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NEW QUESTION 404
When reviewing a risk response strategy, senior management's PRIMARY focus should be placed on the:
- A. alignment with risk appetite.
- B. cost-benefit analysis.
- C. key performance indicators (KPIs).
- D. investment portfolio.
Answer: A
NEW QUESTION 405
When developing a business continuity plan (BCP), it is MOST important to:
- A. identify an alternative location to host operations
- B. identify a geographically dispersed disaster recovery site
- C. develop a multi-channel communication plan
- D. prioritize critical services to be restored
Answer: B
Explanation:
Section: Volume D
Explanation/Reference: https://www.isaca.org/Groups/Professional-English/it-audit-tools-and-techniques/GroupDocuments/ bus_continuity_plan.pdf
NEW QUESTION 406
Which of the following is the BEST course of action when risk is found to be above the acceptable risk appetite?
- A. Review risk tolerance levels
- B. Analyze the effectiveness of controls.
- C. Maintain the current controls.
- D. Execute the risk response plan
Answer: D
NEW QUESTION 407
Which of these documents is MOST important to request from a cloud service provider during a vendor risk assessment?
- A. Independent audit report
- B. Service level agreement (SLA)
- C. Nondisclosure agreement (NDA)
- D. Business impact analysis (BIA)
Answer: A
NEW QUESTION 408
Which of the following is the BEST way to manage the risk associated with malicious activities performed by database administrators (DBAs)?
- A. Two-factor authentication
- B. Periodic access review
- C. Activity logging and monitoring
- D. Awareness training and background checks
Answer: C
Explanation:
Section: Volume D
NEW QUESTION 409
Which of the following is the MOST effective method for indicating that the risk level is approaching a high or unacceptable level of risk?
- A. Risk indicator
- B. Cause and effect diagram
- C. Return on investment
- D. Risk register
Answer: A
Explanation:
Section: Volume A
Explanation:
Risk indicators are metrics used to indicate risk thresholds, i.e., it gives indication when a risk level is approaching a high or unacceptable level of risk. The main objective of a risk indicator is to ensure tracking and reporting mechanisms that alert staff about the potential risks.
Incorrect Answers:
A: A risk register is an inventory of risks and exposure associated with those risks. Risks are commonly found in project management practices, and provide information to identify, analyze, and manage risks. Typically a risk register contains:
* A description of the risk
* The impact should this event actually occur
* The probability of its occurrence
* Risk Score (the multiplication of Probability and Impact)
* A summary of the planned response should the event occur
* A summary of the mitigation (the actions taken in advance to reduce the probability and/or impact of the event)
* Ranking of risks by Risk Score so as to highlight the highest priority risks to all involved.
D: Return On Investment (ROI) is a performance measure used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments. To calculate ROI, the benefit (return) of an investment is divided by the cost of the investment; the result is expressed as a percentage or a ratio.
The return on investment formula:
ROI= (Gain from investment - Cost of investment) / Cost of investment
In the above formula "gains from investment", refers to the proceeds obtained from selling the investment of interest.
NEW QUESTION 410
Which of the following would be of GREATEST concern to a risk practitioner reviewing current key risk indicators (KRIs)?
- A. The KRIs are not automated.
- B. The KRIs' source data lacks integrity.
- C. The KRIs are not quantitative.
- D. The KRIs do not allow for trend analysis.
Answer: B
NEW QUESTION 411
Courtney is the project manager for her organization. She is working with the project team to complete the qualitative risk analysis for her project. During the analysis Courtney encourages the project team to begin the grouping of identified risks by common causes. What is the primary advantage to group risks by common causes during qualitative risk analysis?
- A. It can lead to the creation of risk categories unique to each project.
- B. It helps the project team realize the areas of the project most laden with risks.
- C. It saves time by collecting the related resources, such as project team members, to analyze the risk events.
- D. It assist in developing effective risk responses.
Answer: D
Explanation:
Explanation/Reference:
Explanation:
By grouping the risks by categories the project team can develop effective risk responses. Related risk events often have common causal factors that can be addressed with a single risk response.
