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PECB ISO-IEC-27005-Risk-Manager Exam Questions
- 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.
Free PECB ISO-IEC-27005-Risk-Manager Exam Actual Questions
Note: Premium Questions for ISO-IEC-27005-Risk-Manager were last updated On Jul. 23, 2026 (see below)
Does information security reduce the impact of risks?
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.
Which of the following risk assessment methods provides an information security risk assessment methodology and involves three phases build asset-based threat profiles, identify infrastructure vulnerabilities, and develop security strategy and plans?
OCTAVE-S (Operationally Critical Threat, Asset, and Vulnerability Evaluation for Small Organizations) is a risk assessment methodology tailored for small organizations. It provides a structured approach for identifying and managing information security risks. The OCTAVE-S method involves three main phases:
Building asset-based threat profiles, where critical assets and their associated threats are identified.
Identifying infrastructure vulnerabilities by assessing the organization's technological infrastructure for weaknesses that could be exploited by threats.
Developing security strategy and plans to address the identified risks and improve the overall security posture.
The OCTAVE-S method aligns with the description provided in the question, making it the correct answer. MEHARI and TRA are other risk assessment methods, but they do not specifically follow the three phases outlined above.
Scenario 1
The risk assessment process was led by Henry, Bontton's risk manager. The first step that Henry took was identifying the company's assets. Afterward, Henry created various potential incident scenarios. One of the main concerns regarding the use of the application was the possibility of being targeted by cyber attackers, as a great number of organizations were experiencing cyberattacks during that time. After analyzing the identified risks, Henry evaluated them and concluded that new controls must be implemented if the company wants to use the application. Among others, he stated that training should be provided to personnel regarding the use of the application and that awareness sessions should be conducted regarding the importance of protecting customers' personal data.
Lastly, Henry communicated the risk assessment results to the top management. They decided that the application will be used only after treating the identified risks.
Based on scenario 1, Bontton used ISO/IEC 27005 to ensure effective implementation of all ISO/IEC 27001 requirements. Is this appropriate?
ISO/IEC 27005 is an international standard specifically focused on providing guidelines for information security risk management within the context of an organization's overall Information Security Management System (ISMS). It does not provide direct guidance on implementing the specific requirements of ISO/IEC 27001, which is a standard for establishing, implementing, maintaining, and continually improving an ISMS. Instead, ISO/IEC 27005 provides a framework for managing risks that could affect the confidentiality, integrity, and availability of information assets. Therefore, while ISO/IEC 27005 supports the risk management process that is crucial for compliance with ISO/IEC 27001, it does not contain specific guidelines or methodologies for implementing all the requirements of ISO/IEC 27001. This makes option C the correct answer.
ISO/IEC 27005:2018, 'Information Security Risk Management,' which emphasizes risk management guidance rather than direct implementation of ISO/IEC 27001 requirements.
ISO/IEC 27001:2013, Clause 6.1.2, 'Information Security Risk Assessment,' where risk assessment and treatment options are outlined but not in a prescriptive manner found in ISO/IEC 27005.
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 Travivve's risk management team identify the basic requirements of interested parties in accordance with the guidelines of ISO/IEC 27005? Refer to scenario 2.
According to ISO/IEC 27005, understanding the organization and its context, including the identification of interested parties and their requirements, is a critical part of the risk management process. The team at Travivve identified the interested parties and their basic requirements and determined the status of compliance with these requirements, which aligns with the guidelines provided by ISO/IEC 27005. This standard recommends that organizations should understand their context and stakeholders' requirements to effectively manage risks. Additionally, it is appropriate to evaluate compliance with requirements as part of the context analysis, rather than after implementing risk treatment options. Therefore, the team's approach was in accordance with ISO/IEC 27005, making option C the correct answer.
ISO/IEC 27005:2018, Clause 7, 'Context Establishment,' which outlines the importance of identifying the context, including the interested parties and their requirements, as a basis for risk management.
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.
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