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The questions for ISO-IEC-27005-Risk-Manager were last updated on Mar 29, 2025.
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Scenario 4: In 2017, seeing that millions of people turned to online shopping, Ed and James Cordon founded the online marketplace for footwear called Poshoe. In the past, purchasing pre-owned designer shoes online was not a pleasant experience because of unattractive pictures and an inability to ascertain the products' authenticity. However, after Poshoe's establishment, each product was well advertised and certified as authentic before being offered to clients. This increased the customers' confidence and trust in Poshoe's products and services. Poshoe has approximately four million users and its mission is to dominate the second-hand sneaker market and become a multi-billion dollar company.
Due to the significant increase of daily online buyers, Poshoe's top management decided to adopt a big data analytics tool that could help the company effectively handle, store, and analyze dat
a. Before initiating the implementation process, they decided to conduct a risk assessment. Initially, the company identified its assets, threats, and vulnerabilities associated with its information systems. In terms of assets, the company identified the information that was vital to the achievement of the organization's mission and objectives. During this phase, the company also detected a rootkit in their software, through which an attacker could remotely access Poshoe's systems and acquire sensitive data.
The company discovered that the rootkit had been installed by an attacker who had gained administrator access. As a result, the attacker was able to obtain the customers' personal data after they purchased a product from Poshoe. Luckily, the company was able to execute some scans from the target device and gain greater visibility into their software's settings in order to identify the vulnerability of the system.
The company initially used the qualitative risk analysis technique to assess the consequences and the likelihood and to determine the level of risk. The company defined the likelihood of risk as ''a few times in two years with the probability of 1 to 3 times per year.'' Later, it was decided that they would use a quantitative risk analysis methodology since it would provide additional information on this major risk. Lastly, the top management decided to treat the risk immediately as it could expose the company to other issues. In addition, it was communicated to their employees that they should update, secure, and back up Poshoe's software in order to protect customers' personal information and prevent unauthorized access from attackers.
According to scenario 4, Poshoe has identified its assets, vulnerabilities, and threats associated with its information systems. What does the company need in order to start identifying its existing controls?
To start identifying its existing controls, Poshoe needs a list of all existing and planned controls. This list will provide the necessary baseline to understand what security measures are already in place and what measures are planned to mitigate risks. This helps in determining gaps, evaluating the effectiveness of current controls, and identifying areas requiring improvement. Option A (The risk treatment implementation plan and documentation of controls) is incorrect because it is too specific and assumes a level of completion not indicated in the scenario. Option C (A list of incident scenarios with their consequences) is incorrect as it pertains to the analysis phase of risk management, not the identification of existing controls.
Scenario 1
The risk assessment process was led by Henry, Bontton's risk manager. The first step that Henry took was identifying the company's assets. Afterward, Henry created various potential incident scenarios. One of the main concerns regarding the use of the application was the possibility of being targeted by cyber attackers, as a great number of organizations were experiencing cyberattacks during that time. After analyzing the identified risks, Henry evaluated them and concluded that new controls must be implemented if the company wants to use the application. Among others, he stated that training should be provided to personnel regarding the use of the application and that awareness sessions should be conducted regarding the importance of protecting customers' personal data.
Lastly, Henry communicated the risk assessment results to the top management. They decided that the application will be used only after treating the identified risks.
According to scenario 1, what type of controls did Henry suggest?
In the context of Scenario 1, the controls suggested by Henry, such as training personnel on the use of the application and conducting awareness sessions on protecting customers' personal data, fall under the category of 'Administrative' controls. Administrative controls are policies, procedures, guidelines, and training programs designed to manage the human factors of information security. These controls are aimed at reducing the risks associated with human behavior, such as lack of awareness or improper handling of sensitive data, and are distinct from 'Technical' controls (like firewalls or encryption) and 'Managerial' controls (which include risk management strategies and governance frameworks).
ISO/IEC 27005:2018, Annex A, 'Controls and Safeguards,' which mentions the importance of administrative controls, such as awareness training and the development of policies, to mitigate identified risks.
ISO/IEC 27001:2013, Annex A, Control A.7.2.2, 'Information security awareness, education, and training,' which directly relates to administrative controls for personnel security.
Scenario 7: Adstry is a business growth agency that specializes in digital marketing strategies. Adstry helps organizations redefine the relationships with their customers through innovative solutions. Adstry is headquartered in San Francisco and recently opened two new offices in New York. The structure of the company is organized into teams which are led by project managers. The project manager has the full power in any decision related to projects. The team members, on the other hand, report the project's progress to project managers.
Considering that data breaches and ad fraud are common threats in the current business environment, managing risks is essential for Adstry. When planning new projects, each project manager is responsible for ensuring that risks related to a particular project have been identified, assessed, and mitigated. This means that project managers have also the role of the risk manager in Adstry. Taking into account that Adstry heavily relies on technology to complete their projects, their risk assessment certainly involves identification of risks associated with the use of information technology. At the earliest stages of each project, the project manager communicates the risk assessment results to its team members.
Adstry uses a risk management software which helps the project team to detect new potential risks during each phase of the project. This way, team members are informed in a timely manner for the new potential risks and are able to respond to them accordingly. The project managers are responsible for ensuring that the information provided to the team members is communicated using an appropriate language so it can be understood by all of them.
