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Exam Certified in Risk and Information Systems Control
Number CRISC
File Name Certified in Risk and Information Systems Control.testkings.CRISC.2020-05-13.1e.512q.vcex
Size 699 Kb
Posted May 13, 2020
Downloads 30
Download Certified in Risk and Information Systems Control.testkings.CRISC.2020-05-13.1e.512q.vcex

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Demo Questions

Question 1

Which of the following is the MOST important reason to maintain key risk indicators (KRIs)?

  • A: In order to avoid risk
  • B: Complex metrics require fine-tuning
  • C: Risk reports need to be timely
  • D: Threats and vulnerabilities change over time

Correct Answer: D

Threats and vulnerabilities change over time and KRI maintenance ensures that KRIs continue to effectively capture these changes. 
The risk environment is highly dynamic as the enterprise's internal and external environments are constantly changing. Therefore, the set of KRIs needs to be changed over time, so that they can capture the changes in threat and vulnerability. 
Incorrect Answers:
A: Risk avoidance is one possible risk response. Risk responses are based on KRI reporting, but is not the reason for maintenance of KRIs.
B: While most key risk indicator (KRI) metrics need to be optimized in respect to their sensitivity, the most important objective of KRI maintenance is to ensure that KRIs continue to effectively capture the changes in threats and vulnerabilities over time. Hence the most important reason is that because of change of threat and vulnerability overtime.
C: Risk reporting timeliness is a business requirement, but is not a reason for KRI maintenance.




Question 2

You are the project manager of a HGT project that has recently finished the final compilation process. The project customer has signed off on the project completion and you have to do few administrative closure activities. In the project, there were several large risks that could have wrecked the project but you and your project team found some new methods to resolve the risks without affecting the project costs or project completion date. What should you do with the risk responses that you have identified during the project's monitoring and controlling process?

  • A: Include the responses in the project management plan.
  • B: Include the risk responses in the risk management plan.
  • C: Include the risk responses in the organization's lessons learned database.
  • D: Nothing. The risk responses are included in the project's risk register already.

Correct Answer: C

The risk responses that do not exist up till then, should be included in the organization's lessons learned database so other project managers can use these responses in their project if relevant. 
Incorrect Answers:
A: The responses are not in the project management plan, but in the risk response plan during the project and they'll be entered into the organization's lessons learned database.
B: The risk responses are included in the risk response plan, but after completing the project, they should be entered into the organization's lessons learned database.
D: If the new responses that were identified is only included in the project's risk register then it may not be shared with project managers working on some other project.




Question 3

You are the risk official in Bluewell Inc. You are supposed to prioritize several risks. A risk has a rating for occurrence, severity, and detection as 4, 5, and 6, respectively. What Risk Priority Number (RPN) you would give to it?

  • A: 120
  • B: 100
  • C: 15
  • D: 30

Correct Answer: A

Steps involving in calculating risk priority number are as follows:
Identify potential failure effects 
Identify potential causes 
Establish links between each identified potential cause 
Identify potential failure modes 
Assess severity, occurrence and detection 
Perform score assessments by using a scale of 1 -10 (low to high rating) to score these assessments. 
Compute the RPN for a particular failure mode as Severity multiplied by occurrence and detection. 
   RPN = Severity * Occurrence * Detection 
Hence, 
   RPN = 4 * 5 * 6 
            = 120 
Incorrect Answers:
B, C, D: These are not RPN for given values of severity, occurrence, and detection.




Question 4

Which of the following role carriers will decide the Key Risk Indicator of the enterprise? 
Each correct answer represents a part of the solution. Choose two.

  • A: Business leaders
  • B: Senior management
  • C: Human resource
  • D: Chief financial officer

Correct Answer: AB

An enterprise may have hundreds of risk indicators such as logs, alarms and reports. The CRISC will usually need to work with senior management and business leaders to determine which risk indicators will be monitored on a regular basis and be recognized as KRIs. 
Incorrect Answers:
C, D: Chief financial officer and human resource only overview common risk view, but are not involved in risk based decisions.




Question 5

What are the requirements for creating risk scenarios? Each correct answer represents a part of the solution. Choose three.

