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OCEG GRC Professional Certification Exam Sample Questions (Q133-Q138):
NEW QUESTION # 133
How can organizations recover from negative conduct, events, and conditions, and correct identified weaknesses within their governance, management, and assurance processes?
- A. Through the use of both technology and physical actions and controls to recover from negative conduct and conditions, correct identified weaknesses, and establish barriers to future misconduct.
- B. Through focusing on promoting positive behavior and establishing reward systems for employees who identify weaknesses in the systems of control.
- C. Through the application of responsive actions and controls that recover from unfavorable conduct, events, and conditions; correct identified weaknesses; execute necessary discipline; recognize and reinforce favorable conduct; and deter future undesired conduct or conditions.
- D. Through open and transparent acknowledgment of the identified unfavorable conduct or events and acceptance of responsibility by the CEO.
Answer: C
Explanation:
Organizations recover from negative events and correct governance weaknesses by implementingresponsive actions and controlsthat address the root causes and prevent recurrence.
* Responsive Actions and Controls:
* Recover: Mitigate the consequences of unfavorable events and restore normal operations.
* Correct: Address weaknesses in governance, management, and assurance systems.
* Discipline: Enforce accountability for misconduct or non-compliance.
* Reinforce: Recognize and promote positive behaviors to strengthen organizational culture.
* Deter: Implement measures to prevent similar issues in the future.
* Why Other Options Are Incorrect:
* A: Acknowledgment is important but does not constitute a complete recovery plan.
* C: Technology and physical controls are tools but do not encompass the full recovery process.
* D: Reward systems are supplementary and do not address corrective or responsive actions comprehensively.
References:
* OCEG GRC Capability Model: Discusses responsive actions to address and recover from adverse events.
* COSO ERM Framework: Highlights corrective and preventive measures in governance and assurance.
NEW QUESTION # 134
What is the role of key performance indicators (KPIs)?
- A. KPIs are used to determine employee compensation and bonuses
- B. KPIs are only relevant for external reporting and have no impact on internal decision-making
- C. KPIs are subjective measures that are not based on any specific metrics or data
- D. KPIs are indicators that help govern, manage, and provide assurance about performance related to an objective
Answer: D
Explanation:
Key Performance Indicators (KPIs) are measurable values that track and assess the performance of an organization, a team, or an individual in achieving specific objectives.
Role of KPIs in GRC:
Governance: KPIs provide decision-makers with insights into how effectively the organization is achieving its strategic goals.
Risk Management: KPIs help identify deviations or risks that may affect the achievement of objectives.
Compliance: KPIs monitor adherence to regulatory requirements, policies, and standards.
Why Option B is Correct:
KPIs are used to govern, manage, and provide assurance about performance against established objectives.
They are not subjective (Option A) but are based on quantifiable metrics.
KPIs are relevant for both internal decision-making and external reporting (Option C).
While KPIs may influence compensation and bonuses (Option D), their primary role extends far beyond this narrow scope.
Relevant Frameworks and Guidelines:
ISO 30414 (Human Capital Reporting): Defines metrics for evaluating workforce-related KPIs.
COSO ERM Framework: Highlights the use of KPIs in monitoring risks and achieving objectives.
In summary, KPIs are essential tools in GRC for tracking performance, managing risks, and ensuring alignment with organizational goals.
NEW QUESTION # 135
What considerations should be taken into account when protecting information associated with notifications?
- A. Knowing that any legal or regulatory requirements related to data privacy do not apply to hotline reports
- B. Allowing unrestricted access to notification and follow-up information by the notifier so that they can see the organization is responding appropriately
- C. Knowing that confidentiality and anonymity rights are the same thing
- D. Ensuring pathways comply with mandatory requirements in the locale where the notification originates and the organization operates
Answer: D
Explanation:
Protecting information associated with notifications is critical for maintaining trust, ensuring compliance with legal and regulatory requirements, and safeguarding the privacy and confidentiality of all parties involved.