In addition, the project manager may include external interested parties affected by the project in the risk communication. If the project manager decides to include interested parties, the risk communication is thoroughly prepared. The project manager firstly identifies the interested parties that should be informed and takes into account their concerns and possible conflicts that may arise due to risk communication. The risks are communicated to the identified interested parties while taking into consideration the confidentiality of Adstry's information and determining the level of detail that should be included in the risk communication. The project managers use the same risk management software for risk communication with external interested parties since it provides a consistent view of risks. For each project, the project manager arranges regular meetings with relevant interested parties of the project, they discuss the detected risks, their prioritization, and determine appropriate treatment solutions. The information taken from the risk management software and the results of these meetings are documented and are used for decision-making processes. In addition, the company uses a computerized documented information management system for the acquisition, classification, storage, and archiving of its documents.
Based on scenario 7, Adstry's project managers hold regular meetings with interested parties to discuss risks and risk treatment solutions. According to the guidelines of ISO/IEC 27005, is this in compliance with best practices?
According to ISO/IEC 27005, effective risk management includes communication and consultation with relevant interested parties. Holding regular meetings to discuss risks, their prioritization, and appropriate treatment solutions is a good practice for ensuring that all parties are aware of the risks and involved in the decision-making process for risk treatment. This approach fosters coordination and collaboration, which is essential for managing risks effectively. Therefore, the practice of discussing risks and treatment options with relevant interested parties aligns with best practices, making option A the correct answer.
ISO/IEC 27005:2018, Clause 7, 'Communication and Consultation,' which emphasizes the importance of communicating risks and consulting with relevant interested parties.
Which statement regarding information gathering techniques is correct?
ISO/IEC 27005 supports the use of various information-gathering techniques, including technical tools, to identify and assess risks. Technical tools such as vulnerability scanners and asset management software can help organizations identify technical vulnerabilities and compile a list of assets that are critical for risk assessment. This aligns with the standard's recommendation to use automated tools for an effective risk assessment process. Option B is correct because it accurately describes an effective information-gathering technique.
ISO/IEC 27005:2018, Clause 8.2, 'Risk Identification,' which discusses using tools and techniques to identify risks.
Scenario 7: Adstry is a business growth agency that specializes in digital marketing strategies. Adstry helps organizations redefine the relationships with their customers through innovative solutions. Adstry is headquartered in San Francisco and recently opened two new offices in New York. The structure of the company is organized into teams which are led by project managers. The project manager has the full power in any decision related to projects. The team members, on the other hand, report the project's progress to project managers.
Considering that data breaches and ad fraud are common threats in the current business environment, managing risks is essential for Adstry. When planning new projects, each project manager is responsible for ensuring that risks related to a particular project have been identified, assessed, and mitigated. This means that project managers have also the role of the risk manager in Adstry. Taking into account that Adstry heavily relies on technology to complete their projects, their risk assessment certainly involves identification of risks associated with the use of information technology. At the earliest stages of each project, the project manager communicates the risk assessment results to its team members.
Adstry uses a risk management software which helps the project team to detect new potential risks during each phase of the project. This way, team members are informed in a timely manner for the new potential risks and are able to respond to them accordingly. The project managers are responsible for ensuring that the information provided to the team members is communicated using an appropriate language so it can be understood by all of them.
In addition, the project manager may include external interested parties affected by the project in the risk communication. If the project manager decides to include interested parties, the risk communication is thoroughly prepared. The project manager firstly identifies the interested parties that should be informed and takes into account their concerns and possible conflicts that may arise due to risk communication. The risks are communicated to the identified interested parties while taking into consideration the confidentiality of Adstry's information and determining the level of detail that should be included in the risk communication. The project managers use the same risk management software for risk communication with external interested parties since it provides a consistent view of risks. For each project, the project manager arranges regular meetings with relevant interested parties of the project, they discuss the detected risks, their prioritization, and determine appropriate treatment solutions. The information taken from the risk management software and the results of these meetings are documented and are used for decision-making processes. In addition, the company uses a computerized documented information management system for the acquisition, classification, storage, and archiving of its documents.
Based on scenario 7, project managers communicate risks to external interested parties, taking into account the information confidentiality. Which principle of efficient communication strategy do project managers follow?
ISO/IEC 27005 emphasizes that effective risk management involves clear communication strategies, especially when it comes to ensuring that all stakeholders---both internal and external---are well-informed about potential risks and their impacts. The communication of risks is an essential part of the risk treatment process, as stated in the ISO/IEC 27005 standard.
In the given scenario, Adstry project managers are responsible for communicating risks to external interested parties, while carefully considering the confidentiality of the company's information. They ensure that the risks are conveyed with the appropriate level of detail, protecting sensitive information but still providing the necessary insights to interested parties. This level of disclosure ensures that stakeholders are well aware of the risks without compromising the organization's confidentiality policies.
The principle of transparency in communication refers to the clear, open, and honest sharing of information that stakeholders need in order to make informed decisions. By identifying interested parties, considering their concerns, and ensuring risk communication is well-prepared and detailed appropriately, Adstry's project managers are practicing transparency. They provide the necessary risk information while balancing the protection of confidential data.
Option A, credibility, refers to building trust in communication, which is not the primary focus in this context. Option B, responsiveness, is about timely reactions to risks or concerns but doesn't directly relate to how the information is communicated regarding risk confidentiality.
Thus, transparency is the correct answer because it aligns with how project managers ensure that the necessary risk details are communicated in a clear and honest way, while still protecting confidential information, as outlined by ISO/IEC 27005 risk communication principles.
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