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Exam CRISC topic 1 question 1136 discussion

Actual exam question from Isaca's CRISC
Question #: 1136
Topic #: 1
[All CRISC Questions]

Which of the following elements is MOST essential when creating risk scenarios?

  • A. Identified vulnerabilities
  • B. Business impact and cost analysis
  • C. Historical organizational and industry risk factors
  • D. A comprehensive control framework
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Suggested Answer: B 🗳️

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mynk29
3 months, 3 weeks ago
Selected Answer: A
Risk scenario deals with Business impact but not with cost, cost comes during risk assessment. Vulnerability is however key component of Risk scenario development so A has my vote.
upvoted 1 times
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CbtL
4 months, 3 weeks ago
Selected Answer: B
I think this one is testing on threat scenario versus risk scenario. In the 7th edition review manual, the distinction between a threat scenario and a risk scenario was the addition of frequency and loss magnitude (likelihood and impact). 7th edition review manual, pg 92 and 109. The loss magnitude indicates financial impact.
upvoted 1 times
CbtL
4 months, 3 weeks ago
Sorry, so I am going with B for this one.
upvoted 1 times
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Koulyo
5 months, 1 week ago
I Approve C
upvoted 1 times
Koulyo
5 months, 1 week ago
It is more comprehensive as it considers internal and external elements.
upvoted 1 times
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john_boogieman
6 months, 2 weeks ago
Selected Answer: A
Agree.
upvoted 1 times
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john_boogieman
6 months, 2 weeks ago
Sorry, 'A', reason: Identified vulnerabilities refer to specific weaknesses or gaps in an organization's systems or processes that can be exploited by potential threats, such as cyber attacks, natural disasters, or financial fraud. By identifying these vulnerabilities and analyzing the potential impact and likelihood of different scenarios, organizations can develop effective risk management strategies to mitigate potential risks.
upvoted 1 times
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john_boogieman
7 months, 2 weeks ago
Selected Answer: B
The least bad option is B. Vulnerabilities and historical risk factors are important, but those known to have an impact on the business are even more so.
upvoted 3 times
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GRamos
8 months, 2 weeks ago
The answer is A.... You can not create risk scenarios without knowing the threats and vulnerabilities.
upvoted 1 times
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Suchib
8 months, 2 weeks ago
Prefer to go with C
upvoted 1 times
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blokey
9 months, 2 weeks ago
why not c?
upvoted 1 times
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Community vote distribution
A (35%)
C (25%)
B (20%)
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