Isaca CRISC - Certified in Risk and Information Systems Control

A vulnerability report for the IT infrastructure is a document that identifies and evaluates the weaknesses or gaps in the IT systems, networks, or devices that could be exploited by threats or cause incidents. By analyzing the latest vulnerability report, one can conclude the existence and extent of control weaknesses in the IT infrastructure, because control weaknesses are the deficiencies or failures of the controls that are supposed to prevent, detect, or correct the vulnerabilities. The other options are not the correct answers, because they are not directly concluded by analyzing the latest vulnerability report. The likelihood of a threat, the impact of technology risk, and the impact of operational risk are examples of risk factors or consequencesthat depend on the vulnerability and the threat, but they are not determined by the vulnerability report alone. References = CRISC: Certified in Risk & Information Systems Control Sample Questions

The recovery time objective (RTO) is the planned recovery time for a process or system which should occur before reaching the business process’s maximum tolerable downtime (MTD) or maximum allowable outage (MAO). The RTO must be aligned with the MAO to ensure that the continuity of the business process is not compromised by a prolonged outage. The RTO is determined by the business impact analysis (BIA) based on the criticality and urgency of the business process and its dependencies. The RTO also helps to select and implement appropriate recovery methods and procedures for the process or system. References = Risk and Information Systems Control Study Manual, Chapter 6: IT Risk Monitoring and Reporting, Section 6.2: ITRisk Reporting, Page 307; What is the difference between RPO, RTO, and MTD? - Tandem Blog.

The best way to help an enterprise define and communicate its risk appetite is to use a risk register, which is a document that records and summarizes the key information and data about the identified risks and the risk responses1. A risk register can help to:

Define the risk appetite, which is the amount and type of risk that the enterprise is willing to accept or pursue in order to achieve its objectives2. The risk register can include the risk appetite statement, which is a clear and concise expression of the enterprise’s risk preferences and boundaries3.

Communicate the risk appetite, which is the process of sharing and informing the risk appetite to the relevant stakeholders, such as the board, the management, the employees, or the customers4. The risk register can be used as a communication tool, which can provide a consistent and transparent view of the enterprise’s risk profile and performance5.

The other options are not the best ways to help an enterprise define and communicate its risk appetite, because:

Gap analysis is a technique that compares the current state and the desired state of a process, system, or organization, and identifies the gaps or differences between them6. Gap analysis can help to assess the alignment or misalignment of the enterprise’s risk appetite with its risk level, but it does not help to define or communicate the risk appetite itself.

Risk assessment is a process that estimates the probability and impact of the risks, and prioritizes the risks based on their significance and urgency. Risk assessment can help to identify andanalyze the risks that may affect the enterprise’s objectives, but it does not help to define or communicate the risk appetite itself.

Heat map is a graphical representation that uses colors to indicate the level or intensity of a variable, such as risk. Heat map can help to visualize and compare the risks based on their probability and impact, but it does not help to define or communicate the risk appetite itself.

References =

Risk Register - CIO Wiki

Risk Appetite - CIO Wiki

Risk Appetite Statement - CIO Wiki

Risk Communication - CIO Wiki

Risk Reporting - CIO Wiki

Gap Analysis - CIO Wiki

[Risk Assessment - CIO Wiki]

[Heat Map - CIO Wiki]

[Risk and Information Systems Control documents and learning resources by ISACA]

When moving critical assets to the cloud, the most important KPI to include in the SLA is the percentage of standard supplier uptime, which measures the availability and reliability of the cloud service provider. This KPI indicates how often the cloud service is operational and accessible, and how well it meets the agreed service level objectives. A high percentage of standard supplier uptime means that the cloud service provider can deliver the expected performance and functionality of the critical assets, and minimize the risk of service disruptions, downtime, or data loss. The percentage of standard supplier uptime should be aligned with the organization’s business continuity and disaster recovery requirements, and should be monitored and reported regularly by the cloud service provider. The SLA should also specify the compensation or remediation actions in case of any breach of the agreed percentage of standard supplier uptime.

Risk tolerance refers to the acceptable level of variation in outcomes related to specific risks that an organization is willing to withstand. It defines the boundaries within which the organization can operate safely and is often set by senior leadership to guide decision-making processes. In the context of integrating a new acquisition, allowing for variation in the level of risk-taking directly pertains to the organization's risk tolerance.

