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PECB ISO-IEC-27005-Risk-Manager Dump Torrent, ISO-IEC-27005-Risk-Manager Reliable Exam Papers

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PECB Certified ISO/IEC 27005 Risk Manager Sample Questions (Q45-Q50):

NEW QUESTION # 45
Scenario 6: Productscape is a market research company headquartered in Brussels, Belgium. It helps organizations understand the needs and expectations of their customers and identify new business opportunities. Productscape's teams have extensive experience in marketing and business strategy and work with some of the best-known organizations in Europe. The industry in which Productscape operates requires effective risk management. Considering that Productscape has access to clients' confidential information, it is responsible for ensuring its security. As such, the company conducts regular risk assessments. The top management appointed Alex as the risk manager, who is responsible for monitoring the risk management process and treating information security risks.
The last risk assessment conducted was focused on information assets. The purpose of this risk assessment was to identify information security risks, understand their level, and take appropriate action to treat them in order to ensure the security of their systems. Alex established a team of three members to perform the risk assessment activities. Each team member was responsible for specific departments included in the risk assessment scope. The risk assessment provided valuable information to identify, understand, and mitigate the risks that Productscape faces.
Initially, the team identified potential risks based on the risk identification results. Prior to analyzing the identified risks, the risk acceptance criteria were established. The criteria for accepting the risks were determined based on Productscape's objectives, operations, and technology. The team created various risk scenarios and determined the likelihood of occurrence as "low," "medium," or "high." They decided that if the likelihood of occurrence for a risk scenario is determined as "low," no further action would be taken. On the other hand, if the likelihood of occurrence for a risk scenario is determined as "high" or "medium," additional controls will be implemented. Some information security risk scenarios defined by Productscape's team were as follows:
1. A cyber attacker exploits a security misconfiguration vulnerability of Productscape's website to launch an attack, which, in turn, could make the website unavailable to users.
2. A cyber attacker gains access to confidential information of clients and may threaten to make the information publicly available unless a ransom is paid.
3. An internal employee clicks on a link embedded in an email that redirects them to an unsecured website, installing a malware on the device.
The likelihood of occurrence for the first risk scenario was determined as "medium." One of the main reasons that such a risk could occur was the usage of default accounts and password. Attackers could exploit this vulnerability and launch a brute-force attack. Therefore, Productscape decided to start using an automated "build and deploy" process which would test the software on deploy and minimize the likelihood of such an incident from happening. However, the team made it clear that the implementation of this process would not eliminate the risk completely and that there was still a low possibility for this risk to occur. Productscape documented the remaining risk and decided to monitor it for changes.
The likelihood of occurrence for the second risk scenario was determined as "medium." Productscape decided to contract an IT company that would provide technical assistance and monitor the company's systems and networks in order to prevent such incidents from happening.
The likelihood of occurrence for the third risk scenario was determined as "high." Thus, Productscape decided to include phishing as a topic on their information security training sessions. In addition, Alex reviewed the controls of Annex A of ISO/IEC 27001 in order to determine the necessary controls for treating this risk. Alex decided to implement control A.8.23 Web filtering which would help the company to reduce the risk of accessing unsecure websites. Although security controls were implemented to treat the risk, the level of the residual risk still did not meet the risk acceptance criteria defined in the beginning of the risk assessment process. Since the cost of implementing additional controls was too high for the company, Productscape decided to accept the residual risk. Therefore, risk owners were assigned the responsibility of managing the residual risk.
Which risk treatment option was used for the second risk scenario? Refer to scenario 6.

A. Risk sharing
B. Risk avoidance
C. Risk retention

Answer: A

Explanation:
Risk sharing, also known as risk transfer, involves sharing the risk with another party, such as through insurance or outsourcing certain activities to third-party vendors. In Scenario 6, Productscape decided to contract an IT company to provide technical assistance and monitor the company's systems and networks to prevent incidents related to the second risk scenario (gaining access to confidential information and threatening to make it public unless a ransom is paid). This is an example of risk sharing because Productscape transferred part of the risk management responsibilities to an external company. Thus, the correct answer is C, Risk sharing.
Reference:
ISO/IEC 27005:2018, Clause 8.6, "Risk Treatment," which includes risk sharing as an option where a third party is used to manage specific risks.

