CA Foundation Business Economics Questions 2023 - Part 32
Fri, 03 Mar 2023
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CRISC—Certified in Risk and Information Systems Control Certification Questions and answer - Part 49
1. John works as a project manager for BlueWell Inc. He is determining which risks can affect the project. Which of the following inputs of the identify risks process is useful in identifying risks associated to the time allowances for the activities or projects as a whole, with a width of the range indicating the degrees of risk?
A) Activity duration estimates
B) Activity cost estimates
C) Risk management plan
D) Schedule management plan
2. Which of the following events refer to loss of integrity?Each correct answer represents a complete solution. Choose three.(Select 3answers)
A) Someone sees company's secret formula
B) Someone makes unauthorized changes to a Web site
C) An e-mail message is modified in transit
D) A virus infects a file
3. Which of the following should be PRIMARILY considered while designing information systems controls?
A) The IT strategic plan
B) The existing IT environment
C) The organizational strategic plan
D) The present IT budget
4. Which of the following is the MOST effective inhibitor of relevant and efficient communication?
A) A false sense of confidence at the top on the degree of actual exposure related to IT and lack of a well-understood direction for risk management from the top down
B) The perception that the enterprise is trying to cover up known risk from stakeholders
C) Existence of a blame culture
D) Misalignment between real risk appetite and translation into policies
5. You and your project team are identifying the risks that may exist within your project. Some of the risks are small risks that won't affect your project much if they happen. What should you do with these identified risk events?
A) These risks can be dismissed.
B) These risks can be accepted.
C) These risks can be added to a low priority risk watch list.
D) All risks must have a valid, documented risk response.
A) Activity duration estimates
B) Activity cost estimates
C) Risk management plan
D) Schedule management plan
2. Which of the following events refer to loss of integrity?Each correct answer represents a complete solution. Choose three.(Select 3answers)
A) Someone sees company's secret formula
B) Someone makes unauthorized changes to a Web site
C) An e-mail message is modified in transit
D) A virus infects a file
3. Which of the following should be PRIMARILY considered while designing information systems controls?
A) The IT strategic plan
B) The existing IT environment
C) The organizational strategic plan
D) The present IT budget
4. Which of the following is the MOST effective inhibitor of relevant and efficient communication?
A) A false sense of confidence at the top on the degree of actual exposure related to IT and lack of a well-understood direction for risk management from the top down
B) The perception that the enterprise is trying to cover up known risk from stakeholders
C) Existence of a blame culture
D) Misalignment between real risk appetite and translation into policies
5. You and your project team are identifying the risks that may exist within your project. Some of the risks are small risks that won't affect your project much if they happen. What should you do with these identified risk events?
A) These risks can be dismissed.
B) These risks can be accepted.
C) These risks can be added to a low priority risk watch list.
D) All risks must have a valid, documented risk response.
1. Right Answer: A
Explanation: The activity duration estimates review is valuable in identifying risks associated to the time allowances for the activities or projects as a whole, with a width of the range indicating the degrees of risk.Incorrect Answers:B: The activity cost estimates review is valuable in identifying risks as it provides a quantitative assessment of the expected cost to complete scheduled activities and is expressed as a range, with a width of the range indicating the degrees of risk.C: A Risk management plan is a document arranged by a project manager to estimate the effectiveness, predict risks, and build response plans to mitigate them.It also consists of the risk assessment matrix.D: It describes how the schedule contingencies will be reported and assessed.
2. Right Answer: B,C,D
Explanation: Loss of integrity refers to the following types of losses: An e-mail message is modified in transit A virus infects a file Someone makes unauthorized changes to a Web siteIncorrect Answers:A: Someone sees company's secret formula or password comes under loss of confidentiality.
3. Right Answer: C
Explanation: Review of the enterprise's strategic plan is the first step in designing effective IS controls that would fit the enterprise's long-term plans.Incorrect Answers:A: The IT strategic plan exists to support the enterprise's strategic plan but is not solely considered while designing information system control.B: Review of the existing IT environment is also useful and necessary but is not the first step that needs to be undertaken.D: The present IT budget is just one of the components of the strategic plan.
4. Right Answer: C
Explanation: Blame culture should be avoided. It is the most effective inhibitor of relevant and efficient communication. In a blame culture, business units tend to point the finger at IT when projects are not delivered on time or do not meet expectations. In doing so, they fail to realize how the business unit's involvement up front affects project success. In extreme cases, the business unit may assign blame for a failure to meet the expectations that the unit never clearly communicated. Executive leadership must identify and quickly control a blame culture if collaboration is to be fostered throughout the enterprise.Incorrect Answers:A: This is the consequence of poor risk communication, not the inhibitor of effective communication.B: This is the consequence of poor risk communication, not the inhibitor of effective communication.D: Misalignment between real risk appetite and translation into policies is an inhibitor of effective communication, but is not a prominent as existence of blame culture.
5. Right Answer: C
Explanation: Low-impact, low-probability risks can be added to the low priority risk watch list.Incorrect Answers:A: These risks are not dismissed; they are still documented on the low priority risk watch list.B: While these risks may be accepted, they should be documented on the low priority risk watch list. This list will be periodically reviewed and the status of the risks may change.D: Not every risk demands a risk response, so this choice is incorrect.
Explanation: The activity duration estimates review is valuable in identifying risks associated to the time allowances for the activities or projects as a whole, with a width of the range indicating the degrees of risk.Incorrect Answers:B: The activity cost estimates review is valuable in identifying risks as it provides a quantitative assessment of the expected cost to complete scheduled activities and is expressed as a range, with a width of the range indicating the degrees of risk.C: A Risk management plan is a document arranged by a project manager to estimate the effectiveness, predict risks, and build response plans to mitigate them.It also consists of the risk assessment matrix.D: It describes how the schedule contingencies will be reported and assessed.
2. Right Answer: B,C,D
Explanation: Loss of integrity refers to the following types of losses: An e-mail message is modified in transit A virus infects a file Someone makes unauthorized changes to a Web siteIncorrect Answers:A: Someone sees company's secret formula or password comes under loss of confidentiality.
3. Right Answer: C
Explanation: Review of the enterprise's strategic plan is the first step in designing effective IS controls that would fit the enterprise's long-term plans.Incorrect Answers:A: The IT strategic plan exists to support the enterprise's strategic plan but is not solely considered while designing information system control.B: Review of the existing IT environment is also useful and necessary but is not the first step that needs to be undertaken.D: The present IT budget is just one of the components of the strategic plan.
4. Right Answer: C
Explanation: Blame culture should be avoided. It is the most effective inhibitor of relevant and efficient communication. In a blame culture, business units tend to point the finger at IT when projects are not delivered on time or do not meet expectations. In doing so, they fail to realize how the business unit's involvement up front affects project success. In extreme cases, the business unit may assign blame for a failure to meet the expectations that the unit never clearly communicated. Executive leadership must identify and quickly control a blame culture if collaboration is to be fostered throughout the enterprise.Incorrect Answers:A: This is the consequence of poor risk communication, not the inhibitor of effective communication.B: This is the consequence of poor risk communication, not the inhibitor of effective communication.D: Misalignment between real risk appetite and translation into policies is an inhibitor of effective communication, but is not a prominent as existence of blame culture.
5. Right Answer: C
Explanation: Low-impact, low-probability risks can be added to the low priority risk watch list.Incorrect Answers:A: These risks are not dismissed; they are still documented on the low priority risk watch list.B: While these risks may be accepted, they should be documented on the low priority risk watch list. This list will be periodically reviewed and the status of the risks may change.D: Not every risk demands a risk response, so this choice is incorrect.
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