New Release CRISC Isaca Certification Questions

The best way is toassess the loss impactif information is compromised. This aligns with ISACA’s risk management approach, which prioritizes the potential impact on business objectives and regulatory compliance when valuing information assets.

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Accepting risk is the only risk response strategy that could be applied to both positive and negative risk that has been identified. Accepting risk means taking no action to change the likelihood or impact of the risk, but being prepared to deal with the consequences if the risk occurs. Accepting risk is usually chosen when the risk is low, unavoidable, or outweighed by the benefits. For positive risks, accepting risk means taking advantage of the opportunities if they arise. For negative risks, accepting risk means setting aside contingency reserves or plans to copewith the threats. The other risk response strategies are specific to either positive or negative risks. Transfer, exploit, and mitigate are strategies for negative risks, while share, enhance, and avoid are strategies for positive risks. References = Risk and Information Systems Control Study Manual, Chapter 4, Section 4.3.1, page 4-23.

 Key control indicators (KCIs) are metrics that measure how well a specific control is performing in reducing the causes, consequences, or likelihood of a risk1. KCIs are used to evaluate the control operating effectiveness, which is the degree to which a control achieves its intended objectives and mitigates the risk2.

The primary reason to use KCIs to evaluate control operating effectiveness is to monitor the achievement of set objectives. This means that KCIs help to:

Track and report the progress and performance of the control against the predefined targets, standards, or benchmarks

Identify and address any gaps, deviations, or issues in the control operation or outcome

Provide feedback and assurance to the stakeholders and regulators on the adequacy and reliability of the control

Support the continuous improvement and optimization of the control3

References = Key Control Indicator (KCI) - CIO Wiki, Evaluating and Improving Internal Control in Organizations - IFAC, A Methodical Approach to Key Control Indicators

According to the LDR514: Security Strategic Planning, Policy, and Leadership Course, after mapping generic risk scenarios to organizational security policies, the next course of action should be to validate the risk scenarios for business applicability. This is because generic risk scenarios are not specific to the organization’s context, objectives, and environment, and they may not capture the unique threats, vulnerabilities, and impacts that the organization faces. Therefore, validating the risk scenarios for business applicability will help to ensure that the risk scenarios are relevant, realistic, and consistent with the organization’s security policies. Validating the risk scenarios will also help to identify any gaps, overlaps, or conflicts between the risk scenarios and the security policies, and to resolve themaccordingly. References = LDR514: Security Strategic Planning, Policy, and Leadership Course, Risk Assessment and Analysis Methods: Qualitative and Quantitative