NEW QUESTION # 46
Scenario 8: Biotide is a pharmaceutical company that produces medication for treating different kinds of diseases. The company was founded in 1997, and since then it has contributed in solving some of the most challenging healthcare issues.
As a pharmaceutical company, Biotide operates in an environment associated with complex risks. As such, the company focuses on risk management strategies that ensure the effective management of risks to develop high-quality medication. With the large amount of sensitive information generated from the company, managing information security risks is certainly an important part of the overall risk management process. Biotide utilizes a publicly available methodology for conducting risk assessment related to information assets. This methodology helps Biotide to perform risk assessment by taking into account its objectives and mission. Following this method, the risk management process is organized into four activity areas, each of them involving a set of activities, as provided below.
1. Activity area 1: The organization determines the criteria against which the effects of a risk occurring can be evaluated. In addition, the impacts of risks are also defined.
2. Activity area 2: The purpose of the second activity area is to create information asset profiles. The organization identifies critical information assets, their owners, as well as the security requirements for those assets. After determining the security requirements, the organization prioritizes them. In addition, the organization identifies the systems that store, transmit, or process information.
3. Activity area 3: The organization identifies the areas of concern which initiates the risk identification process. In addition, the organization analyzes and determines the probability of the occurrence of possible threat scenarios.
4. Activity area 4: The organization identifies and evaluates the risks. In addition, the criteria specified in activity area 1 is reviewed and the consequences of the areas of concerns are evaluated. Lastly, the level of identified risks is determined.
The table below provides an example of how Biotide assesses the risks related to its information assets following this methodology:

Based on scenario 8, how should Biotide use the criteria defined in the activity area 1?

A. To identify the assets on which information is stored
B. To determine the probability of threat scenarios
C. To evaluate the potential impact of the risk on Biotide's objectives

Answer: C

Explanation:
According to ISO/IEC 27005, which provides guidelines for information security risk management, the criteria defined in Activity Area 1 are used to establish the foundation for evaluating the effects of a risk event on an organization's objectives. This is the first step in the risk management process, where the organization must identify its risk evaluation criteria, including the impact levels and their corresponding definitions.
In the context of Biotide, Activity Area 1 involves determining the criteria against which the effects of a risk occurring can be evaluated and defining the impacts of those risks. This directly aligns with ISO/IEC 27005 guidance, where the purpose of setting criteria is to ensure that the potential impact of any risk on the organization's objectives, such as reputation, customer confidence, and legal implications, is comprehensively understood and appropriately managed.
Option A, "To evaluate the potential impact of the risk on Biotide's objectives," is correct because it accurately describes the purpose of defining such criteria: to provide a consistent basis for assessing how various risk scenarios might affect the organization's ability to meet its strategic and operational goals.
Options B and C, which focus on identifying assets or determining the probability of threats, are related to later stages in the risk management process (specifically, Activities 2 and 3), where information assets are profiled and potential threat scenarios are analyzed. Therefore, these do not correspond to the initial criteria definition purpose outlined in Activity Area 1.

NEW QUESTION # 47
Scenario 4: In 2017, seeing that millions of people turned to online shopping, Ed and James Cordon founded the online marketplace for footwear called Poshoe. In the past, purchasing pre-owned designer shoes online was not a pleasant experience because of unattractive pictures and an inability to ascertain the products' authenticity. However, after Poshoe's establishment, each product was well advertised and certified as authentic before being offered to clients. This increased the customers' confidence and trust in Poshoe's products and services. Poshoe has approximately four million users and its mission is to dominate the second-hand sneaker market and become a multi-billion dollar company.
Due to the significant increase of daily online buyers, Poshoe's top management decided to adopt a big data analytics tool that could help the company effectively handle, store, and analyze dat a. Before initiating the implementation process, they decided to conduct a risk assessment. Initially, the company identified its assets, threats, and vulnerabilities associated with its information systems. In terms of assets, the company identified the information that was vital to the achievement of the organization's mission and objectives. During this phase, the company also detected a rootkit in their software, through which an attacker could remotely access Poshoe's systems and acquire sensitive data.
The company discovered that the rootkit had been installed by an attacker who had gained administrator access. As a result, the attacker was able to obtain the customers' personal data after they purchased a product from Poshoe. Luckily, the company was able to execute some scans from the target device and gain greater visibility into their software's settings in order to identify the vulnerability of the system.
The company initially used the qualitative risk analysis technique to assess the consequences and the likelihood and to determine the level of risk. The company defined the likelihood of risk as "a few times in two years with the probability of 1 to 3 times per year." Later, it was decided that they would use a quantitative risk analysis methodology since it would provide additional information on this major risk. Lastly, the top management decided to treat the risk immediately as it could expose the company to other issues. In addition, it was communicated to their employees that they should update, secure, and back up Poshoe's software in order to protect customers' personal information and prevent unauthorized access from attackers.
According to scenario 4, Poshoe has identified its assets, vulnerabilities, and threats associated with its information systems. What does the company need in order to start identifying its existing controls?