 The primary purpose of vulnerability assessments is to detect weaknesses that could lead to system compromise. A vulnerability assessment is a systematic review of security weaknesses in an information system. It evaluates if the system is susceptible to any known vulnerabilities, assigns severity levels to those vulnerabilities, and recommends remediation or mitigation, if and whenever needed1. By identifying and prioritizing the vulnerabilities, a vulnerability assessment helps to prevent or reduce the risk of cyberattacks that could exploit the vulnerabilities and compromise the system. The other options are not the primary purpose, but they may be secondary or tertiary outcomes or benefits of a vulnerability assessment. Providing clear evidence that the system is sufficiently secure is a result of a successful vulnerability assessment and remediation process, but it is not the main objective. Determining the impact of potential threats is a part of the risk assessment process, which complements the vulnerability assessment process, but it is not the same as detecting the vulnerabilities. Testing intrusion detection systems (IDS) and response procedures is a part of the penetration testing process, which simulates a real-world attack on the system to evaluate its security posture, but it is not the same as scanning the system for vulnerabilities. References = What is Vulnerability Assessment | VA Tools and Best Practices - Imperva

 The main purpose of selecting a risk response is to mitigate the residual risk to be within tolerance. Residual risk is the risk that remains after applying a risk response. Risk tolerance is the amount and type of risk that an organization is willing to accept in order to achieve its objectives. Risk response is the process of selecting and implementing actions to address risk. The goal of risk response is to reduce the residual risk to a level that is acceptable to the organization and its stakeholders. The other options are not the main purpose of selecting a risk response, although they may be secondary benefits or outcomes. References = Risk and Information Systems Control Study Manual, Chapter 4, Section 4.3.1, page 4-23.

According to the CRISC Review Manual (Digital Version), threat analysis would be the most helpful when estimating the likelihood of negative events, as it involves identifying and evaluating the sources and causes of potential harm or loss to the IT assets and processes. Threat analysis helps to:

Determine the frequency and probability of occurrence of different types of threats, such as natural disasters, human errors, malicious attacks, system failures, etc.

Assess the impact and severity of the threats on the confidentiality, integrity and availability of the IT assets and processes

Prioritize the threats based on their likelihood and impact

Develop appropriate risk response strategies to prevent, mitigate, transfer or accept the threats

References = CRISC Review Manual (Digital Version), Chapter 1: IT Risk Identification, Section 1.5: IT Risk Identification Methods and Techniques, pp. 35-361

 The most important consideration when communicating the risk associated with technology end-of-life to business owners is the cost and benefit of the risk response options. Technology end-of-life is the situation when a technology product or service is no longer supported by the vendor or manufacturer, and may pose security, compatibility, or performance issues. The risk practitioner should communicate the cost and benefit of the possible risk responses, such as replacing, upgrading, or maintaining the technology, to the business owners, and help them to make informed and rational decisions. Security and availability, maintainability and reliability, and performance and productivity are other possible considerations, but they are not as important as the cost and benefit. References = ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, question 8; CRISC Review Manual, 6th Edition, page 97.

Using a VPN ensures the secure transmission of sensitive data over a public network by encrypting the communication channel. This mitigates risks such as interception or unauthorized access, aligning withData Protection and Privacy Standards.

The primary consideration when establishing an organization’s risk management methodology is the business context, which includes the internal and external factors that influence the organization’s objectives, strategies, scope, and boundaries. The business context helps to define the risk criteria, the risk appetite, the risk identification, the risk analysis, and the risk treatment. The other options are not the primary consideration, but rather the outcomes or inputs of the risk management methodology. References = ISO 31000 Risk Management – Principles andGuidelines; ISO 31000 Principles of Risk Management; The risk management process: What is the best structure and administration?

Free-form fields in public forums increase the risk of accidental or intentional disclosure of sensitive or proprietary information. This creates legal and reputational exposure. Monitoring or disabling such features is essential to mitigating data leakage risks.

 The FIRST thing that should be done when a KRI has remained below its established trigger point for an extended period of time is to recommend a re-evaluation of the current threshold of the KRI, because it may indicate that the trigger point is set too high or too low, or that the KRI is not relevant or effective in measuring the risk exposure. A re-evaluation of the current threshold of the KRI may result in adjusting the trigger point, changing the KRI, or removing the KRI. The other options are not the first thing that should be done, because:

Option B: Notifying management that KRIs are being effectively managed is not the first thing that should be done, because it may not reflect the true risk status and performance. A KRI that remains below its trigger point for a long time may not be a valid or reliable indicator of the risk exposure, and it may not capture the changes or trends in the risk environment.

Option C: Updating the risk rating associated with the KRI in the risk register is not the first thing that should be done, because it may not be accurate or consistent. A risk rating is based on the likelihood and impact of the risk, and it should be derived from a comprehensive risk analysis, not just from a single KRI. A KRI that remains below its trigger point for a long time may not reflect the actual likelihood and impact of the risk, and it may not be aligned with the other risk indicators and assessments.

Option D: Updating the risk tolerance and risk appetite to better align to the KRI is not the first thing that should be done, because it may not be appropriate or feasible. Risk tolerance and risk appetite are the acceptable level of risk exposure and variation that the enterprise is willing to accept in pursuit of its objectives, and they are determined by the executive management and the board of directors, based on the enterprise’s strategy and goals. A KRI that remains below its trigger point for a long time may not represent the desired or optimal level of risk exposure and variation, and it may not be aligned with the enterprise’s strategy and goals. References = Risk and Information Systems Control Study Manual, 7th Edition, ISACA, 2020, p. 121.

