ISO-IEC-27005-RISK-MANAGER CERTIFICATION TEST ANSWERS, ISO-IEC-27005-RISK-MANAGER SAMPLE EXAM

ISO-IEC-27005-Risk-Manager Certification Test Answers, ISO-IEC-27005-Risk-Manager Sample Exam

ISO-IEC-27005-Risk-Manager Certification Test Answers, ISO-IEC-27005-Risk-Manager Sample Exam

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PECB ISO-IEC-27005-Risk-Manager Exam Syllabus Topics:

TopicDetails
Topic 1
  • Fundamental Principles and Concepts of Information Security Risk Management: This domain covers the essential ideas and core elements behind managing risks in information security, with a focus on identifying and mitigating potential threats to protect valuable data and IT resources.
Topic 2
  • Implementation of an Information Security Risk Management Program: This domain discusses the steps for setting up and operationalizing a risk management program, including procedures to recognize, evaluate, and reduce security risks within an organization’s framework.
Topic 3
  • Information Security Risk Management Framework and Processes Based on ISO
  • IEC 27005: Centered around ISO
  • IEC 27005, this domain provides structured guidelines for managing information security risks, promoting a systematic and standardized approach aligned with international practices.
Topic 4
  • Other Information Security Risk Assessment Methods: Beyond ISO
  • IEC 27005, this domain reviews alternative methods for assessing and managing risks, allowing organizations to select tools and frameworks that align best with their specific requirements and risk profile.

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PECB Certified ISO/IEC 27005 Risk Manager Sample Questions (Q39-Q44):

NEW QUESTION # 39
Scenario 2: Travivve is a travel agency that operates in more than 100 countries. Headquartered in San Francisco, the US, the agency is known for its personalized vacation packages and travel services. Travivve aims to deliver reliable services that meet its clients' needs. Considering the impact of information security in its reputation, Travivve decided to implement an information security management system (ISMS) based on ISO/IEC 27001. In addition, they decided to establish and implement an information security risk management program. Based on the priority of specific departments in Travivve, the top management decided to initially apply the risk management process only in the Sales Management Department. The process would be applicable for other departments only when introducing new technology.
Travivve's top management wanted to make sure that the risk management program is established based on the industry best practices. Therefore, they created a team of three members that would be responsible for establishing and implementing it. One of the team members was Travivve's risk manager who was responsible for supervising the team and planning all risk management activities. In addition, the risk manager was responsible for monitoring the program and reporting the monitoring results to the top management.
Initially, the team decided to analyze the internal and external context of Travivve. As part of the process of understanding the organization and its context, the team identified key processes and activities. Then, the team identified the interested parties and their basic requirements and determined the status of compliance with these requirements. In addition, the team identified all the reference documents that applied to the defined scope of the risk management process, which mainly included the Annex A of ISO/IEC 27001 and the internal security rules established by Travivve. Lastly, the team analyzed both reference documents and justified a few noncompliances with those requirements.
The risk manager selected the information security risk management method which was aligned with other approaches used by the company to manage other risks. The team also communicated the risk management process to all interested parties through previously established communication mechanisms. In addition, they made sure to inform all interested parties about their roles and responsibilities regarding risk management. Travivve also decided to involve interested parties in its risk management activities since, according to the top management, this process required their active participation.
Lastly, Travivve's risk management team decided to conduct the initial information security risk assessment process. As such, the team established the criteria for performing the information security risk assessment which included the consequence criteria and likelihood criteria.
Based on the scenario above, answer the following question:
Travivve decided to initially apply the risk management process only in the Sales Management Department. Is this acceptable?

  • A. Yes, the risk management process must be applied to only those departments that handle customers' personal information in an organization
  • B. No, the risk management process must be applied in all organizational levels
  • C. Yes, the risk management process may be applied to only a subset of departments in an organization

Answer: C

Explanation:
ISO/IEC 27005 provides guidance on risk management for information security, and it allows flexibility in applying the risk management process to different parts of an organization. The decision to initially apply the risk management process only to the Sales Management Department is acceptable under ISO/IEC 27005, as the standard supports the selective application of risk management activities based on the specific needs and priorities of the organization. This is in line with risk management best practices, where organizations may focus on critical areas first (such as high-risk departments or those that handle sensitive information) and later expand the process as needed. Therefore, applying the risk management process to a subset of departments is appropriate, making option B the correct answer.
Reference:
ISO/IEC 27005:2018, Clause 7, "Context Establishment," which allows defining the scope and boundaries of risk management as relevant to the organization's needs.
ISO/IEC 27001:2013, Clause 4.3, "Determining the scope of the information security management system," which also permits defining a scope based on priorities and relevance.


