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A risk manager recommends discontinuing an e-commerce feature that relies on a deprecated payment API because no patch is available. Which risk response option is this?

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Key Facts: CISRM Exam

100 MCQ

Exam Format

Mile2

70%

Passing Score

Mile2

4 domains

Content Areas

Mile2 course outline

3 years

Certification Validity

Mile2

DoD 8140

Government Approval

Mile2

~$2,500

Course + Exam Combo

Mile2

The Mile2 CISRM is a 100-question online MCQ exam requiring a 70% passing score. It covers risk management frameworks (ISO 31000, NIST RMF, COSO ERM, COBIT), risk identification and assessment, risk response strategies, KRI-based monitoring, and IS control design through the SDLC. It is DoD 8140 approved.

Sample CISRM Practice Questions

Try these sample questions to test your CISRM exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Which risk management framework defines risk as 'the effect of uncertainty on objectives' and is the most widely adopted international standard for risk management principles?
A.COBIT 2019
B.COSO ERM
C.NIST SP 800-30
D.ISO 31000:2018
Explanation: ISO 31000:2018 defines risk as 'the effect of uncertainty on objectives' and provides internationally recognized principles, a framework, and a process for managing risk. It is deliberately broad and applicable across all sectors and organization types.
2An organization's board establishes a maximum acceptable level of risk it is willing to retain before action must be taken. What term describes this threshold?
A.Risk appetite
B.Risk tolerance
C.Risk capacity
D.Residual risk
Explanation: Risk appetite is the amount and type of risk an organization is willing to accept in pursuit of its objectives. It is set at the strategic level by leadership and guides all subsequent risk decisions and thresholds.
3During risk identification, a risk manager develops a hypothetical sequence of events describing how a threat could exploit a vulnerability and impact the organization. This is known as a:
A.Risk factor
B.Business impact statement
C.Risk register entry
D.Risk scenario
Explanation: A risk scenario is a structured description of how a specific threat event could occur, combining threat actor, threat type, affected asset, and resulting business impact. Risk scenarios make abstract risks concrete and actionable for assessment and response planning.
4A risk analyst estimates the probability of a data breach at 30% per year and assesses the financial loss if it occurs at $400,000. What is the Annualized Loss Expectancy (ALE)?
A.$280,000
B.$400,000
C.$40,000
D.$120,000
Explanation: ALE = Single Loss Expectancy (SLE) × Annualized Rate of Occurrence (ARO). Here, SLE = $400,000 and ARO = 0.30 (30% per year). ALE = $400,000 × 0.30 = $120,000. This figure represents the expected annual monetary loss from the threat.
5Which type of risk analysis assigns descriptive ratings such as High, Medium, or Low rather than numerical probabilities and financial losses?
A.Monte Carlo simulation
B.Fault tree analysis
C.Quantitative risk analysis
D.Qualitative risk analysis
Explanation: Qualitative risk analysis uses descriptive scales (High/Medium/Low or similar) to rate likelihood and impact. It is faster, requires less data, and is suitable when precise financial figures are unavailable. It relies on expert judgment and structured workshops.
6In the ISRM risk assessment process, what term describes the level of risk that exists before any controls have been applied?
A.Inherent risk
B.Control risk
C.Residual risk
D.Accepted risk
Explanation: Inherent risk is the level of risk present in a process or activity before any controls are in place. It represents the raw, unmitigated exposure and forms the starting point from which control effectiveness is measured.
7An organization decides to purchase cyber liability insurance to address a risk associated with a potential data breach. Which risk response strategy is being used?
A.Risk transfer
B.Risk acceptance
C.Risk avoidance
D.Risk mitigation
Explanation: Risk transfer (also called risk sharing) shifts the financial consequences of a risk to a third party such as an insurer. Purchasing cyber liability insurance is the classic example — the organization still faces the threat but transfers the monetary impact.
8A risk manager recommends discontinuing an e-commerce feature that relies on a deprecated payment API because no patch is available. Which risk response option is this?
A.Risk mitigation
B.Risk acceptance
C.Risk transfer
D.Risk avoidance
Explanation: Risk avoidance eliminates the source of the risk entirely by stopping the activity that creates the exposure. Discontinuing the e-commerce feature removes the deprecated API and therefore the associated risk.
9Which document records all identified risks, their likelihood, impact, owners, and current treatment status for ongoing management and reporting?
A.Business Impact Analysis (BIA)
B.Security baseline
C.System Security Plan (SSP)
D.Risk register
Explanation: A risk register (or risk log) is the central artifact for tracking identified risks. It includes each risk's description, probability, impact rating, risk owner, response strategy, control status, and review dates, enabling continuous monitoring and reporting.
10Key Risk Indicators (KRIs) are MOST useful for which purpose in an information systems risk management program?
A.Replacing periodic risk assessments entirely
B.Measuring the financial cost of individual control failures
C.Defining which risks to accept without controls
D.Providing early warning signals of increasing risk exposure
Explanation: KRIs are forward-looking metrics that signal when risk levels are trending toward or beyond tolerance thresholds — providing early warning so management can take proactive action before a risk materializes. They complement, not replace, periodic risk assessments.

