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CRISC IT Risk Identification Practice Question

An organization is updating its IT risk universe. Which of the following is the MOST important factor to consider when defining the universe?

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

✓

All potential IT risks regardless of likelihood, including cyber, operational, compliance, third-party, project, and change risks

The risk universe should be comprehensive, covering all potential risks from various sources.

Answer analysis

Option-by-option breakdown

For each option: why learners choose it and why it is or isn't the right answer here.

  • ✗

    Historical loss data only

    Why it's wrong here

    Historical data is important but not sufficient; forward-looking risks must be included.

  • ✓

    All potential IT risks regardless of likelihood, including cyber, operational, compliance, third-party, project, and change risks

    Why this is correct

    The universe should be exhaustive to ensure no risks are overlooked.

  • ✗

    Risks that are within the current budget to mitigate

    Why it's wrong here

    Budget constraints should not limit the risk universe; it should include all risks.

  • ✗

    Only risks that have been realized in the past year

    Why it's wrong here

    Focusing only on realized risks ignores emerging threats.

About these practice questions

One of 983 original CRISC practice questions on Courseiva, each with a full explanation and wrong-answer analysis — not exam dumps or protected exam content. Learn why practice questions differ from exam dumps →

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JA

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.