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OCEG GRCA Exam Syllabus Topics:
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OCEG GRC Auditor Certification Exam Sample Questions (Q41-Q46):
NEW QUESTION # 41
You must use GRC Assessment Tools to do a GRC Assessment
- A. True
- B. False
Answer: B
Explanation:
While GRC Assessment Tools can greatly aid in conducting a GRC assessment by providing structured methodologies and frameworks, it is not mandatory to use them. Assessments can be conducted using other methods and tools as long as they are systematic and thorough. The key is to apply professional judgment and ensure the assessment is comprehensive and aligned with the organization's needs.References:
* ISO 31000:2018 - Risk management - Guidelines
* COSO Internal Control - Integrated Framework
NEW QUESTION # 42
Follow up should be restricted to the recommendations and action plan
- A. True. Only follow-up on planned actions and controls.
- B. False. Follow-Up should target the underlying risk. If the planned actions and controls are working, then the follow-up should identify and recommend changes.
Answer: B
Explanation:
Follow-up should not be restricted to the recommendations and action plan alone. It should also target the underlying risk to ensure that the actions and controls implemented are effectively mitigating the identified risks. If the follow-up reveals that the planned actions and controls are not working as intended, it is essential to identify and recommend necessary changes to address the underlying risk adequately. This approach ensures that the root causes of issues are addressed and that the organization is protected against potential risks.References:
* ISO 31000:2018 - Risk management - Guidelines
* COSO Enterprise Risk Management - Integrating with Strategy and Performance
NEW QUESTION # 43
Being "effective" is best defined as
- A. High performance
- B. Design Effectiveness and Operating Effectiveness
- C. Getting the job done right
Answer: B
Explanation:
Being "effective" is best defined as a combination of design effectiveness and operating effectiveness. Design effectiveness refers to how well a control or process is structured to achieve its intended outcomes, while operating effectiveness assesses how well the control or process is functioning in practice. Together, these dimensions ensure that controls are not only well-designed but also effectively implemented and operational.
References:
* COSO Internal Control - Integrated Framework
* ISO 31000:2018 - Risk management - Guidelines
NEW QUESTION # 44
Producing Value and Protecting Value are trade-offs. You CANNOT do both at the same time. *
- A. True
- B. False
Answer: B
Explanation:
The statement that producing value and protecting value are trade-offs and cannot be done at the same time is false. In fact, both can and should be pursued concurrently. Effective governance, risk management, and compliance (GRC) strategies integrate the production of value (achieving business objectives and growth) with the protection of value (safeguarding assets, ensuring compliance, and managing risks). This integrated approach ensures sustainable performance and long-term success. Organizations that balance both aspects can achieve principled performance by reliably achieving objectives, addressing uncertainty, and acting with integrity.References:
* ISO 31000:2018 - Risk management - Guidelines
* COSO Enterprise Risk Management - Integrating with Strategy and Performance
NEW QUESTION # 45
Which one of these is most associated with a "measure of how well we are addressing opportunities"
- A. Risk
- B. Performance
- C. Compliance
Answer: B
Explanation:
Performance is most associated with a "measure of how well we are addressing opportunities." Performance management focuses on setting goals, monitoring progress, and evaluating outcomes to ensure that an organization is effectively taking advantage of opportunities to achieve its objectives. It involves measuring and managing activities that lead to improved efficiency, effectiveness, and innovation. By addressing opportunities, organizations can enhance their performance and create value.References:
* ISO 9001:2015 - Quality management systems - Requirements
* Balanced Scorecard Institute - Performance Management Framework
NEW QUESTION # 46
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