Isaca Updated CRISC Exam Questions and Answers by savanna

The risk register is a document that records the identified risks, their analysis, and their responses. It is a useful tool for monitoring and controlling the risks throughout the project lifecycle. However, the risk register is not a static document and it should be updated regularly to reflect the changes in the risk environment and the project status. Therefore, when reviewing the risk register, a risk practitioner should not only look at the risk ratings, but also the assumptions and the rationale behind them. Different business units may have different perspectives, contexts, and data sources for the same risk scenario, which can result in significant variances in inherent risk. Inherent risk is the risk level before considering the existing controls or responses. Therefore, the best course of action is to review the assumptions of both risk scenarios to determine whether the variance is reasonable or not. This can help to identify any errors, inconsistencies, or biases in the risk assessment process, and to ensure that the risk register reflects the current and accurate state of the risks. References = Risk and Information Systems Control Study Manual, Chapter 3, Section 3.2.1, p. 106-107

A maturity model is a framework that describes the stages or levels of development and improvement of a certain domain, such as a process, a function, or an organization. A maturity model is most useful to an organization when it provides a reference for progress, meaning that it helps the organization to assess its current state, identify its strengths and weaknesses, set its goals and objectives, and measure itsperformance and improvement over time. A maturity model can also help the organization to compare itself with best practices and standards, but benchmarking against other organizations is not its primary purpose. A maturity model can also help the organization to manage its risks, but defining a qualitative measure of risk or providing risk metrics is not its main function. References = Risk and Information Systems Control Study Manual, Chapter 3, Section 3.3.2.1, p. 118-119

 Risk monitoring is the process of tracking and evaluating the performance and effectiveness of the risk management process and controls, and identifying any changes or emerging risks that may affect theenterprise’s objectives and strategy. The primary benefit of risk monitoring is that it facilitates risk-aware decision making, as it provides timely and relevant information and feedback to the decision-makers and stakeholders, and enables them to adjust the risk strategy and response actions accordingly. Risk monitoring also helps to ensure that the risk management process is aligned with the enterprise’s risk appetite and tolerance, and supports the achievement of the enterprise’s goals and value creation. References = ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, Question 239. CRISC: Certified in Risk & Information Systems Control Sample Questions, Question 239. CRISC Sample Questions 2024, Question 239.

A cost-benefit analysis is a tool that compares the costs and benefits of different alternatives, such as implementing or not implementing a specific control. A cost-benefit analysis provides the most useful information when determining if a specific control should be implemented, as it can show the potential savings, benefits, and risks of each option, and help the decision-makers choose the best course of action. A cost-benefit analysis can also include qualitative factors, such as security, compliance, performance, and customer satisfaction, that may be affected by the control implementation. References = ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, Question 256. CRISC: Certified in Risk & Information Systems Control Sample Questions, Question 256. Most Asked CRISC Exam Questions and Answers, Question 10. CRISC by Isaca Actual Free Exam Q&As, Question 9.