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Question 1

The "Three Lines of Defense" model is one of the well-known tools for understanding and implementing risk management, and the first line of defense includes:

AInternal control procedures

BRisk management

CInternal audit

Answer : A

Question 2

According to the study conducted by Beck, Tunny, Kiel, and Nicholson, the competence of board members can be assessed to determine their training needs in the following areas:

AIndustry and movement, and behavioral skills

BIndustry, trade, management, and leadership

CAccounting, trade, management, and finance

Answer : B

Question 3

There are several strategies for dealing with risks, such as the "risk implementation strategy," which means:

AImplementing a risk removal plan through, for example, insurance contracts.

BTaking planned and necessary measures to prevent risks from affecting the organization.

CImplementing a work plan to confront a significant increase in risks that exceeds the acceptable amount.

Answer : C

Question 4

The commitment to disclose "material developments" to the Capital Market Authority, relevant parties, and the public without any delay includes, for example:

AAny losses equal to or exceeding 5% of the company's net assets.

BAny losses equal to or exceeding 10% of the company's net assets.

CAny losses less than 10% of the company's net assets.

Answer : B

Question 5

The "Three Lines of Defense" model is one of the important tools for understanding and implementing risk management in companies. The second line in this model includes:

AFinancial oversight.

BGovernance and compliance.

CAll of the above.

Answer : B

Question 6

There are some obstacles to the independence of board members, such as:

AThe member owning 3% or more of the company's shares.

BThe member owning 5% or more of the company's shares.

CThe member owning 10% or more of the company's shares.

Answer : C

Question 7

One of the most important schools that worked on developing governance principles around the world, and is considered one of the banking regulatory bodies, is:

ABasel Committee

BOECD Organization for Economic Cooperation and Development for Governance

CCadbury Rules Committee

Answer : A

AGRC International Certified Corporate Governance Officer ICCGO Exam Questions