Isaca Certification CRISC Passing Score

Perform a Risk Assessment:

Immediate Action: The first step when discovering a non-compliant implementation is to understand the potential risks it poses to the organization. This involves identifying threats, vulnerabilities, and potential impacts of the non-fungible token (NFT) asset program.

Risk Identification and Evaluation: Assess the new program’s impact on the organization’s risk profile. Determine if it introduces significant security, compliance, or operational risks.

Documentation and Reporting: Document the findings and present them to senior management along with recommendations for mitigation or further action.

Comparison with Other Options:

Report the Infraction: Reporting is necessary but should follow the risk assessment to provide a clear understanding of the implications and necessary mitigations.

Conduct Risk Awareness Training: Training is preventive and should be part of a long-term strategy, not the immediate response to a specific incident.

Discontinue the Process: Discontinuing the process may be a necessary step after assessing the risk, but the assessment must come first to justify such an action.

Best Practices:

Comprehensive Risk Assessment: Ensure that the risk assessment covers all aspects, including financial, reputational, and regulatory risks.

Stakeholder Involvement: Involve relevant stakeholders in the assessment process to gather diverse perspectives and ensure a thorough evaluation.

Actionable Recommendations: Provide clear, actionable recommendations based on the risk assessment findings.

CRISC Review Manual: Discusses the importance of performing risk assessments when new systems or processes are implemented without following established procedures.

ISACA Standards: Emphasize the need for a systematic approach to identifying and assessing risks introduced by new initiatives or changes within the organization.

References:

 Understanding the Question:

The question asks which tool is best for aggregating data from multiple systems to identify abnormal behavior.

 Analyzing the Options:

A. Cyber threat intelligence: Provides information on potential threats but does not aggregate data from multiple systems for behavior analysis.

B. Anti-malware software: Focuses on detecting and removing malware, not aggregating data from multiple sources.

C. Endpoint detection and response (EDR): Monitors endpoints for suspicious activity but is more limited in scope compared to SIEM systems.

D. SIEM systems: Security Information and Event Management systems collect, aggregate, and analyze data from various sources to identify and respond to abnormal behavior.

 Detailed Explanation:

SIEM Systems: SIEM systems are designed to aggregate and analyze security data from multiple sources such as network devices, servers, and applications. They provide real-time analysis of security alerts generated by hardware and software.

Functionality: SIEM systems use advanced analytics to correlate data from different sources and detect patterns that indicate abnormal behavior. This makes them highly effective in identifying and responding to security incidents.

References:

CRISC Review Manual, Chapter 3: Risk Response and Reporting, mentions the importance of centralized monitoring systems like SIEM for effective risk management​​.

Scheduling periodic audits is the best way to facilitate the maintenance of data classification requirements, because it helps to verify and validate that the data are classified and handled according to the established policies, standards, and guidelines, and that the data classification requirements are updated and aligned with the changes in the data environment or regulations. Data classification is a process of categorizing data according to their sensitivity, confidentiality, and value to the organization, and specifying the appropriate handling and protection measures for each category. Data classification requirements are the rules or criteria that define how data should be classified and treated. Scheduling periodic audits is the best way to ensure that the data classification requirements are followed and maintained, and that any issues or gaps are identified and addressed. Assigning a data custodian, implementing technical controls over the assets, and establishing a data loss prevention (DLP) solution are all useful ways to facilitate the maintenance of data classification requirements, but they are not the best way, as they do not provide a comprehensive and independent review and assessment of the data classification process and outcomes. References = Risk and Information Systems Control Study Manual, Chapter 4, Section 4.3.2, page 158

Preparing a risk response that is aligned to the organization’s risk tolerance is the next step after completing a risk assessment and reporting the validated vulnerability findings that require mitigation to the application owner, because it helps to define and implement the appropriate actions to reduce or eliminate the risk, or to prepare for and recover from the potential consequences. A risk response is a strategy or tactic for managing the identified risks, such as avoiding, transferring, mitigating, or accepting the risk. A risk response should be aligned to the organization’s risk tolerance, which is the acceptable level of variation from the organization’s objectives or expectations. A vulnerability is a weakness or flaw in an IT system or application that can be exploited by a threat or attack to cause harm or damage. A vulnerability finding is a result of a vulnerability assessment, which is a process of identifying and evaluating the vulnerabilities in an IT system or application. A vulnerability finding requires mitigation, which is a type of risk response that involves applying controls or countermeasures to reduce the likelihood or impact of the risk. Therefore, preparing a risk response that is aligned to the organization’s risk tolerance is the next step, as it helps to address the vulnerability findings and to achieve the desired level of risk. Reporting the findings to executive management, reassessing each vulnerability, and conducting a penetration test are all possible steps to perform after preparing a risk response, but they are not the next step, as they depend on the results and approval of the risk response. References = Risk and Information Systems Control Study Manual, Chapter 3, Section 3.4.2, page 103