About the CISRM Exam

The Mile2 CISRM certifies professionals in information systems risk management across four domains: risk identification and assessment, risk response, risk monitoring, and IS control design and implementation. Preparation also covers ISACA CRISC content.

Questions

100 scored questions

Time Limit

Approximately 2 hours (not officially published)

Passing Score

70%

Exam Fee

Included in course/exam combo; contact Mile2 for pricing (Mile2 Cybersecurity Institute)

CISRM Exam Content Outline

Foundational

Risk Management Frameworks & Governance

ISO 31000, NIST RMF, COSO ERM, COBIT APO12, risk appetite, tolerance, organizational culture, and governance structures

~30%

Domain 1: Risk Identification, Assessment & Evaluation

Risk scenarios, threat and vulnerability identification, qualitative and quantitative analysis, ALE/SLE/ARO, inherent and residual risk, business impact analysis

~25%

Domain 2: Risk Response

Avoidance, mitigation, transfer, acceptance, sharing strategies; cost-benefit analysis; corrective action planning; risk treatment documentation

~25%

Domain 3: Risk Monitoring

Key risk indicators, maturity assessments, risk register maintenance, trend reporting, executive and operational reporting, continuous monitoring

~20%

Domain 4: IS Control Design & Implementation

Control types (preventive, detective, corrective), SDLC phases, requirements definition, software selection, UAT, certification and accreditation, post-implementation review

How to Pass the CISRM Exam

What You Need to Know

  • Passing score: 70%
  • Exam length: 100 questions
  • Time limit: Approximately 2 hours (not officially published)
  • Exam fee: Included in course/exam combo; contact Mile2 for pricing

Keys to Passing

  • Complete 500+ practice questions
  • Score 80%+ consistently before scheduling
  • Focus on highest-weighted sections
  • Use our AI tutor for tough concepts

CISRM Study Tips from Top Performers

1Focus on the four ISRM domains and their key outputs: risk register (Domain 1), corrective action plan (Domain 2), KRI dashboard (Domain 3), and control effectiveness evidence (Domain 4)
2Master the quantitative risk formulas: SLE = Asset Value × Exposure Factor; ALE = SLE × ARO; ROI = (ALE before − ALE after) − Control Cost
3Know the difference between risk appetite (board-set strategic threshold) and risk tolerance (acceptable variance around appetite)
4Understand all risk response strategies: avoidance, mitigation, transfer, acceptance, and sharing — and when each is appropriate
5Study SDLC integration: the ISRM role at each phase from requirements definition through post-implementation review

Frequently Asked Questions

What is the Mile2 CISRM exam format?

The CISRM exam consists of 100 multiple-choice questions with a passing score of 70% (70 correct answers). The exam is delivered online through Mile2's Learning Management System with proctoring. The time limit is not formally published; allow approximately 2 hours. Mile2 also offers a DoD 8140 approved variant.

What frameworks does the CISRM cover?

The CISRM covers ISO 31000:2018 (risk management principles and process), NIST SP 800-30 (risk assessment), NIST RMF (SP 800-37), COSO ERM, COBIT 2019 APO12, and ISO/IEC 27001. Preparation for CISRM also substantially overlaps with ISACA CRISC exam content.

What are the four domains of the CISRM?

The CISRM is organized into four domains after foundational 'Big Picture' content: Domain 1 — Risk Identification, Assessment & Evaluation; Domain 2 — Risk Response; Domain 3 — Risk Monitoring; and Domain 4 — IS Control Design & Implementation. The course also begins with an overview of risk management frameworks and governance.

Is the CISRM good preparation for ISACA CRISC?

Yes. Mile2 explicitly positions the CISRM as preparation for both the Mile2 certification and ISACA's CRISC exam. The domain content overlaps significantly: risk identification and assessment, risk response and reporting, risk monitoring, and IS control design and monitoring are central to both certifications.

How much does the Mile2 CISRM cost?

Mile2 offers the CISRM as part of course-and-exam combo packages; the 4-day instructor-led course retails at approximately $2,500. Standalone exam pricing and retake fees should be confirmed directly with Mile2, as pricing can vary by delivery format and promotional offers.

Who should pursue the Mile2 CISRM?

The CISRM is designed for IT and IS professionals involved in risk identification, assessment, evaluation, response, monitoring, and IS control design and implementation. Target roles include risk managers, security officers, compliance professionals, privacy specialists, healthcare IT managers, and government personnel requiring systematic risk management expertise.