Free PECB ISO-IEC-27005-Risk-Manager Exam Questions

Scenario 4: In 2017, seeing that millions of people turned to online shopping, Ed and James Cordon foundedthe online marketplace for footwear called Poshoe. In the past, purchasing pre-owned designer shoes onlinewas not a pleasant experience because of unattractive pictures and an inability to ascertain the products’authenticity. However, after Poshoe’s establishment, each product was well advertised and certified asauthentic before being offered to clients. This increased the customers’ confidence and trust in Poshoe’sproducts and services. Poshoe has approximately four million users and its mission is to dominate the secondhand sneaker market and become a multi-billion dollar company.Due to the significant increase of daily online buyers, Poshoe’s top management decided to adopt a big dataanalytics tool that could help the company effectively handle, store, and analyze data. Before initiating the implementation process, they decided to conduct a risk assessment. Initially, the company identified its assets,threats, and vulnerabilities associated with its information systems. In terms of assets, the company identifiedthe information that was vital to the achievement of the organization’s mission and objectives. During thisphase, the company also detected a rootkit in their software, through which an attacker could remotely accessPoshoe’s systems and acquire sensitive data.The company discovered that the rootkit had been installed by an attacker who had gained administratoraccess. As a result, the attacker was able to obtain the customers’ personal data after they purchased a productfrom Poshoe. Luckily, the company was able to execute some scans from the target device and gain greatervisibility into their software’s settings in order to identify the vulnerability of the system.The company initially used the qualitative risk analysis technique to assess the consequences and thelikelihood and to determine the level of risk. The company defined the likelihood of risk as “a few times intwo years with the probability of 1 to 3 times per year.” Later, it was decided that they would use aquantitative risk analysis methodology since it would provide additional information on this major risk.Lastly, the top management decided to treat the risk immediately as it could expose the company to otherissues. In addition, it was communicated to their employees that they should update, secure, and back upPoshoe’s software in order to protect customers’ personal information and prevent unauthorized access fromattackers.According to scenario 4, which type of assets was identified during the risk identification process?

Scenario 4: In 2017, seeing that millions of people turned to online shopping, Ed and James Cordon foundedthe online marketplace for footwear called Poshoe. In the past, purchasing pre-owned designer shoes onlinewas not a pleasant experience because of unattractive pictures and an inability to ascertain the products’authenticity. However, after Poshoe’s establishment, each product was well advertised and certified asauthentic before being offered to clients. This increased the customers’ confidence and trust in Poshoe’sproducts and services. Poshoe has approximately four million users and its mission is to dominate the secondhand sneaker market and become a multi-billion dollar company.Due to the significant increase of daily online buyers, Poshoe’s top management decided to adopt a big dataanalytics tool that could help the company effectively handle, store, and analyze data. Before initiating the implementation process, they decided to conduct a risk assessment. Initially, the company identified its assets,threats, and vulnerabilities associated with its information systems. In terms of assets, the company identifiedthe information that was vital to the achievement of the organization’s mission and objectives. During thisphase, the company also detected a rootkit in their software, through which an attacker could remotely accessPoshoe’s systems and acquire sensitive data.The company discovered that the rootkit had been installed by an attacker who had gained administratoraccess. As a result, the attacker was able to obtain the customers’ personal data after they purchased a productfrom Poshoe. Luckily, the company was able to execute some scans from the target device and gain greatervisibility into their software’s settings in order to identify the vulnerability of the system.The company initially used the qualitative risk analysis technique to assess the consequences and thelikelihood and to determine the level of risk. The company defined the likelihood of risk as “a few times intwo years with the probability of 1 to 3 times per year.” Later, it was decided that they would use aquantitative risk analysis methodology since it would provide additional information on this major risk.Lastly, the top management decided to treat the risk immediately as it could expose the company to otherissues. In addition, it was communicated to their employees that they should update, secure, and back upPoshoe’s software in order to protect customers’ personal information and prevent unauthorized access fromattackers.According to scenario 4, which type of assets was identified during the risk identification process?

Which of the following statements best defines information security risk? 

Scenario 3: Printary is an American company that offers digital printing services. Creating cost-effective andcreative 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, clientscould 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 thecompany. Thus, along with the decision of creating an online business, the company focused on managinginformation security risks. Their risk management program was established based on ISO/IEC 27005guidelines and industry best practices.Last year, the company considered the integration of an online payment system on its website in order toprovide more flexibility and transparency to customers. Printary analyzed various available solutions andselected Pay0, a payment processing solution that allows any company to easily collect payments on theirwebsite. Before making the decision, Printary conducted a risk assessment to identify and analyze informationsecurity 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 couldnegatively affect the achievement of information security objectives. The risk identification phase highlightedtwo main threats associated with the online payment system: error in use and data corruption After conductinga gap analysis, the company concluded that the existing security controls were sufficient to mitigate the threatof data corruption. However, the user interface of the payment solution was complicated, which couldincrease 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 tounderstand the nature of the identified risks. They decided to use a quantitative risk analysis methodologybecause it would provide more detailed information. The selected risk analysis methodology was consistentwith the risk evaluation criteria. Firstly, they used a list of potential incident scenarios to assess their potentialimpact. In addition, the likelihood of incident scenarios was defined and assessed. Finally, the level of riskwas defined as low.In the end, the level of risk was compared to the risk evaluation and acceptance criteria and was prioritizedaccordingly.Based on the scenario above, answer the following question:What type of risk identification approach did Printary use?

Scenario 5: Detika is a private cardiology clinic in Pennsylvania, the US. Detika has one of the most advancedhealthcare systems for treating heart diseases. The clinic uses sophisticated apparatus that detects heartdiseases in early stages. Since 2010, medical information of Detika’s patients is stored on the organization’sdigital 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 toensure that all information security risks are identified and managed. Last month, Detika conducted a riskassessment which was focused on the EHR system. During risk identification, the IT team found out thatsome employees were not updating the operating systems regularly. This could cause major problems such asa data breach or loss of software compatibility. In addition, the IT team tested the software and detected aflaw in one of the software modules used. Both issues were reported to the top management and they decidedto implement appropriate controls for treating the identified risks. They decided to organize training sessionsfor all employees in order to make them aware of the importance of the system updates. In addition, themanager of the IT Department was appointed as the person responsible for ensuring that the software isregularly tested.Another risk identified during the risk assessment was the risk of a potential ransomware attack. This risk wasdefined as low because all their data was backed up daily. The IT team decided to accept the actual risk ofransomware attacks and concluded that additional measures were not required. This decision was documentedin the risk treatment plan and communicated to the risk owner. The risk owner approved the risk treatmentplan and documented the risk assessment results.Following that, Detika initiated the implementation of new controls. In addition, one of the employees of theIT Department was assigned the responsibility for monitoring the implementation process and ensure theeffectiveness of the security controls. The IT team, on the other hand, was responsible for allocating theresources needed to effectively implement the new controls.How should Detika define which of the identified risks should be treated first? Refer to scenario 5