GRCP GRC Professional Certification Exam Free Dumps

dumps2025-01-15T08:52:30+08:00

GRCP GRC Professional Certification exam contains 100 scored questions and 15 unscored questions, and you have 2 hours to complete the test. You must correctly answer 70 out of 100 scored questions. The GRCP exam is open-book, which means that you may use Google and other resources while taking the exam. We provide the latest GRC Professional Certification GRCP exam dumps, which can make sure you pass the test easily. Free GRC Professional Certification GRCP exam dumps are available below.

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1. What does the initialism GRC stand for?

Governing risk and compliance

Governance, risk, and compliance

Governance, risk, and controls

Government, regulation, and controls

2. What is the essence or the central meaning of GRC?

A connected and integrated approach that provides a pathway to Principled Performance by overcoming VUCA and disconnection

A system for monitoring and evaluating the performance of employees and teams

A set of guidelines and regulations for corporate governance and ethical conduct

A framework for managing financial risks and ensuring fiscal responsibility

3. What is the difference between an organization that is being "Good" and being a "Principled Performer"?

An organization must measure up to the Principled Performance definition to be a "Principled Performer," regardless of whether its objectives are subjectively perceived or preferred as "Good" or "Bad."

A "Principled Performer" always pursues objectives that are considered "Good" by society.

There is no difference: "Good" and a "Principled Performer" are synonymous.

A "Principled Performer" is an organization that donates a significant portion of its profits to charity.

4. Which organization and its membership created the concepts of Principled Performance and GRC?

IAPP (International Association of Privacy Professionals)

AICPA (American Institute of Certified Public Accountants)

ISACA (Information Systems Audit and Control Association)

IFAC (International Federation of Accountants)

IMA (Institute of Management Accountants)

SCCE (Society of Corporate Compliance and Ethics)

ACFE (Association of Certified Fraud Examiners)

The Financial Accounting Standards Board (FASB)

IIA (Institute of Internal Auditors)

The International Organization for Standardization (ISO)

The OCEG community of GRC Professionals

5. GRC Professionals, known as "Protectors," work to achieve a specific goal referred to as Principled Performance.

Which of the following best describes Principled Performance®?

To reliably achieve objectives, address uncertainty, and act with integrity C to produce and preserve value simultaneously.

To maximize profits and minimize losses.

To ensure compliance with all legal requirements.

To eliminate all risks and uncertainties.

6. Which Critical Discipline of the Protector Skillset includes skills to enhance stakeholder confidence and perform assessments?

Audit & Assurance

Security & Continuity

Governance & Oversight

Strategy & Performance

7. Which Critical Discipline of the Protector Skillset includes skills to constrain activities and set direction?

Audit & Assurance

Governance & Oversight

Risk & Decisions

Compliance & Ethics

8. Which Critical Discipline of the Protector Skillset includes skills to address obligations and shape an ethical culture?

Compliance & Ethics

Security & Continuity

Governance & Oversight

Audit & Assurance

9. In the context of the Maturity Model, what characterizes practices at Level I?

Practices are improvised, ad hoc, and often chaotic.

Practices are formally documented and consistently managed.

Practices are measured and managed with data-driven evidence.

Practices are consistently improved over time.

10. What are the four dimensions used to assess Total Performance in the GRC Capability Model?

Quality, Productivity, Flexibility, and Durability

Accuracy, Precision, Speed, and Stability

Effectiveness, Efficiency, Responsiveness, and Resilience

Compliance, Consistency, Adaptability, and Robustness

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11. How do GRC Professionals apply the concept of ‘maturity’ in the GRC Capability Model?

GRC Professionals apply maturity only to the highest level of the GRC Capability Model.

GRC Professionals apply maturity at all levels of the GRC Capability Model to assess preparedness to perform practices and support continuous improvement.

GRC Professionals use maturity to evaluate the performance of individual employees.

GRC Professionals use maturity to determine the budget allocation for GRC programs.

12. In the Lines of Accountability Model, what is the role of the Second Line?

Individuals and Teams who are responsible for financial reporting and budgeting activities within the organization.

Individuals and Teams who establish performance, risk, and compliance programs for the First Line and provide oversight through frameworks, standards, policies, tools, and techniques.

Individuals and Teams who manage external relationships with stakeholders, investors, and regulators.

Individuals and Teams who provide legal advice and support to the organization in case of disputes or litigation.

13. What is the difference between reasonable assurance and limited assurance?

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.

Reasonable assurance is provided by internal auditors as part of a risk assessment, while limited assurance results from external audits and regulatory examinations.

Reasonable assurance is provided by the Board of Directors as part of governance activities, while limited assurance results from employee self-assessments.

Reasonable assurance is provided by management as part of strategic planning, while limited assurance results from operational reviews and performance evaluations.

14. In the context of GRC, which is the best description of the role of assurance in an organization?

Allocating financial resources and evaluating their use to manage the organization’s budget better.

Providing the governing body with opinions on how well its objectives are being met based on expertise and experience.

Designing and monitoring the organization’s information technology systems to be accurate and reliable so management can be assured of meeting established objectives.

Objectively and competently evaluating subject matter to provide justified conclusions and confidence.

