomes of the risk assessment process, and not the inputs or components of the risk assessment process. References = CRISC Review Manual, 6th Edition, ISACA, 2015, page 49.

A penetration test is a simulated cyberattack on a web infrastructure to evaluate its security posture and identify any vulnerabilities or weaknesses that could be exploited by an attacker. A penetration test is the best indicator of how well a web infrastructure protects critical information from an attacker, as it mimics the real-world scenarios and techniques that an attacker would use, and measures the effectiveness of the existing security controls and countermeasures. A penetration test can also provide recommendations for improving the security of the web infrastructure and reducing the risk exposure. References = ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, Question 236. CRISC by Isaca Actual Free Exam Q&As, Question 9. CRISC: Certified in Risk & Information Systems Control Sample Questions, Question 236. Most Asked CRISC Exam Questions and Answers, Question 10.

 The best course of action for a risk practitioner upon learning that a control under internal review may no longer be necessary is to obtain approval to retire the control. This will help to ensure that the control is removed in a controlled and documented manner, and that the relevant stakeholders are informed and agree with the decision. Retiring unnecessary controls can also help to optimize the control environment, reduce costs and complexity, and improve efficiency and performance. Updating the status of the control as obsolete, consulting the internal auditor for a second opinion, and verifying the effectiveness of the original mitigation plan are not the best courses of action, as they may not address the root cause of the control’s obsolescence, and may delay or complicate the control retirement process. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 3, Section 3.1.1.2, page 1071

1: ISACA Certified in Risk and Information Systems Control (CRISC®) Exam Guide, Answer to Question 649.

 The most essential content to include in an IT risk awareness program is how to comply with the organization’s IT risk and information security policies. This will help to ensure that the staff members are aware of their roles and responsibilities, and that they follow the best practices andstandards to protect the organization’s information assets and systems. Compliance with the IT risk and information security policies also helps to reduce the likelihood and impact of IT-related incidents and breaches, and to align the IT activities with the organization’s objectives and strategies. Populating risk register entries, prioritizing IT-related actions, and defining the IT risk framework are important aspects of IT risk management, but they are not the most essential content to include in an IT risk awareness program. 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 646.

Effective risk reporting to the board of directors requires communication that aligns with the organization's strategic goals and business value. By correlating risk information to corporate objectives, the board can better understand the implications of risks on the organization's performance and make informed decisions. This approach ensures that risk discussions are relevant and meaningful at the executive level.​