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NEW QUESTION # 71
Risk maps can help to develop common profiles in order to identify which of the following?
Answer: A
Explanation:
Risk maps, often visual tools representing risks across different dimensions (such as likelihood and impact), are valuable in identifying risk response activities that can be optimized for greater efficiency. Here's a detailed explanation:
* Understanding Risk Maps:Risk maps provide a visual representation of various risks within an organization. These maps typically plot risks on a matrix, with axes representing the likelihood of occurrence and the potential impact on the organization.
* Purpose of Risk Maps:The primary objective of using risk maps is to help organizations prioritize their risk management efforts. By visualizing risks, organizations can better understand which risks need immediate attention and which can be monitored over time.
* Identifying Efficient Risk Response Activities:Risk maps facilitate the identification of risk response activities that can be made more efficient. This is done by highlighting areas where multiple risks overlap or where current risk response activities may be redundant or overlapping. By analyzing these overlaps, organizations can streamline their risk response activities, thus improving efficiency and reducing costs.
* References to Professional Guidelines:According to ISA 315, an understanding of an entity's environment, including its risk assessment process, helps in identifying risks of material misstatement.
Similarly, understanding how the entity responds to these risks can help auditors and risk managers in planning and optimizing risk response activities.
NEW QUESTION # 72
Which of the following includes potential risk events and the associated impact?
Answer: B
Explanation:
A risk scenario includes potential risk events and the associated impact. Here's the detailed breakdown:
* Risk Scenario: This describes potential events that could affect the organization and includes detailed
* descriptions of the circumstances, events, and potential impacts. It helps in understanding what could happen and how it would impact the organization.
* Risk Policy: This outlines the overall approach and guidelines for managing risk within the organization.
It does not detail specific events or impacts.
* Risk Profile: This provides an overview of the risk landscape, summarizing the types and levels of risk the organization faces. It is more of a high-level summary rather than detailed potential events and impacts.
Therefore, a risk scenario is the most detailed in terms of potential risk events and their associated impacts.
NEW QUESTION # 73
Which of the following statements on an organization's cybersecurity profile is BEST suited for presentation to management?
Answer: C
Explanation:
Communicating Cybersecurity Profile:
* When presenting the organization's cybersecurity profile to management, it is crucial to focus on the effectiveness of the security measures in place and their ability to minimize risks.
Clarity and Relevance:
* Statement A ("The probability of a cyber attack varies between unlikely and very likely") is too vague
* and does not provide actionable information.
* Statement B ("Risk management believes the likelihood of a cyber attack is not imminent") lacks specificity and does not detail the measures taken.
Effectiveness of Security Measures:
* Statement C highlights the proactive steps taken to configure security measures to minimize risk. This approach is more likely to instill confidence in management about the current cybersecurity posture.
* According to best practices in IT risk management, as outlined in various frameworks such as NIST and ISO 27001, focusing on the effectiveness and configuration of security controls is key to managing cybersecurity risks.
Conclusion:
* Thus, the statement best suited for presentation to management is:Security measures are configured to minimize the risk of a cyber attack.
NEW QUESTION # 74
Which of the following is the MOST important information for determining the critical path of a project?
Answer: A
Explanation:
Project Management Context:
* Thecritical pathin project management is the sequence of stages determining the minimum time needed for an operation.
Factors Affecting the Critical Path:
* Regulatory requirementsare essential but typically do not define the sequence of tasks.
* Cost-benefit analysisinforms decision-making but does not directly determine task dependencies or timings.
* Specified end datesdirectly impact the scheduling and dependencies of tasks, defining the critical path to ensure project completion on time.
Conclusion:
* Specified end datesare the most critical information for determining the critical path, as they establish the framework within which all tasks must be completed, ensuring the project adheres to its schedule.
NEW QUESTION # 75
Which of the following are control conditions that exist in IT systems and may be exploited by an attacker?
Answer: A
Explanation:
Control conditions that exist in IT systems and may be exploited by an attacker are known as vulnerabilities.
Here's the breakdown:
* Cybersecurity Risk Scenarios: These are hypothetical situations that outline potential security threats and their impact on an organization. They are not specific control conditions but rather a part of risk assessment and planning.
* Vulnerabilities: These are weaknesses or flaws in the IT systems that can be exploited by attackers to gain unauthorized access or cause damage. Vulnerabilities can be found in software, hardware, or procedural controls, and addressing these is critical for maintaining system security.
* Threats: These are potential events or actions that can exploit vulnerabilities to cause harm. While threats are important to identify, they are not the control conditions themselves but rather the actors or events that take advantage of these conditions.
Thus, the correct answer is vulnerabilities, as these are the exploitable weaknesses within IT systems.
NEW QUESTION # 76
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