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Components of an IT Risk Assessment Report — ISACA Guidelines
Which THREE of the following are key components of an IT risk assessment report as per ISACA guidelines?
Quick Answer
The answer is recommended risk response options, along with identified risk scenarios and their associated risk levels, as key components of an IT risk assessment report per ISACA guidelines. This is correct because ISACA’s CRISC framework mandates that a risk assessment report must document specific threats, vulnerabilities, and the resulting inherent risk ratings—often visualized through a 5x5 risk matrix—to provide a clear picture of the risk landscape. On the Certified in Risk and Information Systems Control exam, this concept tests your ability to distinguish between the report’s core outputs (risk scenarios, levels, and response options) versus supporting artifacts like control descriptions or audit logs, which are common traps. A frequent memory tip is to remember the “three R’s” of the report: Risks identified, Ratings assigned, and Responses recommended.
⚠ Common exam trap
Candidates often confuse the risk assessment report with the risk treatment plan or control testing report, leading them to select options like cost-benefit analysis or detailed control testing results, which are not core components of the risk assessment report per ISACA guidelines.
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
✓
Identified risk scenarios and their risk levels
An IT risk assessment report, per ISACA guidelines, must include identified risk scenarios and their associated risk levels. This is a core component that documents the specific threats, vulnerabilities, and the resulting inherent risk ratings (e.g., using a 5x5 risk matrix) to provide a clear picture of the risk landscape.
Answer analysis
Option-by-option breakdown
For each option: why learners choose it and why it is or isn't the right answer here.
- ✗
Detailed results of control testing
Why it's wrong here
Control testing results are part of control assessments.
- ✗
Cost-benefit analysis of risk responses
Why it's wrong here
Cost-benefit analysis is performed during risk response selection.
- ✓
Identified risk scenarios and their risk levels
Why this is correct
Risk scenarios and levels are core to the assessment report.
- ✓
Residual risk after implementing controls
Why this is correct
Residual risk is a key output.
- ✓
Recommended risk response options
Why this is correct
Recommendations are part of the report.
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About these practice questions
This CRISC question is part of Courseiva's 983-question bank — original exam-style content with full explanations and wrong-answer analysis, never real exam questions or exam dumps. Learn why practice questions differ from exam dumps →
Same concept, more angles
1 more way this is tested on CRISC
These questions test the same concept from different angles. Work through them to make sure you can recognise it however the exam phrases it.
Variation 1. Which THREE of the following are key components of a risk assessment report?
medium- ✓ A.Risk register with identified risks
- B.Copies of vendor contracts
- ✓ C.Recommended risk response actions
- D.Network topology diagram
- ✓ E.Risk analysis (likelihood and impact)
Why A: A risk register is a core component of a risk assessment report because it formally documents each identified risk, its owner, status, and tracking information. This register serves as the authoritative record that links risk identification to subsequent analysis and response activities, ensuring traceability throughout the risk management lifecycle.
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.