Free CISM - Certified Information Security Manager Practice Questions: Information Security Risk Management Domain

Correct Answer: C

Explanation: Mitigating the risk by implementing multi-factor authentication is the most effective treatment option as it directly addresses the risk of unauthorized access by adding an additional layer of security. Transferring the risk does not reduce the likelihood of occurrence, avoiding the risk is impractical, and accepting the risk is inappropriate given the sensitivity of the data.

Correct Answer: A

Explanation: Reviewing and updating the access control policy (Option A) is the best action to prevent unauthorized access to sensitive data. This ensures that access rights are aligned with job roles and responsibilities. While security awareness training (Option B), DLP solutions (Option C), and more frequent access reviews (Option D) are beneficial, they do not directly address the root cause of inappropriate access permissions.

Correct Answer: B

Explanation: The most critical factor to evaluate in the SLA is the provider's data breach notification timeframe. This ensures that the organization is promptly informed of any security incidents, allowing for timely response and mitigation. While compliance with industry standards (A) is important, it does not directly address the timeliness of incident response. Cost-effectiveness (C) and geographic location (D) are important considerations but are not directly related to managing information security risks.

Correct Answer: C

Explanation: C is correct because understanding the provider's data breach notification and incident response procedures is crucial to ensure the organization can respond appropriately to any incidents affecting its data. A is incorrect because cost and payment terms, while important, do not directly affect security. B is incorrect because while data location can affect legal compliance, it is not as critical as knowing how incidents will be managed. D is incorrect because compliance with data protection laws is important, but it is part of a broader compliance assessment rather than a specific SLA consideration.

Correct Answer: B

Explanation: Conducting a risk assessment (B) is the appropriate first step to understand the potential impact and prioritize actions. Immediate encryption (A) may not be feasible without understanding the context. Informing customers (C) is premature without a full assessment. Developing a policy (D) should follow once the risk is fully understood.

Correct Answer: B

Explanation: The primary consideration should be the cloud provider's compliance with relevant regulatory requirements. Ensuring compliance helps mitigate legal and regulatory risks associated with data protection and privacy. While cost savings, integration, and advanced tools are important, they do not directly address the potential risk of non-compliance, which could have significant legal and financial implications.

Correct Answer: A

Explanation: The primary focus should be on implementing a robust third-party risk management program (Option A). This comprehensive approach addresses the risk by establishing processes and controls to manage third-party access effectively. Multi-factor authentication (Option B), audits (Option C), and training (Option D) are specific controls that can be part of the program but are not substitutes for a holistic risk management strategy.

Correct Answer: C

Explanation: Conducting a risk assessment to understand the impact of inadequate logging is the first step. This assessment helps prioritize actions based on the potential impact on the organization. Implementing a centralized logging system and updating policies are important actions but should be informed by the risk assessment. Assigning responsibility is part of the implementation process.

Correct Answer: C

Explanation: Prioritizing remediation based on risk assessment results (C) ensures that resources are focused on the most critical issues that could impact the organization. Shutting down systems (A) could disrupt business operations. Updating the policy (B) without addressing the root cause is ineffective. Informing stakeholders (D) is important but should follow the assessment.

Correct Answer: D

Explanation: The next step should be to notify senior management and recommend a contract review. Senior management needs to be aware of the risk to make informed decisions about the relationship with the vendor. Terminating the contract immediately (A) may not be feasible without a thorough review. Implementing additional controls (B) and requiring a security audit (C) are potential actions but should be considered after consulting with senior management.