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OCEG GRCP Exam Syllabus Topics:
Topic
Details
Topic 1
- Learn Component: This subsection focuses on the learning aspect of the GRC Capability Model, emphasizing foundational knowledge necessary for effective governance practices. A key skill assessed is understanding basic GRC principles to support strategic initiatives.
Topic 2
- Review Component: This subsection focuses on reviewing and evaluating GRC practices to ensure continuous improvement. A critical skill evaluated is conducting audits and assessments to identify areas for enhancement in governance practices.
Topic 3
- Perform Component: This subsection emphasizes executing GRC activities and implementing controls to manage risks effectively. A key skill assessed is the ability to perform risk assessments and implement necessary actions.
OCEG GRC Professional Certification Exam Sample Questions (Q149-Q154):
NEW QUESTION # 149
What is the role of compliance management systems and key compliance indicators (KCIs) in an organization?
- A. To measure the degree to which obligations and requirements are addressed
- B. To monitor and evaluate the effectiveness of internal controls and procedures
- C. To ensure adherence to ethical standards and codes of conduct
- D. To deliver compliance training to employees
Answer: A
Explanation:
Compliance Management Systems (CMS)andKey Compliance Indicators (KCIs)are essential tools for monitoring and managing an organization's adherence to legal, regulatory, and ethical obligations. They provide metrics and frameworks to assess compliance performance, identify gaps, and drive continuous improvement.
Role of CMS and KCIs:
* Measuring Compliance:
* KCIs measure how well the organization meets its compliance obligations (e.g., adherence to GDPR, HIPAA, or SOX).
* Metrics might include the percentage of completed regulatory filings or the number of compliance incidents reported and resolved.
* Identifying Gaps and Risks:
* KCIs help identify areas where compliance efforts fall short, enabling organizations to address risks proactively.
* Promoting Continuous Improvement:
* By tracking performance over time, KCIs allow organizations to refine policies, training programs, and internal controls.
Why Option B is Correct:
The primary role of compliance management systems and KCIs is to measure how effectively obligations and requirements are being addressed.
Why the Other Options Are Incorrect:
* A: While compliance training is important, CMS and KCIs go beyond training to monitor overall compliance performance.
* C: Adherence to ethical standards is part of compliance, but KCIs focus on broader performance metrics, not just ethics.
* D: Evaluating internal controls is a broader GRC activity and not the specific purpose of KCIs, which focus on compliance performance.
References and Resources:
* ISO 37301:2021- Compliance Management Systems Guidelines.
* NIST CSF- Includes compliance as part of its risk management strategy.
* COSO Internal Control - Integrated Framework- Highlights the role of compliance in internal controls.
NEW QUESTION # 150
What is a consideration to keep in mind when using economic incentives to encourage favorable conduct?
- A. Ensure that any unions or employee organizations approve them
- B. Ensure that incentives are not "perverse incentives" that encourage adverse conduct
- C. Ensure that economic incentives are only provided to senior management
- D. Ensure that economic incentives are based solely on individual performance metrics
Answer: B
NEW QUESTION # 151
Why is it necessary to provide timely disclosures about the resolution of issues to relevant stakeholders?
- A. To ensure protection of anonymity and non-retaliation for reporters.
- B. To compound and accelerate the impact of favorable events.
- C. To meet legal requirements and provide confidence to stakeholders about the process.
- D. To escalate incidents for investigation and identify them as in-house or external.
Answer: C
Explanation:
Timely disclosures about the resolution of issues are necessary to comply with legal requirements and reassure stakeholders that the organization is effectively managing risks and issues.
Purpose of Timely Disclosures:
Compliance: Meet regulatory requirements for transparency and accountability.
Stakeholder Confidence: Demonstrates the organization's commitment to addressing issues responsibly.
Benefits:
Builds trust with stakeholders, including employees, investors, and regulators.
Reduces reputational risks associated with delayed or incomplete disclosures.
Why Other Options Are Incorrect:
A: Escalation is an internal process, not related to stakeholder disclosures.
B: While anonymity is important, it is not the primary reason for disclosure.
C: Disclosures do not accelerate favorable events; they address issue resolution.
Reference:
ISO 37002 (Whistleblowing Management Systems): Discusses the importance of transparency in issue resolution.
OCEG GRC Capability Model: Recommends timely disclosures for stakeholder confidence.
NEW QUESTION # 152
In the IACM, what is the role of Correct/Recover Actions & Controls?
- A. To ensure that unfavorable events do not affect the profitability of the organization
- B. To slow down or decrease the impact of unfavorable events and return the organization to its original, stable, or superior state after harm has occurred
- C. To ensure that all employees adhere to the company's code of conduct
- D. To assess any damage done to the company from non-compliance
Answer: B
NEW QUESTION # 153
Why is monitoring important in the context of the REVIEW component?
- A. Because it contributes to employee performance evaluations.
- B. Because it generates financial reports for stakeholders.
- C. Because it helps management and the governing authority understand progress toward objectives and whether opportunities, obstacles, and obligations are addressed.
- D. Because it is a required task for external regulatory compliance.
Answer: C
NEW QUESTION # 154
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