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PECB Certified ISO/IEC 27005 Risk Manager ISO-IEC-27005-Risk-Manager Exam Questions
Question 1
What should an organization do after it has established the risk communication plan?
Answer : C
Once an organization has established a risk communication plan, it should implement it by establishing both internal and external communication channels to ensure all stakeholders are informed and involved in the risk management process. This step is crucial for maintaining transparency, ensuring clarity, and fostering a collaborative environment where risks are managed effectively. Therefore, option C is the correct answer.
ISO/IEC 27005:2018, Clause 7, 'Communication and Consultation,' which outlines the importance of establishing both internal and external communication mechanisms to ensure effective risk management.
Question 2
Based on the EBIOS RM method, which of the following is one of the four attack sequence phases?
Answer : A
Based on the EBIOS Risk Manager (EBIOS RM) methodology, the attack sequence phases include various steps that an attacker might take to compromise an organization's assets. The four phases generally cover reconnaissance, exploiting vulnerabilities, achieving objectives, and maintaining persistence. 'Exploiting' is specifically the phase where the attacker takes advantage of identified vulnerabilities in the system, which directly aligns with option A.
Question 3
Scenario 8: Biotide is a pharmaceutical company that produces medication for treating different kinds of diseases. The company was founded in 1997, and since then it has contributed in solving some of the most challenging healthcare issues.
As a pharmaceutical company, Biotide operates in an environment associated with complex risks. As such, the company focuses on risk management strategies that ensure the effective management of risks to develop high-quality medication. With the large amount of sensitive information generated from the company, managing information security risks is certainly an important part of the overall risk management process. Biotide utilizes a publicly available methodology for conducting risk assessment related to information assets. This methodology helps Biotide to perform risk assessment by taking into account its objectives and mission. Following this method, the risk management process is organized into four activity areas, each of them involving a set of activities, as provided below.
1. Activity area 1: The organization determines the criteria against which the effects of a risk occurring can be evaluated. In addition, the impacts of risks are also defined.
2. Activity area 2: The purpose of the second activity area is to create information asset profiles. The organization identifies critical information assets, their owners, as well as the security requirements for those assets. After determining the security requirements, the organization prioritizes them. In addition, the organization identifies the systems that store, transmit, or process information.
3. Activity area 3: The organization identifies the areas of concern which initiates the risk identification process. In addition, the organization analyzes and determines the probability of the occurrence of possible threat scenarios.
4. Activity area 4: The organization identifies and evaluates the risks. In addition, the criteria specified in activity area 1 is reviewed and the consequences of the areas of concerns are evaluated. Lastly, the level of identified risks is determined.
The table below provides an example of how Biotide assesses the risks related to its information assets following this methodology:
Based on the table provided in scenario 8, did Biotide prioritize the security requirements for electronic health records?
Answer : A
Based on the table provided in Scenario 8, Biotide has prioritized the security requirements for its electronic health records. In Activity Area 2, the table clearly indicates that confidentiality is considered the most important security feature for electronic health records. This prioritization is based on the need to ensure that only authorized users have access to these critical information assets due to the sensitive nature of the data involved.
The emphasis on confidentiality aligns with ISO/IEC 27005 guidelines, which recommend prioritizing security requirements based on the impact assessment and the organization's risk management objectives. In this case, the potential impact of unauthorized access (breach of confidentiality) to electronic health records is high, which justifies Biotide's decision to prioritize confidentiality over other security requirements such as integrity or availability.
Option A is correct because it reflects the prioritization decision documented in the table, while options B and C are inaccurate as they either misrepresent the prioritization process or suggest that it did not occur.
Question 4
Scenario 4: In 2017, seeing that millions of people turned to online shopping, Ed and James Cordon founded the online marketplace for footwear called Poshoe. In the past, purchasing pre-owned designer shoes online was 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 as authentic before being offered to clients. This increased the customers' confidence and trust in Poshoe's products and services. Poshoe has approximately four million users and its mission is to dominate the second-hand 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 data analytics tool that could help the company effectively handle, store, and analyze dat
a. 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 identified the information that was vital to the achievement of the organization's mission and objectives. During this phase, the company also detected a rootkit in their software, through which an attacker could remotely access Poshoe's systems and acquire sensitive data.
The company discovered that the rootkit had been installed by an attacker who had gained administrator access. As a result, the attacker was able to obtain the customers' personal data after they purchased a product from Poshoe. Luckily, the company was able to execute some scans from the target device and gain greater visibility 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 the likelihood and to determine the level of risk. The company defined the likelihood of risk as ''a few times in two years with the probability of 1 to 3 times per year.'' Later, it was decided that they would use a quantitative 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 other issues. In addition, it was communicated to their employees that they should update, secure, and back up Poshoe's software in order to protect customers' personal information and prevent unauthorized access from attackers.
Based on scenario 4, which scanning tool did Poshoe use to detect the vulnerability in their software?
