Free Access ISACA.CRISC.v2022-05-05.q821 Practice Test (Page 140)

Question 691

A part of a project deals with the hardware work. As a project manager, you have decided to hire a company to deal with all hardware work on the project. Which type of risk response is this?

A.Transference

B.Mitigation

C.Avoidance

D.Exploit

E.Explanation:
When you are hiring a third party to own risk, it is known as transference risk response. Risk transfer means that impact of risk is reduced by transferring or otherwise sharing a portion of the risk with an external organization or another internal entity. Transfer of risk can occur in many forms but is most effective when dealing with financial risks. Insurance is one form of risk transfer.

F.is incorrect. The act of spending money to reduce a risk probability and impact is known as mitigation.

G.is incorrect. Exploit is a strategy that may be selected for risks with positive impacts
where the organization wishes to ensure that the opportunity is realized.

Question 692

Which of the following would present the GREATEST challenge when assigning accountability for control ownership?

A.Complex regulatory environment

B.Weak governance structures

C.Unclear reporting relationships

D.Senior management scrutiny

Question 693

An organization is considering the adoption of an aggressive business strategy to achieve desired growth From a risk management perspective what should the risk practitioner do NEXT?

A.Inform the board of potential risk scenarios associated with aggressive business strategies

B.Update risk awareness training to reflect current levels of risk appetite and tolerance

C.Identify new threats resorting from the new business strategy

D.Increase the scale for measuring impact due to threat materialization

Question 694

Shawn is the project manager of the HWT project. In this project Shawn's team reports that they have found a way to complete the project work cheaply than what was originally estimated earlier. The project team presents a new software that will help to automate the project work. While the software and the associated training costs $25,000 it will save the project nearly $65,000 in total costs. Shawn agrees to the software and changes the project management plan accordingly. What type of risk response had been used by him?

A.Avoiding

B.Accepting

C.Exploiting

D.Enhancing

E.Explanation:
A risk event is been exploited so as to identify the opportunities for positive impacts. Exploit response is one of the strategies to negate risks or threats that appear in a project. This strategy may be selected for risks with positive impacts where the organization wishes to ensure that the opportunity is realized. Exploiting a risk event provides opportunities for positive impact on a project. Assigning more talented resources to the project to reduce the time to completion is an example of exploit response.

Question 695

Which of the following is MOST important for a risk practitioner to consider when determining the control requirements for data privacy arising from emerging technologies?

A.Policies and procedures

B.Laws and regulations

C.Standards and frameworks

D.internal audit recommendations

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Question 691

Question 692

Question 693

Question 694

Question 695

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