Isaca Updated CISM Exam Questions and Answers by karter

 Risk acceptance is the decision to accept the level of residual risk after applying security controls, and to tolerate the potential impact and consequences of a security incident. Approval of risk acceptance should be provided by business senior management, as they are the owners and accountable parties of the business processes, activities, and assets that are exposed to the risk. Business senior management should also have the authority and responsibility to allocate the resources, personnel, and budget to implement and monitor the risk acceptance decision, and to report and escalate the risk acceptance status to the board of directors or the executive management.

The chief risk officer (CRO) (A) is a senior executive who oversees the organization’s risk management function, and provides guidance, direction, and support for the identification, assessment, treatment, and monitoring of risks across the organization. The CRO may be involved in the risk acceptance process, such as by reviewing, endorsing, or advising the risk acceptance decision, but the CRO is not the ultimate approver of risk acceptance, as the CRO is not the owner or accountable party of the business processes, activities, and assets that are exposed to the risk.

The information security manager © is the manager who leads and coordinates the information security function, and provides guidance, direction, and support for the development, implementation, and maintenance of the information security program and activities. The information security manager may be involved in the risk acceptance process, such as by conducting the risk assessment, recommending the risk treatment options, or documenting the risk acceptance decision, but the information security manager is not the ultimate approver of risk acceptance, as the information security manager is not the owner or accountable party of the business processes, activities, and assets that are exposed to the risk.

The compliance officer (D) is the officer who oversees the organization’s compliance function, and provides guidance, direction, and support for the identification, assessment, implementation, and monitoring of the compliance requirements and obligations across the organization. The compliance officer may be involved in the risk acceptance process, such as by verifying, validating, or advising the risk acceptance decision, but the compliance officer is not the ultimate approver of risk acceptance, as the compliance officer is not the owner or accountable party of the business processes, activities, and assets that are exposed to the risk.

References = CISM Review Manual, 16th Edition, Chapter 2: Information Risk Management, Section: Risk Treatment, Subsection: Risk Acceptance, page 95-961

 Threat intelligence is the most helpful method for protecting an enterprise from advanced persistent threats (APTs), as it provides relevant and actionable information about the sources, methods, and intentions of the adversaries who conduct APTs. Threat intelligence can help to identify and anticipate the APTs that target the enterprise, as well as to enhance the detection, prevention, and response capabilities of the information security program. Threat intelligence can also help to reduce the impact and duration of the APTs, as well as to improve the resilience and recovery of the enterprise. Threat intelligence can be obtained from various sources, such as internal data, external feeds, industry peers, government agencies, or security vendors.

The other options are not as helpful as threat intelligence, as they do not provide a specific and timely way to protect the enterprise from APTs. Updated security policies are important to establish the rules, roles, and responsibilities for information security within the enterprise, as well as to align the information security program with the business objectives, standards, and regulations. However, updated security policies alone are not enough to protect the enterprise from APTs, as they do not address the dynamic and sophisticated nature of the APTs, nor do they provide the technical or operational measures to counter the APTs. Defined security standards are important to specify the minimum requirements and best practices for information security within the enterprise, as well as to ensure the consistency, quality, and compliance of the information security program. However, defined security standards alone are not enough to protect the enterprise from APTs, as they do not account for the customized and targeted nature of the APTs, nor do they provide the situational or contextual awareness to deal with the APTs. Regular antivirus updates are important to keep the antivirus software up to date with the latest signatures and definitions of the known malware, viruses, and other malicious code. However, regular antivirus updates alone are not enough to protect the enterprise from APTs, as they do not detect or prevent the unknown or zero-day malware, viruses, or other malicious code that are often used by the APTs, nor do they provide the behavioral or heuristic analysis to identify the APTs. References =

CISM Review Manual, 16th Edition, ISACA, 2022, pp. 211-212, 215-216, 233-234, 237-238.

CISM Questions, Answers & Explanations Database, ISACA, 2022, QID 1021.

Advanced Persistent Threats and Nation-State Actors 1

Book Review: Advanced Persistent Threats 2

Advanced Persistent Threat (APT) Protection 3

Establishing Advanced Persistent Security to Combat Long-Term Threats 4

What is the difference between Anti - APT (Advanced Persistent Threat) and ATP (Advanced Threat Protection)5

= Following the incident response plan is the most important step for the security manager before classifying the suspected event as a security incident, as it provides the guidance and procedures for the incident management team to follow in order to identify, contain, analyze, and resolve security incidents. The incident response plan should define the roles and responsibilities of the incident management team, the criteria and process for incident classification and prioritization, the communication and escalation protocols, the tools and resources for incident handling, and the post-incident review and improvement activities123. References =

1: CISM Review Manual 15th Edition, page 199-2004

2: CISM Practice Quiz, question 1011

3: Computer Security Incident Handling Guide5, page 2-3

The most important information to communicate with regard to the open items from the risk register to senior management is the potential business impact of these risks. The potential business impact is the estimated consequence or loss that the organization may suffer if the risk materializes or occurs. The potential business impact can be expressed in quantitative or qualitative terms, such as financial, operational, reputational, legal, or strategic impact. Communicating the potential business impact of the open items from the risk register helps senior management to understand the severity and urgency of these risks, and to prioritize the risk response actions and resources accordingly. Communicating the potential business impact also helps senior management to align the risk management objectives and activities with the business objectives and strategies, and to ensure that the risk appetite and tolerance of the organization are respected and maintained.

References = CISM Review Manual, 16th Edition, Chapter 2: Information Risk Management, Section: Risk Assessment, page 831; CISM Review Manual, 16th Edition, Chapter 2: Information Risk Management, Section: Risk Reporting, page 1012.