Which of the following is a PRIMARY benefit of engaging the risk owner during the risk assessment process?

• A.Accurate measurement of loss impact
• B.Early detection of emerging threats
• C.Identification of controls gaps that may lead to noncompliance
• D.Prioritization of risk action plans across departments

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Which of the following characteristics of risk controls can be defined as under?
"The separation of controls in the production environment rather than the separation in the design and implementation of the risk"

• A.Trusted source
• B.Secure
• C.Distinct
• D.Independent

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What is the FIRST phase of IS monitoring and maintenance process?

• A.Report result
• B.Prioritizing risks
• C.Implement monitoring
• D.Identifying controls
• E.Explanation:
  Following are the phases that are involved in Information system monitoring and maintenance:
  Following are the phases that are involved in Information system monitoring and maintenance:
  Prioritize risk: The first phase involves the prioritization of risk which in turn involves following task:
  Analyze and prioritize risks to organizational objectives.
  Identify the necessary application components and flow of information through the system.
  Examine and understand the functionality of the application by reviewing the application system
  documentation and interviewing appropriate personnel.
  Identify controls: After prioritizing risk now the controls are identified, and this involves following
  tasks:
  Key controls are identified across the internal control system that addresses the prioritized risk.
  Applications control strength is identified.
  Impact of the control weaknesses is being evaluated.
  Testing strategy is developed by analyzing the accumulated information.
  Identify information: Now the IS control information should be identified:
  Identify information that will persuasively indicate the operating effectiveness of the internal control
  system.
  Observe and test user performing procedures .
  Implement monitoring: Develop and implement cost-effective procedures to evaluate the
  persuasive information.
  Report results: After implementing monitoring process the results are being reported to relevant
  stakeholders.

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You are the project manager for BlueWell Inc. Your current project is a high priority and high profile project within your organization. You want to identify the project stakeholders that will have the most power in relation to their interest on your project. This will help you plan for project risks, stakeholder management, and ongoing communication with the key stakeholders in your project. In this process of stakeholder analysis, what type of a grid or model should you create based on these conditions?

• A.Stakeholder power/interest grid
• B.Stakeholder register
• C.Influence/impact grid
• D.Salience model

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Which of the following is MOST important when developing risk scenarios?

• A.Conducting vulnerability assessments
• B.Reviewing business impact analysis (BIA)
• C.Collaborating with IT audit
• D.Obtaining input from key stakeholders

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