Most Recent Isaca CRISC Exam Questions & Answers

The most effective practice in protecting personally identifiable information (PII) from unauthorized access in a cloud environment is to utilize encryption with logical access controls. Encryption is a technique that transforms the data into an unreadable or unintelligible form, making it inaccessible or unusable by unauthorized parties. Logical access controls are the mechanisms or rules that regulate who can access, view, modify, or delete the data, based on their identity, role, or privilege. By utilizing encryption with logical access controls, the PII can be protected from unauthorized access, disclosure, or theft, both in transit and at rest, in a cloud environment. The other options are not as effective as utilizing encryption with logical access controls, as they are related to the classification, separation, or audit of the data, not the protection or security of the data.Reference:= Risk and Information Systems Control Study Manual, Chapter 3: IT Risk Response, Section 3.3: IT Risk Response Implementation, page 145.

According to the CRISC Review Manual, the greatest benefit of analyzing logs collected from different systems is to detect developing threats earlier, because it helps to identify and correlate the patterns, trends, and anomalies that may indicate a potential attack or compromise. Log analysis is the process of examining and interpreting the log data generated by various systems, such as firewalls, servers, routers, and applications. Log analysis can provide valuable insights into the activities and events that occur on the systems, and can enable the timely detection and response to the emerging threats. The other options are not the greatest benefits of analyzing logs, as they are less proactive or less strategic than detecting developing threats earlier. Maintaining a record of incidents is a benefit of logging, but not of analyzing logs, as it involves storing and preserving the log data for future reference. Facilitating forensic investigations is a benefit of analyzing logs, but it is a reactive and tactical activity that occurs after an incident has happened. Identifying security violations is a benefit of analyzing logs, but it is a specific and operational activity that focuses on the compliance and enforcement of the security policies and standards.Reference:= CRISC Review Manual, 7th Edition, Chapter 5, Section 5.3.2, page 263.

An independent review is typically sought to provide an objective assessment of the IT risk management program, ensuring that it aligns with the organization's overall strategy and objectives. The reviewer can identify areas where the program may not be effectively addressing the organization's strategic goals or where improvements can be made to better manage IT risks.

According to the CRISC Review Manual1, the business owner is the person who has the authority and accountability for the achievement of the business objectives and the management of the associated risks. The business owner is ultimately responsible for ensuring that the IT services and solutions support the business needs and goals, and for accepting or rejecting the residual risks after the implementation of risk responses.Therefore, the business owner should own the risk associated with calculation errors, as they are the ones who will be affected by the potential impact of the errors on the financial data and decisions.Reference:= CRISC Review Manual1, page 194.

The three lines of defense model is a framework that defines the roles and responsibilities of different functions in an organization for managing risks and ensuring effective internal control1. The three lines of defense are:

The first line of defense: the operational management and staff who are responsible for implementing and maintaining the internal control system and managing the risks within their areas of activity

The second line of defense: the oversight functions, such as risk management, compliance, and quality assurance, who provide guidance, support, and monitoring to the first line of defense and ensure that the internal control system is designed and operating effectively

The third line of defense: the internal audit function, who provides independent and objective assurance to the board and senior management on the adequacy and effectiveness of the internal control system and the performance of the first and second lines of defense2

The three lines of defense model facilitates a completely independent review of test results for evaluating control effectiveness, because it ensures that the internal audit function, as the third line of defense, has the authority, independence, and competence to conduct objective and unbiased assessments of the internal control system and report its findings and recommendations to the board and senior management3.The internal audit function can also use the test results from the first and second lines of defense as inputs for its own audit planning and testing, and verify their validity and reliability4.