Practice Free GRCP Exam Online Questions
Question #51
Why is monitoring important in the context of the REVIEW component?
- A . Because it generates financial reports for stakeholders.
- B . Because it contributes to employee performance evaluations.
- C . Because it is a required task for external regulatory compliance.
- D . Because it helps management and the governing authority understand progress toward objectives and whether opportunities, obstacles, and obligations are addressed.
Correct Answer: D
Question #52
What is the purpose of after-action reviews?
- A . They are used to provide incentives to employees for favorable conduct
- B . They are used to ensure the protection of anonymity and non-retaliation for reporters
- C . They uncover root causes of events and help improve proactive, detective, and responsive actions and controls
- D . They are used to escalate incidents for investigation and identify them as in-house or external
Correct Answer: C
Question #53
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 (Society of Corporate Compliance and Ethics)
- G . ACFE (Association of Certified Fraud Examiners)
- H . The Financial Accounting Standards Board (FASB)
- I . IIA (Institute of Internal Auditors)
- J . The International Organization for Standardization (ISO)
- K . The OCEG community of GRC Professionals
Correct Answer: K
Question #54
How can an organization ensure that notifications are handled by the right organizational units?
- A . By establishing a single point for referral regardless of the topic or type
- B . By prioritizing, substantiating, validating, and routing notifications based on topic, type, and severity
- C . By disregarding any notifications that do not meet specific criteria or thresholds so the remainder can be more efficiently routed
- D . By requiring that all notifications be reviewed by the general counsel before any action is taken
Correct Answer: B
Question #55
How can the Code of Conduct serve as a guidepost for organizations of all sizes and in all industries?
- A . 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.
- B . It is a legally mandated document that must be established and followed by all organizations.
- 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 only applicable to large organizations in specific industries.
Correct Answer: C
Question #56
What are the four dimensions of Total Performance that should be considered across all components and elements of the GRC Capability Model?
- A . Vision, Mission, Strategy, and Tactics
- B . Input, Process, Output, and Feedback
- C . Planning, Execution, Monitoring, and Control
- D . Effectiveness, Efficiency, Responsiveness, and Resilience
Correct Answer: D
Question #57
What is the goal of implementing communication practices in an organization?
- A . To minimize the number of communication channels used within the organization and increase efficiency
- B . To ensure that all communication is formal and documented as required by law and regulation
- C . To eliminate informal communications that may provide incorrect information
- D . To address opportunities, obstacles, and obligations by interacting with the right audiences at the right time with the right information and intelligence
Correct Answer: D
Question #58
Can the Second Line provide assurance over First Line activities, and under what conditions?
- A . No, the Second Line cannot provide assurance over First Line activities because it is focused on strategic planning and long-term goals, not on assurance activities
- B . Yes, the Second Line can provide assurance over First Line activities regardless of the design or performance of the activities because it has a higher level of authority and the necessary skills
- C . Yes, the Second Line may provide assurance over First Line activities so long as the activities under examination were not designed or performed by the Second Line, and the Second Line personnel have the required degree of Assurance Objectivity and Assurance Competence relative to the subject matter and desired Level of Assurance
- D . No, the Second Line cannot provide assurance over First Line activities because it lacks the necessary authority and jurisdiction
Correct Answer: C
Question #59
Which Critical Discipline of the Protector Skillset includes skills to enhance stakeholder confidence and perform assessments?
- A . Audit & Assurance
- B . Security & Continuity
- C . Governance & Oversight
- D . Strategy & Performance
Correct Answer: A
Question #60
A self-legitimizing person, group, or other entity with a direct or indirect invested interest in an organization’s actions because of the perceived or actual impact is referred to as?
- A . Shareholder
- B . Stakeholder
- C . Executive Team
- D . Customer
Correct Answer: B