Isaca Updated CRISC Exam Questions and Answers by morgan

 Role of the System Owner:

The system owner is responsible for the overall operation and management of an application or system. This includes ensuring that technical controls are implemented and functioning as intended.

They have detailed knowledge of the system's architecture, the controls in place, and how those controls are applied within the system.

 Effectiveness of Technical Controls:

Assessing the effectiveness of a technical control requires understanding its implementation, configuration, and operational context.

The system owner is best positioned to provide this information as they manage and oversee the technical environment of the application.

 Comparing Other Roles:

Internal Auditor: While auditors review and evaluate the effectiveness of controls, they do so from an independent standpoint and might not have detailed, day-to-day operational insights.

Process Owner: The process owner focuses on business processes rather than technical controls specific to an application.

Risk Owner: The risk owner is responsible for managing risk but may not have the technical expertise or detailed operational knowledge of the system.

 Supporting Information:

According to the CRISC Review Manual, the system owner is often involved in the assessment and reporting of control effectiveness, especially regarding technical controls (CRISC Review Manual, Chapter 3: Risk Response and Mitigation, Section 3.1.3 Assessing Control Effectiveness) .

The observation from a third-party service provider review that would be of greatest concern to a risk practitioner is that the service level agreements (SLAs) have not been met over the last quarter, as it indicates a significant performance issue or breach that may affect the quality, functionality, or security of the outsourced services, and may require a remediation or escalation action. The other options are not the greatest concerns, as they may not indicate a performance issue or breach, but rather a contractual, personnel, or financial issue, respectively, that may not affect the outsourced services directly or significantly. References = CRISC Review Manual, 7th Edition, page 111.

The second line of defense is responsible for challenging the risk decision making of the first line of defense, which is the business process owners and managers. The second line of defense also provides oversight, guidance, and support to the first line of defense in implementing and maintaining effective risk management practices. The second line of defense includes functions such as risk management, compliance, quality assurance, and internal audit. References = Risk and Information Systems Control Study Manual, Chapter 1: IT Risk Identification, Section 1.2: IT Risk Management Roles and Responsibilities, Page 14.

The percentage of unpatched systems is best classified as a Key Risk Indicator (KRI). KRIs are metrics used by organizations to provide an early signal of increasing risk exposures in various areas of the business. Here’s a detailed explanation:

Understanding KRIs:

Definition: KRIs are specific metrics that provide insights into the risk level of an organization. They help in identifying potential risks that could impact the business negatively if not addressed promptly.

Purpose: KRIs are used to monitor the effectiveness of risk management strategies and to provide an early warning system for emerging risks.

Percentage of Unpatched Systems as a KRI:

Indicator of Vulnerability: The percentage of unpatched systems directly indicates how vulnerable an organization is to cyber threats. Unpatched systems are a common entry point for attackers, making this metric critical for assessing the organization's exposure to cyber risks.

Impact on Security Posture: A high percentage of unpatched systems can significantly increase the likelihood of security incidents, making it a valuable metric for risk management.

Proactive Risk Management: By monitoring this KRI, organizations can take proactive measures to address vulnerabilities before they are exploited.

Comparison with Other Options:

Threat Vector: A threat vector refers to the path or means by which a threat can reach and impact an asset. It is not a metric like the percentage of unpatched systems.

Critical Success Factor (CSF): CSFs are essential elements necessary for an organization to achieve its mission. While important, they are not specific metrics used to measure risk.

Key Performance Indicator (KPI): KPIs measure how effectively an organization is achieving its key business objectives. While related, KPIs focus on performance rather than risk exposure.

CRISC Review Manual: Provides detailed insights into KRIs and their role in risk management.

ISACA Risk IT Framework: Discusses the use of KRIs in monitoring and managing IT risks effectively.

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