Online Access Free ISACA.CRISC.v2021-10-27.q295 Practice Test (Page 47)

CRISC Exam Question 226

Which of the following should be the PRIMARY focus of a risk owner once a decision is made to mitigate a risk?

A.Determining processes for monitoring the effectiveness of the controls

B.Confirming to management the controls reduce the likelihood of the risk

C.Updating the risk register to include the risk mitigation plan

D.Ensuring that control design reduces risk to an acceptable level

CRISC Exam Question 227

Improvements in the design and implementation of a control will MOST likely result in an update to:

A.risk tolerance

B.risk appetite

C.inherent risk

D.residual risk

CRISC Exam Question 228

Which of the following represents lack of adequate controls?

A.Vulnerability

B.Threat

C.Asset

D.Impact

CRISC Exam Question 229

The implementation of a risk treatment plan will exceed the resources originally allocated for the risk response. Which of the following should be the risk owner's NEXT action?

A.Accept the risk of not implementing.

B.Escalate to senior management.

C.Perform a risk assessment.

D.Update the implementation plan.

CRISC Exam Question 230

Which of the following statements is true for risk analysis?

A.Risk analysis should assume an equal degree of protection for all assets.

B.Risk analysis should give more weight to the likelihood than the size of loss.

C.Risk analysis should limit the scope to a benchmark of similar companies

D.Risk analysis should address the potential size and likelihood of loss.

E.Explanation:
A risk analysis deals with the potential size and likelihood of loss. A risk analysis involves identifying the most probable threats to an organization and analyzing the related vulnerabilities of
the organization to these threats. A risk from an organizational perspective consists of:
Threats to various processes of organization.
Threats to physical and information assets.
Likelihood and frequency of occurrence from threat.
Impact on assets from threat and vulnerability.
Risk analysis allows the auditor to do the following tasks :
Identify threats and vulnerabilities to the enterprise and its information system.
Provide information for evaluation of controls in audit planning.
Aids in determining audit objectives.
Supporting decision based on risks.

F.is incorrect. Since the likelihood determines the size of the loss, hence both elements
must be considered in the calculation.

G.is incorrect. A risk analysis would not normally consider the benchmark of similar
companies as providing relevant information other than for comparison purposes.

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