Smartly Prepare Exam with Free Online ISO-IEC-27005-Risk-Manager Practice Test

Scenario 3: Printary is an American company that offers digital printing services. Creating cost-effective and

creative products, the company has been part of the printing industry for more than 30 years. Three years ago,

the company started to operate online, providing greater flexibility for its clients. Through the website, clients

could find information about all services offered by Printary and order personalized products. However,

operating online increased the risk of cyber threats, consequently, impacting the business functions of the

company. Thus, along with the decision of creating an online business, the company focused on managing

information security risks. Their risk management program was established based on ISO/IEC 27005

guidelines and industry best practices.

Last year, the company considered the integration of an online payment system on its website in order to

provide more flexibility and transparency to customers. Printary analyzed various available solutions and

selected Pay0, a payment processing solution that allows any company to easily collect payments on their

website. Before making the decision, Printary conducted a risk assessment to identify and analyze information

security risks associated with the software. The risk assessment process involved three phases: identification,

analysis, and evaluation. During risk identification, the company inspected assets, threats, and vulnerabilities.

In addition, to identify the information security risks, Printary used a list of the identified events that could

negatively affect the achievement of information security objectives. The risk identification phase highlighted

two main threats associated with the online payment system: error in use and data corruption After conducting

a gap analysis, the company concluded that the existing security controls were sufficient to mitigate the threat

of data corruption. However, the user interface of the payment solution was complicated, which could

increase the risk associated with user errors, and, as a result, impact data integrity and confidentiality.

Subsequently, the risk identification results were analyzed. The company conducted risk analysis in order to

understand the nature of the identified risks. They decided to use a quantitative risk analysis methodology

because it would provide more detailed information. The selected risk analysis methodology was consistent

with the risk evaluation criteria. Firstly, they used a list of potential incident scenarios to assess their potential

impact. In addition, the likelihood of incident scenarios was defined and assessed. Finally, the level of risk

was defined as low.

In the end, the level of risk was compared to the risk evaluation and acceptance criteria and was prioritized

accordingly.

Based on the scenario above, answer the following question:

What type of risk identification approach did Printary use?

Scenario 7: Adstry is a business growth agency that specializes in digital marketing strategies. Adstry helps

organizations redefine the relationships with their customers through innovative solutions. Adstry is

headquartered in San Francisco and recently opened two new offices in New York. The structure of the

company is organized into teams which are led by project managers. The project manager has the full power

in any decision related to projects. The team members, on the other hand, report the project’s progress to

project managers.

Considering that data breaches and ad fraud are common threats in the current business environment,

managing risks is essential for Adstry. When planning new projects, each project manager is responsible for

ensuring that risks related to a particular project have been identified, assessed, and mitigated. This means that

project managers have also the role of the risk manager in Adstry. Taking into account that Adstry heavily

relies on technology to complete their projects, their risk assessment certainly involves identification of risks

associated with the use of information technology. At the earliest stages of each project, the project manager

communicates the risk assessment results to its team members.

Adstry uses a risk management software which helps the project team to detect new potential risks during

each phase of the project. This way, team members are informed in a timely manner for the new potential

risks and are able to respond to them accordingly. The project managers are responsible forensuring that the

information provided to the team members is communicated using an appropriate language so it can be

understood by all of them.

In addition, the project manager may include external interested parties affected by the project in the risk

communication. If the project manager decides to include interested parties, the risk communication is

thoroughly prepared. The project manager firstly identifies the interested parties that should be informed and

takes into account their concerns and possible conflicts that may arise due to risk communication. The risks

are communicated to the identified interested parties while taking into consideration the confidentiality of

Adstry’s information and determining the level of detail that should be included in the risk communication.

The project managers use the same risk management software for risk communication with external interested

parties since it provides a consistent view of risks. For each project, the project manager arranges regular

meetings with relevant interested parties of the project, they discuss the detected risks, their prioritization, and

determine appropriate treatment solutions. The information taken from the risk management software and the

results of these meetings are documented and are used for decision-making processes. In addition, the

company uses a computerized documented information management system for the acquisition, classification,

storage, and archiving of its documents.

Based on scenario 7, which principle of efficient communication strategy Adstry’s project managers follow

when communicating risks to team members?

Which activity below is NOT included in the information security risk assessment process? 

Which statement regarding information gathering techniques is correct? 

Scenario 5: Detika is a private cardiology clinic in Pennsylvania, the US. Detika has one of the most advanced

healthcare systems for treating heart diseases. The clinic uses sophisticated apparatus that detects heart

diseases in early stages. Since 2010, medical information of Detika’s patients is stored on the organization’s

digital systems. Electronic health records (EHR), among others, include patients’ diagnosis, treatment plan,

and laboratory results.

Storing and accessing patient and other medical data digitally was a huge and a risky step for Detika.

Considering the sensitivity of information stored in their systems, Detika conducts regular risk assessments to

ensure that all information security risks are identified and managed. Last month, Detika conducted a risk

assessment which was focused on the EHR system. During risk identification, the IT team found out that

some employees were not updating the operating systems regularly. This could cause major problems such as

a data breach or loss of software compatibility. In addition, the IT team tested the software and detected a

flaw in one of the software modules used. Both issues were reported to the top management and they decided

to implement appropriate controls for treating the identified risks. They decided to organize training sessions

for all employees in order to make them aware of the importance of the system updates. In addition, the

manager of the IT Department was appointed as the person responsible for ensuring that the software is

regularly tested.

Another risk identified during the risk assessment was the risk of a potential ransomware attack. This risk was

defined as low because all their data was backed up daily. The IT team decided to accept the actual risk of

ransomware attacks and concluded that additional measures were not required. This decision was documented

in the risk treatment plan and communicated to the risk owner. The risk owner approved the risk treatment

plan and documented the risk assessment results.

Following that, Detika initiated the implementation of new controls. In addition, one of the employees of the

IT Department was assigned the responsibility for monitoring the implementation process and ensure the

effectiveness of the security controls. The IT team, on the other hand, was responsible for allocating the

resources needed to effectively implement the new controls.

How should Detika define which of the identified risks should be treated first? Refer to scenario 5