  • A: Determination of cause and effect
  • B: Determination of the value of business process at risk
  • C: Potential threats and vulnerabilities that could cause loss
  • D: Determination of the value of an asset

Correct Answer: BCD

Creating a scenario requires determination of the value of an asset or a business process at risk and the potential threats and vulnerabilities that could cause loss. The risk scenario should be assessed for relevance and realism, and then entered into the risk register if found to be relevant. 
In practice following steps are involved in risk scenario development:
First determine manageable set of scenarios, which include:
Frequently occurring scenarios in the industry or product area. 
Scenarios representing threat sources that are increasing in count or severity level. 
Scenarios involving legal and regulatory requirements applicable to the business. 
After determining manageable risk scenarios, perform a validation against the business objectives of the entity. 
Based on this validation, refine the selected scenarios and then detail them to a level in line with the criticality of the entity. 
Lower down the number of scenarios to a manageable set. Manageable does not signify a fixed number, but should be in line with the overall importance and criticality of the unit. 
Risk factors kept in a register so that they can be reevaluated in the next iteration and included for detailed analysis if they have become relevant at that time. 
Risk factors kept in a register so that they can be reevaluated in the next iteration and included for detailed analysis if they have become relevant at that time. 
Include an unspecified event in the scenarios, that is, address an incident not covered by other scenarios. 
Incorrect Answers:
A: Cause-and-effect analysis is a predictive or diagnostic analytical tool used to explore the root causes or factors that contribute to positive or negative effects or outcomes. It is used during the process of exposing risk factors.




Question 6

You work as the project manager for Bluewell Inc. Your project has several risks that will affect several stakeholder requirements. Which project management plan will define who will be available to share information on the project risks?

  • A: Resource Management Plan
  • B: Risk Management Plan
  • C: Stakeholder management strategy
  • D: Communications Management Plan

Correct Answer: D

The Communications Management Plan defines, in regard to risk management, who will be available to share information on risks and responses throughout the project. 
The Communications Management Plan aims to define the communication necessities for the project and how the information will be circulated. The Communications Management Plan sets the communication structure for the project. This structure provides guidance for communication throughout the project's life and is updated as communication needs change. The Communication Managements Plan identifies and defines the roles of persons concerned with the project. It includes a matrix known as the communication matrix to map the communication requirements of the project. 
Incorrect Answers:
A: The Resource Management Plan does not define risk communications.
B: The Risk Management Plan defines risk identification, analysis, response, and monitoring.
C: The stakeholder management strategy does not address risk communications.




Question 7

Which of the following controls is an example of non-technical controls?

  • A: Access control
  • B: Physical security
  • C: Intrusion detection system
  • D: Encryption

Correct Answer: B

Physical security is an example of non-technical control. It comes under the family of operational controls. 
Incorrect Answers:
A, C, D: Intrusion detection system, access control, and encryption are the safeguards that are incorporated into computer hardware, software or firmware, hence they refer to as technical controls.




Question 8

Which of the following aspect of monitoring tool ensures that the monitoring tool has the ability to keep up with the growth of an enterprise?

  • A: Scalability
  • B: Customizability
  • C: Sustainability
  • D: Impact on performance

Correct Answer: A

Monitoring tools have to be able to keep up with the growth of an enterprise and meet anticipated growth in process, complexity or transaction volumes; this is ensured by the scalability criteria of the monitoring tool. 
Incorrect Answers:
B: For software to be effective, it must be customizable to the specific needs of an enterprise. Hence customizability ensures that end users can adapt the software.
C: It ensures that monitoring software is able to change at the same speed as technology applications and infrastructure to be effective over time.
D: The impact on performance has nothing related to the ability of monitoring tool to keep up with the growth of enterprise.




Question 9

You are the project manager in your enterprise. You have identified risk that is noticeable failure threatening the success of certain goals of your enterprise. In which of the following levels do this identified risk exists?

  • A: Moderate risk
  • B: High risk
  • C: Extremely high risk
  • D: Low risk

Correct Answer: A

Moderate risks are noticeable failure threatening the success of certain goals. 
Incorrect Answers:
B: High risk is the significant failure impacting in certain goals not being met.
C: Extremely high risk are the risks that has large impact on enterprise and are most likely results in failure with severe consequences.
D: Low risks are the risk that results in certain unsuccessful goals.




Question 10

Courtney is the project manager for her organization. She is working with the project team to complete the qualitative risk analysis for her project. During the analysis Courtney encourages the project team to begin the grouping of identified risks by common causes. What is the primary advantage to group risks by common causes during qualitative risk analysis?

  • A: It helps the project team realize the areas of the project most laden with risks.
  • B: It assist in developing effective risk responses.
  • C: It saves time by collecting the related resources, such as project team members, to analyze the risk events.
  • D: It can lead to the creation of risk categories unique to each project.

Correct Answer: B

By grouping the risks by categories the project team can develop effective risk responses. Related risk events often have common causal factors that can be addressed with a single risk response.










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