NEW QUESTION 412
A project team member has just identified a new project risk. The risk event is determined to have significant impact but a low probability in the project. Should the risk event happen it'll cause the project to be delayed by three weeks, which will cause new risk in the project. What should the project manager do with the risk event?
- A. Add the identified risk to the issues log.
- B. Explanation:
All identified risks, their characteristics, responses, and their status should be added and monitored as part of the risk register. A risk register is an inventory of risks and exposure associated with those risks. Risks are commonly found in project management practices, and provide information to identify, analyze, and manage risks. Typically a risk register contains: A description of the risk The impact should this event actually occur The probability of its occurrence Risk Score (the multiplication of Probability and Impact) A summary of the planned response should the event occur A summary of the mitigation (the actions taken in advance to reduce the probability and/or impact of the event) Ranking of risks by Risk Score so as to highlight the highest priority risks to all involved. - C. Add the identified risk to the risk register.
- D. Add the identified risk to a quality control management chart.
- E. Add the identified risk to the low-level risk watch-list.
Answer: C
Explanation:
is incorrect. Risks that have a low probability and a low impact may go on the low-level risk watch-list. Answer:B is incorrect. This is a risk event and should be recorded in the risk register. Answer:A is incorrect. Control management charts are not the place where risk events are recorded.
NEW QUESTION 413
A control owner has completed a year-long project To strengthen existing controls. It is MOST important for the risk practitioner to:
- A. conduct and document a business impact analysis (BIA).
- B. verify cost-benefit of the new controls being implemented.
- C. ensure risk monitoring for the project is initiated.
- D. update the risk register to reflect the correct level of residual risk.
Answer: D
NEW QUESTION 414
Which of the following is MOST likely to be impacted as a result of a new policy which allows staff members to remotely connect to the organization's IT systems via personal or public computers?
- A. Risk appetite
- B. Risk tolerance
- C. Key risk indicator (KRI)
- D. Inherent risk
Answer: A
NEW QUESTION 415
In an organization with a mature risk management program, which of the following would provide the BEST evidence that the IT risk profile is up to date?
- A. Risk questionnaire
- B. Compliance manual
- C. Risk register
- D. Management assertion
Answer: C
Explanation:
Section: Volume D
NEW QUESTION 416
You are the project manager for BlueWell Inc. You have noticed that the risk level in your project increases above the risk tolerance level of your enterprise. You have applied several risk responses. Now you have to update the risk register in accordance to risk response process. All of the following are included in the risk register except for which item?
- A. Network diagram analysis of critical path activities
- B. Risk triggers
- C. Agreed-upon response strategies
- D. Risk owners and their responsibility
Answer: A
Explanation:
Explanation/Reference:
Explanation:
The risk register does not examine the network diagram and the critical path. There may be risks associated with the activities on the network diagram, but it does not address the network diagram directly.
The risk register is updated at the end of the plan risk response process with the information that was discovered during the process. The response plans are recorded in the risk register. In the risk register, risk is stated in order of priority, i.e., those with the highest potential for threat or opportunity first. Some risks might not require response plans at all, but then too they should be put on a watch list and monitored throughout the project. Following elements should appear in the risk register:
List of identified risks, including their descriptions, root causes, and how the risks impact the project
objectives
Risk owners and their responsibility
Outputs from the Perform Qualitative Analysis process
Agreed-upon response strategies
Risk triggers
Cost and schedule activities needed to implement risk responses
Contingency plans
Fallback plans, which are risk response plans that are executed when the initial risk response plan
proves to be ineffective
Contingency reserves
Residual risk, which is a leftover risk that remains after the risk response strategy has been
implemented
Secondary risks, which are risks that come about as a result of implementing a risk response
NEW QUESTION 417
Which of the following statements are true for enterprise's risk management capability maturity level 3 ?
- A. Risk management is viewed as a business issue, and both the drawbacks and benefits of risk are recognized
- B. Explanation:
An enterprise's risk management capability maturity level is 3 when:
Risk management is viewed as a business issue, and both the drawbacks and benefits of risk are
recognized.
