CRISC Exam Study Guide with Complete Solutions
monitoring effectivness - Answer️️ -depends in large part on its successful
integration with reporting
Risk indicators - Answer️️ -used to measure risk levels in comparison to defined
risk thresholds, so that the organization receives an al...
KRI reliability - Answer✔️✔️-indicator must process a high coorelation with the risk
and be a good predictor or outcome measure
KRI Sensitivity - Answer✔️✔️-must be representative of risk and capable of
accurately indicating risk variances
KRI repeatability - Answer✔️✔️-must be repeatable and able to measure on a
regular basis to show trends and patterns in activity and results
KRI optimization - Answer✔️✔️--Sensitivity
- Timing
- Frequency
- Corrective Action
KRI Maintenance - Answer✔️✔️-should be evaluated on a regular basis to verify
that each KRI remains properly related to the risk appetite and tolerance levels of
the enterprise, and that KRI trigger levels should be defined at a point that enables
stakeholders to take appropriate action in a timely manner
Performance indicator - Answer✔️✔️-measure how well a process is performing in
terms of it stated goal. put in place to provide insight into whether action may be
required
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