GRCP Practice Exam Questions and Answers

A.  

Mapping objectives not only at the enterprise level but also across all units shows how they impact one another and how resources may be best allocated

B.  

Mapping objectives not only at the enterprise level but also across all units is important for determining the compensation and bonuses of employees based on their contributions to achieving objectives

C.  

Mapping objectives not only at the enterprise level but also across all units is important for creating a visual representation of the organization’s hierarchy and reporting structure

D.  

Mapping objectives not only at the enterprise level but also across all units is important for identifying redundant objectives and eliminating them from the organization’s strategic plan

A.  

By evaluating the performance of managers and their teams involved in GRC processes

B.  

By acting as a tool for ensuring compliance with legal and regulatory requirements

C.  

By helping organizations determine the budget allocation for GRC programs and where to apply resources across the GRC capabilities

D.  

By providing a continuum with levels that allow organizations to assess their capability to perform practices, identify areas for improvement, and develop maturity incrementally from one level to the next

A.  

Learning Objective

B.  

Educational Needs

C.  

Skill Gap

D.  

Skill Set

A.  

It benefits the internal audit department

B.  

It reduces the need for employee training

C.  

It helps prioritize and execute across the organization

D.  

It is not necessary and has no benefits

A.  

Share

B.  

Accept

C.  

Control

D.  

Avoid

A.  

KPIs are subjective measures that are not based on any specific metrics or data

B.  

KPIs are indicators that help govern, manage, and provide assurance about performance related to an objective

C.  

KPIs are only relevant for external reporting and have no impact on internal decision-making

D.  

KPIs are used to determine employee compensation and bonuses

A.  

By determining the budget allocation for GRC programs and where resources should be applied

B.  

By evaluating the performance of departments and individual employees in the context of GRC needs in their roles

C.  

By ensuring compliance with legal and regulatory requirements across the organization as a whole and by department

D.  

By providing a holistic view of an organization’s GRC capability, evaluating its soundness, cost-effectiveness, agility and ability to withstand disruptions

A.  

Governing risk and compliance

B.  

Governance, risk, and compliance

C.  

Governance, risk, and controls

D.  

Government, regulation, and controls

A.  

Likelihood and impact

B.  

Probability and consequence

C.  

Certainty and effect

D.  

Accuracy and precision

A.  

It showcases the achievements of the organization's leadership team

B.  

It creates a competitive environment among different units within the organization

C.  

It identifies underperforming employees and takes corrective action

D.  

It allows for the coordination of activities