A. A list of all existing and planned controls
B. A list of incident scenarios with their consequences
C. The risk treatment implementation plan and documentation of controls

Answer: A

Explanation:
To start identifying its existing controls, Poshoe needs a list of all existing and planned controls. This list will provide the necessary baseline to understand what security measures are already in place and what measures are planned to mitigate risks. This helps in determining gaps, evaluating the effectiveness of current controls, and identifying areas requiring improvement. Option A (The risk treatment implementation plan and documentation of controls) is incorrect because it is too specific and assumes a level of completion not indicated in the scenario. Option C (A list of incident scenarios with their consequences) is incorrect as it pertains to the analysis phase of risk management, not the identification of existing controls.

NEW QUESTION # 48
Scenario 3: Printary is an American company that offers digital printing services. Creating cost-effective and creative products, the company has been part of the printing industry for more than 30 years. Three years ago, the company started to operate online, providing greater flexibility for its clients. Through the website, clients could find information about all services offered by Printary and order personalized products. However, operating online increased the risk of cyber threats, consequently, impacting the business functions of the company. Thus, along with the decision of creating an online business, the company focused on managing information security risks. Their risk management program was established based on ISO/IEC 27005 guidelines and industry best practices.
Last year, the company considered the integration of an online payment system on its website in order to provide more flexibility and transparency to customers. Printary analyzed various available solutions and selected Pay0, a payment processing solution that allows any company to easily collect payments on their website. Before making the decision, Printary conducted a risk assessment to identify and analyze information security risks associated with the software. The risk assessment process involved three phases: identification, analysis, and evaluation. During risk identification, the company inspected assets, threats, and vulnerabilities. In addition, to identify the information security risks, Printary used a list of the identified events that could negatively affect the achievement of information security objectives. The risk identification phase highlighted two main threats associated with the online payment system: error in use and data corruption After conducting a gap analysis, the company concluded that the existing security controls were sufficient to mitigate the threat of data corruption. However, the user interface of the payment solution was complicated, which could increase the risk associated with user errors, and, as a result, impact data integrity and confidentiality.
Subsequently, the risk identification results were analyzed. The company conducted risk analysis in order to understand the nature of the identified risks. They decided to use a quantitative risk analysis methodology because it would provide more detailed information. The selected risk analysis methodology was consistent with the risk evaluation criteri a. Firstly, they used a list of potential incident scenarios to assess their potential impact. In addition, the likelihood of incident scenarios was defined and assessed. Finally, the level of risk was defined as low.
In the end, the level of risk was compared to the risk evaluation and acceptance criteria and was prioritized accordingly.
Which of the following situations indicates that Printary identified consequences of risk scenarios? Refer to scenario 3.

