Isaca Updated CRISC Exam Questions and Answers by mario

The best way to ensure adequate resources will be allocated to manage identified risk is to assign risk ownership to appropriate roles. Risk ownership is the process of assigning the authority and responsibility to manage a specific risk or a group of related risks to a person or entity. Risk ownership helps to ensure adequate resources for managing risk, because it helps to define and clarify the roles and responsibilities of the risk owners, and to establish and enforce the expectations and standards for the risk owners. Risk ownership also helps to measure and evaluate the effectiveness and efficiency of the risk owners, and to identify and address any issues or gaps in the risk management activities. The other options are not as effective as assigning risk ownership to appropriate roles, although they may be related to the risk management process. Prioritizing risk within each business unit, reviewing risk ranking methodology, and promoting an organizational culture of risk awareness are all activities that can help to support or improve the risk management process, but they do not necessarily ensure adequate resources for managing risk. References = Risk and Information Systems Control Study Manual, Chapter 2, Section 2.2.1, page 2-11.

 The most concerning issue for a risk practitioner reviewing an organization risk register is that several risk action plans have missed target completion dates. This indicates that the risk responses are not being implemented effectively or timely, and that the risk exposure may not be reduced as expected. Senior management accepting more risk than usual, risk associated with many assets being expressed in qualitative terms, and many risk scenarios being owned by the same senior manager are not as concerning as the missed deadlines, as they may reflect the risk appetite, tolerance, and culture of the organization. References = ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, question 10; CRISC Review Manual, 6th Edition, page 140.

The best way to increase the chances of a successful delivery of a new application and to assure the business management that IT has a plan in place for early identification of potential issues is to include business management on a weekly risk and issues report. A risk and issues report is a document that summarizes the current status, progress, and challenges of the IT project, as well as the actions and resources needed to address them. A risk and issues report helps to communicate and align the expectations and objectives of the IT and business stakeholders, and to facilitate timely and effective decision-making and problem-solving. A risk and issues report also helps to monitor and control the project scope, schedule, budget, and quality, and to ensure that the project delivers the desired value and benefits to the organization. The other options are not as effective as including business management on a weekly risk and issues report, although they may be part of the IT project management process or outcomes. Implementing a release and deployment plan, conducting comprehensive regression testing, and developing enterprise-wide key risk indicators (KRIs) are all activities that can help to ensure the quality and reliability of the new application, but they do not necessarily involve the business management or provide assurance for the early identification of potential issues. References = Risk and Information Systems Control Study Manual, Chapter 5, Section 5.4.1, page 5-32.

 A risk portfolio is a collection of risks that an organization faces or may face in the future. Analyzing trends in key control indicators (KCIs) best enables a risk practitioner to proactively identify impacts on an organization’s risk portfolio, as KCIs measure and monitor the performance and effectiveness of the risk controls that are implemented to mitigate the risks. By analyzing the trends in KCIs, a risk practitioner can assess the current and potential risk exposure of the organization, and identify any changes or emerging risks that may affect the risk portfolio. Analyzing trends in KCIs can also help to evaluate the cost and benefit of the risk controls, and to determine the need for enhancing, modifying, or implementing new controls. References = CRISC: Certified in Risk & Information Systems Control Sample Questions, Question 246. Most Asked CRISC Exam Questions and Answers, Question 10. ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, Question 246. CRISC by Isaca Actual Free Exam Q&As, Question 9.