Practice Free GRCP Exam Online Questions
Question #11
What is the importance of gaining subordinate buy-in when setting the direction for an organization?
- A . To determine the organization’s expansion and growth plans without internal conflict
- B . To establish the organization’s brand identity and image without conflict
- C . To ensure that the organization has sufficient staff to take on defined tasks
- D . To help subordinate units understand and define ways to contribute to the organization’s success, reducing the risk of strategic misalignment and engagement decay
Correct Answer: D
Question #12
Why is assurance never considered absolute?
- A . Because it is only applicable to certain industries and sectors
- B . Because the subject matter, assurance providers, information producers, and information consumers are all fallible
- C . Because it does not provide a written guarantee of the accuracy and reliability of the subject matter
- D . Because it is solely based on the opinions and judgments of the assurance provider
Correct Answer: B
Question #13
How are Key Performance Indicators (KPIs), Key Risk Indicators (KRIs), and Key Compliance Indicators (KCIs) used?
- A . KPIs help govern, manage, and provide assurance about performance related to an objective; KRIs help govern, manage, and provide assurance about risk related to an objective; KCIs help govern, manage, and provide assurance about compliance related to an objective
- B . KPIs are financial metrics, KRIs are operational metrics, and KCIs are customer-related metrics, all of which are used to determine executive bonuses
- C . KPIs are long-term goals, KRIs are short-term goals, and KCIs are intermediate goals, all of which are used to determine what decision-making criteria is required
- D . KPIs are used to measure the efficiency of business processes; KRIs are used to assess the risk assessment processes; and KCIs are used to evaluate the impact of changes, regulations and other obligations
Correct Answer: A
Question #14
What is the purpose of mapping objectives to one another?
- A . Mapping objectives is a way to reduce the need for communication and collaboration between different departments within the organization
- B . Mapping objectives shows how objectives impact one another and helps allocate resources to achieve the most important objectives and priorities
- C . Mapping objectives is only relevant for financial objectives and has no impact on non-financial objectives
- D . Mapping objectives allows the organization to ignore subordinate-level objectives and focus only on superior-level objectives
Correct Answer: B
Question #15
What is the primary focus of management actions and controls in the IACM?
- A . To oversee employees and meet target objectives for the unit being managed.
- B . To directly address opportunities, obstacles, and obligations.
- C . To minimize costs and maximize profits.
- D . To ensure strict adherence to external regulations and internal policies.
Correct Answer: B
Question #16
Which "most important stakeholder" judges whether an organization is producing, protecting, or destroying value?
- A . Customer
- B . Risk Manager
- C . Board
- D . Ethics Department
Correct Answer: A
Question #17
What practices are involved in analyzing and understanding an organization’s ethical culture?
- A . Developing a strategic plan to achieve the organization’s long-term goals for improving ethical culture
- B . Conducting a survey of employees every few years on their views about the organization’s commitment to ethical conduct
- C . Implementing a performance appraisal system to evaluate employee performance
- D . Analyzing the climate and mindsets about how the workforce generally demonstrates integrity
Correct Answer: D
Question #18
Which design option is characterized by implementing actions that govern and manage the opportunity, obstacle, or obligation according to its nature?
- A . Control
- B . Share
- C . Accept
- D . Avoid
Correct Answer: A
Question #19
In the context of the GRC Capability Model, what is culture defined as?
- A . A formal structure that is established by the leadership of an organization to ensure compliance with requirements, whether they are mandatory or voluntary obligations of the organization.
- B . An emergent property of a group of people caused by the interaction of individual beliefs, values, mindsets, and behaviors, and demonstrated by observable norms and articulated opinions.
- C . A set of written rules and guidelines that dictate the behavior of individuals within an organization.
- D . A collection of artifacts, symbols, and rituals that represent the history of an organization.
Correct Answer: B
Question #20
What is the purpose of defining design criteria?
- A . To identify the key stakeholders involved in the design process
- B . To guide, constrain, and conscribe how actions and controls are prioritized to achieve acceptable levels of risk, reward, and compliance
- C . To establish a timeline for the implementation of the design
- D . To determine the budget allocated for the design project
Correct Answer: B