CRISC Exam Dumps - Certified in Risk and Information Systems Control

Restricting access to the risk register on a need-to-know basis is important because it contains vulnerabilities and threats that could expose the organization to potential harm or loss if they are disclosed or exploited by unauthorized parties. The risk register is a tool that captures and documents the risk identification, analysis, evaluation, and treatment processes1. The risk register contains sensitive information such as the sources and causes of risk, the potential impacts and consequences of risk, the likelihood and frequency of risk occurrence, and the risk response actions and plans1. If this information is accessed by unauthorized parties, such as competitors, hackers, or malicious insiders, they could use it to launch attacks, sabotageoperations, or gain an unfair advantage over the organization. Therefore, access to the risk register should be limited to those who have a legitimate need and authorization to view, modify, or use the information, such as the risk owners, managers, or practitioners

 According to the Risk and Information Systems Control Study Manual, the main reason for analyzing risk scenarios is to identify additional risk scenarios that may not have been considered in the initial risk identification process. Risk scenarios are hypothetical situations that describe how, where, and why adverse events can occur. By analyzing risk scenarios, the risk manager can gain a better understanding of the relationships between assets, processes, threats, vulnerabilities, and other factors that may affect the organization’s objectives. Analyzing risk scenarios can also help to evaluate the likelihood and impact of the potential risks, as well as the effectiveness of the existing controls and the need for additional controls. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 5, Section 5.2.1, Page 215. How to write good risk scenarios and statements

The asset owner is the best suited to assist a risk practitioner in developing a relevant set of risk scenarios. The asset owner is the person who has the authority and responsibility for the IT assets that support the business processes. The asset owner can provide valuable information on the business objectives, requirements, and expectations that the IT assets should meet. The asset owner can also help identify the potential threats, vulnerabilities, and impacts that may affect the IT assets and the business processes. The asset owner can also suggest possible risk responses and mitigation strategies to address the risk scenarios. The other options are not as relevant as the asset owner, as they may not have the same level of knowledge, interest, or involvement in the IT assets and the business processes. References = Risk and Information Systems Control Study Manual, Chapter 1: IT Risk Identification, Section 1.3: IT Risk Scenarios, page 23.

The greatest challenge to managing an organization’s end-user devices is having an incomplete end-user device inventory. An end-user device inventory is a document that records and tracks all the devices that are owned, used, or managed by the organization’s end-users, such as laptops, tablets, smartphones, etc. An end-user device inventory helps to identify and classify the devices based on their type, model, location, owner, status, etc. An end-user device inventory also helps to monitor and control the devices, such as enforcing security policies, applying patches and updates, detecting and resolving issues, etc. Having an incomplete end-user device inventory could lead to a lack of visibility and accountability for the devices, which could increase the risk of data loss, theft, or compromise, as well as the cost and complexity of device management. The other options are not as challenging as having an incomplete end-user device inventory, although they may also pose some difficulties or limitations for the device management. Unsupported end-user applications, incompatible end-user devices, and multiple end-user device models are all factors that could affect the functionality and compatibility of the devices, but they do notnecessarily affect the visibility and accountability of the devices. References = Risk and Information Systems Control Study Manual, Chapter 3, Section 3.2.1, page 3-11.

Key risk indicators (KRIs) are most useful during the monitoring phase of the risk management process, as they provide timely and relevant information on the current and future risk status and performance. KRIs are metrics that measure the level of risk exposure and the effectiveness of risk response strategies, and they have predefined thresholds that indicate the acceptable or unacceptable risk status. By monitoring the KRIs, the risk practitioner can identify and report any changes or deviations in the risk level, and take appropriate actions to manage the risk. KRIs are not most useful during the analysis, identification, or response selection phases, as they do not help to assess the likelihood or impact of the risk, to find the sources or causes of the risk, or to evaluate or choose the optimal risk response option. References = CRISC: Certified in Risk & Information Systems Control Sample Questions, question 222.

A managed security service provider (MSSP) is a third-party entity that offers network security services to an organization, such as firewall operation, administration, monitoring, and maintenance1. A firewall is a device or software that controls the incoming and outgoing network traffic based on predefined rules2. A firewall administrator is a person or entity that manages and maintains the firewall configuration, rules, and policies3. When an organizationuses an MSSP as a firewall administrator, the greatest concern is the exposure of log data, because log data contains sensitive and valuable information about the organization’s network activity, such as source and destination IP addresses, ports, protocols, timestamps, and user identities4. If the log data is not protected properly by the MSSP, it could be accessed, modified, or stolen by unauthorized parties, such as hackers, competitors, or regulators, which could result in data breaches, compliance violations, reputational damage, or legal liabilities for the organization5. The other options are not as concerning as the exposure of log data, because they do not pose a direct and immediate threat to the organization’s data security and privacy, but rather affect the quality and efficiency of the firewall management, as explained below:

B. Lack of governance is a concern when an organization uses an MSSP as a firewall administrator, because it could lead to misalignment or inconsistency between the organization’s and the MSSP’s objectives, policies, and standards for firewall management. However, this concern can be mitigated by establishing a clear and comprehensive service level agreement (SLA) with the MSSP,which defines the roles, responsibilities, expectations, and performance indicators for the firewall management service6.

C. Increased number of firewall rules is a concern when an organization uses an MSSP as a firewall administrator, because it could create complexity, confusion, or duplication in the firewall configuration, which could affect the firewall performance and security. However, this concern can be mitigated by conducting regular firewall audits and reviews with the MSSP, which can help to rationalize, optimize, and update the firewall rules, and to ensure that they are relevant, effective, and efficient for the organization’s network environment.

D. Lack of agreed-upon standards is a concern when an organization uses an MSSP as a firewall administrator, because it could result in gaps or weaknesses in the firewall design and implementation, which could compromise the firewall functionality and security. However, this concern can be mitigated by adopting and following industry best practices, norms, and expectations for firewall management, such as the National Institute of Standards and Technology (NIST) guidelines, the Center for Internet Security (CIS) benchmarks, or the Payment Card Industry Data Security Standard (PCI DSS) requirements . References = Risk and Information Systems Control Study Manual, Chapter 4, Section 4.2.1, page 115. What Is A Managed Security Service Provider (MSSP)? - Fortinet, What is a Firewall? - Definition from Techopedia, Firewall Administrator Job Description - Betterteam, What is a Firewall Log? - Definition from Techopedia, Firewall Log Management: Why It’s Important and How to Do It Right, How to Write a Service Level Agreement (SLA) for an MSSP, [Firewall Auditing: BestPractices for Security and Compliance], [Guidelines on Firewalls and Firewall Policy | CSRC], [CIS Firewall Benchmark - CIS], [PCI DSS and Firewalls - PCI Security Standards Council]

Engaging key stakeholders in risk management practices is the best way to embed risk management within the organization. This means that the risk practitioner involves andcommunicates with the people who have an interest or influence in the organization’s objectives, activities, and risks, such as senior management, business unit managers, employees, customers, suppliers, regulators, etc.

Engaging key stakeholders in risk management practices helps to create a risk-aware culture, align risk management with the organization’s strategy and vision, ensure the ownership and accountability of risks and controls, obtain the support and commitment for risk management initiatives, and improve the risk management performance and outcomes.

The other options are not the best ways to embed risk management within the organization. They are either secondary or not essential for risk management.

The references for this answer are:

Risk IT Framework, page 17

Information Technology & Security, page 11

Risk Scenarios Starter Pack, page 9