The first step to reduce the likelihood of infection from the attack is to identify systems that are vulnerable to being exploited by the attack. This would help the organization to assess the scope and severity of the risk, and to prioritize the systems that need immediate protection. Identifying systems that are vulnerable to being exploited by the attack would also help the organization to apply the appropriate patches, updates, or configurations to prevent or mitigate the attack, and to isolate or disconnect the systems that are already infected or compromised. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 2, Section 2.1.2, page 60123

 Involving business management in evaluating and managing risk is beneficial, as it enables management to have a comprehensive and holistic view of the risk environment and its impact on the organization’s objectives and strategy. By participating in the risk management process, management can make better-informed business decisions, as they can consider the risk factors and implications of their choices, and align their decisions with the organization’s risk appetite and tolerance. Involving business management in evaluating and managing risk can also enhance the risk culture and governance of the organization, and foster a proactive and collaborative approach to risk management. References = Most Asked CRISC Exam Questions and Answers. CRISC: Certified in Risk & Information Systems Control Sample Questions, Question 253. ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, Question 253. CRISC by Isaca Actual Free Exam Q&As, Question 9.

A compliance-based CSA focuses on ensuring that the business unit follows the policies and procedures established by the enterprise, regardless of the actual risk level or impact of the controls.

A risk-based CSA focuses on identifying and evaluating the risks that may affect the business unit’s objectives, and designing and implementing controls that are appropriate to mitigate those risks.

A compliance-based CSA may not capture all the high-risk issues that exist in a business unit, especially if they are not aligned with the enterprise’s standards or expectations.

A risk-based CSA may identify more high-risk issues than a compliance-based CSA, because it considers both internal and external factors that may affect the business unit’s performance or security.

Therefore, a difference in results between a previous control self-assessment (CSA) and an audit indicates that either one of them was not risk-based, but rather compliance-based.

The references for this answer are:

Risk IT Framework, page 9

Information Technology & Security, page 3

Risk Scenarios Starter Pack, page 1

In the event of a data breach or misuse of confidential information, the first step is to activate the incident response plan. This ensures immediate containment, impact analysis, and communication protocols are followed.

The BEST information when determining whether to accept residual risk of a critical system to be implemented is the potential business impacts are within acceptable levels, because it indicates that the residual risk, which is the risk that remains after the risk response actions, does not exceed the risk tolerance and appetite of the organization, and that it does not pose a significant threat or disruption to the business objectives and processes. The potential business impacts are the consequences or outcomes of the residual risk on the organization’s performance, reputation, and value. The other options are not as informative as the potential business impacts, because:

Option A: Single loss expectancy (SLE) is a measure of the monetary loss that is expected from a single occurrence of a risk event, but it does not provide the best information when determining whether to accept residual risk, because it does not consider the frequency or probability of the risk event, or the qualitative aspects of the risk impact, such as customer satisfaction, employee morale, or regulatory compliance.

Option B: Cost of the information system is a measure of the total expenditure that is required to acquire, develop, operate, and maintain the information system, but it does not provide the best information when determining whether to accept residual risk, because it does not reflect the value or benefit of the information system, or the risk exposure or variation that the information system may introduce or encounter.

Option C: Availability of additional compensating controls is a measure of the alternative or supplementary controls that can be implemented to reduce the residual risk, but it does not provide the best information when determining whether to accept residual risk, because it does not indicate the effectiveness or efficiency of the compensating controls, or the cost-benefitanalysis of implementing them. References = Risk and Information Systems Control Study Manual, 7th Edition, ISACA, 2020, p. 122.

The primary goal of risk mitigation is to reduce residual risk to an acceptable level. This aligns with the principles ofRisk Treatment, ensuring that the implemented strategies effectively address identified risks without exceeding the organization's risk appetite.

 According to the How Important Is Source Code Escrow - ISACA article, the purpose of requiring source code escrow in a contractual agreement is to ensure that the source code isavailable if the vendor ceases to exist. Source code escrow is the deposit of the source code of software with a third-party escrow agent, who releases it to the licensee only if certain conditions are met, such as the bankruptcy, merger, or acquisition of the licensor. This arrangement protects the licensee from losing access to the software support and maintenance, and allows them to continue using and modifying the software as needed. Therefore, the answer is B. ensure that the source code is available if the vendor ceases to exist. References = How Important Is Source Code Escrow - ISACA

The level of risk in the IT risk profile is the aggregate measure of the likelihood and impact of IT-related risks that may affect the enterprise’s objectives and operations.

The risk appetite is the amount and type of risk that the enterprise is willing to accept in pursuit of its goals. It is usually expressed as a range or a threshold, and it is aligned with the enterprise’s strategy and culture.

If the level of risk in the IT risk profile has decreased and is now below management’s risk appetite, it means that the enterprise has more capacity and opportunity to take on additional risks that may offer higher rewards or benefits.

