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  1. Home
  2. ISACA Certification
  3. CRISC Exam
  4. ISACA.CRISC.v2022-04-29.q944 Dumps
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Question 1

What should be considered while developing obscure risk scenarios?
Each correct answer represents a part of the solution. Choose two.

Correct Answer: A,D
Explanation/Reference:
Explanation:
The enterprise must consider risk that has not yet occurred and should develop scenarios around unlikely, obscure or non-historical events.
Such scenarios can be developed by considering two things:
Visibility

Recognition

For the fulfillment of this task enterprise must:
Be in a position that it can observe anything going wrong

Have the capability to recognize an observed event as something wrong
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Question 2

An IT control gap has been identified in a key process. Who would be the MOST appropriate owner of the risk associated with this gap?

Correct Answer: A
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Question 3

After recent updates to the risk register, management has requested that the overall level of residual risk be reduced. Which of the following is the risk practitioner's BEST course of action?

Correct Answer: D
Section: Volume D
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Question 4

Which of the following individuals is responsible for identifying process requirements, approving process design and managing process performance?

Correct Answer: A
Section: Volume B
Explanation:
Business process owners are the individuals responsible for identifying process requirements, approving process design and managing process performance. In general, a business process owner must be at an appropriately high level in the enterprise and have authority to commit resources to process-specific risk management activities.
Incorrect Answers:
B: Risk owner for each risk should be the person who has the most influence over its outcome. Selecting the risk owner thus usually involves considering the source of risk and identifying the person who is best placed to understand and implement what needs to be done.
C: Chief financial officer is the most senior official of the enterprise who is accountable for financial planning, record keeping, investor relations and financial risks.
D: Chief information officer is the most senior official of the enterprise who is accountable for IT advocacy; aligning IT and business strategies; and planning, resourcing and managing the delivery of IT services and information and the deployment of associated human resources.
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Question 5

Which of the following guidelines should be followed for effective risk management?
Each correct answer represents a complete solution. Choose three.

Correct Answer: B,C,D
Explanation/Reference:
Explanation:
The primary function of the enterprise is to meet its objective. Each business activity for fulfilling enterprise's objective carries both risk and opportunity, therefore objective should be considered while managing risk.
Open and fair communication should me there for effective risk management. Open, accurate, timely and transparent information on lT risk is exchanged and serves as the basis for all risk-related decisions.
Cost-benefit analysis should be done for proper weighing the total costs expected against the total benefits expected, which is the major aspect of risk management.
Incorrect Answers:
A: For effective risk management, there should be continuous improvement, not consistent. Because of the dynamic nature of risk, risk management is an iterative, perpetual and ongoing process; that's why, continuous improvement is required.
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