CISA - Certified Information Systems Auditor IT Risk Management Questions and Answers

Question 1

An IS auditor is reviewing an organization's IT risk management process. Which of the following is the MOST critical first step in this process?

Accepted Answer

Identifying and classifying information assets.

Answer

Developing risk response plans.

Answer

Implementing security controls.

Answer

Conducting a business impact analysis (BIA).

Question 2

During an audit, it is discovered that the organization has not defined its risk appetite. What is the PRIMARY concern for the IS auditor?

Accepted Answer

Risk mitigation efforts may not be aligned with business objectives.

Answer

The organization may be overspending on security controls.

Answer

The frequency of risk assessments is likely insufficient.

Answer

Compliance with industry regulations cannot be achieved.

Question 3

A company has decided to accept the risk associated with a potential data breach because the cost of the recommended countermeasure exceeds the potential loss. Which of the following risk response strategies has the company adopted?

Accepted Answer

Risk Acceptance

Answer

Risk Mitigation

Answer

Risk Transfer

Answer

Risk Avoidance

Question 4

Which of the following BEST describes the purpose of a Key Risk Indicator (KRI) in IT risk management?

Accepted Answer

To serve as an early warning signal that a risk is emerging or exceeding its threshold.

Answer

To measure the performance of the IT department after a risk has materialized.

Answer

To provide a historical record of all IT security incidents.

Answer

To calculate the precise financial impact of a specific risk event.

Question 5

An IS auditor is evaluating the IT risk assessment process for a financial services company. The auditor finds that the company uses a qualitative approach, categorizing risks as 'High,' 'Medium,' and 'Low.' The PRIMARY disadvantage of this approach is that it:

Accepted Answer

makes it difficult to perform a cost-benefit analysis for countermeasures.

Answer

is too complex and time-consuming for most organizations.

Answer

requires specialized software tools to implement effectively.

Answer

is not compliant with international standards like ISO 27005.

Question 6

A software development team is using an Agile methodology. To ensure risk is managed effectively, when should risk management activities be performed?

Accepted Answer

Continuously throughout the project lifecycle, especially during sprint planning.

Answer

Only at the beginning of the project, during the initial planning phase.

Answer

Only at the end of the project, during the post-implementation review.

Answer

By a separate, independent risk management team after each major release.