D486 ITCL 522 5 Governance, Risk, Compliance LATEST COMPLETE OA GUIDE 2024 1. Multiple Choice: Which of the following is a key component of IT governance? a) Risk management b) Financial accounting c) Sales forecasting d) Product development Correct Answer : a) Risk management Rationale: Risk management is essential in IT governance as it involves identifying, assessing, and controlling threats to an organization's capital and earnings. 2. True/False: Compliance with regulatory requirements is optional for IT companies. Answer : False Rationale: Compliance with regulatory requirements is mandatory for IT companies to ensure they meet legal, ethical, and technical standards. 3. Fill -in-the-Blank: The framework developed by ISACA for IT management and governance is called ____________. Correct Answer : COBIT (Control Objectives for Information and Related Technologies) Rationale: COBIT provides guidelines and best practices for IT management and governance, focusing on aligning IT goals with business objectives. 4. M ultiple Choice: What does the 'A' in the 'CIA Triad' of information security stand for? a) Authentication b) Authorization c) Availability d) Access Correct Answer : c) Availability Rationale: The 'A' stands for Availability, which ensures that information is accessible to authorized users when needed. 5. True/False: In risk assessment, the likelihood of a threat occurring is irrelevant. Answer : False Rationale: The likelihood of a threat is a critical component in risk assessment as it helps determine the level of risk and the necessary controls. 6. Fill -in-the-Blank: ____________ is the process of defining, understanding, and managing the legal and regulatory environment. Correct Answer : Compliance Rationale: Compliance involves ensuring that the organization adheres to laws, regulations, policies, and standards relevant to its operations. 7. Multiple Choice: Which standard provides a framework for managing and controlling information security ri sks? a) ISO 27001
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