Selected CRISC Isaca Certification Questions Answers

The criticality of the asset is the most important factor to consider when determining the value of an asset during the risk identification process, because it reflects the importance or significance of the asset to the organization’s objectives or functions, and the potential impact or consequence of losing or compromising the asset. An asset is a resource or capability that has value to the organization, such as data, systems, applications, infrastructure, or people. The value of an asset is a measure of the worth or benefit of the asset to the organization, and the cost or loss of the asset to the organization. The risk identification process is a process of systematically identifying the sources and types of risk that an organization faces, and estimating their likelihood and impact. The criticality of the asset is the most important factor, as it helps to prioritize and focus on the assets that have the highest value and impact, and to determine the appropriate level of protection and investment for the assets. The monetary value of the asset, the vulnerability profile of the asset, and the size of the asset’s user base are all possible factors to consider when determining the value of an asset, but they are not the most important factor, as they do not directly reflect the criticality of the asset to the organization’s objectives or functions. References = Risk and Information Systems Control Study Manual, Chapter 3, Section 3.2.1, page 83

The primary reason for an organization to include an acceptable use banner when users log in is to reduce the likelihood of insider threat, as it informs the users of the policies, rules, and expectations for the use of the organization’s IT resources, and deters them from engaging in unauthorized or malicious activities. The other options are not the primary reasons, as they are more related to the detection, prevention, or mitigation of insider threat, respectively, rather than the reduction of the likelihood of insider threat. References = CRISC Review Manual, 7th Edition, page 155.

 Understanding the Question:

The question asks what the most important update for keeping the risk register current is.

 Analyzing the Options:

A. Modifying organizational structures when lines of business merge: Reflects significant changes in the organization that impact risk profiles.

B. Adding new risk assessment results annually: Important but periodic.

C. Retiring risk scenarios that have been avoided: Necessary but not as impactful as major organizational changes.

D. Changing risk owners due to employee turnover: Important but secondary to major structural changes.

 Detailed Explanation:

Organizational Changes: When lines of business merge, it can significantly alter the risk landscape, introducing new risks and changing the impact and likelihood of existing ones. Updating the risk register to reflect these changes is crucial for accurate risk management.

Impact on Risk Profiles: Mergers and acquisitions can affect every aspect of an organization, from operational processes to regulatory compliance, making it essential to update the risk register accordingly.

References:

CRISC Review Manual, Chapter 3: Risk Response and Reporting, discusses the importance of keeping the risk register updated to reflect organizational changes and ensure effective risk management​​.