The best recommendation in this situation is to optimize the control environment, which is the set of policies, procedures, standards, and practices that provide the foundation for managing IT risks and controls. Optimizing the control environment means enhancing the efficiency and effectiveness of the controls, reducing the costs and complexity of compliance, and aligning the controls with the enterprise’s objectives and values.

Optimizing the control environment can help the enterprise to achieve the optimal balance between risk and return, and to leverage its risk management capabilities to create and protect value.

The other options are not the best recommendations, because they do not address the opportunity to improve the enterprise’s performance and resilience.

Realigning risk appetite to the current risk level may result in missing out on potential gains or advantages that could be obtained by taking more risks within the acceptable range.

Decreasing the number of related risk scenarios may reduce the scope and depth of risk analysis and reporting, and impair the enterprise’s ability to identify and respond to emerging or changing risks.

Reducing the risk management budget may compromise the quality and reliability of the risk management process and activities, and weaken the enterprise’s risk culture and governance. References =

ISACA, CRISC Review Manual, 7th Edition, 2022, pp. 29-30, 34-35, 38-39, 44-45

ISACA, CRISC Review Questions, Answers & Explanations Database, 2022, QID 145

The most helpful factor for an information security management team when allocating resources to mitigate exposures is the risk assessment results. The risk assessment results provide a comprehensive and objective analysis of the risks facing the enterprise, including their likelihood, impact, and root causes. The risk assessment results also help to identify the gaps and weaknesses in the existing controls, and to prioritize the risks based on their severity and urgency. The risk assessment results enable the information security management team toallocate the resources in a cost-effective and risk-based manner, and to implement the most appropriate risk responses to reduce the exposures to an acceptable level. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 4, Section 4.1.1, page 1751

The person who should be accountable for resolving the situation where a root cause analysis indicates a major service disruption due to a lack of competency of newly hired IT system administrators is the chief information officer (CIO). The CIO is the senior executive who is responsible for the overall management and governance of the IT function within the organization, including the IT strategy, objectives, policies, processes, and resources. The CIO is also accountable for the performance and value of the IT services and systems, and for ensuring that they meet the needs and expectations of the business and its stakeholders. The CIO should be accountable for resolving the situation, because it involves a major IT service disruption that could affect the organization’s operations and reputation, and because it is related to the IT staff competency and capability, which are under the CIO’s authority and responsibility. The other options are not as accountable as the CIO, although they may have some roles or involvement inthe situation. The HR training director, the business process owner, and the HR recruitment manager are not directly responsible for the IT function or the IT service delivery, and they may not have the authority or the expertise to resolve the situation. References = Risk and Information Systems Control Study Manual, Chapter 2, Section 2.1.1, page 2-3.

Automated data indicating that risk has been reduced provides the most tenable evidence that a business process control is effective, because it shows the actual impact and outcome of thecontrol on the risk level. A demonstration that the control is operating as designed, a successful walk-through of the associated risk assessment, and a management attestation that the control is operating effectively are not the most tenable evidence, because they are based on subjective judgments, assumptions, or expectations, not on objective facts or results. References = CRISC: Certified in Risk & Information Systems Control Sample Questions

The primary concern for a risk practitioner in adopting innovative big data analytics is the potential re-identification of individuals from previously anonymized data. Advanced analytics techniques can inadvertently combine datasets in ways that reveal personal identities, leading to privacy breaches and regulatory non-compliance. This risk is heightened when data from multiple sources are aggregated, increasing the chance of re-identification.

Automated scanning tools continuously monitor the network, detecting unauthorized devices quickly and reliably.

The most important information to be communicated during security awareness training is management’s expectations. This will help to establish the security culture and behavior of the enterprise, and to align the staff’s actions with the enterprise’s objectives, policies, and standards. Management’s expectations also provide the basis for measuring and evaluating the effectiveness of the security awareness program. Corporate risk profile, recent security incidents, and the current risk management capability are also important information to be communicated during security awareness training, but they are not as important as management’s expectations. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 5, Section 5.1.1.2, page 2291

1: ISACA Certified in Risk and Information Systems Control (CRISC®) Exam Guide, Answer to Question 642.

 The most likely cause of the situation where the recovery team does not know what steps to take to recover critical data backups following a major flood is the failure to test the disaster recovery plan (DRP). A DRP is a document that describes the procedures and resources needed to restore the normal operations of an organization after a disaster. Testing the DRP is essential to ensure that the plan is feasible, effective, and up-to-date. Testing the DRP also helps to train the recovery team members, identify and resolve any issues or gaps, and improve the confidence and readiness of the organization. The lack of a well-documented business impact analysis (BIA), the lack of annual updates to the DRP, and the significant changes in management personnel are also possible factors that could affect the recovery process, butthey are not as likely or as critical as the failure to test the DRP. References = Risk and Information Systems Control Study Manual, Chapter 5, Section 5.3.1, page 5-19.

