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Authorized GRCP Pdf & GRCP Exam Preview
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OCEG GRC Professional Certification Exam Sample Questions (Q26-Q31):NEW QUESTION # 26
Can the Second Line provide assurance over First Line activities, and under what conditions?
- A. Yes, the Second Line may provide assurance over First Line activities so long as the activities under examination were not designed or performed by the Second Line, and the Second Line personnel have the required degree of Assurance Objectivity and Assurance Competence relative to the subject matter and desired Level of Assurance
- B. Yes, the Second Line can provide assurance over First Line activities regardless of the design or performance of the activities because it has a higher level of authority and the necessary skills
- C. No, the Second Line cannot provide assurance over First Line activities because it is focused on strategic planning and long-term goals, not on assurance activities
- D. No, the Second Line cannot provide assurance over First Line activities because it lacks the necessary authority and jurisdiction
Answer: A
NEW QUESTION # 27
Which Critical Discipline of the Protector Skillset includes skills to enhance stakeholder confidence and perform assessments?
- A. Security & Continuity
- B. Strategy & Performance
- C. Governance & Oversight
- D. Audit & Assurance
Answer: D
Explanation:
TheAudit & Assurancediscipline in the Protector Skillset focuses on assessing organizational activities, processes, and systems to enhancestakeholder confidenceby ensuring transparency, reliability, and compliance.
* Enhancing Stakeholder Confidence:
* By performing audits and assurance activities, organizations validate that processes are functioning as intended and aligned with objectives and regulations.
* This builds trust among stakeholders, including investors, customers, and regulators.
* Performing Assessments:
* Auditors evaluate internal controls, risk management processes, and compliance mechanisms to ensure effectiveness.
* Examples include financial audits, operational audits, and compliance audits.
References:
* IIA Standards: Focuses on internal auditing and assurance practices.
* COSO Framework: Provides guidance for assessing internal control systems.
NEW QUESTION # 28
What is the essence or the central meaning of GRC?
- A. A system for monitoring and evaluating the performance of employees and teams
- B. A framework for managing financial risks and ensuring fiscal responsibility
- C. A connected and integrated approach that provides a pathway to Principled Performance by overcoming VUCA and disconnection
- D. A set of guidelines and regulations for corporate governance and ethical conduct
Answer: C
Explanation:
The essence ofGRC (Governance, Risk, and Compliance)lies in creating aconnected and integrated approachthat enables organizations to achieve their goals throughPrincipled Performancewhile managing uncertainty and fostering ethical operations.
* Pathway to Principled Performance: GRC focuses on achieving a balance between objectives, risks, and compliance in a manner that aligns with ethical practices and organizational values.
* Overcoming VUCA:
* VUCAstands forVolatility, Uncertainty, Complexity, and Ambiguity, which are common challenges in modern organizational environments.
* GRC integrates processes, communication, and systems to navigate these challenges effectively.
* Avoiding Disconnection: Disconnection in governance, risk management, and compliance activities can lead to inefficiency, misaligned objectives, and increased vulnerability. GRC ensures seamless integration and collaboration across departments.
References:
* OCEG's GRC Capability Model: Highlights how GRC helps achieve Principled Performance by harmonizing governance, risk, and compliance with organizational goals.
* COSO and ISO 31000 Frameworks: Stress the importance of connected approaches for better risk management and performance outcomes.
NEW QUESTION # 29
What is the term used to describe a cause that has the potential to eventually result in benefit?
- A. Prospect
- B. Target outcome
- C. Objective
- D. Venture
Answer: A
Explanation:
A prospect refers to a cause or opportunity that has the potential to result in benefit or positive outcomes for the organization.
Definition of Prospect:
Represents a potential opportunity or favorable situation that may align with organizational objectives.
Example: A new market trend offering growth opportunities.
Relation to Objectives:
Prospects are considered during strategic planning and risk assessments to capitalize on opportunities.
Why Other Options Are Incorrect:
A: Venture refers to initiatives or projects, not causes.
B: Objective is a goal, not a potential cause.
D: Target outcome is the result of achieving a goal, not a cause.
Reference:
OCEG GRC Capability Model: Discusses prospects as potential sources of benefit.
ISO 31000 (Risk Management): Highlights opportunities as sources of benefit.
NEW QUESTION # 30
How can inconsistent incentives impact the perception of employees and business partners?
- A. They can reduce the risk of legal disputes
- B. They can improve the company's public image
- C. They can increase employee motivation and productivity
- D. They can lead to perceptions of favoritism and mistrust
Answer: D
NEW QUESTION # 31
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