Download Certified in Risk and Information Systems Control.CRISC.PassGuide.2018-12-09.235q.tqb

An enterprise may have hundreds of risk indicators such as logs, alarms and reports. The CRISC will usually need to work with senior management and business leaders to determine which risk indicators will be monitored on a regular basis and be recognized as KRIs. Incorrect Answers:C, D: Chief financial officer and human resource only overview common risk view, but are not involved in risk based decisions.

Creating a scenario requires determination of the value of an asset or a business process at risk and the potential threats and vulnerabilities that could cause loss. The risk scenario should be assessed for relevance and realism, and then entered into the risk register if found to be relevant. In practice following steps are involved in risk scenario development:First determine manageable set of scenarios, which include:Frequently occurring scenarios in the industry or product area. Scenarios representing threat sources that are increasing in count or severity level. Scenarios involving legal and regulatory requirements applicable to the business. After determining manageable risk scenarios, perform a validation against the business objectives of the entity. Based on this validation, refine the selected scenarios and then detail them to a level in line with the criticality of the entity. Lower down the number of scenarios to a manageable set. Manageable does not signify a fixed number, but should be in line with the overall importance and criticality of the unit. Risk factors kept in a register so that they can be reevaluated in the next iteration and included for detailed analysis if they have become relevant at that time. Risk factors kept in a register so that they can be reevaluated in the next iteration and included for detailed analysis if they have become relevant at that time. Include an unspecified event in the scenarios, that is, address an incident not covered by other scenarios. Incorrect Answers:A: Cause-and-effect analysis is a predictive or diagnostic analytical tool used to explore the root causes or factors that contribute to positive or negative effects or outcomes. It is used during the process of exposing risk factors.

Pilot testing and reviewing of performance data to verify operation against design are done before relying on control. Incorrect Answers:B: Discovering risk exposure helps in identifying the severity of risk, but it does not play any role in specifying the reliability of control.D: Articulating risk is the first phase in the risk response process to ensure that information on the true state of exposures and opportunities are made available in a timely manner and to the right people for appropriate response. But it does not play any role in identifying whether any specific control is reliable or not.