CRISC Practice Test

CRISC Practice Test practice questions, page 43 of 76, with answer review and explanations.

Question 211

What are the steps that are involved in articulating risks? Each correct answer represents a complete solution. (Choose three.)

  1. Identify business opportunities.
  2. Identify the response
  3. Communicate risk analysis results and report risk management activities and the state of compliance.
  4. Interpret independent risk assessment findings.

Question 212

What are the requirements of effectively communicating risk analysis results to the relevant stakeholders? Each correct answer represents a part of the solution. (Choose three.)

  1. The results should be reported in terms and formats that are useful to support business decisions
  2. Communicate only the negative risk impacts of events in order to drive response decisions
  3. Communicate the risk-return context clearly
  4. Provide decision makers with an understanding of worst-case and most probable scenarios

Question 213

Which among the following is the MOST crucial part of risk management process?

  1. Risk communication
  2. Auditing
  3. Risk monitoring
  4. Risk mitigation

Question 214

Which of the following is a key component of strong internal control environment?

  1. RMIS
  2. Segregation of duties
  3. Manual control
  4. Automated tools

Question 215

You are the project manager of the NKJ Project for your company. The project's success or failure will have a significant impact on your organization's profitability for the coming year. Management has asked you to identify the risk events and communicate the event's probability and impact as early as possible in the project. Management wants to avoid risk events and needs to analyze the cost-benefits of each risk event in this project. What term is assigned to the low-level of stakeholder tolerance in this project?

  1. Mitigation-ready project management
  2. Risk avoidance
  3. Risk utility function
  4. Risk-reward mentality