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IT-Risk-Fundamentals Valid Test Cost | Answers IT-Risk-Fundamentals Real Questions

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ISACA IT-Risk-Fundamentals Exam Syllabus Topics:

Topic
Details

Topic 1

Risk Monitoring, Reporting, and Communication: This domain targets tracking and communicating risk information within organizations. It focuses on best practices for monitoring ongoing risks, reporting findings to stakeholders, and ensuring effective communication throughout the organization.

Topic 2

Risk Identification: This section focuses on recognizing potential risks within IT systems. It explores various techniques for identifying risks, including threats, vulnerabilities, and other factors that could impact organizational operations.

Topic 3

Risk Assessment and Analysis: This topic evaluates identified risks. Candidates will learn how to prioritize risks based on their assessments, which is essential for making informed decisions regarding mitigation strategies.

Topic 4

Risk Response: This section measures the skills of risk management professionals tasked with formulating strategies to address identified risks. It covers various approaches for responding to risks, including avoidance, mitigation, transfer, and acceptance strategies.

ISACA IT Risk Fundamentals Certificate Exam Sample Questions (Q41-Q46):

NEW QUESTION # 41
Which of the following is important to ensure when validating the results of a frequency analysis?

A. The analysis method has been fully documented and explained.
B. Estimates used during the analysis were based on reliable and historical data.
C. The analysis was conducted by an independent third party.

Answer: B

Explanation:
When validating the results of a frequency analysis, it is important to ensure that estimates used during the analysis were based on reliable and historical data. Here's why:
* Estimates Used During the Analysis Were Based on Reliable and Historical Data: This ensures that the analysis is grounded in reality and reflects actual historical trends and patterns. Reliable data enhances the accuracy and credibility of the analysis, making the results more trustworthy and actionable.
* The Analysis Was Conducted by an Independent Third Party: While this can add an element of impartiality, it is not as critical as the accuracy and reliability of the data used. The focus should be on the quality and relevance of the data.
* The Analysis Method Has Been Fully Documented and Explained: Documentation is important for
* transparency and reproducibility, but it does not directly impact the accuracy of the frequency estimates.
The reliability of the data is paramount.
Therefore, ensuring that estimates are based on reliable and historical data is the most important factor in validating a frequency analysis.

NEW QUESTION # 42
Risk monitoring is MOST effective when it is conducted:

A. following changes to the business's environment.
B. before and after completing the risk treatment plan.
C. throughout the risk treatment planning process.

Answer: C

Explanation:
Effectiveness of Risk Monitoring:
* Continuous risk monitoring throughout the risk treatment planning process ensures that changes in the risk environment are detected early and addressed promptly.
* It allows for real-time adjustments and improvements to the risk treatment plan.
Phases of Risk Monitoring:
* Before Treatment:Initial monitoring helps in understanding the baseline risk levels and identifying critical areas that need attention.
* During Treatment:Ongoing monitoring ensures that the risk treatment measures are effective and any deviations are corrected timely.
* After Treatment:Post-treatment monitoring verifies the long-term effectiveness of the risk responses and identifies any residual risks.
References:
* ISA 315 (Revised 2019), Anlage 5discusses the importance of continuous monitoring in risk management to adapt to changes and ensure the effectiveness of risk treatments.

NEW QUESTION # 43
Which of the following occurs earliest in the risk response process?

A. Analyzing risk response options
B. Prioritizing risk responses
C. Developing risk response plans

Answer: A

Explanation:
Risk Response Process Steps:
* The risk response process typically involves several key steps: analyzing risk response options, prioritizing risk responses, and developing risk response plans.
* Analyzing risk response options occurs earliest because it involves evaluating the various ways to address identified risks.
Step-by-Step Process:
* Analyzing Risk Response Options:This is the initial step where different potential responses to the identified risks are considered. Options may include risk acceptance, avoidance, mitigation, or transfer.
* Prioritizing Risk Responses:After analyzing the options, the next step is to prioritize them based on factors such as impact, likelihood, and the cost of implementation.
* Developing Risk Response Plans:Finally, detailed plans are created for the prioritized risk responses, outlining the specific actions to be taken, resources required, and timelines.
References:
* ISA 315 (Revised 2019), Anlage 5provides a framework for understanding the components of risk management, including the evaluation and selection of appropriate risk responses.

NEW QUESTION # 44
In the context of enterprise risk management (ERM), what is the overall role of l&T risk management stakeholders?

A. Stakeholders are responsible for protecting enterprise assets to achieve business objectives.
B. Stakeholders set direction and provide support for risk management practices.
C. Stakeholders are accountable for all risk management activities within an enterprise.

Answer: B

Explanation:
In the context of enterprise risk management (ERM), stakeholders play a crucial role in shaping and supporting the risk management framework within the organization. Here is a detailed explanation of the roles and why option A is the correct answer:
* Option A: Stakeholders set direction and provide support for risk management practices
* This option accurately describes the overarching role of stakeholders in ERM. Stakeholders, including senior management and the board of directors, are responsible for establishing the risk management policies and frameworks. They provide the necessary resources, guidance, and oversight to ensure that risk management practices are integrated into the organizational processes. This support is essential for creating a risk-aware culture and for ensuring that risk management objectives align with the business goals.
* Option B: Stakeholders are accountable for all risk management activities within an enterprise
* This statement is overly broad. While stakeholders are accountable for ensuring that a robust risk management framework is in place, the actual execution of risk management activities is typically the responsibility of designated risk management teams and individual business units.
* Option C: Stakeholders are responsible for protecting enterprise assets to achieve business objectives
* Although stakeholders have a role in protecting enterprise assets, this responsibility is more specific and does not encompass the broader role of setting direction and providing support for the overall risk management framework.
Conclusion:Option A correctly captures the essential role of stakeholders in ERM, which involves setting the strategic direction for risk management and providing the necessary support to implement and maintain effective risk management practices.

NEW QUESTION # 45
Which of the following is MOST important for the determination of I&T-related risk?

A. The likelihood of occurrence for most relevant risk scenarios
B. The impact on competitors in the same industry
C. The impact on the business services that the IT system supports

Answer: C

Explanation:
When determining IT-related risk, understanding the impact on business services supported by IT systems is crucial. Here's why:
* IT and Business Services Integration:IT systems are integral to most business services, providing the backbone for operations, communication, and data management. Any risk to IT systems directly translates to risks to the business services they support.
* Assessment of Business Impact:Evaluating the impact on business services involves understanding how IT failures or vulnerabilities could disrupt key operations, affect customer satisfaction, or result in financial losses. This assessment helps in prioritizing risk mitigation efforts towards the most critical business functions.
* Framework and Standards:Standards like ISO 27001 emphasize the importance of assessing the impact of IT-related risks on business operations. This helps in developing a comprehensive risk management strategy that aligns IT security measures with business objectives.
* Practical Application:For instance, if an IT system supporting customer transactions is at risk, the potential business impact includes loss of revenue, reputational damage, and legal repercussions.
Addressing such risks requires prioritizing security and reliability measures for the affected IT systems.
* References:The importance of assessing the impact on business services is underscored in guidelines like ISA 315, which emphasize understanding the entity's environment and its risk assessment process.

NEW QUESTION # 46
......

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