Isaca Updated CRISC Exam Questions and Answers by harlow

According to the CRISC Review Manual (Digital Version), monitoring key access control performance indicators is the best way to provide an early warning that network access of terminated employees is not being revoked in accordance with the service level agreement (SLA), as it measures the effectiveness and efficiency of the access control process and its alignment with the SLA objectives and requirements. The SLA is a contract that defines the expectations and responsibilities of the service provider and the service recipient in terms of the quality, availability, and scope of the service. Monitoring key access control performance indicators helps to:

Evaluate the extent to which the access control process has met the SLA targets and standards

Identify and report any deviations, errors, or breaches in the access control process and its compliance with the SLA

Recommend and implement corrective actions or improvement measures to address the issues or findings in the access control process

Communicate and coordinate the monitoring results and recommendations with the relevant stakeholders, such as the service provider, the service recipient, and the senior management

References = CRISC Review Manual (Digital Version), Chapter 4: IT Risk Monitoring and Reporting, Section 4.1: IT Risk Monitoring, pp. 217-2181

The most comprehensive information for developing a risk profile for a system is the risk assessment results. A risk assessment is a process that identifies, analyzes, and evaluates the risks that could affect the system’s objectives or operations. A risk assessment provides comprehensive information for developing a risk profile, because it helps to determine the likelihood and impact of the risks, and to prioritize them based on their severity and relevance. Arisk assessment also helps to select the most appropriate and effective controls to minimize the risks, such as avoiding, reducing, transferring, or accepting the risks. A risk profile is a document that summarizes the key risks that the system faces or accepts, and their likelihood, impact, and priority. A risk profile helps to identify and prioritize the most critical or relevant risks, and to align them with the system’s objectives, strategy, and risk appetite. The other options are not as comprehensive as the risk assessment results, although they may be part of or derived from the risk profile. Results of a business impact analysis (BIA), a mapping of resources to business processes, and key performance indicators (KPIs) are all factors that could affect the system’s performance and improvement, but they do not necessarily identify, analyze, or evaluate the risks that could affect the system. References = Risk and Information Systems Control Study Manual, Chapter 4, Section 4.2.1, page 4-13.

The result of a control working as desired, but having an annual cost of maintenance that exceeds the expected annual loss exposure, is that the control is inefficient, as it implies that the control is not cost-effective or optimal, and may require a review or adjustment. The other options are not the correct results, as they do not reflect the performance or adequacy of the control, but rather the maturity, effectiveness, or optimization of the control, respectively. References = CRISC Review Manual, 7th Edition, page 154.

Annual Loss Expectancy (ALE)quantifies a risk event’sexpected financial impactand is derived fromSingle Loss Expectancy (SLE) × Annualized Rate of Occurrence (ARO).

CRISC guidance states:

“A well-defined risk event includes quantified impact analysis such as annual loss expectancy to facilitate prioritization and comparison.”

Chain-of-custody and KPIs are unrelated to defining risk events.

Hence,Bis correct.

CRISC Reference:Domain 2 – IT Risk Assessment, Topic: Risk Quantification and Impact Analysis.