GRCP exam

How is the efficiency of the LEARN component measured in terms of the use of capital?A . By measuring changes in the organization's market share and competitive position.B . By evaluating the return on investment from undertaking LEARN activities.C . By assessing the efficiency of using financial, physical, human, and...

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...

What are key compliance indicators (KCIs) associated with?A . Number of non-compliance events investigatedB . The level of employee training and understanding of requirementsC . The impact of environmental and social initiativesD . The degree to which obligations and requirements are addressedView AnswerAnswer: D Explanation: Key Compliance Indicators (KCIs) are...

What is the design option that involves ceasing all activity or terminating sources that give rise to the opportunity, obstacle, or obligation?A . AcceptB . ShareC . AvoidD . ControlView AnswerAnswer: C Explanation: Avoid is a risk management strategy that involves stopping activities or removing sources of risk entirely. Definition:...

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...

What is compliance, and how is it measured in an organization?A . Compliance is a measure of the degree to which obligations are proven to be addressed, and it is measured by assessing requirements, actions & controls to address requirements, and evidence of effectiveness.B . Compliance is the ability to...

How is the efficiency of the LEARN component measured in terms of the use of capital?A . By measuring changes in the organization's market share and competitive position.B . By evaluating the return on investment from undertaking LEARN activities.C . By assessing the efficiency of using financial, physical, human, and...

What is the essence or the central meaning of GRC?A . A connected and integrated approach that provides a pathway to Principled Performance by overcoming VUCA and disconnectionB . A system for monitoring and evaluating the performance of employees and teamsC . A set of guidelines and regulations for corporate...

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...

Which organization and its membership created the concepts of Principled Performance and GRC?A . IAPP (International Association of Privacy Professionals)B . AICPA (American Institute of Certified Public Accountants)C . ISACA (Information Systems Audit and Control Association)D . IFAC (International Federation of Accountants)E . IMA (Institute of Management Accountants)F . SCCE...