ECCouncil Updated 712-50 Exam Questions and Answers by wiktoria

 Purpose of Risk Assessment:

Identifies risks to assets based on current vulnerabilities and threat landscapes.

Provides a basis for prioritizing mitigation efforts.

 Why This is Correct:

Risk assessment focuses on evaluating risks, which is foundational for informed decision-making.

 Why Other Options Are Incorrect:

A. Inventory of assets: Prerequisite to risk assessment, not the main purpose.

B. Classifying assets: Supports risk management but is not the primary goal of assessment.

C. Assigning value: Helps prioritize but is not the ultimate purpose.

 References:EC-Council defines risk assessment as a critical process for calculating and understanding risks in the current environment.

 Accountability for Information System Integrity:The Chief Information Security Officer (CISO) is responsible for the overall security of information systems, including their integrity. This accountability extends to implementing and overseeing policies, controls, and processes to safeguard systems.

 Why Not Other Options:

Compliance Officer (B): Focuses on regulatory adherence but does not oversee system integrity directly.

Project Manager (C): Handles project execution but does not have overarching accountability for security.

Board of Directors (D): Provides strategic oversight but does not manage specific system integrity.

 EC-Council CISO Framework:The CISO’s role is explicitly defined as ensuring the confidentiality, integrity, and availability (CIA triad) of systems, which includes accountability for their integrity.

 Explanation:

SSAE16/ISAE3402 reports should be reviewed annually to evaluate vendor compliance with agreed-upon controls and identify any risks or gaps in their processes.

Annual reviews align with standard auditing practices and vendor contract expectations.

 Why Other Options Are Incorrect:

A. Quarterly: This frequency is unnecessary unless specific risks require closer monitoring.

B. Semi-annually: Twice a year reviews may be overkill for standard vendor operations.

C. Bi-annually: The term "bi-annually" could mean either twice a year or every two years, leading to ambiguity and potential non-compliance.

 EC-Council CISO Reference:Vendor management processes, including the annual review of attestation reports, are a key component of the CISO role.

 SSAE 16 Report Overview:SSAE 16 (Statement on Standards for Attestation Engagements) reports are used to assess a vendor's control environment and its alignment with security and compliance requirements.

 Annual Review as Best Practice:

Most vendors update their SSAE 16 reports annually, which reflects a complete cycle of operational and security practices.

Reviewing the report annually ensures that the organization evaluates updated controls and addresses any identified risks.

 Why Not Other Options:

Quarterly (A) or semi-annual (B) reviews are excessive unless dictated by a high-risk environment.

Bi-annual (D) review intervals may result in oversight of critical updates.

 EC-Council Guidance:Annual review aligns with standard compliance practices and maintains oversight of vendor security controls.