Certified in Risk and Information Systems Control (CRISC) — Question 411

You are the risk professional of your enterprise. You have performed cost and benefit analysis of control that you have adopted. What are all the benefits of performing cost and benefit analysis of control? Each correct answer represents a complete solution. (Choose three.)

Answer options

• A. It helps in determination of the cost of protecting what is important
• B. It helps in taking risk response decisions
• C. It helps in providing a monetary impact view of risk
• D. It helps making smart choices based on potential risk mitigation costs and losses

Correct answer: A, C, D

Explanation

The correct answers A, C, and D highlight the benefits of conducting a cost and benefit analysis, such as understanding the expenses of protecting valuable assets, providing a financial perspective on risks, and enabling informed decision-making regarding risk mitigation costs. Option B, while relevant to risk management, does not specifically pertain to the benefits derived from the cost and benefit analysis itself.