Which of the following is the BEST method of creating risk awareness in an organization?

• A.Appointing the risk manager from the business units
• B.Marking the risk register available to project stakeholders
• C.Providing regular communication to risk managers
• D.Ensuring senior management commitment to risk training

Comment: *

Name: *

Email: *

Verification: *

Which of the following is true for risk management frameworks, standards and practices?
Each correct answer represents a part of the solution. Choose three.

• A.They act as a guide to focus efforts of variant teams.
• B.They result in increase in cost of training, operation and performance improvement.
• C.They provide a systematic view of "things to be considered" that could harm clients or an enterprise.
• D.They assist in achieving business objectives quickly and easily.

Correct Answer: A,C,D

Explanation/Reference:
Explanation:
Frameworks, standards and practices are necessary as:
They provide a systematic view of "things to be considered" that could harm clients or an enterprise.

They act as a guide to focus efforts of variant teams.

They save time and revenue, such as training costs, operational costs and performance improvement

costs.
They assist in achieving business objectives quickly and easily.

Comment: *

Name: *

Email: *

Verification: *

An enterprise has identified risk events in a project. While responding to these identified risk events, which among the following stakeholders is MOST important for reviewing risk response options to an IT risk.

• A.Information security managers
• B.Internal auditors
• C.Incident response team members
• D.Business managers
• E.Explanation:
  Business managers are accountable for managing the associated risk and will determine what actions to take based on the information provided by others.

Comment: *

Name: *

Email: *

Verification: *

When of the following is the MOST significant exposure when an application uses individual user accounts to access the underlying database?

• A.Application may not capture a complete audit trail.
• B.Multiple connects to the database are used and slow the process
• C.Users may be able to circumvent application controls.
• D.Users may share accounts with business system analyst

Comment: *

Name: *

Email: *

Verification: *

You are the project manager of HGT project. You are in the first phase of the risk response process and are doing following tasks :
Communicating risk analysis results
Reporting risk management activities and the state of compliance
Interpreting independent risk assessment findings
Identifying business opportunities
Which of the following process are you performing?

• A.Articulating risk
• B.Mitigating risk
• C.Tracking risk
• D.Reporting risk

Correct Answer: A

Explanation/Reference:
Explanation:
Articulating risk is the first phase in the risk response process to ensure that information on the true state of exposures and opportunities are made available in a timely manner and to the right people for appropriate response. Following are the tasks that are involved in articulating risk:
Communicate risk analysis results.

Report risk management activities and the state of compliance.

Interpret independent risk assessment findings.

Identify business opportunities.

Incorrect Answers:
B: Risk mitigation attempts to reduce the probability of a risk event and its impacts to an acceptable level.
Risk mitigation can utilize various forms of control carefully integrated together. This comes under risk response process and is latter stage after articulating risk.
C: Tracking risk is the process of tracking the ongoing status of risk mitigation processes. This tracking ensures that the risk response strategy remains active and that proposed controls are implemented according to schedule.
D: This is not related to risk response process. It is a type of risk. Reporting risks are the risks that are caused due to wrong reporting which leads to bad decision.

Comment: *

Name: *

Email: *

Verification: *