CRMA CRMA - Certification in Risk Management Assurance Emerging Risks and Technology Questions and Answers

Question 1

Which of the following BEST describes an 'emerging risk' in the context of enterprise risk management?

Accepted Answer

A risk that is newly identified, evolving in nature, or increasing in significance with high uncertainty about its likelihood and impact

Answer

Emerging risks are characterized by novelty, evolving dynamics, and uncertainty, making traditional quantitative assessment methods difficult to apply.

Question 2

How should the CRMA professional approach the assessment of cybersecurity risk within an ERM framework?

Accepted Answer

Treat cybersecurity as an enterprise risk requiring board-level oversight, risk appetite alignment, and integrated assurance across all three lines

Answer

Cybersecurity risk is a strategic enterprise-level risk that requires governance, cross-functional ownership, and integrated assurance under an ERM approach.

Question 3

When using data analytics in a risk-based internal audit engagement, which benefit is MOST significant for the CRMA professional?

Accepted Answer

The ability to analyze entire populations of transactions rather than samples, increasing the likelihood of identifying anomalies and control failures

Answer

Population-level analytics allow auditors to test 100% of transactions, dramatically improving the detection of anomalies compared to sampling-based approaches.

Question 4

An organization is deploying artificial intelligence in a high-stakes decision-making process. Which risk category is MOST unique to AI compared to traditional software systems?

Accepted Answer

Algorithmic bias risk — the possibility that AI outputs systematically disadvantage certain groups based on flawed training data

Answer

AI introduces algorithmic bias risk that can be difficult to detect and may produce discriminatory outcomes even when inputs appear neutral.

Question 5

Which framework is MOST commonly referenced when assessing risks related to information technology and cybersecurity controls in a US organization?

Accepted Answer

NIST Cybersecurity Framework (CSF)

Answer

The NIST Cybersecurity Framework provides a widely adopted US standard for identifying, protecting against, detecting, responding to, and recovering from cyber risks.

(CRMA) Certification in Risk Management Assurance Practice Test

(CRMA) Certification in Risk Management Assurance Practice Test

CRMA CRMA - Certification in Risk Management Assurance Emerging Risks and Technology Questions and Answers