The greatest concern for a risk practitioner when reviewing the findings of a security awareness program assessment is that the program uses non-customized training modules. Non-customizedtraining modules are generic and may not address the specific security needs, issues, and challenges of the organization. They may also fail to engage and motivate the employees to follow the security policies and procedures, and to enhance their security knowledge and skills. The program not decreasing threat counts, not considering business impact, or being significantly revised are other possible findings, but they are not as concerning as the program using non-customized training modules. References = ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, question 7; CRISC Review Manual, 6th Edition, page 202.

A critical patch is a software update that fixes a security vulnerability or a bug that may affect the performance, functionality, or reliability of a system or a network. A critical patch implementation is a process that applies the software update to the system or network in a timely and effective manner. The failure of a critical patch implementation is a situation where the software update is not applied or not applied correctly, which may expose the system or networkto various threats, such as data theft, data corruption, data leakage, or denial of service. The failure of a critical patch implementation would be reflected in an organization’s risk profile by increasing the residual risk. Residual risk is the risk that remains after the risk response, which means the risk that is not avoided, transferred, or mitigated by the existing controls or measures. The failure of a critical patch implementation would increase the residual risk, as it would reduce the effectiveness or efficiency of the existing controls or measures that are supposed to address the security vulnerability or the bug. The failure of a critical patch implementation would also increase the likelihood or impact of the potential threats, as well as the exposure or consequences of the system or network. The other options are not the correct changes that would be reflected in an organization’s risk profile after the failure of a critical patch implementation, although they may be affected or related. Risk tolerance is the degree of variation from the risk appetite that the organization is not willing to accept. Risk tolerance may be decreased by the failure of a critical patch implementation, as the organization may become more cautious or conservative in accepting the risk, but it is not a direct or immediate change in the risk profile. Inherent risk is the risk that exists in the absence of any controls or measures, which means the risk that is inherent to the system or network or the environment. Inherent risk may be increased by the failure of a critical patch implementation, as the system or network may become more vulnerable or susceptible to the threats, but it is not a change in the risk profile, as the risk profile considers the existing controls or measures. Risk appetite is the amount and type of risk that the organization is willing to accept in pursuit of its objectives. Risk appetite may be decreasedby the failure of a critical patch implementation, as the organization may become less willing orable to accept the risk, but it is not a change in the risk profile, as the risk profile reflects the actual or current risk level, not the desired or expected risk level. References = CRISC Review Manual, pages 32-331; CRISC Review Questions, Answers & Explanations Manual, page 972; What is a Critical Patch? - Definition from Techopedia3; What is Residual Risk? - Definition from Techopedia4

The best course of action when an audit reveals that there are changes in the environment that are not reflected in the risk profile is to review the risk identification process. This is because the risk identification process is the first step in the risk management process and it is responsible for identifying and assessing the potential risks that may affect the organization’s objectives. If the risk identification process is not effective, it may result in incomplete, inaccurate, or outdated risk profiles that do not reflect the current environment and the associated risks. Therefore, reviewing the risk identification process will help to ensure that the risk profile is updated and aligned with the changes in the environment and the organization’s strategy. References = Responding to Audit Findings

Events exceeding risk thresholds are situations or occurrences that result in the actual level of risk exceeding the acceptable or tolerable level of risk, as defined by the organization’s risk appetite, criteria, and objectives12.

The most effective way to enable a business operations manager to identify events exceeding risk thresholds is to implement continuous monitoring, which is a process that involves collecting and analyzing data and information on the performance and status of the business processes, systems, and controls, and detecting and reporting any deviations, anomalies, or issues that may indicate a risk event34.

Continuous monitoring is the most effective way because it provides timely and accurate visibility and insight into the risk landscape, and enables the business operations manager to identify and respond to the events exceeding risk thresholds before they escalate or cause significant harm or damage to the organization34.

Continuous monitoring is also the most effective way because it supports the risk management process and objectives, which are to identify and address the risks that may affect the achievement of the organization’s goals and the delivery of value to the stakeholders34.

The other options are not the most effective ways, but rather possible tools or techniques that may complement or enhance the continuous monitoring. For example:

A control self-assessment is a technique that involves engaging and empowering the business process owners and operators to evaluate and report on the effectiveness and efficiency of the controls that are designed and implemented to mitigate the risks56. However, this technique is not the most effective way because it is periodic rather than continuous, and it may not capture or communicate the events exceeding risk thresholds in a timely or consistent manner56.

Transaction logging is a tool that involves recording and storing the details and history of the transactions or activities that are performed by the business processes or systems, and providing an audit trail for verification or investigation purposes78. However, this tool is not the most effective way because it is passive rather than active, and it may not detect or report the events exceeding risk thresholds unless they are analyzed or queried78.

