The best indicator of an effective IT security awareness program is the decreased success rate of internal phishing tests. Phishing is a type of social engineering attack that attempts to trick the users into revealing their personal or confidential information, or clicking on malicious links or attachments, by impersonating a legitimate entity or person. Internal phishing tests are simulated phishing attacks that are conducted by the enterprise to test the awareness and behavior of the employees in response to phishing emails. A decreased success rate of internal phishing tests means that fewer employees fall victim to the phishing attempts, and that they are more aware and vigilant of the phishing threats and techniques. A decreased success rate of internal phishing tests also implies that the IT security awareness program has effectively educated and trained the employees on how to recognize and report phishing emails, and how to protect themselves and the enterprise from phishing attacks. A decreased number of reported security incidents, a number of disciplinary actions issued for security violations, and a number of employees that complete security training are not as good indicators of an effective IT security awareness program as a decreased success rate of internal phishing tests, as they do not directly measure the awareness and behavior of the employees in relation to phishing, and may be influenced by other factors such as reporting mechanisms, enforcement policies, and training availability. References = CRISC Review Manual, 6th Edition, ISACA, 2015, page 220.

* A business continuity plan (BCP) is a document that describes the procedures and actions that an organization will take to ensure the continuity of its critical functions and operations in the event of a disruption or disaster12.
* Testing a business continuity plan is a method of evaluating the effectiveness and readiness of the BCP, and identifying and addressing any gaps or weaknesses in the plan34.
* The most cost-effective way to test a business continuity plan is to conduct a tabletop exercise, which is a type of simulation that involves gathering the key stakeholders and participants of the BCP, and discussing and reviewing the roles, responsibilities, and actions that they will take in response to a hypothetical scenario of a disruption or disaster56.
* A tabletop exercise is the most cost-effective way because it requires minimal resources and time, and can be conducted in a regular meeting room or online platform56.
* A tabletop exercise is also the most cost-effective way because it provides a high-level overview and assessment of the BCP, and can identify and address the major issues or challenges that may arise in the implementation of the plan56.
* The other options are not the most cost-effective ways, but rather possible alternatives or supplements that may have different levels of complexity or cost. For example:
* Conducting interviews with key stakeholders is a way of testing a business continuity plan that involves asking and answering questions about the BCP, and collecting feedback and suggestions from the people who are involved or affected by the plan78. However, this way is not the most cost-effective because it may not cover all the aspects or scenarios of the BCP, and may not facilitate the interaction or collaboration among the stakeholders78.
* Conducting a disaster recovery exercise is a way of testing a business continuity plan that involves activating and executing the BCP in a realistic and controlled environment, and measuring the
* outcomes and impacts of the plan . However, this way is not the most cost-effective because it requires a lot of resources and time, and may disrupt or interfere with the normal operations of the organization .
* Conducting a full functional exercise is a way of testing a business continuity plan that involves simulating and testing the BCP in a live and dynamic environment, and involving the external entities and stakeholders that are part of the plan . However, this way is not the most cost-effective because it requires the most resources and time, and may pose the highest risk or challenge to the organization . References =
* 1: Business Continuity Plan (BCP) Definition1
* 2: Business Continuity Planning - Ready.gov2
* 3: Testing, testing: how to test your business continuity plan4
* 4: Comprehensive Guide to Business Continuity Testing | Agility5
* 5: How to Conduct a Tabletop Exercise for Business Continuity3
* 6: Tabletop Exercises: A Guide to Success6
* 7: How to Conduct Testing of a Business Continuity Plan7
* 8: Business Continuity Plan Testing: Interviewing Techniques8
* : Disaster Recovery Testing: A Step-by-Step Guide
* : Disaster Recovery Testing Scenarios: A Guide to Success
* : Functional Exercises: A Guide to Success
* : Functional Exercise Toolkit

Explanation/Reference:
Explanation:
The cost of the response, which is applied so as to reduce risk within tolerance levels, is one of the most important parameter. By considering the cost of response, it is decided whether or not benefits of applying response is greater than accepting the risk; and according to this analysis it is decided whether the certain response should be applied or not. For example, if risk transfer response is applied by using insurance, then cost would be the cost of insurance.
Incorrect Answers:
B: This parameter is considered after analyzing the cost of response, which will further decide the level of sophistication of risk response. The enterprise's capability to implement the response means that if the risk management process is mature then the risk response is more C: This is one of the parameters that is considered but is not as important as considering cost of response.
The importance of the risk is determined by the combination of likelihood and magnitude levels along with its position on the risk map.
D: Efficiency of response can only be analyzed after applying the response. So it is the latter stage in selection of response.

Key risk indicators (KRIs) are metrics that help organizations monitor and assess potential risks that may impact their operations, financial health, or overall performance1. KRIs should have certain characteristics that make them effective for risk monitoring, such as:
* Ability to measure the right thing (e.g., supports the decisions that need to be made)
* Quantifiable (e.g., damages in dollars of profit loss)
* Capability to be measured precisely and accurately
* Relevant (measuring the right thing associated with decisions)2
Among the four options given, only option C (sensitivity to changes in risk levels) best enables effective risk monitoring. This is because KRIs should be able to capture the changes in risk levels over time and alert organizations to emerging or escalating risks3. A high sensitivity to changes in risk levels indicates that the KRI is responsive and timely, and can help organizations take preventive or corrective actions before the risks become too severe.
References = Key Risk Indicators: A Practical Guide, Key Risk Indicators: Examples & Definitions, Key Risk Indicators - Wikipedia