CRISC Exam Dumps - Certified in Risk and Information Systems Control

According to the CRISC Review Manual (Digital Version), the primary reason a risk practitioner would be interested in an internal audit report is to evaluate the maturity of the risk management process, as it provides an independent and objective assessment of the effectiveness and efficiency of the risk management activities and controls. An internal audit report helps to:

Identify and evaluate the strengths and weaknesses of the risk management process and its alignment with the organization’s objectives and strategy

Detect and report any gaps, errors, or deficiencies in the risk identification, assessment, response, and monitoring processes and controls

Recommend and implement corrective actions or improvement measures to address the issues or findings in the risk management process

Communicate and coordinate the audit results and recommendations with the relevant stakeholders, such as the risk owners, the senior management, and the board

Enhance the accountability and transparency of the risk management process and its outcomes

References = CRISC Review Manual (Digital Version), Chapter 4: IT Risk Monitoring and Reporting, Section 4.2: IT Risk Reporting, pp. 223-2241

Thefoundationof any DRP is identifying whichbusiness processes are criticalto the organization’s operations and survival.

CRISC guidance:

“The initial step in disaster recovery and business continuity planning is identifying and prioritizing critical business processes and the resources required to support them.”

From there, RTOs and recovery strategies are developed.

Hence,C. Critical business processesis correct.

CRISC Reference:Domain 3 – Risk Response and Mitigation, Topic: Business Impact and Continuity Planning.

The purpose of aKey Control Indicator (KCI)is to measurecontrol effectiveness. Therefore, the most important design criterion is that itdemonstrates whether the control objective is being achieved.

ISACA defines:

“KCIs are metrics that measure the effectiveness of controls in achieving their intended objectives.”

Quantitative methods are desirable but secondary.

Hence,Bis correct.

CRISC Reference:Domain 4 – Risk and Control Monitoring and Reporting, Topic: Control Performance Metrics.

The organization’s process owner should own the risk of exposing the payroll data due to a control weakness at the third party, because the process owner is the person who is responsible for the business process that generates, uses, or transfers the payroll data. The process owner should also ensure that the third party complies with the contractual obligations and service level agreements that define the expected performance and security standards of the payroll data processing. The other options are not the correct answers, because they are not the primary owners of the risk, although they may also be involved in the risk management process. The third party’s IT operations manager, the third party’s chief risk officer (CRO), and the organization’s risk practitioner are examples of secondary owners or stakeholders of the risk, who may provide support, guidance, or oversight to the risk owner, but they are not accountable for the risk or the risk response strategy. References = CRISC: Certified in Risk & Information Systems Control Sample Questions

The best type of indicators to measure the effectiveness of an organization’s firewall rule set are key control indicators (KCIs). A firewall is a device or software that filters the network traffic based on a set of rules or policies. A firewall rule set is the configuration of the firewall that defines the criteria for allowing or blocking the traffic. A key control indicator is a metric that measures the performance and effectiveness of a control in achieving its objectives and mitigating the risks. A key control indicator can help to evaluate the adequacy and efficiency of the firewall rule set, and to identify any gaps, weaknesses, or issues that need to be addressed.Key risk indicators (KRIs), key management indicators (KMIs), and key performance indicators (KPIs) are not as suitable as key control indicators, as they measure different aspects of the risk management process, such as the level and nature of the risk exposure, the alignment and integration of the risk management activities, and the achievement of the risk management goals and targets. References = CRISC Review Manual, 6th Edition, ISACA, 2015, page 220.

Regulatory and legal compliance dictate data retention requirements, making them the primary basis for retention decisions.

Avoiding the risk means eliminating the source of the risk or changing the likelihood or impact to zero. In this case, the source of the risk is the collection of customers’ personally identifiable information (Pll), which could be exposed to unauthorized parties and result in severe fines. Therefore, the best action to avoid the risk is to modify the business processes to stop collecting Pll, as this would eliminate the possibility of data leakage and the associated consequences. The other options are not as effective as modifying the business processes, because they do not avoid the risk, but rather mitigate or transfer the risk, as explained below:

A. Reduce retention periods for Pll data is a mitigation action, as it reduces the impact of the risk by minimizing the amount of data that could be leaked and the duration of exposure.

B. Move Pll to a highly-secured outsourced site is a transfer action, as it shifts the responsibility of protecting the data to a third party, but does not eliminate the risk of data leakage.

D. Implement strong encryption for Pll is a mitigation action, as it reduces the likelihood of the risk by making the data unreadable to unauthorized parties, but does not eliminate the risk of data leakage. References = Risk and Information Systems Control Study Manual, Chapter 2, Section 2.2.2, page 40.