OCEG GRCP Exam Practice Test Instant Access

Question 1

In the Lines of Accountability Model, what is the role of the First Line?

AIndividuals and Teams who provide strategic direction and set organizational goals and objectives

BIndividuals and Teams who own and manage performance, risk, and compliance associated with day-to-day operational activities

CIndividuals and Teams who conduct audits and assessments to ensure compliance with regulations

DIndividuals and Teams who oversee the implementation of policies and procedures across the organization

Answer : B

Question 2

In the IACM, what is the role of Correct/Recover Actions & Controls?

ATo assess any damage done to the company from non-compliance

BTo slow down or decrease the impact of unfavorable events and return the organization to its original, stable, or superior state after harm has occurred

CTo ensure that all employees adhere to the company's code of conduct

DTo ensure that unfavorable events do not affect the profitability of the organization

Answer : B

Question 3

What is the primary purpose of assurance in an organization?

ATo ensure that the organization complies with all industry-specific regulations

BTo provide confidence to management, governing authorities, and stakeholders by objectively and competently evaluating subject matter

CTo facilitate communication and collaboration between different departments within the organization

DTo provide legal protection to the organization in case of disputes or litigation

Answer : B

Question 4

In the IACM, what is the role of Governance Actions & Controls?

ATo assist the governing authority in constraining and constraining the organization

BTo develop and implement innovative business strategies

CTo engage with stakeholders and address their concerns

DTo monitor and evaluate the performance of suppliers and vendors

Answer : A

Question 5

What is a consideration to keep in mind when using economic incentives to encourage favorable conduct?

AEnsure that incentives are not 'perverse incentives' that encourage adverse conduct

BEnsure that any unions or employee organizations approve them

CEnsure that economic incentives are only provided to senior management

DEnsure that economic incentives are based solely on individual performance metrics

Answer : A

Question 6

What type of incentives are established through compensation, reward, and recognition programs?

ASocial Incentives

BEconomic Incentives

CManagement Incentives

DIndividualized Incentives

Answer : B

Question 7

What are the three main aspects that organizations must face and address while driving toward objectives?

AOpportunities (reward), obstacles (risk), and obligations (compliance)

BProfitability, liquidity, and solvency

CGrowth, diversification, and resiliency

DLeadership, teamwork, and communication

Answer : A

OCEG GRC Professional Certification GRCP Exam Practice Test