Question 1011 · 1449 in bank
The BEST way to justify the risk mitigation actions recommended in a risk assessment would be to:
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Answer: A
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The BEST way to justify the risk mitigation actions recommended in a risk assessment would be to:
Answer: A
Which of the following is the MOST cost-effective way to test a business continuity plan?
Answer: A
Which of the following is the MOST important consideration when developing an organization's risk taxonomy?
Answer: C
Who should be accountable for ensuring effective cybersecurity controls are established?
Answer: C
Which of the following can be interpreted from a single data point on a risk heat map?
Answer: B
Which of the following is the MOST important use of KRIs?
Answer: B
Key Risk Indicators are the prime monitoring indicators of the enterprise. KRIs are highly relevant and possess a high probability of predicting or indicating important risk. KRIs help in avoiding excessively large number of risk indicators to manage and report that a large enterprise may have. As KRIs are the indicators of risk, hence its most important function is to effectively give an early warning signal that a high risk is emerging to enable management to take proactive action before the risk actually becomes a loss. Incorrect Answers: A: This is one of the important functions of KRIs which can help management to improve but is not as important as giving early warning. C: KRIs provide an indication of the enterprise's risk appetite and tolerance through metric setting, but this is not as important as giving early warning. D: This is not as important as giving early warning.
Periodically reviewing and updating a risk register with details on identified risk factors PRIMARILY helps to:
Answer: A
Which of the following is MOST helpful in identifying new risk exposures due to changes in the business environment?
Answer: D
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. It is a widely used strategic planning tool that helps organizations identify and analyze their internal strengths and weaknesses as well as external opportunities and threats. A SWOT analysis can be particularly useful in identifying new risk exposures that may arise as a result of changes in the business environment. By conducting a SWOT analysis, an organization can identify potential threats or risks arising from changes in the external environment, such as new competition, regulatory changes, or shifts in consumer preferences. Additionally, it can help identify internal weaknesses that could be exploited by external threats or risks. In contrast, a control gap analysis is focused on identifying gaps in existing controls that could lead to a failure to achieve specific objectives. While it can help identify risk exposures related to specific objectives, it may not be as effective in identifying new risk exposures due to changes in the business environment.
Source: Adapted from community discussion — john_boogieman
During testing, a risk practitioner finds the IT department's recovery time objective (RTO) for a key system does not align with the enterprise's business continuity plan (BCP). Which of the following should be done NEXT?
Answer: B
Agree with the answer B. There is nothing that says either the RTO or the BCP is the correct one. Senior management would need to determine which needs to change.
Source: Adapted from community discussion — CbtL
A global organization is considering the acquisition of a competitor. Senior management has requested a review of the overall risk profile from the targeted organization. Which of the following components of this review would provide the MOST useful information?
Answer: C
C - Risk Register is better. This is a complete universe of the risk in the organization and therefore can be used as a basis to understand the risk profile of the organization.
Source: Adapted from community discussion — huze
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