GRCP EXAM QUESTIONS, GRCP BRAINDUMPS, GRCP REAL EXAMS

GRCP Exam questions, GRCP Braindumps, GRCP Real Exams

GRCP Exam questions, GRCP Braindumps, GRCP Real Exams

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OCEG GRCP Exam Syllabus Topics:

TopicDetails
Topic 1
  • 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 2
  • 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.
Topic 3
  • GRC Capability Model Details: This section of the exam measures the skills of GRC Strategy Makers and covers detailed components of the GRC Capability Model. It includes understanding various elements and practices, key actions, and controls necessary for effective governance, risk management, and compliance.
Topic 4
  • 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.

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OCEG GRC Professional Certification Exam Sample Questions (Q148-Q153):

NEW QUESTION # 148
What is the duality of compliance, and how does it relate to risk?

  • A. The duality of compliance involves addressing both compliance with obligations and compliance- related risks. Compliance involves meeting mandatory and voluntary obligations, while compliance- related risks involve addressing the risk of negative outcomes associated with non-compliance.
  • B. The duality of compliance refers to the trade-off between investing in compliance measures and allocating resources to other business areas.
  • C. The duality of compliance refers to the balance between financial gains and ethicalconsiderations in business decisions.
  • D. The duality of compliance refers to the distinction between domestic and international regulations that an organization must follow.

Answer: A

Explanation:
Theduality of compliancerecognizes two key aspects:
* Compliance with Obligations:
* Organizations must meet mandatory (legal/regulatory) and voluntary (standards/policies) obligations.
* Examples: Adhering to GDPR, HIPAA, or ISO standards.
* Compliance-Related Risks:
* Risks include fines, reputational damage, or operational disruptions resulting from non- compliance.
* Effective compliance programs proactively mitigate these risks.
* Why Other Options Are Incorrect:
* A: Compliance encompasses more than geographic distinctions in regulations.
* B: Resource allocation is a management issue, not the essence of compliance duality.
* D: Ethical considerations are part of broader governance, not specific to compliance duality.
References:
* ISO 37301 (Compliance Management Systems): Discusses compliance obligations and related risks.
* COSO ERM Framework: Connects compliance activities to risk management.


NEW QUESTION # 149
What are some examples of non-economic incentives that can be used to encourage favorable conduct?

  • A. Stock options, salary increases, bonuses, and profit-sharing
  • B. Appreciation, status, professional development
  • C. Health insurance, retirement plans, paid time off, and sick leave
  • D. Gift baskets, extra vacation time, and employee competitions

Answer: B


NEW QUESTION # 150
What is meant by the term "residual risk"?

  • A. The risk that remains after eliminating all threats
  • B. The level of risk in the presence of actions & controls
  • C. The risk that exists in all business activities
  • D. The risk that is transferred to a third party

Answer: B

Explanation:
Residual riskrefers to the level of risk that remainsafter actions and controls(such as mitigation efforts, safeguards, or risk treatment plans) have been applied. It is an inevitable part of risk management, as it is nearly impossible to eliminate all risks completely. Understanding and managing residual risk is critical for decision-making, especially in governance, risk, and compliance activities.
Key Concepts About Residual Risk:
* Definition:
* Residual risk =Inherent risk(risk before controls) #Impact of risk controls.
* Role in Risk Management:
* Residual risk helps organizations determine whether additional actions are necessary or whether the remaining risk is within the organization'srisk appetiteortolerance levels.
* Example:
* In cybersecurity, even after implementing firewalls, encryption, and employee training, there remains a residual risk of a data breach due to new and emerging threats.
Why Option C is Correct:
Residual risk is specifically defined as thelevel of risk in the presence of actions and controls, making Option C the correct answer.
Why the Other Options Are Incorrect:
* A. Risk transferred to a third party: Transferred risk is part of risk treatment (e.g., through insurance), but it does not define residual risk.
* B. Risk in all business activities: This refers to inherent risk, not residual risk.
* D. Risk remaining after eliminating all threats: It is nearly impossible to eliminate all threats; residual risk acknowledges what remains after controls are applied.
References and Resources:
* ISO 31000:2018- Risk Management Guidelines: Defines residual risk as the remaining risk after mitigation measures.
* NIST Risk Management Framework (RMF)- Highlights residual risk as a critical factor in risk assessment and decision-making.
* COSO ERM Framework- Discusses residual risk in the context of enterprise risk management.


NEW QUESTION # 151
What does it mean for an organization to "reliably achieve objectives" as part of Principled Performance?

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

Answer: A

Explanation:
"Reliably achieving objectives" as part ofPrincipled Performancereflects a balanced, ethical, and consistent approach to meeting organizational goals.
* Mission, Vision, and Balanced Objectives:
* The organization ensures that objectives align with its purpose and long-term aspirations.
* Thoughtful and Transparent Execution:
* Decision-making processes are deliberate and consider ethical implications, risk management, and stakeholder interests.
* Dependable Consistency:
* Consistently achieving objectives builds trust with stakeholders and demonstrates resilience.
* Why Other Options Are Incorrect:
* A: Focusing solely on short-term goals risks long-term sustainability.
* B: Measurable outcomes are important but do not capture the broader principles.
* D: Profitability is only one aspect of balanced objectives.
References:
* OCEG GRC Capability Model: Defines principled performance as achieving objectives while addressing uncertainty and acting with integrity.
* ISO 31000 (Risk Management): Aligns reliability with structured, ethical decision-making.


NEW QUESTION # 152
How can the Code of Conduct serve as a guidepost for organizations of all sizes and in all industries?

  • A. It is only applicable to large organizations in specific industries.
  • B. It is a starting point for policies and procedures in large organizations or those in highly regulated industries, while in small organizations that are less regulated it is the only guidance needed.
  • C. It sets out the principles, values, standards, or rules of behavior that guide the organization's decisions, procedures, and systems, serving as an effective guidepost.
  • D. It is a legally mandated document that must be established and followed by all organizations.

Answer: C

Explanation:
A Code of Conduct is a foundational document that articulates the principles, values, standards, and rules that guide an organization's behavior and decision-making processes.
Role of the Code of Conduct:
Serves as a reference point for all employees and stakeholders.
Promotes a consistent ethical culture and compliance with organizational values.
Applicability:
Effective across all industries and organization sizes as a baseline for ethical behavior and operational standards.
Why Other Options Are Incorrect:
A: The Code of Conduct is relevant for all organizations, not just large ones.
B: While important, it is not legally mandated for all organizations.
D: It is applicable to organizations of all sizes and industries, not limited to specific cases.
Reference:
OCEG GRC Capability Model: Emphasizes the Code of Conduct as a guide for decisions and behavior.
ISO 37001 (Anti-Bribery Management Systems): Discusses Codes of Conduct in fostering ethical standards.


NEW QUESTION # 153
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