GRCP LATEST STUDY GUIDE, NEW GRCP EXAM FORMAT

GRCP Latest Study Guide, New GRCP Exam Format

GRCP Latest Study Guide, New GRCP Exam Format

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Tags: GRCP Latest Study Guide, New GRCP Exam Format, GRCP Test Simulator Online, GRCP New Dumps Files, GRCP Test Questions Vce

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OCEG GRC Professional Certification Exam Sample Questions (Q133-Q138):

NEW QUESTION # 133
In the IACM, what is the role of Assurance Actions & Controls?

  • A. To assist assurance personnel in providing assurance services
  • B. To analyze financial statements and prepare budgets
  • C. To create a positive organizational culture and work environment
  • D. To assess new products and services for the market

Answer: A

Explanation:
Assurance Actions & Controlsin theIACMare designed to validate and confirm that the organization's objectives are being achieved and that processes, controls, and systems are functioning effectively.
Key Points About Assurance Actions & Controls:
* Purpose:
* Assurance provides independent and objective evaluations of processes, controls, and outcomes to ensure reliability and accountability.
* Examples include internal audits, compliance assessments, and external certifications.
* Support for Assurance Personnel:
* These controls assist assurance professionals, such as auditors or compliance officers, in delivering credible and effective assurance services.
Why Option A is Correct:
The role of Assurance Actions & Controls is toassist assurance personnelin delivering assuranceservices by providing reliable data, processes, and evaluations.
Why the Other Options Are Incorrect:
* B: Assessing new products is a business development function, not an assurance activity.
* C: Financial statement analysis falls under financial management, not assurance controls.
* D: Creating a positive culture is a leadership activity, not an assurance function.
References and Resources:
* COSO Internal Control - Integrated Framework- Discusses assurance activities.
* IIA Standards- Provide guidance on assurance roles in internal auditing.


NEW QUESTION # 134
In the IACM, what is the role of Promote/Enable Actions & Controls?

  • A. To set performance metrics for all actions and controls
  • B. To increase the likelihood of favorable events
  • C. To establish clear lines of communication within the organization
  • D. To establish and enable controls that mitigate potential security threats

Answer: B

Explanation:
Promote/Enable Actions & Controlsin theIACMfocus on creating conditions that foster positive outcomes and support the achievement of organizational objectives. These actions aim to increase the likelihood of favorable events by empowering employees, improving processes, and encouraging desirable behaviors.
Key Points About Promote/Enable Actions & Controls:
* Purpose:
* These actions are designed to enhance performance, innovation, and collaboration across the organization.
* Examples include leadership development programs, employee incentives, and knowledge- sharing platforms.
* Alignment with Organizational Objectives:
* Promote/Enable controls help align employee actions and behaviors with strategic goals, ensuring that favorable outcomes are achieved.
* Examples:
* Offering training programs to improve skills and increase employee performance.
* Establishing rewards programs to motivate employees.
Why Option A is Correct:
Promote/Enable Actions & Controls aim toincrease the likelihood of favorable events, aligning employees and processes with organizational objectives.
Why the Other Options Are Incorrect:
* B: While communication may support favorable outcomes, it is not the primary focus of Promote
/Enable actions.
* C: Setting performance metrics is part of governance or monitoring, not promotion or enablement.
* D: Mitigating security threats is a preventive or corrective action, not a Promote/Enable activity.
References and Resources:
* Balanced Scorecard Framework- Emphasizes enabling actions for strategic alignment.
* ISO 9001:2015- Promotes a culture of continual improvement and innovation.


NEW QUESTION # 135
How can an organization evaluate the adequacy of current levels of residual risk/reward and compliance?

  • A. The organization can evaluate adequacy by hiring an outside auditor to make an assessment.
  • B. The organization can evaluate adequacy by removing controls and seeing if the levels change.
  • C. The organization can evaluate adequacy by looking at the number of lawsuits and enforcement actions.
  • D. The organization can use analysis criteria to evaluate the adequacy of current levels and determine if additional analysis is required.

Answer: D

Explanation:
Organizations evaluate the adequacy of residual risk/reward and compliance by applying structured analysis criteria to determine whether current levels align with their objectives and risk appetite.
Analysis Criteria:
Specific benchmarks or standards are used to measure whether residual risks and compliance efforts meet organizational expectations.
Criteria are based on factors like likelihood, impact, regulatory requirements, and strategic goals.
Process:
Evaluate current levels using established criteria.
Identify gaps and determine if further analysis or additional controls are required.
Why Other Options Are Incorrect:
A: Lawsuits and enforcement actions are outcomes, not methods of evaluating adequacy.
C: Removing controls introduces risks and is not a recommended evaluation method.
D: While external auditors provide insights, adequacy evaluation starts internally with analysis criteria.
Reference:
COSO ERM Framework: Provides guidance on evaluating residual risk and compliance adequacy.
ISO 31000 (Risk Management): Recommends using criteria to assess and refine risk management practices.


NEW QUESTION # 136
How do detective actions and controls contribute to managing performance?

  • A. They indicate progress toward objectives by detecting events that help or hinder performance.
  • B. They detect and correct unfavorable events, which will lead to an increase in favorable events.
  • C. They provide investigative capabilities in every part of the organization.
  • D. They focus on promoting favorable events, which will lead to the reduction of unfavorable events.

Answer: A

Explanation:
Detective actions and controlsplay a critical role inidentifying events that affect progress toward objectives, whether they are positive or negative.
* Role of Detective Controls:
* Monitor performance indicators to detect deviations from expected outcomes.
* Identify trends, anomalies, or incidents that help or hinder progress.
* Contribution to Performance Management:
* Provides insights into areas requiring attention or adjustment.
* Enhances decision-making by offering real-time data on organizational progress.
* Why Other Options Are Incorrect:
* A: Detective controls focus on monitoring, not investigative capabilities.
* B: While they detect unfavorable events, correction is a separate function (corrective controls).
* D: Promoting favorable events is a proactive control function, not detective.
References:
* COSO ERM Framework: Discusses the use of detective controls in monitoring performance.
* OCEG GRC Capability Model: Highlights the role of detective actions in identifying performance deviations.


NEW QUESTION # 137
What is the difference between an organization's mission and vision?

  • A. The mission is a financial target, while the vision is a non-financial target.
  • B. The mission is focused on external stakeholders, while the vision is focused on internal stakeholders.
  • C. The mission is an objective that states who the organization serves, what it does, and what it hopes to achieve, while the vision is an aspirational objective that states what the organization aspires to be and why it matters.
  • D. The mission is a short-term goal or set of goals, while the vision is a long-term goal or set of goals.

Answer: C

Explanation:
Missionandvisionserve distinct roles in defining an organization's purpose and aspirations.
* Mission:
* Defines the organization's purpose, target audience, and core activities.
* Answers: "Who are we, what do we do, and why do we exist?"
* Example: "To deliver affordable healthcare services to underserved communities."
* Vision:
* Articulates an aspirational future state and the broader impact the organization seeks to achieve.
* Answers: "What do we aspire to become and why does it matter?"
* Example: "To be the global leader in innovative and inclusive healthcare solutions."
* Why Other Options Are Incorrect:
* A: Both mission and vision extend beyond financial targets.
* C: Mission and vision are not distinguished solely by timeframe.
* D: Both mission and vision address internal and external stakeholders.
References:
* Corporate Strategy Frameworks: Discusses mission and vision as complementary elements of strategic planning.
* Balanced Scorecard: Highlights mission and vision alignment in organizational strategy.


NEW QUESTION # 138
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