A healthcare organization has approved a risk action plan to mitigate the risk of ransomware attacks. The plan includes deploying endpoint detection and response (EDR) tools, conducting employee phishing simulations, and establishing offline backups. The risk owner has assigned the EDR deployment to the IT operations manager, phishing simulations to the security awareness team, and backup configuration to the data center manager. What is the most important element to include in the action plan to ensure successful implementation?

A description of the risk scenario and its potential impact.

A timeline with milestones and a designated owner for each action item.

A list of potential vendors for the EDR tool.

A budget estimate for each action item.

A pharmaceutical company is evaluating the risk of a data breach in its clinical trial data. The risk owner has proposed two responses: (1) implement advanced encryption and access controls at a cost of $2 million, reducing the expected annual loss from $10 million to $1 million; (2) purchase cyber insurance with a premium of $1.5 million, covering up to $8 million of losses. The company's risk appetite is low for clinical data breaches. Which response is most appropriate from a cost-benefit perspective?

Avoid the risk by discontinuing clinical trials that involve sensitive data.

Implement the encryption and access controls because the net benefit is higher than insurance.

Purchase the cyber insurance because it is cheaper than the controls.

Accept the risk because the expected loss is within the company's financial capacity.

When should an escalation procedure be triggered in the context of a risk action plan?

When a milestone is missed or a risk exceeds the threshold

When the budget is fully utilized

When the risk action plan is completed

Certified in Risk and Information Systems Control

Domain 3Objective 1

Risk Response and Mitigation CRISC Practice Questions (Page 3)

Part of the Domain 3: Risk Response and Reporting domain, which accounts for 32% of the CRISC exam.

22questions here

5free pages

5concepts

32%of the exam

Questions 11–15

11foundation · easy
An organization decides to discontinue a business process because the risk associated with it exceeds the risk appetite and cannot be cost-effectively reduced. Which risk response option is being applied?
Select an answer first
12application · medium
A healthcare organization has approved a risk action plan to mitigate the risk of ransomware attacks. The plan includes deploying endpoint detection and response (EDR) tools, conducting employee phishing simulations, and establishing offline backups. The risk owner has assigned the EDR deployment to the IT operations manager, phishing simulations to the security awareness team, and backup configuration to the data center manager. What is the most important element to include in the action plan to ensure successful implementation?
Select an answer first
13expert · hard
A pharmaceutical company is evaluating the risk of a data breach in its clinical trial data. The risk owner has proposed two responses: (1) implement advanced encryption and access controls at a cost of $2 million, reducing the expected annual loss from $10 million to $1 million; (2) purchase cyber insurance with a premium of $1.5 million, covering up to $8 million of losses. The company's risk appetite is low for clinical data breaches. Which response is most appropriate from a cost-benefit perspective?
Select an answer first
14foundation · easy
When should an escalation procedure be triggered in the context of a risk action plan?
Select an answer first
15foundation · easy
Which component is essential in a risk action plan to ensure that progress can be tracked?
Select an answer first

Finished these 5 questions?

Review the revealed explanations, or continue through the curriculum.

Next 5 questions →Back to CRISC

Free Basic Practice is a study aid with revealable answers — not a scored exam. Examers.io is independent and not affiliated with or endorsed by ISACA. “CRISC” is a trademark of its owner, used for identification only.

Risk Response and Mitigation CRISC Practice Questions (Page 3)

Questions 11–15

An organization decides to discontinue a business process because the risk associated with it exceeds the risk appetite and cannot be cost-effectively reduced. Which risk response option is being applied?

When should an escalation procedure be triggered in the context of a risk action plan?

Which component is essential in a risk action plan to ensure that progress can be tracked?

Keep studying — Domain 3: Risk Response and Reporting