Free Access ISACA.CRISC.v2022-05-05.q821 Practice Test (Page 94)

Question 461

While considering entity-based risks, which dimension of the COSO ERM framework is being referred?

A.Organizational levels

B.Risk components

C.Strategic objectives

D.Risk objectives

E.Explanation:
The organizational levels of the COSO ERM framework describe the subsidiary, business unit,
division, and entity-levels of aspects of risk solutions.

F.is incorrect. Strategic objectives includes strategic, operational, reporting, and
compliance risks; and not entity-based risks.

G.is incorrect. Risk components includes Internal Environment, Objectives settings, Event
identification, Risk assessment,Risk response, Control activities, Information and communication,
and monitoring.

Question 462

You have been assigned as the Project Manager for a new project that involves development of a new interface for your existing time management system. You have completed identifying all possible risks along with the stakeholders and team and have calculated the probability and impact of these risks. Which of the following would you need next to help you prioritize the risks?

A.Affinity Diagram

B.Risk rating rules

C.Project Network Diagram

D.Risk categories

Question 463

The MOST important consideration when selecting a control to mitigate an identified risk is whether:

A.the mitigation measures create compounding effects

B.the control eliminates the risk

C.the cost of control exceeds the mitigation value

D.there are sufficient internal resources to implement the control

Question 464

Which of the following is a crucial component of a key risk indicator (KRI) to ensure appropriate action is taken to mitigate risk?

A.Risk appetite

B.Management intervention

C.Board commentary

D.Escalation triggers

Question 465

When reviewing a report on the performance of control processes, it is MOST important to verify whether the:

A.control adheres to regulatory standards.

B.control process is designed effectively.

C.business process objectives have been met.

D.residual risk objectives have been achieved.

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Question 461

Question 462

Question 463

Question 464

Question 465

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