Free GRC Professional Certification Exam GRCP Exam Practice Test

What is the term used to describe a cause that has the potential to eventually result in benefit?

• Venture
• Objective
• Prospect
• Target outcome

Who has ultimate accountability (plenary accountability) for the governance, management, and assurance of performance, risk, and compliance in the Lines of Accountability Model?

• The Fifth Line, or the Governing Authority (Board).
• The Second Line, or the individuals and teams that establish performance, risk, and compliance
• programs.
• The First Line, or the individuals and teams involved in operational activities.
• The Third Line, or the individuals and teams that provide assurance.

Which aspect of culture includes how the organization objectively examines and judges the effectiveness, efficiency, responsiveness, and resilience of critical activities and outcomes?

• Management culture
• Performance culture
• Governance culture
• Assurance culture

In the context of GRC, which is the best description of the role of assurance in an organization?

• Allocating financial resources and evaluating their use to manage the organization’s budget better.
• Providing the governing body with opinions on how well its objectives are being met based on expertise and experience.
• Designing and monitoring the organization’s information technology systems to be accurate andreliable so management can be assured of meeting established objectives.
• Objectively and competently evaluating subject matter to provide justified conclusions and confidence.

Which organization and its membership created the concepts of Principled Performance and GRC?

• IAPP (International Association of Privacy Professionals)
• AICPA (American Institute of Certified Public Accountants)
• ISACA (Information Systems Audit and Control Association)
• IFAC (International Federation of Accountants)
• IMA (Institute of Management Accountants)
• SCCE (Society of Corporate Compliance and Ethics)
• ACFE (Association of Certified Fraud Examiners)
• The Financial Accounting Standards Board (FASB)
• IIA (Institute of Internal Auditors)
• The International Organization for Standardization (ISO)
• The OCEG community of GRC Professionals

What type of incentives include appreciation, status, and professional development?

• Economic Incentives
• Contractual Incentives
• Personal Incentives
• Non-Economic Incentives

What are beliefs, and how do they influence behavior within an organization?

• Beliefs are ideas and assumptions held by individuals or groups, often shaped by experiences and perceptions, that influence behavior by informing the values and principles that guide actions and decisions.
• Beliefs are the organization’s commitments to mandatory and voluntary obligations, and they influence behavior by determining the extent to which individuals fulfill obligations and honor promises.
• Beliefs are the organization’s understanding of its mission, vision, and values, and they influencebehavior by aligning actions with the organization's higher purpose and long-term goals.
• Beliefs are the organization’s perceptions of risk and uncertainty, and they influence behavior by
• guiding actions and controls to address compliance-related risks.

Why is it essential to ensure that every issue or incident is addressed?

• To provide incentives to employees for favorable conduct.
• To compound and accelerate the impact of favorable events.
• To maintain employee and other stakeholder confidence in the system’s effectiveness.
• To escalate incidents for investigation and identify them as in-house or external.

How can an organization ensure that notifications are handled by the right organizational units?

• By establishing a single point for referral regardless of the topic or type
• By prioritizing, substantiating, validating, and routing notifications based on topic, type, and severity
• By disregarding any notifications that do not meet specific criteria or thresholds so the remainder can be more efficiently routed
• By requiring that all notifications be reviewed by the general counsel before any action is taken

What is the relationship between monitoring and assurance activities in identifying opportunities forimprovement?

• Monitoring activities focus on improvement, while assurance activities focus on risk assessment
• Monitoring and assurance activities have no relationship and operate independently
• Monitoring activities are related to financial improvement, while assurance activities are related to operational improvement
• Both monitoring and assurance activities identify opportunities to improve total performance