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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 166

Improvements in the design and implementation of a control will MOST likely result in an update to:

Correct Answer: B
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Question 167

To which level the risk should be reduced to accomplish the objective of risk management?

Correct Answer: C
Section: Volume C
Explanation:
The main objective of risk management is to reduce risk to a level that the organization or company will accept, as the risk can never be completely eliminated.
Incorrect Answers:
A, B: There are no such concepts existing in manipulating risk level.
D: Risk mitigation involves identification, planning, and conduct of actions for reducing risk. Because the elimination of all risk is usually impractical or close to impossible, it is aimed at reducing risk to an acceptable level with minimal adverse impact on the organization's resources and mission.
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Question 168

You are the project manager of the GHY Project for your company. You need to complete a project management process that will be on the lookout for new risks, changing risks, and risks that are now outdated. Which project management process is responsible for these actions?

Correct Answer: B
Explanation/Reference:
Explanation:
The risk monitoring and controlling is responsible for identifying new risks, determining the status of risks that may have changed, and determining which risks may be outdated in the project.
Incorrect Answers:
A: Risk planning creates the risk management plan and determines how risks will be identified, analyzed, monitored and controlled, and responded to.
C: Risk identification is a process that identifies risk events in the project.
D: Risk analysis helps determine the severity of the risk events, the risks' priority, and the probability and impact of risks.
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Question 169

The acceptance of control costs that exceed risk exposure is MOST likely an example of:

Correct Answer: B
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Question 170

Assessing the probability and consequences of identified risks to the project objectives, assigning a risk score to each risk, and creating a list of prioritized risks describes which of the following processes?

Correct Answer: A
Section: Volume C
Explanation:
The purpose of qualitative risk analysis is to determine what impact the identified risk events will have on the project and the probability they'll occur. It also puts risks in priority order according to their effects on the project objectives and assigns a risk score for the project.
Incorrect Answers:
B: Risk Management is used to identify, assess, and control risks. It includes analyzing the value of assets to the business, identifying threats to those assets, and evaluating how vulnerable each asset is to those threats.
Assessing the probability and consequences of identified risks is only the part of risk management.
C: It involves listing of all the possible risks so as to cure them before it can occur. In risk identification both threats and opportunities are considered, as both carry some level of risk with them.
D: This process does not involve assessing the probability and consequences of identified risks. Quantitative analysis is the use of numerical and statistical techniques rather than the analysis of verbal material for analyzing risks. Some of the quantitative methods of risk analysis are:
* Internal loss method
* External data analysis
* Business process modeling (BPM) and simulation
* Statistical process control (SPC)
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