15. In the context of assurance activities, what does the term "assurance objectivity" refer to?

To the degree to which an Assurance Provider can adhere to industry standards and best practices in performing audits.

To the degree to which an Assurance Provider can provide accurate and reliable information to stakeholders on which they can form an opinion about the subject matter themselves.

The degree to which an Assurance Provider can be impartial, disinterested, independent, and free to conduct necessary activities to form an opinion about the subject matter.

To the degree to which an Assurance Provider can minimize costs and maximize efficiency in performing audits.

16. What are key compliance indicators (KCIs) associated with?

Number of non-compliance events investigated

The level of employee training and understanding of requirements

The impact of environmental and social initiatives

The degree to which obligations and requirements are addressed

17. What does it mean for an organization to "reliably achieve objectives" as part of Principled Performance?

It means achieving short-term goals regardless of the impact on long-term success.

It means having measurable outcomes.

It means achieving mission, vision, and balanced objectives thoughtfully, consistently, dependably, and transparently.

It means always achieving profitability targets and maximizing shareholder value.

18. What is the difference between a mission and a vision?

The mission states the organization’s purpose and direction, while the vision is an aspirational objective that states what the organization aspires to be.

The mission is determined by external stakeholders, while the vision is determined by internal stakeholders.

The mission is a short-term financial goal, while the vision is a long-term non-financial goal.

The mission is what a for-profit organization should have, while the vision is for non-profit organizations.

19. In the context of GRC, what is the importance of aligning objectives throughout the organization?

It ensures that superior-level objectives cascade to subordinate units and that subordinate units contribute to the most important objectives and priorities of the organization.

It enables the governing authority to only focus on the highest-level objectives that are tied to financial outcomes.

It frees the organization to focus solely on short-term financial performance.

It eliminates the need for excessive communication and collaboration between different departments within the organization.

20. What is the term used to describe the outcome or potential outcome of an event?

Consequence

Impact

Condition

Effect

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21. What is the term used to describe the measure of the negative effect of uncertainty on objectives?

Risk

Harm

Obstacle

Threat

22. What is the term used to describe the level of risk in the absence of actions and controls?

Uncontrolled Risk

Inherent Risk

Vulnerability

Residual Risk

23. What is the design option that involves ceasing all activity or terminating sources that give rise to the opportunity, obstacle, or obligation?

Avoid

Control

24. What are beliefs, and how do they influence behavior within an organization?

Beliefs are ideas and assumptions held by individuals or groups, often shaped by experiences and perceptions, that influence behavior by informing the values and principles that guide actions and decisions.

Beliefs are the organization’s commitments to mandatory and voluntary obligations, and they influence behavior by determining the extent to which individuals fulfill obligations and honor promises.

Beliefs are the organization’s understanding of its mission, vision, and values, and they influence behavior by aligning actions with the organization's higher purpose and long-term goals.

Beliefs are the organization’s perceptions of risk and uncertainty, and they influence behavior by guiding actions and controls to address compliance-related risks.

25. What is the duality of compliance, and how does it relate to risk?

The duality of compliance refers to the distinction between domestic and international regulations that an organization must follow.

The duality of compliance refers to the trade-off between investing in compliance measures and allocating resources to other business areas.

The duality of compliance involves addressing both compliance with obligations and compliance-related risks. Compliance involves meeting mandatory and voluntary obligations, while compliance-related risks involve addressing the risk of negative outcomes associated with non-compliance.

The duality of compliance refers to the balance between financial gains and ethical considerations in business decisions.

26. What are norms?

Norms are customs, rules, or expectations that a group socially reinforces.

Norms are the typical ways that the business operates.

Norms are the regular employees of an organization as opposed to contractors brought in for unusual (not normal) projects.

Norms are the normal or typical financial targets set by the organization.

27. What is compliance, and how is it measured in an organization?

Compliance is a measure of the degree to which obligations are proven to be addressed, and it is measured by assessing requirements, actions & controls to address requirements, and evidence of effectiveness.

Compliance is the ability to avoid legal disputes, and it is measured by the number of lawsuits and enforcement actions filed against the organization.

Compliance is the financial success of the organization, and it is measured by revenue and profit margins.

Compliance is the level of stakeholder satisfaction measured through stakeholder surveys and feedback.

28. In the IACM, what is the role of Compound/Accelerate Actions & Controls?

To identify and address any potential conflicts of interest that may compound or accelerate enforcement actions against the company.

To enhance the brand image and reputation of the organization.

To accelerate and compound the impact of favorable events to increase benefits and promote the future occurrence.

To accelerate and compound the benefits of reducing costs.

29. In the IACM, what are the two types of Proactive Actions & Controls?

Reactive Actions & Controls and Passive Actions & Controls

Prevent/Deter Actions & Controls and Promote/Enable Actions & Controls

Centralized Actions & Controls and Decentralized Actions & Controls

Quantitative Actions & Controls and Qualitative Actions & Controls

30. Which category of actions & controls in the IACM includes formal statements and rules about organizational intentions and expectations?

Information

People

Technology

Policy

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31. Which category of actions and controls in the IACM includes human factors such as structure, accountability, education, and enablement?

Technology

Policy

Information

People

GRCP GRC Professional Certification Exam Free Dumps

GRCP GRC Professional Certification Exam Free Dumps

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