Free Access ISACA.CRISC.v2022-05-05.q821 Practice Test (Page 146)

Question 721

For which of the following risk management capability maturity levels do the statement given below is true?
"Real-time monitoring of risk events and control exceptions exists, as does automation of policy management"

A.Level 3

B.Level 0

C.Level 5

D.Level 2

Question 722

You are the project manager of your enterprise. You have identified new threats, and then evaluated the ability of existing controls to mitigate risk associated with new threats. You noticed that the existing control is not efficient in mitigating these new risks. What are the various steps you could take in this case?
Each correct answer represents a complete solution. Choose all that apply.

A.Education of staff or business partners

B.Deployment of a threat-specific countermeasure

C.Modify of the technical architecture

D.Apply more controls

E.Explanation:
As new threats are identified and prioritized in terms of impact, the first step is to evaluate the ability of existing controls to mitigate risk associated with new threats and if it does not work then in that case facilitate the: Modification of the technical architecture Deployment of a threat-specific countermeasure Implementation of a compensating mechanism or process until mitigating controls are developed Education of staff or business partners

Question 723

When is the BEST to identify risk associated with major project to determine a mitigation plan?

A.Project planning phase

B.Project closing phase

C.Project initiation phase

D.Project execution phase

Question 724

When does the Identify Risks process take place in a project?

A.At the Planning stage.

B.At the Executing stage.

C.At the Initiating stage.

D.Throughout the project life-cycle.

E.Explanation:
Identify Risks is the process of determining which risks may affect the project. It also documents risks' characteristics. The Identify Risks process is part of the Project Risk Management knowledge area. As new risks may evolve or become known as the project progresses through its life cycle, Identify Risks is an iterative process. The process should involve the project team so
that they can develop and maintain a sense of ownership and responsibility for the risks and
associated risk response actions. Risk Register is the only output of this process.

Question 725

Which of the following provides the MOST useful information to determine risk exposure following control implementations?

A.Risk escalation and process for communication

B.Strategic plan and risk management integration

C.Risk limits, thresholds, and indicators

D.Policies, standards, and procedures

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