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OCEG GRCP Certification Exam & Test GRCP Topics Pdf
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OCEG GRCP Exam Syllabus Topics:
Topic
Details
Topic 1
Topic 2
Topic 3
OCEG GRC Professional Certification Exam Sample Questions (Q103-Q108):
NEW QUESTION # 103
The Critical Disciplines skills of Audit & Assurance help organizations through which of the following?
Answer: A
NEW QUESTION # 104
What type of incentives include appreciation, status, and professional development?
Answer: D
NEW QUESTION # 105
Which design option is characterized by ceasing all activity or terminating sources that give rise to the opportunity, obstacle, or obligation?
Answer: A
Explanation:
TheAvoidoption in risk, opportunity, or obligation management refers toeliminating the sourceof the risk, opportunity, or compliance obligation altogether. This design option is used when the potential negative consequences outweigh the benefits or when the organization determines that the situation cannot be effectively managed or controlled.
Key Characteristics of Avoidance:
* Ceasing Activity:
* Discontinuing operations, processes, or activities that introduce the risk or obligation.
* Example: A company decides not to enter a market with excessively strict compliance regulations to avoid associated risks.
* Terminating Sources:
* Stopping engagement with entities or processes that create unacceptable risks or obligations.
* Example: Ending a partnership with a vendor that does not comply with critical security standards.
* Strategic Use:
* Avoidance is often chosen when the risk is beyond the organization's risk tolerance or when mitigation is not cost-effective or feasible.
Why Option D is Correct:
TheAvoidoption involves ceasing activities or terminating sources to eliminate the risk, opportunity, or obligation, aligning precisely with the description in the question.
Why the Other Options Are Incorrect:
* A. Share: Involves transferring a portion of the risk or obligation to another party (e.g., through contracts or insurance).
* B. Accept: Involves acknowledging and tolerating the risk, opportunity, or obligation without additional action.
* C. Control: Involves implementing measures to manage or mitigate the risk, opportunity, or obligation, not ceasing it entirely.
References and Resources:
* ISO 31000:2018- Risk Management Guidelines, which include avoidance as a risk treatment option.
* COSO ERM Framework- Discusses avoidance as a method for managing unacceptable risks.
NEW QUESTION # 106
What is the term used to describe the outcome or potential outcome of an event?
Answer: D
Explanation:
The termConsequencerefers to the outcome or potential outcome of an event, which can be positive, negative, or neutral.
* Definition:
* Consequences are the results or effects that occur when an event happens, influencing objectives either favorably or unfavorably.
* Relation to Risk:
* In risk management, consequences are analyzed to understand the implications of identified risks.
* Why Other Options Are Incorrect:
* B(Impact): Refers to the magnitude or extent of a consequence.
* C(Condition): Represents the state or circumstances surrounding an event, not its outcome.
* D(Effect): Similar to consequence but used in a broader context not specific to events.
References:
* ISO 31000 (Risk Management): Defines consequences as outcomes that influence objectives.
* COSO ERM Framework: Analyzes consequences in the context of risk events.
NEW QUESTION # 107
What is the difference between an organization's mission and vision?
Answer: D
Explanation:
The mission and vision statements serve different but complementary purposes:
Mission:
Definition: Describes the organization's purpose, who it serves, and its core objectives.
Example: "To provide affordable healthcare solutions to underserved communities." Vision:
Definition: Outlines the aspirational future state of the organization and why it matters.
Example: "To be the world's leading provider of sustainable healthcare solutions." Why Other Options Are Incorrect:
A: Both mission and vision address both internal and external stakeholders.
B: Mission and vision are not strictly defined by short-term or long-term timeframes.
D: Neither is restricted to financial or non-financial targets.
Reference:
Balanced Scorecard Framework: Differentiates mission and vision in organizational strategy.
OCEG GRC Capability Model: Explains the alignment of mission and vision with strategic goals.
NEW QUESTION # 108
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