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OCEG GRCP Exam Syllabus Topics:
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OCEG GRC Professional Certification Exam Sample Questions (Q90-Q95):
NEW QUESTION # 90
What are some examples of technology factors that may influence an organization's external context?
- A. How the organization uses technology for employee recruitment, onboarding processes, and performance appraisals
- B. Research and Design activity, innovations in materials, mechanical efficiency, and the rate of technological change
- C. Market segmentation, pricing strategies, and promotional activities
- D. How the organization uses financial forecasting, budgeting, and cost control
Answer: B
Explanation:
Technology factorsin an organization's external context include technological developments and innovations outside the organization that affect its competitive environment.
* Examples of Technology Factors:
* Research and Design Activity: Innovations in materials and engineering that impact product development.
* Rate of Technological Change: Rapid advancements that require businesses to adapt to remain competitive.
* Relation to External Context:
* These factors originate outside the organization and influence strategic decision-making and innovation adoption.
* Why Other Options Are Incorrect:
* A: Market segmentation and pricing are marketing-related factors.
* CandD: These describe internal applications of technology, not external influences.
References:
* PESTEL Analysis: Includes technology as a critical external factor.
* ISO 31000: Considers external technological developments in risk evaluations.
NEW QUESTION # 91
How is the efficiency of the LEARN component measured in terms of the use of capital?
- A. By assessing the efficiency of using financial, physical, human, and information capital to learn.
- B. By measuring changes in the organization's market share and competitive position.
- C. By evaluating the return on investment from undertaking LEARN activities.
- D. By analyzing the organization's budget allocation and resource utilization.
Answer: A
Explanation:
The efficiency of the LEARN component is assessed by evaluating how effectively the organization uses its various forms of capital to facilitate learning and improve performance.
Capital Types Utilized:
Financial Capital: Budget and monetary resources allocated for learning initiatives.
Physical Capital: Infrastructure and tools supporting learning activities.
Human Capital: Skills, knowledge, and expertise of employees.
Information Capital: Data and knowledge systems utilized for decision-making.
Efficiency Metrics:
Focuses on the optimal use of these capitals to minimize waste and maximize learning outcomes.
Why Other Options Are Incorrect:
A: Market share and competitive position are business performance metrics, not specific to learning efficiency.
B: Return on investment is an outcome, not the operational efficiency of capital use.
D: Budget allocation is a component of financial capital but does not encompass all forms of capital.
Reference:
OCEG IACM Framework: Discusses capital efficiency in achieving organizational learning goals.
ISO 30401 (Knowledge Management): Highlights resource utilization in learning and development.
You said:
35. What are some examples of environmental factors that may influence an organization's external context?* O Climate and natural resources O Organizational procurement, vendor selection, and contract negotiation for hazardous waste disposal O Organizational performance metrics, goal setting, and progress tracking regarding climate-related projects O Organizational response to new carbon emission regulations 36. What are some examples of technology factors that may influence an organization's external context? * O Market segmentation, pricing strategies, and promotional activities O Research and Design activity, innovations in materials, mechanical efficiency, and the rate of technological change O How the organization uses technology for employee recruitment, onboarding processes, and performance appraisals O How the organization uses financial forecasting, budgeting, and cost control 37. What are some examples of economic factors that may influence an organization's external context? O Growth, exchange, inflation, and interest rates O Profitability of each line of business O Supply chain management, inventory control, and distribution logistics O Employee retention, job satisfaction, and career development ChatGPT said:
NEW QUESTION # 92
What is the difference between reasonable assurance and limited assurance?
- A. Reasonable assurance is provided by internal auditors as part of a risk assessment, while limited assurance results from external audits and regulatory examinations.
- B. Reasonable assurance is provided by the Board of Directors as part of governance activities, while limited assurance results from employee self-assessments.
- C. Reasonable assurance is provided by management as part of strategic planning, while limited assurance results from operational reviews and performance evaluations.
- D. 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 are sufficiently objective about the subject matter.
