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Exam (elaborations)

CIPM QUESTIONS WITH ANSWERS

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  • Course
  • CIMP - Certificate in Investment Performance Measurement
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  • CIMP - Certificate In Investment Performance Measurement

CIPM QUESTIONS WITH ANSWERS

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  • September 23, 2024
  • 18
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • CIMP - Certificate in Investment Performance Measurement
  • CIMP - Certificate in Investment Performance Measurement
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PROFESSORAILAH
CIPM QUESTIONS WITH ANSWERS.
Proactive privacy management is accomplished through three tasks ANS -1) Define your organization's
privacy vision and privacy mission statements 2) Develop privacy strategy 3) Structure your privacy team



This is needed to structure responsibilities with business goals ANS -Strategic Management



Identifies alignment to organizational vision and defines the privacy leaders for an organization, along
with the resources necessary to execute the vision. ANS -Strategic Management model



Member of the privacy team who may be responsible for privacy program framework development,
management and reporting within an organization ANS -Privacy professional



Strategic management of privacy starts by ANS -creating or updating the company's vision and mission
statement based on privacy best practice



Privacy best practices ANS -1) Develop vision and mission statement objectives 2) define privacy
program scope 3)identify legal and regulatory compliance challenges 4) identify organization personal
information legal requirements



This key factor that lays the groundwork for the rest of the privacy program elements and is typically
comprised of a short sentence or two that describe the purpose and ideas in less than 30 seconds. ANS -
Vision or mission statement



This explains what you do as an organization, not who you are; what the organization stands for and
why what you do an an organization to protect personal information is done ANS -Mission Statement



What are the steps in the five step metric cycle ANS -Identify, Define, Select, Collect, Analyze



The first step in the selecting the correct metrics starts by what? ANS -Identifying the intended metric
audience

,The primary audience for metrics may include ANS -Legal and privacy officers, senior leadership; CIO,
CSO, PM, Information Systems Owner (ISO), Information Security Officer (ISO), Others considered users
and managers



The secondary audience includes those who may not have privacy as a primary task include ANS -CFO,
Training organizations, HR, IG, HIPPA security officials



The tertiary audiences may be considered, based on the organization's specific or unique requirements
such as who? ANS -External watch dog groups, Sponsors, Stockholders



The difference between metrics audiences is based on what? ANS -Level of interest, influence and
responsibility to privacy within the business objectives, laws and regulations, or ownership



Specific to Healthcare metrics, audiences may include whom? ANS -HIPPA privacy officers, medical
interdisciplinary readiness teams (MIRTs), senior executive staff, covered entity workforce, self
assessment tool and risk analysis/management



What is the second step in the metric life cycle? ANS -Define Reporting Procedures



A metric owner must be able to do what? ANS -Evangelize the purpose and intent of that metric to the
organization



This person is the process owner, champion, advocate and evangelist responsible for management of
the metric throughout the metric life cycle ANS -Metric Owner



As Six Sigma teaches, an effective metric owner must do what? ANS -1) Know what is critical about the
metric, 2) Monitor process performance with the metric, 3) Make sure the process documentation is up
to date, 4) Perform regular reviews, 5) Make sure that any improvements are incorporated and
maintained in the process, 6) Advocate the metric to customers, partners and others, 7) Maintain
training, documentation, and materials



As a general practice, who should not perform the data collection tasks or perform the measurements of
the metric? ANS -Metric Owner

, What is the third step in the metric life cycle ANS -Select Privacy Metrics



Selecting the correct privacy metric requires what? ANS -Full understanding of the business objectives
and goals, along with a clear understanding of the primary business functions.



Prior to selecting metrics, the reader should first understand what? ANS -Attributes of an effective
metric with metric taxonomy and how to limit improper metrics.



An effective metric is a clear and concise metric that defines and measures what? ANS -Progress toward
a business objective or goal without overburdening the reader



Good metrics should not do what? ANS -Overburden the reader



A metric should be clear in the meaning of what is being measured and what else? ANS -1) Rigorously
defined, 2) Credible and relevant, 3) Objective and quantifiable 4) Associated with the baseline
measurement per the organization standard metric taxonomy



If a standard metric taxonomy does not exist, privacy professionals can generate their own using the
best practices from where? ANS -NIST, NISTIR 7564, "Directions in Security Metrics Research"



A mission statement should include what five items? ANS -Value the organization places on privacy,
Desired organizational objectives, Strategies to drive the tactics used to achieve the intended outcomes,
Clarification of roles and responsibilities



Strategic Management assigns roles, sets expectations grants powers and what? ANS -Verifies
performance



This model identifies alignment to organization vision and defines the privacy leaders for an
organization, along with the resources (people, policy, processes, and procedures) necessary to execute
vision ANS -Strategic Management Model

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