CRISC Exam Dumps - Certified in Risk and Information Systems Control

Risk capacity refers to the maximum level of risk an organization can absorb or sustain without jeopardizing its viability. It is directly influenced by the organization’s financial resources and largest annualized losses it can bear. Risk appetite and risk tolerance reflect willingness and acceptable variations but are distinct from capacity, which is the hard limit on risk exposure.

Before taking further action, it is essential to understand the scope of the issue. Identifying the extent of violations helps determine the potential risk impact and informs appropriate corrective actions.

According to the CRISC Review Manual1, the application owner is the person who has the authority and accountability for the achievement of the application objectives and the management of the associated risks. The application owner is responsible for defining the level of resiliency needed for the application, which is the ability of the application to recover from disruptions and continue to operate. The application owner is also responsible for accepting or rejecting the residual risks after the implementation of the disaster recovery controls, which are the measures to restore the application functionality and data in the event of a disaster. Therefore, the risk owner in this scenario is the application owner, as they are the ones who will be affected by the potential impact of the disaster on the application and its objectives. References = CRISC Review Manual1, page 194.

The main purpose of a risk register is to enable well-informed risk management decisions by providing a comprehensive and up-to-date record of all the identified risks, their analysis, and their responses. A risk register is a tool that helps to document, monitor, and communicate the status and outcome of risk management activities. A risk register also facilitates the review and evaluation of the effectiveness of risk management processes and controls. Documenting the risk universe, promoting an understanding of risk,and identifying stakeholders are possible benefits of a risk register, but they are not the main purpose. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 2, Section 2.1.1.3, page 531

1: ISACA Certified in Risk and Information Systems Control (CRISC®) Exam Guide, Answer to Question 640.

 The BEST way to enable mitigation of newly identified risk factors related to internet of Things (loT) is to introduce control procedures early in the life cycle, because it can help to prevent or reduce the occurrence or impact of the risk factors, and to ensure that the loT devices and systems are designed and developed with security and quality in mind. The control procedures should include requirements analysis, design review, testing, validation, and verification of the loT devices and systems. The other options are not as effective as introducing control procedures early in the life cycle, because:

Option B: Implementing loT device software monitoring is a good way to detect and respond to the risk factors related to loT, but it does not enable mitigation of the risk factors, which is the proactive and preventive approach. Software monitoring is a reactive and corrective measure that may not be able to prevent or reduce the occurrence or impact of the risk factors, especially if they are embedded in the hardware or firmware of the loT devices.

Option C: Performing periodic risk assessments of loT is a necessary way to identify and evaluate the risk factors related to loT, but it does not enable mitigation of the risk factors, which is the action-oriented and solution-focused approach. Risk assessment is an analytical and descriptive process that may not provide the specific and effective measures to address or mitigate the risk factors, especially if they are complex or dynamic.

Option D: Performing secure code reviews is a useful way to verify and improve the security and quality of the software of the loT devices and systems, but it does not enable mitigation of the risk factors related to loT, which may involve more than just the software aspect. The risk factors related to loT may also include the hardware, firmware, network, communication, data, andintegration aspects, which may not be covered or resolved by the code reviews. References = Risk and Information Systems Control Study Manual, 7th Edition, ISACA, 2020, p. 214.

Risk transferinvolves shifting the responsibility for managing specific risks to a third party. By outsourcing the security function, the organization transfers the associated risk to a vendor specializing in security management.

Scanning the Internet for unauthorized usage of the enterprise ' s brand proactively identifies fraudulent activities and enables timely response. This aligns withBrand Protection and Risk Mitigationstrategies.