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Title: New GRCP Test Labs - GRCP Test Questions Fee [Print This Page]
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Title: New GRCP Test Labs - GRCP Test Questions Fee
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OCEG GRCP Exam Syllabus Topics:
TopicDetails
Topic 1
  • Review Component: This subsection focuses on reviewing and evaluating GRC practices to ensure continuous improvement. A critical skill evaluated is conducting audits and assessments to identify areas for enhancement in governance practices.
Topic 2
  • GRC Key Concepts: This section of the exam measures the skills of GRC Governance Professionals and covers essential concepts related to reliably achieving objectives, addressing uncertainty, and acting with integrity. It also includes an understanding of the Lines of Accountability™ and the Integrated Action & Control Model™, which provide frameworks for governance and risk management. A key skill assessed is the ability to apply these concepts to enhance organizational performance.
Topic 3
  • Align Component: This subsection covers aligning GRC practices with organizational objectives and regulatory requirements. A vital skill evaluated is the ability to integrate GRC processes into business operations effectively.
Topic 4
  • Perform Component: This subsection emphasizes executing GRC activities and implementing controls to manage risks effectively. A key skill assessed is the ability to perform risk assessments and implement necessary actions.

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OCEG GRC Professional Certification Exam Sample Questions (Q153-Q158):NEW QUESTION # 153
Why is monitoring important in the context of the REVIEW component?
Answer: D

NEW QUESTION # 154
Which of the following is most often responsible for balancing the competing needs of stakeholders and guiding, constraining, and conscribing the organization to achieve objectives reliably, address uncertainty, and act with integrity to meet these needs?
Answer: C

NEW QUESTION # 155
What is the term used to describe the outcome or potential outcome of an event?
Answer: B

NEW QUESTION # 156
What is the difference between "inherent effect" and "residual effect" of uncertainty?
Answer: A
Explanation:
The concepts of inherent effect and residual effect are critical in understanding the impact of risk controls and mitigation strategies in risk management.
Inherent Effect (Inherent Risk):
Refers to the level of uncertainty or risk before any actions, controls, or mitigation measures are implemented.
It represents the raw risk that exists naturally in the absence of preventive or corrective measures.
Residual Effect (Residual Risk):
Refers to the level of uncertainty or risk after actions, controls, and mitigation measures have been implemented.
It represents the remaining risk that an organization must accept or tolerate despite its efforts to reduce it.
Why Option B is Correct:
Option B accurately reflects the distinction:
Inherent effect = effect of uncertainty without controls.
Residual effect = effect of uncertainty with controls.
Options A, C, and D confuse the relationship between risk, reward, controls, and uncertainty and are therefore incorrect.
Relevant Frameworks and Guidelines:
ISO 31000 (Risk Management): Discusses inherent and residual risk as key components of risk evaluation and treatment.
COSO ERM Framework: Highlights the importance of assessing inherent and residual risks when evaluating the effectiveness of risk controls.
In summary, the inherent effect of uncertainty is observed before controls are applied, while the residual effect is the remaining uncertainty after implementing controls. This distinction is crucial for evaluating the effectiveness of risk mitigation strategies.

NEW QUESTION # 157
What type of incentives are established through compensation, reward, and recognition programs?
Answer: A
Explanation:
Economic incentivesrefer to tangible rewards, such as financial compensation, bonuses, benefits, and other forms of monetary recognition, that are designed to motivate employees and align their actions with organizational goals. Compensation, reward, and recognition programs are examples of economic incentives that directly influence employee behavior by providing measurable benefits.
Key Features of Economic Incentives:
* Compensation:
* Includes salaries, wages, and benefits provided as part of the employment package.
* Example: Offering a competitive salary to attract and retain skilled employees.
* Bonuses and Rewards:
* Incentives tied to performance metrics, such as sales targets, efficiency improvements, or successful project completion.
* Example: Providing a year-end bonus for meeting financial goals.
* Recognition Programs:
* While recognition can have a social component, it is often accompanied by tangible rewards, such as gift cards, stock options, or paid time off.
Why Option B is Correct:
Economic incentivesencompass rewards tied to financial and material benefits, which are the focus of compensation, reward, and recognition programs.
Why the Other Options Are Incorrect:
* A. Social Incentives: Social incentives are intangible rewards such as praise, respect, or team camaraderie. These are distinct from monetary and material incentives.
* C. Management Incentives: This term typically refers to rewards targeted specifically at managerial roles, not all employees.
* D. Individualized Incentives: While economic incentives can be tailored to individuals, the category here is "economic," not "individualized." References and Resources:
* ISO 31000:2018- Discusses the role of incentives in risk and performance management.
* COSO ERM Framework- Highlights the importance of incentives in aligning employee behavior with organizational objectives.

NEW QUESTION # 158
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