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IT-Risk-Fundamentals IT Risk Fundamentals Certificate Exam Questions and Answers

Questions 4

What is the purpose of a control objective?

Options:

A.

To describe the result of protecting an asset for a business process

B.

To describe the risk of loss to an asset

C.

To describe the responsibility of stakeholders to protect assets

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Questions 5

When evaluating the current state of controls, which of the following will provide the MOST comprehensive analysis of enterprise processes, incidents, logs, and the threat environment?

Options:

A.

Enterprise architecture (EA) assessment

B.

IT operations and management evaluation

C.

Third-party assurance review

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Questions 6

Which of the following MUST be consistent with the defined criteria when establishing the risk management context as it relates to calculation of risk?

Options:

A.

Risk appetite and tolerance levels

B.

Formulas and methods for combining impact and likelihood

C.

Key risk indicators (KRIs) and key performance indicators (KPIs)

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Questions 7

Which of the following is of GREATEST concern when aggregating risk information in management reports?

Options:

A.

Duplicating details of risk status

B.

Obfuscating the reasons behind risk

C.

Generalizing acceptable risk levels

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Questions 8

Which of the following occurs earliest in the risk response process?

Options:

A.

Developing risk response plans

B.

Prioritizing risk responses

C.

Analyzing risk response options

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Questions 9

Which of the following should be found in an I&T asset inventory to help inform the risk identification process?

Options:

A.

Loss scenario information for assets

B.

Security classification of assets

C.

Regulatory requirements of assets

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Questions 10

Which of the following is the MOST important factor to consider when developing effective risk scenarios?

Options:

A.

Risk events that affect both financial and strategic objectives

B.

Previously materialized risk events impacting competitors

C.

Real and relevant potential risk events

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Questions 11

An alert generated when network bandwidth usage exceeds a predefined level is an example of a:

Options:

A.

threat.

B.

risk event.

C.

lag indicator.

D.

key risk indicator (KRI).

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Questions 12

Which of the following is the MAIN reason to conduct a penetration test?

Options:

A.

To validate the results of a vulnerability assessment

B.

To validate the results of a control self-assessment

C.

To validate the results of a threat assessment

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Questions 13

Which of the following is the PRIMARY reason for an organization to monitor and review l&T-related risk periodically?

Options:

A.

To address changes in external and internal risk factors

B.

To ensure risk is managed within acceptable limits

C.

To facilitate the timely identification and replacement of legacy IT assets

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Questions 14

For risk reporting to adequately reflect current risk management capabilities, the risk report should be based on the enterprise:

Options:

A.

risk management framework.

B.

risk profile.

C.

risk appetite.

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Questions 15

When selecting a key risk indicator (KRI), it is MOST important that the KRI:

Options:

A.

supports established KPIs.

B.

produces multiple and varied results.

C.

is a reliable predictor of the risk event.

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Questions 16

How does an enterprise decide how much risk it is willing to take to meet its business objectives?

Options:

A.

By conducting research on industry standards for acceptable risk based on similar businesses

B.

By identifying the risk conditions of the business and the impact of the loss if these risks materialize

C.

By surveying business initiatives to determine what risks would cease their operations

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Questions 17

What is the FIRST step in the risk response process?

Options:

A.

Prioritize responses based on impact.

B.

Review risk analysis.

C.

Review risk appetite.

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Questions 18

Which of the following is MOST likely to promote ethical and open communication of risk management activities at the executive level?

Options:

A.

Recommending risk tolerance levels to the business

B.

Expressing risk results in financial terms

C.

Increasing the frequency of risk status reports

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Questions 19

Which types of controls are designed to avoid undesirable events, errors, and other adverse occurrences?

Options:

A.

Corrective controls

B.

Detective controls

C.

Preventive controls

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Questions 20

Which of the following is the MAIN advantage of a risk taxonomy?

Options:

A.

It enables risk quantification.

B.

It provides a scheme for classifying categories of risk.

C.

It promotes alignment with industry best practices for risk management.

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Questions 21

Risk monitoring is MOST effective when it is conducted:

Options:

A.

following changes to the business's environment.

B.

before and after completing the risk treatment plan.

C.

throughout the risk treatment planning process.

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Questions 22

An enterprise has initiated a project to implement a risk-mitigating control. Which of the following would provide senior management with the MOST useful information on the project's status?

Options:

A.

Risk register

B.

Risk heat map

C.

Risk report

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Questions 23

Which of the following is the PRIMARY reason to conduct a cost-benefit analysis as part of a risk response business case?

Options:

A.

To determine if the reduction in risk is sufficient to justify the cost of implementing the response

B.

To determine the future resource requirements and funding needed to monitor the related risk

C.

To calculate the total return on investment (ROI) over time and benefit to enterprise risk management (ERM)

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Questions 24

Which of the following is a KEY contributing component for determining risk rankings to direct risk response?

Options:

A.

Cost of mitigating controls

B.

Severity of a vulnerability

C.

Maturity of risk management processes

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Questions 25

Which of the following is a potential risk associated with IT hardware or devices?

Options:

A.

Loss of source code

B.

Lack of interoperability

C.

Sniffing attack

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Questions 26

Which of the following is the PRIMARY outcome of a risk scoping activity?

Options:

A.

Identification of major risk factors to be benchmarked against industry competitors

B.

Identification of potential high-impact risk areas throughout the enterprise

C.

Identification of risk scenarios related to emerging technologies

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Questions 27

The use of risk scenarios to guide senior management through a rapidly changing market environment is considered a key risk management

Options:

A.

benefit.

B.

incentive.

C.

capability.

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Questions 28

Which of the following are control conditions that exist in IT systems and may be exploited by an attacker?

Options:

A.

Cybersecurity risk scenarios

B.

Vulnerabilities

C.

Threats

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Questions 29

Which type of assessment evaluates the changes in technical or operating environments that could result in adverse consequences to an enterprise?

Options:

A.

Vulnerability assessment

B.

Threat assessment

C.

Control self-assessment

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Questions 30

Why is risk identification important to an organization?

Options:

A.

It provides a review of previous and likely threats to the enterprise.

B.

It ensures risk is recognized and the impact to business objectives is understood.

C.

It enables the risk register to detail potential impacts to an enterprise's business processes.

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Questions 31

When defining the risk monitoring process, management should also define the:

Options:

A.

penalties for noncompliance.

B.

continuous improvement plan.

C.

exception procedures.

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Questions 32

Which of the following are KEY considerations when selecting the best risk response for a given situation?

Options:

A.

Alignment with risk policy and industry standards

B.

Previous risk response strategies and action plans

C.

Cost of the response and capability to implement

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Questions 33

What is the PRIMARY purpose of providing timely and accurate risk information to key stakeholders?

Options:

A.

To establish risk appetite

B.

To facilitate risk-based decision making

C.

To develop effective key risk indicators (KRIs)

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Questions 34

Risk impact criteria are PRIMARILY used to:

Options:

A.

help establish the enterprise risk appetite.

B.

determine loss associated with specific IT assets.

C.

prioritize the enterprise's risk responses.

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Questions 35

Which of the following would be considered a cyber-risk?

Options:

A.

A system that does not meet the needs of users

B.

A change in security technology

C.

Unauthorized use of information

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Exam Name: IT Risk Fundamentals Certificate Exam
Last Update: Mar 29, 2025
Questions: 118

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