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CRISC Practice Question: A large enterprise uses a risk matrix with impact…
A large enterprise uses a risk matrix with impact categories (very low, low, medium, high, very high) and likelihood (rare, unlikely, possible, likely, almost certain). A risk identified has a 'likely' likelihood and 'high' impact. According to the matrix, risks with this combination are classified as 'high' risk. The risk appetite statement requires that all high risks have a response plan within 30 days. However, the risk owner argues that due to effective compensating controls, the residual risk is only 'medium'. Which of the following is the BEST course of action?
Answer choices
Why each option matters
Answer the question above first, then reveal the full breakdown to understand why each option is right or wrong.
Correct answer & explanation
✓
Formalize the risk treatment plan and include the compensating controls in the risk register.
The best course of action is to formalize the risk treatment plan by documenting the compensating controls that reduce the residual risk to medium. This updates the risk register and provides a formal response plan within the required timeframe. Option B is unnecessary because additional controls are not needed if the residual risk is within the risk appetite. Option C is insufficient as acceptance without formal documentation does not meet the requirement for a response plan. Option D incorrectly suggests extending the deadline; the risk should be reclassified based on residual risk, but a formal plan is still needed.
Answer analysis
Option-by-option breakdown
For each option: why learners choose it and why it is or isn't the right answer here.
- ✓
Formalize the risk treatment plan and include the compensating controls in the risk register.
Why this is correct
Formalizing the risk treatment plan and including the compensating controls in the risk register is the best action. It documents the residual risk as medium and satisfies the requirement for a response plan within 30 days.
- ✗
Implement additional controls to ensure the residual risk becomes low.
Why it's wrong here
Implementing additional controls is unnecessary if the residual risk is already within the risk appetite. This action does not address the need to document the controls and the residual risk.
- ✗
Accept the risk as is, since controls reduce it to acceptable level.
Why it's wrong here
Accepting the risk as is without formal documentation does not meet the requirement that high risks have a response plan. The residual risk should be formally recorded.
- ✗
Document the residual risk as medium and extend the response deadline beyond 30 days.
Why it's wrong here
Documenting the residual risk as medium is appropriate, but extending the deadline is not necessary. Instead, a formal risk treatment plan should be documented, which can include the compensating controls.
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Written by Johnson Ajibi, MSc IT Security
Senior Network & Security Engineer · founder of Courseiva
This CRISC practice question is part of Courseiva's free ISACA certification practice question bank. Courseiva provides original exam-style practice questions with explanations, topic-based practice, mock exams, readiness tracking, and study analytics to help learners prepare for the CRISC exam.