CRISC Exam Dumps - Certified in Risk and Information Systems Control

 The greatest concern for the risk practitioner when an organization wants to launch a campaign to advertise a new product using data analytics is the purpose limitation. Purpose limitation is a principle that states that personal data should be collected for specified, explicit, and legitimate purposes, and not further processed in a manner that is incompatible with those purposes. By using data analytics to target potential customers, the organization may violate the purpose limitation principle if the data was collected for a different purpose and the customers did not consent to the new use of their data. Data minimization, accountability, and accuracy are other principles that should be followed, but they are not as concerning as the purposelimitation. References = ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, question 8; CRISC Review Manual, 6th Edition, page 97.

When proposing a risk acceptance framework for an organization, the most important consideration for the risk practitioner is to clearly define the individuals or roles authorized to approve risk acceptance. This ensures that the process is controlled, accountable, and aligned with the organization’s risk management policies.

Risk Acceptance Framework:

Purpose:A risk acceptance framework provides structured criteria and processes for deciding whether to accept a risk. This includes evaluating the risk against the organization's risk appetite and tolerance.

Authorization:Identifying who has the authority to accept risk is critical. This ensures that only those with the appropriate knowledge, experience, and understanding of the organization's risk appetite and strategic objectives can make these decisions.

Importance of Authorized Individuals:

Accountability:Clearly defined roles for risk acceptance ensure accountability. It is essential that those making the decisions are accountable for the outcomes and understand the potential impact of their decisions.

Consistency:By defining specific roles, the organization ensures consistency in risk acceptance decisions, reducing the likelihood of ad-hoc or inconsistent risk management practices.

Alignment with Strategy:Authorized individuals are typically those who understand the strategic objectives of the organization, ensuring that risk acceptance aligns with these goals.

Internal audit provides independent assurance to the board and senior management regarding the effectiveness of risk management program implementation, consistent withGovernance and Assurance Principles.

ï‚· Understanding the Question:

The question is about mitigating the impact of social engineering attacks that use AI technology to impersonate senior management personnel.

ï‚· Analyzing the Options:

A. Training and awareness of employees for increased vigilance:This is the most proactive approach. Educating employees about the risks and signs of social engineering attacks enhances their ability to recognize and respond appropriately to such threats.

B. Increased monitoring of executive accounts:Useful but reactive; it doesn't prevent initial attempts.

C. Subscription to data breach monitoring sites:Helps detect breaches but doesn’t directly mitigate impersonation attacks.

D. Suspension and takedown of malicious domains or accounts:Reactive measure and might not be immediate or comprehensive.

ï‚·

Importance of Training:Employees are often the first line of defense against social engineering attacks. Regular training ensures they are aware of the tactics used in such attacks, including those leveraging AI, and how to respond effectively.

Proactive Measure:Training increases vigilance and the likelihood of early detection, reducing the potential impact of the attack.

The ultimate objective of utilizing key control indicators (KCIs) in the risk management process is to provide early warning signs of a potential change in risk level, as they indicate the performance and adequacy of the controls, and alert the stakeholders to any control gaps or deficiencies that may affect the risk exposure and impact. The other options are not the ultimate objectives, as they are more related to the insight, basis, or benchmark of the risk managementprocess, respectively, rather than the early warning sign of the risk management process. References = CRISC Review Manual, 7th Edition, page 110.

Comprehensive and Detailed Explanation From Exact Extract:

A decrease in risk appetite typically results in tighter tolerances and thresholds for KRIs, as the organization becomes less willing to accept certain levels of risk. KPIs and risk objectives may also be impacted but are less directly tied to appetite shifts. Risk trends reflect historical data rather than appetite settings

Awareness training is the most likely control that failed in this scenario, as it is designed to educate employees on the proper handling and protection of sensitive data, and the consequences of violating the organizational policy. Awareness training can help to prevent or reduce the occurrence of human errors, such as inadvertently removing a file from the premises, that may result in data loss or breach. The other options are not the most likely controls that failed, as they are either not directly related to the scenario or not sufficient to prevent the incident. Background checks are used to verify the identity, qualifications, and trustworthiness of potential or current employees, but they do not ensure that employees will always follow the policy or avoidmistakes. User access is used to restrict the access to information systems or resources based on the identity, role, or credentials of the user, but it does not prevent the user from copying or removing the data once they have access. Policy management is used to create, communicate, and enforce the organizational policy, but it does not ensure that employees will understand orcomply with the policy. References = Sensitive Data Essentials – The Lifecycle Of A Sensitive File; Personal data breach examples | ICO; How do I prevent staff accidentally sending personal information … - GCIT; 10 Ways to Protect Sensitive Employee Information; My personal data has been lost after a breach, what are my rights …

A risk register is a document that records and tracks the information about the risks that may affect the organization’s objectives, such as the risk description, category, source, cause, impact, probability, status, owner, response, etc.

When updating the risk register after a risk assessment, the most important information to include is the likelihood and impact of the risk scenario. This means that the risk registershouldreflect the current or updated estimates of the probability and consequence of the risk scenario, based on the risk analysis and evaluation methods and criteria.

The likelihood and impact of the risk scenario helps to determine the risk level and priority, select the most appropriate risk response, allocate the resources and budget for risk management, and monitor and report the risk performance and outcomes.

The other options are not the most important information to include when updating the risk register after a risk assessment. They are either secondary or not essential for risk management.

The references for this answer are:

Risk IT Framework, page 29

Information Technology & Security, page 23

Risk Scenarios Starter Pack, page 21