A. Printary concluded that the complicated user interface could increase the risk of user error and impact data integrity and confidentiality
B. Printary identified two main threats associated with the online payment system: error in use and corruption of data
C. Printary used the list of potential incident scenarios and assessed their impact on company's information security

Answer: C

Explanation:
According to ISO/IEC 27005, the risk management process involves identifying, analyzing, and evaluating risks in a structured manner. Specifically, risk identification entails recognizing potential threats, vulnerabilities, and consequences to information assets. Once risks are identified, ISO/IEC 27005 emphasizes the importance of risk analysis, where risks are assessed in terms of their potential consequences and likelihood.
In the scenario, Printary followed this structured approach, aligning with the ISO/IEC 27005 framework. First, they identified the threats associated with the online payment system, which were categorized as user errors and data corruption. However, identification of threats alone does not equate to identifying the consequences of risk scenarios, as required by the risk analysis phase in ISO/IEC 27005.
The key to recognizing that Printary identified the consequences lies in the fact that they "used the list of potential incident scenarios and assessed their impact on the company's information security." This directly corresponds to ISO/IEC 27005's guidelines on risk analysis, where organizations must evaluate both the likelihood and the impact (consequences) of potential incidents on their assets. In other words, by assessing the impact of the incident scenarios, Printary is analyzing the consequences of the identified risks, which is a crucial step in the risk analysis process.
Option A refers to identifying a risk (user error leading to compromised data integrity and confidentiality), but this does not constitute a comprehensive analysis of the risk's consequences as per ISO/IEC 27005. Similarly, Option C highlights the identification of threats, but the threats themselves are not the consequences of risk scenarios.
Thus, Option B is the most accurate as it reflects Printary's alignment with ISO/IEC 27005 guidelines in assessing the potential consequences of risk scenarios by evaluating their impact on the company's information security.

NEW QUESTION # 49
Scenario 4: In 2017, seeing that millions of people turned to online shopping, Ed and James Cordon founded the online marketplace for footwear called Poshoe. In the past, purchasing pre-owned designer shoes online was not a pleasant experience because of unattractive pictures and an inability to ascertain the products' authenticity. However, after Poshoe's establishment, each product was well advertised and certified as authentic before being offered to clients. This increased the customers' confidence and trust in Poshoe's products and services. Poshoe has approximately four million users and its mission is to dominate the second-hand sneaker market and become a multi-billion dollar company.
Due to the significant increase of daily online buyers, Poshoe's top management decided to adopt a big data analytics tool that could help the company effectively handle, store, and analyze dat a. Before initiating the implementation process, they decided to conduct a risk assessment. Initially, the company identified its assets, threats, and vulnerabilities associated with its information systems. In terms of assets, the company identified the information that was vital to the achievement of the organization's mission and objectives. During this phase, the company also detected a rootkit in their software, through which an attacker could remotely access Poshoe's systems and acquire sensitive data.
The company discovered that the rootkit had been installed by an attacker who had gained administrator access. As a result, the attacker was able to obtain the customers' personal data after they purchased a product from Poshoe. Luckily, the company was able to execute some scans from the target device and gain greater visibility into their software's settings in order to identify the vulnerability of the system.
The company initially used the qualitative risk analysis technique to assess the consequences and the likelihood and to determine the level of risk. The company defined the likelihood of risk as "a few times in two years with the probability of 1 to 3 times per year." Later, it was decided that they would use a quantitative risk analysis methodology since it would provide additional information on this major risk. Lastly, the top management decided to treat the risk immediately as it could expose the company to other issues. In addition, it was communicated to their employees that they should update, secure, and back up Poshoe's software in order to protect customers' personal information and prevent unauthorized access from attackers.
According to scenario 4, the top management of Poshoe decided to treat the risk immediately after conducting the risk analysis. Is this in compliance with risk management best practices?

A. No, risk evaluation should be performed before making any decision regarding risk treatment
B. No, the risk should be communicated to all the interested parties before making any decision regarding risk treatment
C. Yes. risk treatment options should be implemented immediately after analyzing the risk, as the risk could expose the company to other security threats

Answer: A

Explanation:
According to ISO/IEC 27005, after conducting risk analysis, the next step in the risk management process should be risk evaluation. Risk evaluation involves comparing the estimated level of risk against risk criteria established by the organization to determine the significance of the risk and decide whether it is acceptable or needs treatment. Only after evaluating the risk should an organization decide on the appropriate risk treatment options. Therefore, in the scenario, deciding to treat the risk immediately after conducting the risk analysis, without first performing a risk evaluation, is not in compliance with risk management best practices. Option A is the correct answer.
Reference:
ISO/IEC 27005:2018, Clause 8.5, "Risk Evaluation," which describes the process of evaluating risks after analysis to determine if they require treatment.

NEW QUESTION # 50
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