Answer: D
Explanation:
The primary distinction betweenreasonable assuranceandlimited assurancelies in thelevel of confidenceand thescope of procedures performed.
* Reasonable Assurance:
* Provides ahigh level of confidencethat the subject matter is free from material misstatement.
* Typically offered inexternal audits, such as financial audits, where auditors perform extensive procedures to validate conformity with established criteria.
* Limited Assurance:
* Offers amoderate level of confidencebased on less rigorous procedures (e.g., inquiries and analytical reviews).
* Common inreviewsandcompilations, often performed by internal or external personnel with sufficient expertise.
* Key Differences:
* Reasonable assurance requiresmore evidence and detailed testing.
* Limited assurance is less comprehensive but still provides an informed opinion.
References:
* International Auditing Standards (ISA 200): Explains assurance levels and their requirements.
* COSO Framework: Highlights the application of assurance in governance and risk management.
NEW QUESTION # 93
Which trait of the Protector Mindset involves acting deliberately in advance to reduce the risk of being caught off guard?
- A. Versatile
- B. Assertive
- C. Proactive
- D. Collaborative
Answer: C
Explanation:
The Proactive trait in the Protector Mindset is essential for identifying potential risks and mitigating them before they escalate into significant issues. This involves anticipating challenges, planning responses, and taking preventive measures to ensure organizational resilience.
Acting Deliberately in Advance:
Identifying emerging risks using tools like risk heatmaps and threat intelligence.
Developing risk mitigation plans aligned with frameworks like NIST RMF (Risk Management Framework).
Reducing Risk of Being Caught Off Guard:
Conducting regular audits and assessments to uncover vulnerabilities.
Leveraging scenario planning and tabletop exercises to prepare for potential incidents.
Relevant Frameworks and Guidelines:
NIST SP 800-39 (Managing Information Security Risk): Encourages proactive risk management to avoid unforeseen incidents.
ISO/IEC 27001 (Information Security Management): Stresses proactive planning to ensure information security controls are in place.
In conclusion, the Proactive trait underscores the importance of foresight and preparation in ensuring that organizations remain agile and ready to address risks effectively.
NEW QUESTION # 94
Which organization and its membership created the concepts of Principled Performance and GRC?
- A. IMA (Institute of Management Accountants)
- B. IFAC (International Federation of Accountants)
- C. ISACA (Information Systems Audit and Control Association)
- D. SCCE (Society of Corporate Compliance and Ethics)
- E. The OCEG community of GRC Professionals
- F. IIA (Institute of Internal Auditors)
- G. The Financial Accounting Standards Board (FASB)
- H. ACFE (Association of Certified Fraud Examiners)
- I. The International Organization for Standardization (ISO)
- J. IAPP (International Association of Privacy Professionals)
- K. AICPA (American Institute of Certified Public Accountants)
Answer: E
Explanation:
The concepts ofPrincipled PerformanceandGRC (Governance, Risk, and Compliance)were developed by theOCEG (Open Compliance and Ethics Group)community of GRC professionals.
* OCEG Overview:
* OCEG is a global, nonprofit think tank and community that pioneered the integration of governance, risk, and compliance practices under the GRC framework.
* It focuses on helping organizations achievePrincipled Performance, a concept that involves balancing objectives, managing uncertainties, and maintaining integrity.
* Principled Performance and GRC Development:
* OCEG introduced theGRC Capability Model, which serves as a comprehensive guide for aligning GRC practices with strategic goals.
* The model emphasizesreliable achievement of objectives, addressinguncertainty, and ensuring ethical behavior.
* Why Other Options are Incorrect:
* Organizations like ISACA, ISO, or IIA provide valuable standards or guidance in specific areas (e.g., auditing, information systems, etc.), but they did not create the overarching GRC and Principled Performance concepts.
References:
* OCEG Capability Model (Red Book): A detailed framework for implementing GRC practices.
* OCEG official resources on the history and mission of GRC and Principled Performance.
NEW QUESTION # 95
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