“Cement plaster” is just a general term. “Cement” means that it contains cement and “plaster” means that it’s applied soft and cures to a hard condition. It describes a lot of different systems/materials.
It looks like they parge-coated most of the exterior. They often use mortar for parge coats, but you never know what material someone will use. Parge coats are often used to hide problems or as a sacrificial covering for a deteriorating exterior wall cladding. Some of these are pretty brittle and that’s when you get thermal cracking, especially at the intersection of materials, like Larry mentioned . Some include polymers that provide better flexibility and durability.
If the home is 12 years old, the application of that material is almost certainly not original or it would be in much worse condition. I don’t think anyone would apply that to a nice brick exterior on an expensive home unless there was a problem of some sort so, what Barry said.
Also, it could be a stucco brown coat like Marcel suggested but covering brick with stucco would still be a response to a problem.
To evaluate the risk associated with whatever-it-is, it would have to be identified. I think the only way to ID it is lab testing.