Key Considerations for Protecting Notification Information:
Compliance with Local Requirements: Organizations must adhere to data privacy and whistleblower protection regulations in the jurisdictions where notifications are submitted and where the organization operates. Examples include GDPR (EU) and CCPA (California).
Confidentiality: Protecting the identity of the notifier and ensuring that information is only accessible to authorized personnel.
Anonymity: Ensuring that whistleblowers can submit notifications without revealing their identities if they choose.
Why Option C is Correct:
Option C emphasizes the importance of complying with local requirements, which is critical for legal compliance and ethical handling of notifications.
Option A (unrestricted access for the notifier) could compromise confidentiality and lead to data breaches.
Option B (privacy requirements do not apply) is false, as data privacy laws often apply to hotline reports.
Option D (confidentiality and anonymity are the same) is incorrect, as they are distinct concepts (anonymity means the notifier remains unknown; confidentiality means their identity is protected).
Relevant Frameworks and Guidelines:
ISO 37002 (Whistleblowing Management System): Provides guidelines for protecting whistleblowers and ensuring compliance with privacy regulations.
GDPR (General Data Protection Regulation): Requires strict data protection for information related to whistleblowing.
In summary, organizations must ensure that notification pathways comply with local requirements, protecting the privacy and confidentiality of all involved parties while adhering to relevant legal and regulatory standards.
NEW QUESTION # 136
What is the difference between a hazard and an obstacle in the context of uncertainty?
- A. A hazard affects the likelihood of an event, while an obstacle is a hazard with significant impact on objectives.
- B. A hazard is a cause that has the potential to eventually result in harm, while an obstacle is an event that may have a negative effect on objectives.
- C. A hazard is a type of obstacle, while an obstacle is an overarching category of threat.
- D. A hazard is a measure of the negative impact on the organization, while an obstacle is a state of conditions that create a hazard.
Answer: B
Explanation:
In the context of uncertainty, hazards and obstacles describe different concepts:
Hazard:
A cause or source of potential harm or adverse impact.
Example: A poorly maintained system poses a hazard for downtime.
Obstacle:
An event or condition that negatively affects the achievement of objectives.
Example: System downtime becomes an obstacle to completing a project on time.
Key Difference:
Hazards are potential causes, while obstacles are actual events or conditions that create challenges.
Why Other Options Are Incorrect:
A: Obstacles are events, not conditions that create hazards.
B: Hazards relate to causes, not likelihood.
D: Hazards and obstacles are distinct concepts, not types of each other.
Reference:
ISO 31000 (Risk Management): Differentiates hazards as sources of harm and obstacles as barriers to objectives.
COSO ERM Framework: Explains the role of events (obstacles) in risk management.
NEW QUESTION # 137
Why is monitoring important in the context of the REVIEW component?
- A. Because it helps management and the governing authority understand progress toward objectives and whether opportunities, obstacles, and obligations are addressed.
- B. Because it generates financial reports for stakeholders.
- C. Because it contributes to employee performance evaluations.
- D. Because it is a required task for external regulatory compliance.
Answer: A
Explanation:
Monitoring is essential in theREVIEW componentas it provides insights into the organization'sprogress toward objectivesand ensures thatopportunities, obstacles, and obligations are effectively managed.
* Purpose of Monitoring:
* Tracks performance metrics to determine if the organization is meeting its goals.
* Identifies areas needing improvement or adjustment to align with strategic objectives.
* Importance for Governance and Management:
* Enables informed decision-making by providing real-time data and progress updates.
* Ensures accountability and transparency in addressing risks and compliance.
* Why Other Options Are Incorrect:
* A: Generating financial reports is a function of accounting, not the REVIEW component.
* B: Employee evaluations are part of HR processes, not organizational performance monitoring.
* C: While compliance is important, monitoring serves broader objectives beyond regulatory requirements.
References:
* COSO ERM Framework: Highlights the role of monitoring in achieving strategic objectives.
* OCEG GRC Capability Model: Recommends continuous monitoring to review progress and address opportunities and risks.
NEW QUESTION # 138
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