Answer : B
Poshoe used scans from the target device to gain greater visibility into their software's settings and identify vulnerabilities, which indicates the use of a host-based scanning tool. Host-based scanning tools are used to examine the internal state of a system, such as installed software, configurations, and files, to detect vulnerabilities or malicious software like rootkits. Option A (Network-based scanning tool) would be used to scan network traffic and identify vulnerabilities in network devices, which does not match the context. Option C (Penetration testing tool) involves simulating an attack to test system defenses, which is more intrusive than the scanning described in the scenario.
Question 5
Scenario 8: Biotide is a pharmaceutical company that produces medication for treating different kinds of diseases. The company was founded in 1997, and since then it has contributed in solving some of the most challenging healthcare issues.
As a pharmaceutical company, Biotide operates in an environment associated with complex risks. As such, the company focuses on risk management strategies that ensure the effective management of risks to develop high-quality medication. With the large amount of sensitive information generated from the company, managing information security risks is certainly an important part of the overall risk management process. Biotide utilizes a publicly available methodology for conducting risk assessment related to information assets. This methodology helps Biotide to perform risk assessment by taking into account its objectives and mission. Following this method, the risk management process is organized into four activity areas, each of them involving a set of activities, as provided below.
1. Activity area 1: The organization determines the criteria against which the effects of a risk occurring can be evaluated. In addition, the impacts of risks are also defined.
2. Activity area 2: The purpose of the second activity area is to create information asset profiles. The organization identifies critical information assets, their owners, as well as the security requirements for those assets. After determining the security requirements, the organization prioritizes them. In addition, the organization identifies the systems that store, transmit, or process information.
3. Activity area 3: The organization identifies the areas of concern which initiates the risk identification process. In addition, the organization analyzes and determines the probability of the occurrence of possible threat scenarios.
4. Activity area 4: The organization identifies and evaluates the risks. In addition, the criteria specified in activity area 1 is reviewed and the consequences of the areas of concerns are evaluated. Lastly, the level of identified risks is determined.
The table below provides an example of how Biotide assesses the risks related to its information assets following this methodology:
Based on the scenario above, answer the following question:
Which risk assessment methodology does Biotide use?
Answer : A
Biotide uses the OCTAVE Allegro methodology for risk assessment. This is determined based on the description of the activities mentioned in the scenario. OCTAVE Allegro is a streamlined approach specifically designed to help organizations perform risk assessments that are efficient and effective, particularly when handling information assets. The methodology focuses on a thorough examination of information assets, the threats they face, and the impact of those threats.
Activity Area 1: OCTAVE Allegro defines the criteria for evaluating the impact of risks, which is consistent with determining the risk effects' evaluation criteria in the scenario.
Activity Area 2: In OCTAVE Allegro, a critical step is creating profiles for information assets, identifying their owners, and determining security requirements. This aligns with the activity in which Biotide identifies critical assets, their owners, and their security needs.
Activity Area 3: Identifying areas of concern that initiate risk identification and analyzing threat scenarios is central to OCTAVE Allegro. This is reflected in the activity of identifying areas of concern and determining the likelihood of threats.
Activity Area 4: Evaluating the risks, reviewing criteria, and determining risk levels corresponds to the latter stages of OCTAVE Allegro, where risks are prioritized based on the likelihood and impact, and risk management strategies are formulated accordingly.
The steps outlined align with the OCTAVE Allegro approach, which focuses on understanding and addressing information security risks comprehensively and in line with organizational objectives. Hence, option A, OCTAVE Allegro, is the correct answer.
ISO/IEC 27005:2018 emphasizes the importance of using structured methodologies for information security risk management, like OCTAVE Allegro, to ensure that risks are consistently identified, assessed, and managed in accordance with organizational risk tolerance and objectives.
Question 6
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 criteri
a. 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 scenario 3, Printary used a list of identified events that could negatively influence the achievement of its information security objectives to identify information security risks. Is this in compliance with the guidelines of ISO/IEC 27005?
Answer : B
According to ISO/IEC 27005, identifying risks to information security involves recognizing events that could adversely affect the achievement of information security objectives. Using a list of events that could negatively impact these objectives is consistent with the risk identification process as outlined in ISO/IEC 27005. This approach focuses on identifying specific incidents or events that could result in security breaches or compromises, providing a clear understanding of the potential risks to the organization. Thus, Printary's use of a list of such events to identify information security risks complies with the standard's guidelines, making option B the correct answer.
ISO/IEC 27005:2018, Clause 8.2, 'Risk Identification,' which states that the organization should identify the events that could compromise information security objectives.
Question 7
An organization has installed security cameras and alarm systems. What type of information security control has been implemented in this case?
Answer : A
Security cameras and alarm systems are considered technical controls in the context of information security. Technical controls, also known as logical controls, involve the use of technology to protect information and information systems. These controls are designed to prevent or detect security breaches and mitigate risks related to physical access and surveillance. While security cameras and alarms are physical in nature, they fall under the broader category of technical controls because they involve electronic monitoring and alert systems. Option B (Managerial) refers to administrative policies and procedures, and option C (Legal) refers to controls related to compliance with laws and regulations, neither of which applies in this case.
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