GRCP exam

GRC Professionals, known as "Protectors," work to achieve a specific goal referred to as Principled Performance. Which of the following best describes Principled Performance®?A . To reliably achieve objectives, address uncertainty, and act with integrity C to produce and preserve value simultaneously.B . To maximize profits and minimize losses.C ....

How does the IACM address unfavorable events related to obstacles?A . By focusing on opportunitiesB . By decreasing the ultimate likelihood and impact of harmC . By implementing a flat organizational structureD . By conducting regular employee satisfaction surveysView AnswerAnswer: B Explanation: The Integrated Actions and Controls Model (IACM) addresses...

Which category of actions and controls in the IACM includes human factors such as structure, accountability, education, and enablement?A . TechnologyB . PolicyC . InformationD . PeopleView AnswerAnswer: D Explanation: The People category in the IACM addresses human factors critical for implementing and sustaining effective actions and controls. Human Factors:...

What is the duality of compliance, and how does it relate to risk?A . The duality of compliance refers to the distinction between domestic and international regulations that an organization must follow.B . The duality of compliance refers to the trade-off between investing in compliance measures and allocating resources to...

What does the initialism GRC stand for?A . Governing risk and complianceB . Governance, risk, and complianceC . Governance, risk, and controlsD . Government, regulation, and controlsView AnswerAnswer: B Explanation: GRC stands for Governance, Risk, and Compliance, a critical framework for organizations to ensure they operate ethically and effectively while...

How is the efficiency of the LEARN component measured in terms of the use of capital?A . By measuring changes in the organization's market share and competitive position.B . By evaluating the return on investment from undertaking LEARN activities.C . By assessing the efficiency of using financial, physical, human, and...

In the context of GRC, which is the best description of the role of assurance in an organization?A . Allocating financial resources and evaluating their use to manage the organization’s budget better.B . Providing the governing body with opinions on how well its objectives are being met based on expertise...

What are key compliance indicators (KCIs) associated with?A . Number of non-compliance events investigatedB . The level of employee training and understanding of requirementsC . The impact of environmental and social initiativesD . The degree to which obligations and requirements are addressedView AnswerAnswer: D Explanation: Key Compliance Indicators (KCIs) are...

What is the design option that involves ceasing all activity or terminating sources that give rise to the opportunity, obstacle, or obligation?A . AcceptB . ShareC . AvoidD . ControlView AnswerAnswer: C Explanation: Avoid is a risk management strategy that involves stopping activities or removing sources of risk entirely. Definition:...

What is the difference between reasonable assurance and limited assurance?A . Reasonable assurance is provided by external auditors as part of a financial audit and indicates conformity to suitable criteria and freedom from material error, while limited assurance results from reviews, compilations, and other activities performed by competent personnel who...