What is the most important benefit of classifying information assets?

• A.Linking security requirements to business objectives
• B.Allotting risk ownership
• C.Defining access rights
• D.Identifying controls that should be applied

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When documenting a risk response, which of the following provides the STRONGEST evidence to support the decision?

• A.A memo indicating risk acceptance
• B.Verbal majority acceptance of risk by committee
• C.IT audit follow-up responses
• D.List of compensating controls

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Which of the following is the MOST important consideration for a risk practitioner when making a system implementation go-live recommendation?

• A.Results of end user acceptance testing
• B.Completeness of system documentation
• C.availability of in-house resources
• D.Variances between planned and actual cost

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Which of the following are the common mistakes while implementing KRIs?
Each correct answer represents a complete solution. Choose three.

• A.Choosing KRIs that are difficult to measure
• B.Choosing KRIs that has high correlation with the risk
• C.Choosing KRIs that are incomplete or inaccurate due to unclear specifications
• D.Choosing KRIs that are not linked to specific risk

Correct Answer: A,C,D

Explanation/Reference:
Explanation:
A common mistake when implementing KRIs other than selecting too many KRIs includes choosing KRIs that are:
Not linked to specific risk

Incomplete or inaccurate due to unclear specifications

Too generic

Difficult to aggregate, compare and interpret

Difficult to measure

Incorrect Answers:
B: For ensuring high reliability of the KRI, The indicator must possess a high correlation with the risk and be a good predictor or outcome measure. Hence KRIs are chosen that has high correlation with the risk.

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Which of the following is the GREATEST benefit for an organization with a strong risk awareness culture?

• A.Using more risk specialists
• B.Reducing the need for risk policies and guidelines
• C.Reducing the involvement by senior management
• D.Discussing and managing risk as a team

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