There is a selected leader for risk management, engaged with the enterprise risk committee,
across the enterprise.
The business knows how IT fits in the enterprise risk universe and the risk portfolio view.
Local tolerances drive the enterprise risk tolerance.
Risk management activities are being aligned across the enterprise.
Formal risk categories are identified and described in clear terms.
Situations and scenarios are included in risk awareness training beyond specific policy and
structures and promote a common language for communicating risk.
Defined requirements exist for a centralized inventory of risk issues.
Workflow tools are used to accelerate risk issues and track decisions. - C. Workflow tools are used to accelerate risk issues and track decisions
- D. The enterprise formally requires continuous improvement of risk management skills, based on clearly defined personal and enterprise goals
- E. The business knows how IT fits in the enterprise risk universe and the risk portfolio view
Answer: A,B,C,E
Explanation:
is incorrect. Enterprise having risk management capability maturity level 5 requires
continuous improvement of risk management skills, based on clearly defined personal and
enterprise goals.
NEW QUESTION 418
An organization practices the principle of least privilege. To ensure access remains appropriate, application owners should be required to review user access rights on a regular basis by obtaining:
- A. documentation indicating the intended users of the application
- B. an access control matrix and approval from the user's manager
- C. business purpose documentation and software license counts
- D. security logs to determine the cause of invalid login attempts
Answer: B
NEW QUESTION 419
A risk practitioners PRIMARY focus when validating a risk response action plan should be that risk response:
- A. aligns with business strategy
- B. quantifies risk impact
- C. advances business objectives.
- D. reduces risk to an acceptable level
Answer: D
NEW QUESTION 420
You are the project manager of the HGT project in Bluewell Inc. The project has an asset valued at
$125,000 and is subjected to an exposure factor of 25 percent. What will be the Single Loss Expectancy of this project?
- A. $ 31,250
- B. $ 3,125,000
- C. $ 125,025
- D. $ 5,000
Answer: A
Explanation:
Explanation/Reference:
Explanation:
The Single Loss Expectancy (SLE) of this project will be $31,250.
Single Loss Expectancy is a term related to Quantitative Risk Assessment. It can be defined as the monetary value expected from the occurrence of a risk on an asset. It is mathematically expressed as follows:
Single Loss Expectancy (SLE) = Asset Value (AV) * Exposure Factor (EF)
where the Exposure Factor represents the impact of the risk over the asset, or percentage of asset lost. As an example, if the Asset Value is reduced two third, the exposure factor value is .66. If the asset is completely lost, the Exposure Factor is 1.0. The result is a monetary value in the same unit as the Single Loss Expectancy is expressed.
Therefore,
SLE = Asset Value * Exposure Factor
= 125,000 * 0.25
= $31,250
Incorrect Answers:
A, C, D: These are not SLEs of this project.
NEW QUESTION 421
An IT department has organized training sessions to improve user awareness of organizational information security policies. Which of the following is the BEST key performance indicator (KPI) to reflect effectiveness of the training?
- A. Percentage of staff members who attend the training with positive feedback
- B. Percentage of attendees versus total staff
- C. Percentage of staff members who complete the training with a passing score
- D. Number of training sessions completes
Answer: B
NEW QUESTION 422
Which of the following BEST indicates effective information security incident management?
- A. Frequency of information security incident response plan testing
- B. Percentage of high risk security incidents
- C. Average time to identify critical information security incidents
- D. Monthly trend of information security-related incidents
Answer: C
NEW QUESTION 423
Which of the following is the PRIMARY reason to use key control indicators (KCIs) to evaluate control operating effectiveness?
- A. To identify control vulnerabilities
- B. To measure business exposure to risk
- C. To raise awareness of operational issues
- D. To monitor the achievement of set objectives
Answer: D
Explanation:
Section: Volume D
Explanation
NEW QUESTION 424
To implement the MOST effective monitoring of key risk indicators (KRIs), which of the following needs to be in place?
- A. Controls monitoring
- B. Escalation procedures
- C. Automated data feed
- D. Threshold definition
Answer: A
Explanation:
Section: Volume D
NEW QUESTION 425
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