Isaca Updated CRISC Exam Questions and Answers by zayd

A virus transmitted on a USB thumb drive is a scenario that represents a threat, as it involves a malicious or harmful event that could compromise the confidentiality, integrity, or availability of an information system. A virus is a type of malware that can infect and damage files, programs, or devices by replicating itself and spreading to other systems or networks. A USB thumb drive is a portable storage device that can be used to transfer data between computers or devices. Avirus transmitted on a USB thumb drive can occur when a user inserts an infected USB thumb drive into a computer or device, or when a user downloads or copies an infected file from a USB thumb drive to a computer or device. A virus transmitted on a USB thumb drive can pose a serious risk to the information system, as it can corrupt or delete data, disrupt or degrade performance, steal or leak information, or allow unauthorized access or control.

The other options are not scenarios that represent a threat, but rather vulnerabilities or weaknesses that could increase the likelihood or impact of a threat. Connecting a laptop to a free, open, wireless access point (hotspot) is a vulnerability, as it exposes the laptop to potential eavesdropping, interception, or manipulation by malicious actors on the same network. Visitorsnot signing in as per policy is a vulnerability, as it creates a gap in the physical security and access control of the premises, and could allow unauthorized or malicious visitors to enter or access sensitive areas or assets. Storing corporate data in unencrypted form on a laptop is a vulnerability, as it reduces the protection and security of the data, and could enable unauthorized or malicious access, disclosure, or modification of the data in case of loss, theft, or compromise of the laptop. References = What is a Computer Virus? | McAfee, What is a USB Flash Drive? | Kingston Technology, Threats, Vulnerabilities, and Exploits – oh my!

Inherent risk is the most likely to increase as a result of the new initiative, because it is the risk that exists before any controls or mitigating factors are applied. Inherent risk reflects the natural or raw level of exposure that the organization faces from a given risk source or scenario. Accepting credit card payments from customers via the corporate website introduces new sources and types of risk, such as fraud, theft, data breach, or non-compliance, that increase the inherent risk level of the organization. Risk tolerance, risk appetite, and residual risk are all related to the risk management process, but they are not the most likely to increase as a result of the new initiative, as they depend on the organization’s risk strategy, objectives, and controls. References = Risk and Information Systems Control Study Manual, Chapter 2, Section 2.3.1, page 51

The best time to evaluate current control effectiveness when implementing an IT risk management program is during the risk assessment, as it involves measuring and testing the performance and adequacy of the existing controls, and identifying any control gaps ordeficiencies that may affect the risk level and response. Before defining a framework, when evaluating risk response, and when updating the risk register are not the best times, as they are more related to the design, selection, or reporting of the controls, respectively, rather than theevaluation of the control effectiveness. References = CRISC Review Manual, 7th Edition, page 154.

The most important consideration when sharing risk management updates with executive management is ensuring relevance to organizational goals. This means that the risk information presented should align with the strategic objectives and priorities of the organization, and demonstrate how risk management supports the achievement of those goals. Executive management is responsible for setting the direction and vision of the organization, and therefore needs to understand how risk management contributes to the value creation and protection of the organization. By ensuring relevance to organizational goals, risk management updates can help executive management make informed decisions, allocate resources, and communicate with stakeholders.

Some of the ways to ensure relevance to organizational goals are:

Linking risk management updates to the organization’s mission, vision, values, and strategy

Highlighting the key risks and opportunities that affect the organization’s performance and competitiveness

Providing clear and concise risk reports that focus on the most critical and material risks

Using a common risk language and framework that is understood by executive management

Providing actionable recommendations and solutions to address the identified risks

Aligning risk management updates with the organization’s reporting cycle and governance structure

References =

The Importance of Integrating Risk Management with Strategy

Four steps for managing risk at the CEO level

5 Key Principles of Successful Risk Management