Isaca IT Risk Fundamentals Exam Questions - Navigate Your Path to Success

The Isaca IT Risk Fundamentals Certificate Exam (IT Risk Fundamentals) exam is a good choice for Risk Management Professionals and if the candidate manages to pass Isaca IT Risk Fundamentals Certificate Exam, he/she will earn Isaca IT Risk Fundamentals Certification. Below are some essential facts for Isaca IT Risk Fundamentals exam candidates:

TrendyCerts offers 75 Questions that are based on actual Isaca IT Risk Fundamentals syllabus.
Our Isaca IT Risk Fundamentals Exam Practice Questions were last updated on: Feb 28, 2025

Sample Questions for Isaca IT Risk Fundamentals Exam Preparation

Question 1

When should a consistent risk analysis method be used?

AWhen the goal is to produce results that can be compared over time

BWhen the goal is to aggregate risk at the enterprise level

CWhen the goal is to prioritize risk response plans

Correct : A

A consistent risk analysis method should be used when the goal is to produce results that can be compared over time. Here's the explanation:

When the Goal Is to Produce Results That Can Be Compared Over Time: Consistency in the risk analysis method ensures that results are comparable across different periods. This allows for trend analysis, monitoring changes in risk levels, and assessing the effectiveness of risk management strategies over time.

When the Goal Is to Aggregate Risk at the Enterprise Level: While consistency helps, the primary goal here is to provide a comprehensive view of all risks across the organization. Aggregation can be achieved through various methods, but comparability over time is not the main objective.

When the Goal Is to Prioritize Risk Response Plans: Consistency aids in prioritization, but the main focus here is on assessing and ranking risks based on their severity and impact, which can be achieved with different methods.

Therefore, a consistent risk analysis method is most crucial when aiming to produce comparable results over time.

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Question 2

When analyzing l&T-related risk, an enterprise defines likelihood and impact on a scale from 1 to 5, and the scale of impact also defines a range expressed in monetary terms. Which of the following risk analysis approaches has been adopted?

AQualitative approach

BQuantitative approach

CHybrid approach

Correct : C

When an enterprise defines likelihood and impact on a scale from 1 to 5, and the scale of impact also defines a range expressed in monetary terms, a hybrid approach has been adopted. Here's why:

Qualitative Approach: This approach uses descriptive scales and subjective assessments to evaluate risk likelihood and impact. It does not typically involve monetary terms.

Quantitative Approach: This method uses numerical values and statistical models to measure risk, often involving monetary terms and precise calculations.

Hybrid Approach: This combines elements of both qualitative and quantitative approaches. By defining likelihood on a scale (qualitative) and expressing impact in monetary terms (quantitative), the enterprise is using a hybrid approach. This allows for a comprehensive assessment that leverages the strengths of both methods.

Therefore, the described method represents a hybrid approach to risk analysis.

ISA 315 Anlage 5 and 6: Detailed guidelines on risk assessment and analysis methodologies.

ISO-27001 and GoBD standards for risk management and business impact analysis.

These references provide a comprehensive understanding of the principles and methodologies involved in IT risk and audit processes.