Benchmarking against peers is a technique that involves comparing and contrasting the performance and practices of the business processes or systems with those of the similar or leading organizations in the same or related industry, and identifying the gaps or opportunities for improvement . However, this technique is not the most effective way because it is external rather than internal, and it may not reflect or align with the organization’s specific risk appetite, criteria, and objectives . References =

1: Risk IT Framework, ISACA, 2009

2: IT Risk Management Framework, University of Toronto, 2017

3: Continuous Monitoring - ISACA1

4: Continuous Monitoring: A New Approach to Risk Management - ISACA Journal2

5: Risk and control self-assessment - KPMG Global3

6: Control Self Assessments - PwC4

7: Transaction Log - Wikipedia5

8: Transaction Logging - IBM6

Benchmarking - Wikipedia7

Benchmarking: Definition, Types, Process, Advantages & Examples

Classifying IT assets during a risk assessment is a process of assigning values to the IT assets based on their importance, sensitivity, and criticality to the enterprise. The best reason to classify IT assets is todetermine the appropriate level of protection that each IT asset requires, based on its value and the potential impact of its loss or compromise. This helps the enterprise to allocate resources and implement controls that are proportional to the risk exposure of the IT assets, and to optimize the cost and benefit of risk mitigation. References = ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, Question 233. CRISC by Isaca Actual Free Exam Q&As, Question 9. CRISC Sample Questions 2024, Question 233. CRISC: Certified in Risk & Information Systems Control Sample Questions, Question 233.

According to the CRISC EXAM TOPIC 2 LONG Flashcards, the first thing that a risk practitioner should do when an organization decides to use a cloud service is to review the vendor selection process and vetting criteria. This is because the vendor selection process and vetting criteria are essential steps to ensure that the cloud service provider meets the organization’s requirements and expectations, and that the risks associated with the cloud service are identified and managed. By reviewing the vendor selection process and vetting criteria, the risk practitioner can evaluate the quality, reliability, security, and compliance of the cloud service provider, and determine if the cloud service is suitable and beneficial for the organization. The risk practitioner can also identify any gaps or weaknesses in the vendor selection process and vetting criteria, and recommend improvements or alternatives accordingly. References = CRISC EXAM TOPIC 2 LONG Flashcards

Control Self-Assessments (CSAs)provide an efficient way for process owners and staff to assess control effectiveness continuously. ISACA recognizes CSAs as a proactive approach that encourages accountability and early detection of control weaknesses, reducing the need for frequent external testing.

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Zero-day malware is malware that exploits unknown and unprotected vulnerabilities. This novel malware is difficult to detect and defend against, making zero-day attacks a significant threat to enterprise cybersecurity1. The best way to detect zero-day malware on an end user’s workstation is to use file integrity monitoring, which is a technique that monitors and alerts on changes to files and directories that may indicate a malware infection or compromise2. By using fileintegrity monitoring, the end user can detect zero-day malware that may alter or damage the files or directories on their workstation, and take appropriate actions to remove or isolate the malware. File integrity monitoring can also help to prevent the spread of zero-day malware to other systems or networks, and to restore the integrity and availability of the affected files or directories. Antivirus program, database activity monitoring, and firewall log monitoring are not the best ways to detect zero-day malware on an end user’s workstation, as they are not as effective or reliable as file integrity monitoring. Antivirus program is a software that scans and removes known malware from a system or network3. Antivirus program can help to protect the end user’s workstation from common or known malware, but it may not be able to detect zero-day malware that does not have a signature or a pattern that matches the antivirus program’s database. Database activity monitoring is a technique that monitors and audits the activities and transactions on a database, such as queries, updates, or deletions4. Database activity monitoring can help to protect the end user’s database from unauthorized or malicious access or modification, but it may not be able to detect zero-day malware that does not target or affect the database. Firewall log monitoring is a technique that monitors and analyzes the logs generated by a firewall, which is a device or software that filters and controls the incoming and outgoing network traffic based on predefined rules. Firewall log monitoring can help to protect the enduser’s workstation from external or internal network attacks, but it may not be able to detect zero-day malwarethat bypasses or evades the firewall rules or that originates from the workstation itself. References = 1: What is Zero Day Malware? - Check Point Software2: File Integrity Monitoring - an overview | ScienceDirect Topics3: Antivirus Software - an overview | ScienceDirect Topics4: Database Activity Monitoring - an overview | ScienceDirect Topics : [Firewall Log Analysis - an overview | ScienceDirect Topics] : [Risk and Information Systems Control Study Manual, Chapter 5: Information Systems Control Design and Implementation, Section 5.1: Control Design, pp. 233-235.] : [Risk and Information Systems Control Study Manual, Chapter 5: Information Systems Control Design and Implementation, Section 5.2: Control Implementation, pp. 243-245.] : [Risk and Information Systems Control Study Manual, Chapter 5: Information Systems Control Design and Implementation, Section 5.3: Control Monitoring and Maintenance, pp. 251-253.] : [Zero-day attack detection: a systematic literature review | Artificial Intelligence Review] : [Zero-day Attacks Detection and Prevention Methods | Apriorit] 

