Isaca Updated CRISC Exam Questions and Answers by jakub

A vulnerability assessment is a process that identifies and quantifies vulnerabilities in a system. It is the most effective process to determine the relevance of threats for risk scenarios as it helps in identifying potential security threats and vulnerabilities, quantifying the seriousness of each, and prioritizing techniques to mitigate attack and protect IT resources1.

References

2Identifying and Estimating Cybersecurity Risk for Enterprise Risk Management

3Threat Modeling Process | OWASP Foundation

1Threat modeling explained: A process for anticipating cyber attacks

4Hazard Identification and Risk Assessment: A Guide - SafetyCulture

5How to Write Strong Risk Scenarios and Statements - ISACA

The most helpful action to ensure the effective implementation of a new cybersecurity program is assigning clear ownership of the program. Here's why:

Clear Ownership:

Assigning clear ownership ensures that there is accountability and responsibility for the implementation and success of the program.

The program owner will coordinate activities, allocate resources, and monitor progress to ensure that objectives are met.

Creating Metrics:

While metrics are important for monitoring and reporting, they do not directly ensure the effective implementation of the program.

Hiring Subject Matter Experts:

Subject matter experts are valuable for providing insights and guidance, but without clear ownership, their efforts may not be effectively coordinated or aligned with program goals.

Establishing a Budget:

A budget is necessary for securing resources, but it must be managed and directed by a responsible owner to ensure the effective use of those resources.

References:

The CRISC Review Manual discusses the importance of assigning roles and responsibilities, including ownership, to ensure the effective implementation of risk management programs (CRISC Review Manual, Chapter 1: Governance, Section 1.2.1 RACI).

The best course of action when a new application is added to the environment after testing of the SSO control has been completed is to initiate a retest of the full control, as it may reveal any new issues or gaps that the new application may introduce to the SSO control, and ensure that the control remains effective and adequate. Retesting the control using the new application as the only sample, reviewing the corresponding change control documentation, and re-evaluating the control during the next assessment are not the best courses of action, as they may not provide sufficient assurance, evidence, or timeliness of the control testing, respectively. References = CRISC Review Manual, 7th Edition, page 154.

 Importance of a Risk Register:

A risk register is a critical tool for documenting, tracking, and managing risks within an organization. It serves as a central repository for all identified risks, detailing their status, impact, likelihood, and the actions taken to mitigate them.

A regularly updated risk register demonstrates an active and ongoing risk management process, reflecting the organization's commitment to identifying and addressing risks promptly.

 Evidence of Robust Risk Management:

The risk register shows the organization's proactive approach to risk management by continuously monitoring and updating risks.

It provides transparency and accountability, allowing stakeholders to see how risks are being managed and mitigated over time.

Regular updates ensure that new risks are identified and existing risks are reassessed, indicating a dynamic and responsive risk management practice.

 Comparing Other Options:

Management-Approved Risk Dashboard: While useful for summarizing risk information, a dashboard does not provide the detailed, ongoing updates and comprehensive tracking found in a risk register.

Current Control Framework: A control framework outlines the controls in place but does not detail specific risks or their management.

Regularly Updated Risk Management Procedures: Procedures are important but do not provide the same level of detailed risk tracking and management as a risk register.

 References:

The CRISC Review Manual emphasizes the importance of a risk register in consolidating and tracking risk data, making it an essential component of robust risk management practices (CRISC Review Manual, Chapter 2: IT Risk Assessment, Section 2.6 Risk Register)​​ .