Free Preparation Discussions
MENU
PECB Certified ISO/IEC 27005 Risk Manager Exam Questions
- Topic 1: Introduction to ISO/IEC 27005 and Risk Management: This part of the exam measures the expertise of professionals like Information Security Managers, Risk Managers, and IT Security Specialists. It covers the core concepts of risk management as defined by the ISO/IEC 27005 standard.
- Topic 2: Risk Assessment, Risk Treatment, and Risk Communication and Consultation Based on ISO/IEC 27005: This section tests the competencies of Security Analysts, IT Managers, and Risk Consultants in carrying out detailed risk assessments and treatment plans. The emphasis is on applying the ISO/IEC 27005 framework to identify, analyze, and assess risks, along with formulating effective risk treatment strategies.
- Topic 3: Risk Recording and Reporting, Monitoring and Review, and Risk Assessment Methods: This segment is tailored for Risk Managers, Compliance Officers, and Information Security Officers. It underscores the critical nature of documenting, monitoring, and reviewing risks to ensure the ongoing effectiveness of risk management processes.
Free PECB PECB Certified ISO/IEC 27005 Risk Manager Exam Actual Questions
Note: Premium Questions for PECB Certified ISO/IEC 27005 Risk Manager were last updated On Sep. 04, 2024 (see below)
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.
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.
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.
According to CRAMM methodology, how is risk assessment initiated?
According to the CRAMM (CCTA Risk Analysis and Management Method) methodology, risk assessment begins by collecting detailed information on the system and identifying all assets that fall within the defined scope. This foundational step ensures that the assessment is comprehensive and includes all relevant assets, which could be potential targets for risk. This makes option A the correct answer.
Which activity below is NOT included in the information security risk assessment process?
The information security risk assessment process, as outlined in ISO/IEC 27005, typically includes identifying risks, assessing their potential impact, and prioritizing them. However, selecting risk treatment options is not part of the risk assessment process itself; it is part of the subsequent risk treatment phase. Therefore, option C is the correct answer as it is not included in the risk assessment process.
Based on NIST Risk Management Framework, what is the last step of a risk management process?
Based on the NIST Risk Management Framework (RMF), the last step of the risk management process is 'Monitoring Security Controls.' This step involves continuously tracking the effectiveness of the implemented security controls, ensuring they remain effective against identified risks, and adapting them to any changes in the threat landscape. Option A correctly identifies the final step.
After creating a plan for outsourcing to a cloud service provider to store their confidential information in cloud, OrgX decided to not pursue this business strategy since the risk of doing so was high. Which risk treatment option did OrgX use?
OrgX decided not to pursue a business strategy involving outsourcing to a cloud service provider due to the high risk. This decision reflects a 'risk avoidance' strategy, where the organization chooses not to engage in an activity that poses unacceptable risks. This aligns with option A.
- Select Question Types you want
- Set your Desired Pass Percentage
- Allocate Time (Hours : Minutes)
- Create Multiple Practice tests with Limited Questions
- Customer Support
Kattie
5 days agoCorinne
5 days agoMelynda
5 days ago