Isaca Updated CRISC Exam Questions and Answers by camilla

The organization control environment is most effective when the controls perform as intended. The controls are the mechanisms or measures that are designed and implemented to prevent, detect, or correct the risks that may affect the achievement of the objectives. The controls perform as intended when they provide reasonable assurance that the risks are mitigated or managed to an acceptable level, and that the objectives are met or exceeded. The performance of the controls can be measured and evaluated by using key performance indicators (KPIs) and key risk indicators (KRIs). The other options are not as indicative of the effectiveness of the control environment, as they are related to the review, implementation, or efficiency of the controls, not the performance or assurance of the controls. References = Risk and Information Systems Control Study Manual, Chapter 2: IT Risk Assessment, Section 2.3: IT Control Assessment, page 69.

The result of postponing the assessment and treatment of several risk scenarios is that the risk associated with these new entries has been accepted. Risk acceptance is a risk response strategy that involves acknowledging the existence of a risk and deciding not to take any action to reduce its likelihood or impact. By postponing the assessment and treatment of the risk scenarios, the organization is implicitly accepting the risk and its consequences. Risk mitigation, deferral, and transfer are other possible risk response strategies, but they are not applicable in this case. References = ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, question 9; CRISC Review Manual, 6th Edition, page 137.

The best way to mitigate an identified risk scenario is to execute a risk response plan. A risk response plan is a document that describes the actions and resources that are needed to address the risk scenario. A risk response plan can include one or more of the following strategies: avoid, transfer, mitigate, accept, or exploit. By executing a risk response plan, the organization can reduce the likelihood and/or impact of the risk scenario, or take advantage of the opportunities that the risk scenario may present. The other options are not as effective as executing a risk response plan, as they are related to the awareness, assessment, or monitoring of the risk scenario, not the actual treatment of the risk scenario. References = Risk and Information Systems Control Study Manual, Chapter 3: IT Risk Response, Section 3.2: IT Risk Response Options, page 133.

To ensure that new IT policies address the enterprise’s requirements, it is important to involve the business owners who are the primary stakeholders of the IT services and processes. Business owners can provide valuable input on the business objectives, risks, and expectations that the IT policies should align with and support. By involving business owners in the policy development process, the IT policies will be more relevant, realistic, and acceptable to the business units. References = Risk and Information Systems Control Study Manual, Chapter 1: IT Risk Identification, Section 1.3: IT Risk Scenarios, page 23.