NEW QUESTION # 40
Scenario 5: Detika is a private cardiology clinic in Pennsylvania, the US. Detika has one of the most advanced healthcare systems for treating heart diseases. The clinic uses sophisticated apparatus that detects heart diseases in early stages. Since 2010, medical information of Detika's patients is stored on the organization's digital systems. Electronic health records (EHR), among others, include patients' diagnosis, treatment plan, and laboratory results.
Storing and accessing patient and other medical data digitally was a huge and a risky step for Detik a. Considering the sensitivity of information stored in their systems, Detika conducts regular risk assessments to ensure that all information security risks are identified and managed. Last month, Detika conducted a risk assessment which was focused on the EHR system. During risk identification, the IT team found out that some employees were not updating the operating systems regularly. This could cause major problems such as a data breach or loss of software compatibility. In addition, the IT team tested the software and detected a flaw in one of the software modules used. Both issues were reported to the top management and they decided to implement appropriate controls for treating the identified risks. They decided to organize training sessions for all employees in order to make them aware of the importance of the system updates. In addition, the manager of the IT Department was appointed as the person responsible for ensuring that the software is regularly tested.
Another risk identified during the risk assessment was the risk of a potential ransomware attack. This risk was defined as low because all their data was backed up daily. The IT team decided to accept the actual risk of ransomware attacks and concluded that additional measures were not required. This decision was documented in the risk treatment plan and communicated to the risk owner. The risk owner approved the risk treatment plan and documented the risk assessment results.
Following that, Detika initiated the implementation of new controls. In addition, one of the employees of the IT Department was assigned the responsibility for monitoring the implementation process and ensure the effectiveness of the security controls. The IT team, on the other hand, was responsible for allocating the resources needed to effectively implement the new controls.
How should Detika define which of the identified risks should be treated first? Refer to scenario 5.

  • A. Based on the resources required for ensuring effective implementation
  • B. Based on who is accountable and responsible for approving the risk treatment plan
  • C. Based on their priority in the risk treatment plan

Answer: C

Explanation:
Detika should prioritize the treatment of identified risks based on their priority in the risk treatment plan. According to ISO/IEC 27005, the risk treatment plan specifies the order in which risks should be treated based on their severity, likelihood, and impact on the organization. Risks that pose the greatest threat to the organization or have the highest priority should be treated first. Options B and C are incorrect because allocating resources or determining accountability do not inherently establish the priority of risk treatment; the risk treatment plan does.


NEW QUESTION # 41
Scenario 2: Travivve is a travel agency that operates in more than 100 countries. Headquartered in San Francisco, the US, the agency is known for its personalized vacation packages and travel services. Travivve aims to deliver reliable services that meet its clients' needs. Considering the impact of information security in its reputation, Travivve decided to implement an information security management system (ISMS) based on ISO/IEC 27001. In addition, they decided to establish and implement an information security risk management program. Based on the priority of specific departments in Travivve, the top management decided to initially apply the risk management process only in the Sales Management Department. The process would be applicable for other departments only when introducing new technology.
Travivve's top management wanted to make sure that the risk management program is established based on the industry best practices. Therefore, they created a team of three members that would be responsible for establishing and implementing it. One of the team members was Travivve's risk manager who was responsible for supervising the team and planning all risk management activities. In addition, the risk manager was responsible for monitoring the program and reporting the monitoring results to the top management.
Initially, the team decided to analyze the internal and external context of Travivve. As part of the process of understanding the organization and its context, the team identified key processes and activities. Then, the team identified the interested parties and their basic requirements and determined the status of compliance with these requirements. In addition, the team identified all the reference documents that applied to the defined scope of the risk management process, which mainly included the Annex A of ISO/IEC 27001 and the internal security rules established by Travivve. Lastly, the team analyzed both reference documents and justified a few noncompliances with those requirements.
The risk manager selected the information security risk management method which was aligned with other approaches used by the company to manage other risks. The team also communicated the risk management process to all interested parties through previously established communication mechanisms. In addition, they made sure to inform all interested parties about their roles and responsibilities regarding risk management. Travivve also decided to involve interested parties in its risk management activities since, according to the top management, this process required their active participation.
Lastly, Travivve's risk management team decided to conduct the initial information security risk assessment process. As such, the team established the criteria for performing the information security risk assessment which included the consequence criteria and likelihood criteria.
Did the risk management team establish all the criteria required to perform the information security risk assessment? Refer to scenario 2.

