Changed CRISC Exam Questions

Low-probability, high-impact events are those that have a low chance of occurring but would cause significant harm if they do. These events are often difficult to predict and quantify, but they can have a major impact on the organization’s objectives, reputation, or operations. By including these events in a risk assessment, the organization can develop understandable and realistic risk scenarios that reflect the potential consequences of different outcomes1. This can help the organization to prioritize its risk management activities and allocate its resources accordingly.

References = Risk and Information Systems Control Study Manual, Chapter 5: Risk Assessment Process

The primary focus of an IT risk awareness program is to cultivate long-term behavioral change. An IT risk awareness program is a program that educates and informs the stakeholders, such as the employees, managers, customers, or partners, about the IT risks and the IT risk management activities. An IT risk awareness program helps to increase the knowledge and understanding of the IT risks and the IT risk management objectives, strategies, and processes, and to promote the participation and collaboration of the stakeholders in the IT risk management activities. Theprimary focus of an IT risk awareness program is to cultivate long-term behavioral change, which is the change in the attitudes, beliefs, values, and actions of the stakeholders regarding the IT risks and the IT risk management activities. Cultivating long-term behavioral change helps to create and sustain a risk-aware culture, which is a culture that recognizes,respects, and supports the IT risk management activities, and that encourages the stakeholders to take responsibility and ownership of the IT risks and the IT risk management activities. Cultivating long-term behavioral change also helps to improve the effectiveness and efficiency of the IT risk management activities, and to align the IT risk management activities with the business goals and values. Ensuring compliance with the organization’s internal policies, communicating IT risk policy to the participants, and demonstrating regulatory compliance are not the primary focus of an IT risk awareness program, as they are either the benefits or the objectives of the IT risk awareness program, and they do not address the primary need of changing the behavior of the stakeholders. References = CRISC Review Manual, 6th Edition, ISACA, 2015, page 36.

Information systems control deficiencies are the weaknesses or flaws in the design or implementation of the controls that are intended to ensure the confidentiality, integrity, availability, and reliability of the information systems and resources. Information systems control deficiencies may reduce the effectiveness or efficiency of the controls, and expose the organization to various risks, such as unauthorized access, data loss, system failure, etc.

Reviewing results from control self-assessment (CSA) is the best way to identify information systems control deficiencies, because CSA is a process of evaluating and verifying the adequacy and effectiveness of the information systems controls, using the input and feedback from the individuals or groups that are involved or responsible for the information systems activities or functions. CSA can help the organization to identify and document the information systems control deficiencies, and to align them with the organization’s information systems objectives and requirements.

CSA can be performed using various techniques, such as questionnaires, surveys, interviews, workshops, etc. CSA can also be integrated with the organization’s governance, risk management, and compliance functions, and aligned with the organization’s policies and standards.

The other options are not the best ways to identify information systems control deficiencies, because they do not provide the same level of detail and insight that CSA provides, and they may not be relevant or actionable for the organization.

Vulnerability and threat analysis is a process of identifying and evaluating the weaknesses or flaws in the organization’s assets, processes, or systems that can be exploited or compromised by the potential threats or sources of harm that may affect the organization’s objectives or operations. Vulnerability and threat analysis can help the organization to assess and prioritize the risks, and to design and implement appropriate controls or countermeasures to mitigate or prevent the risks, but it is not the best way to identify information systems control deficiencies, because it does not indicate whether the existing information systems controls are adequate and effective, and whether they comply with the organization’s policies and standards.

Control remediation planning is a process of selecting and implementing the actions or plans to address or correct the information systems control deficiencies that have been identified,analyzed, and evaluated. Control remediation planning involves choosing one ofthe following types of control responses: mitigate, transfer, avoid, or accept. Control remediation planning can help the organization to improve and optimize the information systems controls, and to reduce or eliminate the information systems control deficiencies, but it is not the best way to identify information systems control deficiencies, because it is a subsequent or follow-up process that depends on the prior identification of the information systems control deficiencies.

User acceptance testing (UAT) is a process of verifying and validating the functionality and usability of the information systems and resources, using the input and feedback from the endusers or customers that interact with the information systems and resources. UAT can help the organization to ensure that the information systems and resources meet the user or customer expectations and requirements, and to identify and resolve any issues or defects that may affect the user or customer satisfaction, but it is not the best way to identify information systems control deficiencies, because it does not focus on the information systems controls, and it may not cover all the relevant or significant information systems control deficiencies that may exist or arise. References =

ISACA, CRISC Review Manual, 7th Edition, 2022, pp. 40-41, 47-48, 54-55, 58-59, 62-63

ISACA, CRISC Review Questions, Answers & Explanations Database, 2022, QID 186

CRISC Practice Quiz and Exam Prep

Comprehensive and Detailed Explanation From Exact Extract:

Senior management’s primary consideration in selecting risk response strategies is alignment with the organization’s risk appetite, ensuring that responses are consistent with the levels of risk the organization is willing to accept. While BIA results, KRIs, and investment portfolios inform decisions, risk appetite provides the guiding framework for prioritization and decision-making