OCEG GRC Professional Certification - GRCP Exam Practice Test

A. A general counsel

B. A governing board

C. A compliance unit

D. A risk manager

A. To escalate incidents for investigation and identify them as in-house or external.

B. To determine if, when, how, and what to disclose regarding unfavorable events.

C. To ensure that future events of similar nature are less likely to occur and are less harmful.

D. To provide incentives to employees for favorable conduct.

A. To prevent stakeholders from forming alliances against the organization.

B. To comply with industry regulations regarding stakeholder management.

C. To address the requests, wants, or expectations of stakeholders and inform the mission, vision, and objectives of the organization.

D. To ensure that all stakeholders receive equal consideration.

A. To set clear expectations of conduct for key internal stakeholders and the extended enterprise.

B. To meet regulatory requirements and establish compliance.

C. To have individual regulation-specific policies instead of a generic Code of Conduct.

D. To reduce the need for defined procedures and guidelines within the organization.

A. Reasonable assurance is provided by management as part of strategic planning, while limited assurance results from operational reviews and performance evaluations.

B. Reasonable assurance is provided by the Board of Directors as part of governance activities, while limited assurance results from employee self-assessments.

C. 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.

D. Reasonable assurance is provided by internal auditors as part of a risk assessment, while limited assurance results from external audits and regulatory examinations.

A. The proficiency in building and maintaining relationships with partners and suppliers who must implement Perform actions and controls

B. The ability to quickly change direction in Perform actions and controls when things change

C. The capability to manage and resolve conflicts and disputes regarding Perform actions and controls

D. The capacity to innovate and develop new ways to implement Perform actions and controls

A. They are focused on identifying and punishing non-compliant behavior within the organization

B. They are used to evaluate the management and governance controls with regard to achieving financial objectives

C. They are limited to financial audits and do not address other aspects of performance, risk, and compliance

D. They provide additional information beyond management and governance actions and controls to evaluate subject matter

A. Any automated analysis of information and findings

B. Any actual or perceived connection between inquiry responses and individual performance appraisals

C. Any inquiries that require identification of the respondent

D. Any use of technology-based inquiry methods

A. The negative, unfavorable effect of uncertainty on objectives

B. The level of innovation and technological advancement

C. The rate of return on investment and capital allocation

D. The quality of products and services offered to customers

A. Mission

B. Vision

C. Outcome

D. Values