- A
Likelihood
Likelihood is one dimension of risk.
- B
Impact
Impact is the other dimension of risk.
- C
Risk appetite
Why wrong: Risk appetite determines acceptability, not rating.
- D
Cost of mitigation
Why wrong: Cost is not part of the risk rating calculation.
- E
Control effectiveness
Why wrong: Control effectiveness is used for residual risk, not inherent risk rating.
Question 368 of 1,000
CRISC IT Risk Assessment Practice Question
This CRISC practice question tests your understanding of it risk assessment. Read the scenario carefully and evaluate each option against the stated constraints before committing to an answer. After answering, compare your reasoning against the explanation and wrong-answer breakdown below. Once you have made your selection, read the full explanation to reinforce the concept and understand why each distractor is designed to mislead on exam day.
In a qualitative risk assessment, which TWO elements are typically used to determine the risk rating?
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
✓
Likelihood
In a qualitative risk assessment, risk rating is determined by combining the likelihood of a threat occurring with the impact of that threat on business objectives. Likelihood (A) and impact (B) are the two fundamental elements used in a risk matrix to assign a qualitative rating such as high, medium, or low. This approach relies on subjective judgment rather than numerical data, making it suitable for scenarios where precise quantification is not feasible.
Key principle: Answer the scenario, not the keyword: identify the specific constraint before choosing the most familiar-sounding option.
Answer analysis
Option-by-option breakdown
For each option: why learners choose it and why it is or isn't the right answer here.
- ✓
Likelihood
Why this is correct
Likelihood is one dimension of risk.
Related concept
Read the scenario before looking for a memorised answer.
- ✓
Impact
Why this is correct
Impact is the other dimension of risk.
Related concept
Read the scenario before looking for a memorised answer.
- ✗
Risk appetite
Why it's wrong here
Risk appetite determines acceptability, not rating.
- ✗
Cost of mitigation
Why it's wrong here
Cost is not part of the risk rating calculation.
- ✗
Control effectiveness
Why it's wrong here
Control effectiveness is used for residual risk, not inherent risk rating.
Common exam traps
Common exam trap: answer the scenario, not the keyword
The trap here is that candidates often confuse the inputs for inherent risk rating (likelihood and impact) with factors used in residual risk calculation or risk treatment decisions, such as control effectiveness or cost of mitigation.
Detailed technical explanation
How to think about this question
Under the hood, qualitative risk assessment typically uses a 3x3 or 5x5 matrix where likelihood and impact are assigned ordinal values (e.g., 1-5) and then multiplied or mapped to a risk rating. For example, in ISO 31000, the risk level is often expressed as a product of consequence and probability, but in qualitative terms, this is done via expert judgment and predefined scales. A real-world scenario is a financial institution assessing the risk of a new online banking feature, where the risk rating of 'high' from a 4x4 matrix triggers mandatory board-level review.
KKey Concepts to Remember
- Read the scenario before looking for a memorised answer.
- Find the constraint that changes the correct option.
- Eliminate answers that are true in general but not in this case.
TExam Day Tips
- Watch for words such as best, first, most likely and least administrative effort.
- Review why wrong options are wrong, not only why the correct option is correct.
Key takeaway
Answer the scenario, not the keyword: identify the specific constraint before choosing the most familiar-sounding option.
Real-world example
How this comes up in practice
A practitioner preparing for the CRISC exam encounters this exact type of scenario on the job. The correct answer here is not the most general option — it is the best answer for the specific constraint described. Answer the scenario, not the keyword: identify the specific constraint before choosing the most familiar-sounding option. Real exam questions reward reading the full scenario before eliminating options, because the constraint defines which answer fits.
What to study next
Got this wrong? Here's your next step.
Identify which exam domain this question belongs to, review the core concept, then practise similar questions from the same domain.
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FAQ
Questions learners often ask
What does this CRISC question test?
IT Risk Assessment — This question tests IT Risk Assessment — Read the scenario before looking for a memorised answer..
What is the correct answer to this question?
The correct answer is: Likelihood — In a qualitative risk assessment, risk rating is determined by combining the likelihood of a threat occurring with the impact of that threat on business objectives. Likelihood (A) and impact (B) are the two fundamental elements used in a risk matrix to assign a qualitative rating such as high, medium, or low. This approach relies on subjective judgment rather than numerical data, making it suitable for scenarios where precise quantification is not feasible.
What should I do if I get this CRISC question wrong?
Identify which exam domain this question belongs to, review the core concept, then practise similar questions from the same domain.
What is the key concept behind this question?
Read the scenario before looking for a memorised answer.
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Last reviewed: Jul 4, 2026
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.
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