The best way to prevent future occurrences of active network accounts belonging to former employees is to conduct a comprehensive review of access management processes. This review should include verifying that the access rights of all employees are updated regularly, especially when they change roles or leave the organization. The review should also ensure that there are clear policies and procedures for granting, modifying, and revoking access rights, and that these are followed consistently and documented properly. The review should also identify and address any gaps or weaknesses in the access management processes that could lead to unauthorized orinappropriate access. By conducting a comprehensive review of access management processes, the organization can improve its security posture and reduce the risk of data breaches or misuse of resources. References = IT audit: The ultimate guide [with checklist] | Zapier, IT auditing and controls – planning the IT audit [updated 2021]

The best course of action for a risk practitioner when senior management is deciding whether to share confidential data with the organization’s business partners is to submit a report to senior management containing the possible risk and suggested mitigation plans. A risk practitioner is a professional who is responsible for identifying, assessing, and managing the risks that could affect the organization’s objectives or operations. A risk practitioner should provide senior management with the information and guidance they need to make informed and effective decisions regarding the sharing of confidential data. A risk practitioner should submit a report that outlines the possible risk scenarios, such as data loss, theft, or compromise, and theirlikelihood and impact. A risk practitioner should also suggest mitigation plans, such as encryption, access control, monitoring, or contractual agreements, that could reduce or transfer the risk. The other options are not as effective as submitting a report containing the possible risk and suggested mitigation plans, although they may be part of or derived from the report. Designing controls to encrypt the data to be shared, developing a project plan for classification of the data, and summarizing the data protection and privacy legislation are all activities or outcomes that could be included or referenced in thereport, but they are not the best course of action for a risk practitioner. References = CISA Review Manual, 27th Edition, Chapter 2, Section 2.3.1, page 2-23

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.

A post-implementation review (PIR) is a process to evaluate whether the objectives of the project were met and whether the project delivered the expected benefits and outcomes1. The primary objective of a risk practitioner performing a PIR of an IT risk mitigation project is to verify that the risk level has been lowered as a result of the project implementation2. This can be done by comparing the actual risk level with theexpected risk level, assessing the effectiveness and efficiency of the risk mitigation controls, and identifying any residual or emergingrisks3. Documenting project lessons learned, validating the project completion, and confirming the project budget are important aspects of a PIR, but they are not the primary objective for a risk practitioner, as they do not directly measure the impact of the project on the risk level4. References = Risk and Information Systems Control Study Manual, Chapter 5: Risk Response and Mitigation, Section 5.4: Post-Implementation Review, pp. 239-241.

 The most important information to include when reporting the effectiveness of risk management to senior management is the changes in residual risk levels against acceptable levels, as it indicates how well the risk management process and activities have reduced the risk exposure and impact to the level that is aligned with the risk tolerance and appetite of the organization. The other options are not the most important information, as they are more related to thedrivers,factors, or outcomes of risk management, respectively, rather than the effectiveness or value of risk management. References = CRISC Review Manual, 7th Edition, page 109.

Training employees to recognize and respond to social engineering tactics is the most effective way to mitigate these attacks. It empowers staff to act as the first line of defense, aligning withRisk Awareness and Organizational Trainingpractices.

According to the CRISC Review Manual (Digital Version), establishing an organizational code of conduct is an example of a directive control, which is a type of control that guides or steers the behavior of individuals or processes to achieve desired outcomes. A directive control aims toinfluence or encourage compliance with the organization’s policies, standards, procedures, and guidelines. A directive control can also communicate the organization’s values, ethics, and expectations to its stakeholders. A directive control can take various forms, such as:

Codes of conduct or ethics

Policies or manuals

Training or awareness programs

Job descriptions or roles and responsibilities

Performance appraisals or incentives

Supervision or oversight

References = CRISC Review Manual (Digital Version), Chapter 2: IT Risk Assessment, Section 2.4: IT Risk Scenarios, pp. 105-1061

A key risk indicator (KRI) is a metric that measures the level and trend of a risk that may affect the organization’s objectives, operations, or performance1. A KRI threshold is a predefined value or range that indicates the acceptable or tolerable level of risk for the organization2. Theorganization’s risk appetite is the amount and type of risk that it is willing to take in order to meet its strategic goals3. Therefore, the most likely reason for senior management’s response is that the KRI threshold needs to be revised to better align with the organization’s risk appetite. This means that the current threshold is either too low or too high, resulting in false alarms or missed signals. By adjusting the threshold to reflect the organization’s risk appetite, senior management can ensure that the KRI provides relevant and actionable information for risk management and decision making. The other options are not the most likely reasons for senior management’s response, as they imply that the KRI is faulty, irrelevant, or misunderstood. The underlying data source for the KRI is using inaccurate data and needs to be corrected. This option assumes that the KRI is based on erroneous or unreliable data, which would affect its validity and reliability. However, this is not the most likely reason, as senior management would be expected to verify the data quality and accuracy before using the KRI for risk monitoring and reporting. The KRI is not providing useful information and shouldbe removed from the KRI inventory. This option assumes that the KRI is not aligned with the organization’s objectives, strategies, or risk profile, which would affect its usefulness and value. However, this is not the most likely reason, as senior management would be expected to review and update the KRI inventory periodically to ensure that the KRIs are relevant and meaningful for risk management. Senior management does not understand the KRI and should undergo risk training. This option assumes that senior management lacks the knowledge or skills to interpret and use the KRI for risk management, which would affect their competence and confidence. However, this is not the most likely reason, as senior management would be expected to have sufficient risk awareness and education to understand and apply the KRI for risk management. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 2, Section 2.1.4, Page 53.

