Isaca Updated CRISC Exam Questions and Answers by elle

The organization’s process owner should own the risk of exposing the payroll data due to a control weakness at the third party, because the process owner is the person who is responsible for the business process that generates, uses, or transfers the payroll data. The process owner should also ensure that the third party complies with the contractual obligations and service level agreements that define the expected performance and security standards of the payroll data processing. The other options are not the correct answers, because they are not the primary owners of the risk, although they may also be involved in the risk management process. The third party’s IT operations manager, the third party’s chief risk officer (CRO), and the organization’s risk practitioner are examples of secondary owners or stakeholders of the risk, who may provide support, guidance, or oversight to the risk owner, but they are not accountable for the risk or the risk response strategy. References = CRISC: Certified in Risk & Information Systems Control Sample Questions

According to the CRISC Review Manual, the organization’s culture is the most critical element to maximize the potential for a successful security implementation, because it influences the behavior, attitude, and perception of the stakeholders towards security. The organization’s culture includes the values, beliefs, norms, and practices that are shared by the members of the organization. A positive and supportive culture can foster the awareness, commitment, and collaboration of the stakeholders in achieving the security objectives and complying with the security policies and standards. The other options are not the most critical elements, as they are less influential or less challenging than the organization’s culture. The organization’s knowledge is the collective understanding and expertise of the organization regardingsecurity, which can be enhanced through training and education. Ease of implementation is the degree of difficulty and complexity of implementing security, which can be reduced by using appropriate methods and tools. Industry-leading security tools are the best-in-class solutions and technologies that can provide effective and efficient security, which can be acquired through market research and evaluation. References = CRISC Review Manual, 7th Edition, Chapter 1, Section 1.3.1, page 32.

According to the ISACA CRISC Review Manual, an enterprise risk management (ERM) process is a holistic approach to identifying, analyzing, responding to, and monitoring all types of risk that affect the achievement of the enterprise’s objectives. The ERM process should consider all types of risk, including strategic, operational, financial, compliance, and reputational risks. Among these, strategic risks are the most important, as they have the potential to affect the enterprise’s mission, vision, and goals. Therefore, risk with strategic impact should be included in the ERM process. References = ISACA CRISC Review Manual, 7th Edition, Chapter 1, Section 1.2.1, page 17.

According to the CRISC Review Manual, the primary purpose of periodically reviewing an organization’s risk profile is to enable risk-based decision making, because it helps to ensure that the risk information is current, relevant, and accurate. The risk profile is a snapshot of the organization’s risk exposure at a given point in time, based on the risk identification, analysis, and evaluation processes. Periodically reviewing the risk profile allows the organization to monitor the changes in the risk environment, the effectiveness of the risk responses, and the impact of the risk events. This enables the organization to make informed decisions about the risk management strategies and priorities. The other options are not the primary purpose of periodically reviewing the risk profile, as they are related to other aspects of the risk management process. Aligning business objectives with risk appetite is the purpose of establishing the risk context, which defines the scope and boundaries of the risk management activities. Designing and implementing risk response action plans is the purpose of the risk response process, which involves selecting and executing the appropriate risk responses. Updating risk responses in the risk register is the outcome of the risk monitoring and reporting process, which involves tracking the risk performance and communicating the risk information to the stakeholders. References = CRISC Review Manual, 7th Edition, Chapter 2, Section 2.2.4, page 86.