Online Access Free ISACA.CRISC.v2024-04-02.q999 Practice Test (Page 196)

CRISC Exam Question 971

What is the FIRST phase of IS monitoring and maintenance process?

A.Report result

B.Prioritizing risks

C.Implement monitoring

D.Identifying controls

E.Explanation:
Following are the phases that are involved in Information system monitoring and maintenance:
Following are the phases that are involved in Information system monitoring and maintenance:
Prioritize risk: The first phase involves the prioritization of risk which in turn involves following task:
Analyze and prioritize risks to organizational objectives.
Identify the necessary application components and flow of information through the system.
Examine and understand the functionality of the application by reviewing the application system
documentation and interviewing appropriate personnel.
Identify controls: After prioritizing risk now the controls are identified, and this involves following
tasks:
Key controls are identified across the internal control system that addresses the prioritized risk.
Applications control strength is identified.
Impact of the control weaknesses is being evaluated.
Testing strategy is developed by analyzing the accumulated information.
Identify information: Now the IS control information should be identified:
Identify information that will persuasively indicate the operating effectiveness of the internal control
system.
Observe and test user performing procedures .
Implement monitoring: Develop and implement cost-effective procedures to evaluate the
persuasive information.
Report results: After implementing monitoring process the results are being reported to relevant
stakeholders.

CRISC Exam Question 972

You are the project manager of HGT project. You are in the first phase of the risk response process and are doing following tasks :
Communicating risk analysis results Reporting risk management activities and the state of compliance
Interpreting independent risk assessment findings
Identifying business opportunities
Which of the following process are you performing?

A.Articulating risk

B.Mitigating risk

C.Tracking risk

D.Reporting risk

E.Explanation:
Articulating risk is the first phase in the risk response process to ensure that information on the
true state of exposures and opportunities are made available in a timely manner and to the right
people for appropriate response. Following are the tasks that are involved in articulating risk:
Communicate risk analysis results.
Report risk management activities and the state of compliance.
Interpret independent risk assessment findings.
Identify business opportunities.

F.is incorrect. Risk mitigation attempts to reduce the probability of a risk event and its
impacts to an acceptable level. Risk mitigation can utilize various forms of control carefully
integrated together. This comes under risk response process and is latter stage after articulating
risk.

G.is incorrect. This is not related to risk response process. It is a type of risk. Reporting
risks are the risks that are caused due to wrong reporting which leads to bad decision.

CRISC Exam Question 973

You are the project manager of your enterprise. You have identified several risks. Which of the following responses to risk is considered the MOST appropriate?

A.Any of the above

B.Insuring

C.Avoiding

D.Accepting

CRISC Exam Question 974

Which of the following is MOST important when developing key risk indicators (KRIs)?

A.Availability of qualitative data

B.Properly set thresholds

C.Alignment with industry benchmarks

D.Alignment with regulatory requirements

CRISC Exam Question 975

After the review of a risk record, internal audit questioned why the risk was lowered from medium to low.
Which of the following is the BEST course of action in responding to this inquiry?

A.Obtain industry benchmarks related to the specific risk.

B.Notify the business at the next risk briefing.

C.Provide justification for the lower risk rating.

D.Reopen the risk issue and complete a full assessment.

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CRISC Exam Question 971

CRISC Exam Question 972

CRISC Exam Question 973

CRISC Exam Question 974

CRISC Exam Question 975

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