  • A. No, the risk management team should also establish the criteria for determining the level of risk
  • B. No, the risk management team should also establish the criteria for treating the identified risks
  • C. Yes. the risk management team established all the criteria that are necessary to perform an information security risk assessment

Answer: A

Explanation:
While Travivve's risk management team established criteria for consequence and likelihood, ISO/IEC 27005 requires that additional criteria should be defined to complete a risk assessment. Specifically, the team should also establish criteria for determining the level of risk, which involves combining the likelihood and consequence to evaluate risk magnitude. This step is crucial for prioritizing risks and determining which risks require treatment. The absence of criteria for determining the level of risk means that the team did not fully meet the requirements of ISO/IEC 27005 for performing an information security risk assessment. Therefore, the correct answer is A.
Reference:
ISO/IEC 27005:2018, Clause 8.4, "Risk Assessment," which outlines the need to establish criteria for risk acceptance, which includes determining the level of risk.


NEW QUESTION # 42
Does information security reduce the impact of risks?

  • A. Yes, information security reduces risks and their impact by protecting the organization against threats and vulnerabilities
  • B. No, information security does not have an impact on risks as information security and risk management are separate processes
  • C. Yes, information security reduces the impact of risks by eliminating the likelihood of exploitation of vulnerabilities by threats

Answer: A

Explanation:
Information security aims to protect information assets against threats and vulnerabilities that could lead to unauthorized access, disclosure, alteration, or destruction. By implementing effective security measures (such as access controls, encryption, and monitoring), an organization reduces the likelihood of vulnerabilities being exploited and mitigates the potential impact of risks. According to ISO/IEC 27005, risk management in information security includes identifying, assessing, and applying controls to reduce both the likelihood and impact of potential risks. Thus, option A is correct because it acknowledges the role of information security in reducing the impact of risks. Option B is incorrect because information security is a key component of risk management, and option C is incorrect because information security does not eliminate risks entirely; it mitigates their impact.


NEW QUESTION # 43
Scenario 5: Detika is a private cardiology clinic in Pennsylvania, the US. Detika has one of the most advanced healthcare systems for treating heart diseases. The clinic uses sophisticated apparatus that detects heart diseases in early stages. Since 2010, medical information of Detika's patients is stored on the organization's digital systems. Electronic health records (EHR), among others, include patients' diagnosis, treatment plan, and laboratory results.
Storing and accessing patient and other medical data digitally was a huge and a risky step for Detik a. Considering the sensitivity of information stored in their systems, Detika conducts regular risk assessments to ensure that all information security risks are identified and managed. Last month, Detika conducted a risk assessment which was focused on the EHR system. During risk identification, the IT team found out that some employees were not updating the operating systems regularly. This could cause major problems such as a data breach or loss of software compatibility. In addition, the IT team tested the software and detected a flaw in one of the software modules used. Both issues were reported to the top management and they decided to implement appropriate controls for treating the identified risks. They decided to organize training sessions for all employees in order to make them aware of the importance of the system updates. In addition, the manager of the IT Department was appointed as the person responsible for ensuring that the software is regularly tested.
Another risk identified during the risk assessment was the risk of a potential ransomware attack. This risk was defined as low because all their data was backed up daily. The IT team decided to accept the actual risk of ransomware attacks and concluded that additional measures were not required. This decision was documented in the risk treatment plan and communicated to the risk owner. The risk owner approved the risk treatment plan and documented the risk assessment results.
Following that, Detika initiated the implementation of new controls. In addition, one of the employees of the IT Department was assigned the responsibility for monitoring the implementation process and ensure the effectiveness of the security controls. The IT team, on the other hand, was responsible for allocating the resources needed to effectively implement the new controls.
Based on the scenario above, answer the following question:
Which risk treatment option did Detika select to treat the risk regarding the update of operating system?

  • A. Risk sharing
  • B. Risk retention
  • C. Risk modification

Answer: C

Explanation:
Risk modification (also known as risk mitigation) involves applying controls to reduce the likelihood or impact of a risk to an acceptable level. In the scenario, Detika decided to organize training sessions for employees to ensure that they regularly update the operating systems. This action is aimed at modifying or reducing the risk associated with not updating the operating systems, which could lead to security breaches or software incompatibility. Therefore, the risk treatment option chosen by Detika for the risk regarding the update of the operating system is risk modification. Option A is the correct answer.
Reference:
ISO/IEC 27005:2018, Clause 8.6, "Risk Treatment," which includes modifying risk by implementing controls to mitigate it.


NEW QUESTION # 44
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