Isaca Updated CRISC Exam Questions and Answers by mario

The most effective key risk indicator (KRI) for monitoring risk related to a bring your own device (BYOD) program is the number of incidents originating from BYOD devices, as it directly measures the impact and frequency of the potential threats and vulnerabilities associated with the use of personal devices for accessing company data and systems. A BYOD program can pose various risks to an organization, such as data loss or breach, malware infection, unauthorized access, compliance violation, or device theft or loss12. The number of incidents originating from BYOD devices can help to identify and quantify these risks, and to trigger appropriate risk response actions when the incidents exceed the acceptable thresholds. The other options are not the most effective KRIs, as they do not directly measure the risk level or impact of the BYOD program. The number of users who have signed a BYOD acceptable use policy may indicate the awareness and compliance of the users, but not the actual risk exposure or mitigation. The budget allocated to the BYOD program security controls may indicate the investment and efficiency of the risk management, but not the effectiveness or necessity. The number of devices enrolled in the BYOD program may indicate the scope and scale of the risk, but not the severity or likelihood. References = Key Risk Indicators: A Practical Guide; KRI Framework for Operational Risk Management

The lack of due diligence for the recommended cloud vendor should be of greatest concern to the risk practitioner, because it exposes the organization to potential risks and issues related to the security, reliability, performance, and compliance of the cloud service provider. Due diligence is a process of conducting a thorough investigation and evaluation of a potential vendor or partnerbefore entering into a contractual relationship. Due diligence helps to verify the vendor’s credentials, capabilities, reputation, and track record, and to identify any red flags or gaps that may affect the quality or suitability of the service. Cloud computing is a model of delivering IT services over the internet, where the service provider owns and manages the IT infrastructure, platforms, or applications, and the customer pays only for the resources or functions they use. Cloud computing can offer cost savings, scalability, and flexibility for the business, but it also introduces new risks and challenges, such as data privacy, security breaches, vendor lock-in, service outages, or regulatory compliance. Therefore, performing due diligence for the recommended cloud vendor is essential to ensure that the organization’s expectations and requirements are met, and that the risks and issues are identified and addressed. The business introducing new SaaS solutions without IT approval, the maintenance of IT infrastructure being outsourced to an IaaS provider, and the architecture responsibilities not being clearly defined are all possible concerns for the risk practitioner, but they are not the greatest concern, as they can bemitigated or resolved with appropriate controls, policies, or agreements. References = Risk and Information Systems Control Study Manual, Chapter 5, Section 5.2.1, page 183

Residual risk is the remaining risk after implementing risk responses, such as controls or mitigation strategies. With the deployment of an IAM solution, the organization has addressed certain access-related risks. Updating the risk register to reflect the new residual risk levels ensures accurate tracking and informs future risk management decisions.

Risk capacity refers to the maximum level of risk an organization can absorb or sustain without jeopardizing its viability. It is directly influenced by the organization’s financial resources and largest annualized losses it can bear. Risk appetite and risk tolerance reflect willingness and acceptable variations but are distinct from capacity, which is the hard limit on risk exposure.