CRA Business Continuity and Resilience Planning

Question 1

What is the primary purpose of a Business Impact Analysis (BIA)?

Accepted Answer

To identify critical business functions and quantify the impact of their disruption

Answer

To conduct a financial statement audit

Answer

To evaluate the effectiveness of marketing campaigns

Answer

To assess employee job satisfaction levels

Question 2

What does Recovery Time Objective (RTO) define in business continuity planning?

Accepted Answer

The maximum acceptable time to restore a business function after a disruption

Answer

The total budget allocated for recovery operations

Answer

The minimum number of staff required for recovery operations

Answer

The maximum allowable distance to a backup facility

Question 3

What does Recovery Point Objective (RPO) represent in business continuity?

Accepted Answer

The maximum acceptable amount of data loss measured in time

Answer

The ceiling on total recovery spending

Answer

The minimum number of data backup copies required

Answer

The geographic location of the primary recovery facility

Question 4

What is the primary purpose of a Business Continuity Plan (BCP)?

Accepted Answer

To ensure critical business functions can continue during and after a disruption

Answer

To eliminate all possible risks to the organization

Answer

To provide documentation required for insurance claims

Answer

To record and archive all past disruption incidents

Question 5

What is the primary responsibility of a Crisis Management Team (CMT)?

Accepted Answer

To direct and coordinate the organization's strategic response to a major incident

Answer

To market products and services during a business crisis

Answer

To process all insurance claims resulting from a crisis

Answer

To manage media subscription renewals during incidents

Question 6

What is the key distinction between business continuity and disaster recovery?

Accepted Answer

Business continuity addresses maintaining all operations broadly; disaster recovery focuses specifically on restoring IT systems

Answer

They are identical disciplines with different names

Answer

Disaster recovery has broader scope than business continuity

Answer

Business continuity only applies to regulated financial firms