Free Access ISACA.CRISC.v2022-05-05.q821 Practice Test (Page 24)

Question 111

Which of the following risk register updates is MOST important for senior management to review?

A.Changing a risk owner

B.Retiring a risk scenario no longer used

C.Extending the date of a future action plan by two months

D.Avoiding a risk that was previously accepted

Question 112

Which of the following statements BEST describes risk appetite?

A.Acceptable variation between risk thresholds and business objectives

B.The amount of risk an organization is willing to accept

C.The effective management of risk and internal control environments

D.The acceptable variation relative to the achievement of objectives

Question 113

Ned is the project manager of the HNN project for your company. Ned has asked you to help him complete some probability distributions for his project. What portion of the project will you most likely use for probability distributions?

A.Bias towards risk in new resources

B.Risk probability and impact matrixes

C.Uncertainty in values such as duration of schedule activities

D.Risk identification

Question 114

Kelly is the project manager of the NNQ Project for her company. This project will last for one year and has a budget of $350,000. Kelly is working with her project team and subject matter experts to begin the risk response planning process. What are the two inputs that Kelly would need to begin the plan risk response process?

A.Risk register and the results of risk analysis

B.Risk register and the risk response plan

C.Risk register and power to assign risk responses

D.Risk register and the risk management plan

E.Explanation:
The only two inputs for the risk response planning are the risk register and the risk management plan. The plan risk response project management process aims to reduce the threats to the project objectives and to increase opportunities. It follows the perform qualitative risk analysis process and perform quantitative risk analysis process. Plan risk response process includes the risk response owner to take the job for each agreed-to and funded risk response. This process addresses the risks by their priorities, schedules the project management plan as required, and inserts resources and activities into the budget. The inputs to the plan risk response process are as follows: Risk register Risk management plan

Question 115

Which of the following is true for risk management frameworks, standards and practices?
Each correct answer represents a part of the solution. Choose three.

A.They act as a guide to focus efforts of variant teams.

B.They result in increase in cost of training, operation and performance improvement.

C.They provide a systematic view of "things to be considered" that could harm clients or an enterprise.

D.They assist in achieving business objectives quickly and easily.

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