Practice Free GRCP Exam Online Questions
In the IACM, what is the role of Assurance Actions & Controls?
- A . To assist assurance personnel in providing assurance services
- B . To assess new products and services for the market
- C . To analyze financial statements and prepare budgets
- D . To create a positive organizational culture and work environment
What is the term used to describe a measure that estimates the likelihood and impact of an event?
- A . Consequence
- B . Effect
- C . Condition
- D . Cause
What is the difference between prescriptive norms and proscriptive norms?
- A . Prescriptive norms are optional guidelines, while proscriptive norms are mandatory rules.
- B . Prescriptive norms are related to financial performance, while proscriptive norms are related to ethical behavior.
- C . Prescriptive norms are established by government regulations, while proscriptive norms are established by industry standards.
- D . Prescriptive norms encourage behavior the group deems positive, while proscriptive norms discourage behavior the group deems negative.
Why is it necessary to provide timely disclosures about the resolution of issues to relevant stakeholders?
- A . To escalate incidents for investigation and identify them as in-house or external.
- B . To ensure protection of anonymity and non-retaliation for reporters.
- C . To compound and accelerate the impact of favorable events.
- D . To meet legal requirements and provide confidence to stakeholders about the process.
What are the four dimensions used to assess Total Performance in the GRC Capability Model?
- A . Quality, Productivity, Flexibility, and Durability
- B . Accuracy, Precision, Speed, and Stability
- C . Effectiveness, Efficiency, Responsiveness, and Resilience
- D . Compliance, Consistency, Adaptability, and Robustness
What is the role of indicators in measuring progress toward objectives?
- A . Indicators are used to determine if the objectives must be changed in response to changes in the external or internal context.
- B . Indicators measure quantitative or qualitative progress toward an objective.
- C . Indicators are used to evaluate the appropriateness of the organization’s selection of objectives.
- D . Indicators are used to calculate the return on investment for various projects and initiatives.
Which design option is characterized by ceasing all activity or terminating sources that give rise to the opportunity, obstacle, or obligation?
- A . Share
- B . Accept
- C . Control
- D . Avoid
How does assurance help management and stakeholders gain confidence?
- A . It ensures policies and procedures meet regulatory standards
- B . It ensures financial statements are accurate and free from misstatements
- C . It helps identify and mitigate potential risks and threats to the organization
- D . It verifies that what stakeholders believe is happening, is actually happening
In the context of GRC, which is the best description of the role of assurance in an organization?
- A . Allocating financial resources and evaluating their use to manage the organization’s budget better.
- B . Providing the governing body with opinions on how well its objectives are being met based on expertise and experience.
- C . Designing and monitoring the organization’s information technology systems to be accurate and reliable so management can be assured of meeting established objectives.
- D . Objectively and competently evaluating subject matter to provide justified conclusions and confidence.
How can an organization know the concerns and needs of its stakeholder groups?
- A . By identifying and understanding the concerns and needs of both the organizations and specific people within them
- B . By requiring stakeholders to sign non-disclosure agreements then having conversations
- C . By conducting background checks on all stakeholders
- D . By hosting annual stakeholder appreciation events where executives can ask them what they want