OCEG GRCP GRC Professional Certification Exam Online Training

Question #11

How do GRC Professionals apply the concept of ‘maturity’ in the GRC Capability Model?

A . GRC Professionals apply maturity only to the highest level of the GRC Capability Model.
B . GRC Professionals apply maturity at all levels of the GRC Capability Model to assess preparedness to perform practices and support continuous improvement.
C . GRC Professionals use maturity to evaluate the performance of individual employees.
D . GRC Professionals use maturity to determine the budget allocation for GRC programs.

Question #12

In the Lines of Accountability Model, what is the role of the Second Line?

A . Individuals and Teams who are responsible for financial reporting and budgeting activities within the organization.
B . Individuals and Teams who establish performance, risk, and compliance programs for the First Line and provide oversight through frameworks, standards, policies, tools, and techniques.
C . Individuals and Teams who manage external relationships with stakeholders, investors, and regulators.
D . Individuals and Teams who provide legal advice and support to the organization in case of disputes
or litigation.

Question #13

What is the difference between reasonable assurance and limited assurance?

A . Reasonable assurance is provided by external auditors as part of a financial audit and indicates conformity to suitable criteria and freedom from material error, while limited assurance results from reviews, compilations, and other activities performed by competent personnel who are sufficiently objective about the subject matter.
B . Reasonable assurance is provided by internal auditors as part of a risk assessment, while limited assurance results from external audits and regulatory examinations.
C . Reasonable assurance is provided by the Board of Directors as part of governance activities, while limited assurance results from employee self-assessments.
D . Reasonable assurance is provided by management as part of strategic planning, while limited assurance results from operational reviews and performance evaluations.

Question #14

In the context of GRC, which is the best description of the role of assurance in an organization?

A . Allocating financial resources and evaluating their use to manage the organization’s budget better.
B . Providing the governing body with opinions on how well its objectives are being met based on expertise and experience.
C . Designing and monitoring the organization’s information technology systems to be accurate and reliable so management can be assured of meeting established objectives.
D . Objectively and competently evaluating subject matter to provide justified conclusions and confidence.

Question #15

In the context of assurance activities, what does the term "assurance objectivity" refer to?

A . To the degree to which an Assurance Provider can adhere to industry standards and best practices in performing audits.
B . To the degree to which an Assurance Provider can provide accurate and reliable information to stakeholders on which they can form an opinion about the subject matter themselves.
C . The degree to which an Assurance Provider can be impartial, disinterested, independent, and free to conduct necessary activities to form an opinion about the subject matter.
D . To the degree to which an Assurance Provider can minimize costs and maximize efficiency in performing audits.

Question #16

What are key compliance indicators (KCIs) associated with?

Question #17

What does it mean for an organization to "reliably achieve objectives" as part of Principled Performance?

A . It means achieving short-term goals regardless of the impact on long-term success.
B . It means having measurable outcomes.
C . It means achieving mission, vision, and balanced objectives thoughtfully, consistently, dependably, and transparently.
D . It means always achieving profitability targets and maximizing shareholder value.

Question #18

What is the difference between a mission and a vision?

A . The mission states the organization’s purpose and direction, while the vision is an aspirational objective that states what the organization aspires to be.
B . The mission is determined by external stakeholders, while the vision is determined by internal stakeholders.
C . The mission is a short-term financial goal, while the vision is a long-term non-financial goal.
D . The mission is what a for-profit organization should have, while the vision is for non-profit organizations.

Question #19

In the context of GRC, what is the importance of aligning objectives throughout the organization?

A . It ensures that superior-level objectives cascade to subordinate units and that subordinate units contribute to the most important objectives and priorities of the organization.
B . It enables the governing authority to only focus on the highest-level objectives that are tied to financial outcomes.
C . It frees the organization to focus solely on short-term financial performance.
D . It eliminates the need for excessive communication and collaboration between different departments within the organization.