According to the ISACA Risk and Information Systems Control study guide and handbook, the most important reason to communicate control effectiveness to senior management is to ensure management understands the current risk status. Control effectiveness is a measure of how well a control reduces the likelihood or impact of a risk event. By communicating control effectiveness, risk managers can provide management with relevant and timely information about the residual risk level, the risk appetite and tolerance, and the potential gaps or weaknesses in the control environment. This can help management make informed decisions about risk response strategies, resource allocation, and risk oversight12

1: ISACA Risk and Information Systems Control Study Guide, 4th Edition, page 33 2: ISACA Risk and Information Systems Control Handbook, 1st Edition, page 25

A business continuity plan (BCP) is a document that describes the procedures and actions that an organization will take to ensure the continuity of its critical functions and operations in the event of a disruption or disaster12.

Testing a business continuity plan is a method of evaluating the effectiveness and readiness of the BCP, and identifying and addressing any gaps or weaknesses in the plan34.

The most cost-effective way to test a business continuity plan is to conduct a tabletop exercise, which is a type of simulation that involves gathering the key stakeholders and participants of the BCP, and discussing and reviewing the roles, responsibilities, and actions that they will take in response to a hypothetical scenario of a disruption or disaster56.

A tabletop exercise is the most cost-effective way because it requires minimal resources and time, and can be conducted in a regular meeting room or online platform56.

A tabletop exercise is also the most cost-effective way because it provides a high-level overview and assessment of the BCP, and can identify and address the major issues or challenges that may arise in the implementation of the plan56.

The other options are not the most cost-effective ways, but rather possible alternatives or supplements that may have different levels of complexity or cost. For example:

Conducting interviews with key stakeholders is a way of testing a business continuity plan that involves asking and answering questions about the BCP, and collecting feedback and suggestions from the people who are involved or affected by the plan78. However, this way is not the most cost-effective because it may not cover all the aspects or scenarios of the BCP, and may not facilitate the interaction or collaboration among the stakeholders78.

Conducting a disaster recovery exercise is a way of testing a business continuity plan that involves activating and executing the BCP in a realistic and controlled environment, and measuring the outcomes and impacts of the plan . However, this way is not the most cost-effective because it requires a lot of resources and time, and may disrupt or interfere with the normal operations of the organization .

Conducting a full functional exercise is a way of testing a business continuity plan that involves simulating and testing the BCP in a live and dynamic environment, and involving the external entities and stakeholders that are part of the plan . However, this way is not the most cost-effective because it requires the most resources and time, and may pose the highest risk or challenge to the organization . References =

1: Business Continuity Plan (BCP) Definition1

2: Business Continuity Planning - Ready.gov2

3: Testing, testing: how to test your business continuity plan4

4: Comprehensive Guide to Business Continuity Testing | Agility5

5: How to Conduct a Tabletop Exercise for Business Continuity3

6: Tabletop Exercises: A Guide to Success6

7: How to Conduct Testing of a Business Continuity Plan7

8: Business Continuity Plan Testing: Interviewing Techniques8

Disaster Recovery Testing: A Step-by-Step Guide

Disaster Recovery Testing Scenarios: A Guide to Success

Functional Exercises: A Guide to Success

Functional Exercise Toolkit

The primary reason for periodic penetration testing of Internet-facing applications is to identify vulnerabilities in the system, because this will help to improve the security and resilience of the applications and the data they process. A penetration test is a simulated cyberattack that aims to exploit the weaknesses and gaps in the security of an application or a system. A penetration test can reveal the vulnerabilities that may not be detected by other methods, such as automated scanning or code review. A penetration test can also measure the impact and severity of the vulnerabilities, as well as the effectiveness of the existing controls and defenses. A penetration test can also provide recommendations and solutions to remediate the vulnerabilities and prevent future attacks. Internet-facing applications are programs and services that are accessible from the internet, such as web applications, APIs, cloud services, or VPN gateways. Internet-facing applications are exposed to a variety of cyber threats, such as denial-of-service attacks, SQL injection attacks, cross-site scripting attacks, or credential stuffing attacks. These threats can compromise the confidentiality, integrity, and availability of the applications and the data they handle. Therefore, periodic penetration testing of Internet-facing applications is essential to identify vulnerabilities in the system and to protect the applications and the data from cyberattacks. References = Web Application Penetration Testing: A Practical Guide - BrightSecurity1, The Basics of Web Application Penetration Testing | Turing2, Periodic Penetration Testing: What is the best pentesting frequency …