GRCP Practice Questions EXAM WITH
COMPLETE SOLUTIONS
\
Principled Performance represents achievement of - ANSthe most critical objectives
that an organization chooses to pursue whilst employing an effective, efficient and
responsive approach to governance, risk management and compliance that supports
those objectives
An integrated approach to GRC involves - ANSapplying a common vocabulary,
approach and technology infrastructure to GRC processes.
Which is the best description of a Risk Management Action Plan? - ANSA document
that sets out the strategy, structures, processes, activities and resources to
appropriately manage the organization's risks to reduce or avoid adverse effects and
grasp opportunities
A threat is - ANSan event or condition that has, on balance, an undesirable effect on
achieving objectives
Which of the following would NOT be appropriate when monitoring external context? -
ANShaving only one source of information about each item being monitored
Why do you need to analyze the current and planned approaches to addressing
opportunities, threats and requirements? - ANSTo be able to determine if the inherent,
actual and planned residual levels of risk, reward and conformance are acceptable
Which of the following is NOT true? - ANSAn organization always should have only one
code of conduct that applies to everyone throughout the organization
When establishing procedures for investigating complaints or reports about compliance
or ethical issues, an organization must: - ANSDefine categories of issues that are
significant enough to be escalated to senior management and/or outside counsel
immediately upon validation
Which of the following would not be considered an external stakeholder or influencer of
opinion? - ANSThe Board of Directors
Why is it important to establish formal values and objectives for the organization? -
ANS. Absent a clear mission, vision and values statement, the organization will operate
on the values defined ad hoc or by individuals based on their own beliefs and interests
COMPLETE SOLUTIONS
\
Principled Performance represents achievement of - ANSthe most critical objectives
that an organization chooses to pursue whilst employing an effective, efficient and
responsive approach to governance, risk management and compliance that supports
those objectives
An integrated approach to GRC involves - ANSapplying a common vocabulary,
approach and technology infrastructure to GRC processes.
Which is the best description of a Risk Management Action Plan? - ANSA document
that sets out the strategy, structures, processes, activities and resources to
appropriately manage the organization's risks to reduce or avoid adverse effects and
grasp opportunities
A threat is - ANSan event or condition that has, on balance, an undesirable effect on
achieving objectives
Which of the following would NOT be appropriate when monitoring external context? -
ANShaving only one source of information about each item being monitored
Why do you need to analyze the current and planned approaches to addressing
opportunities, threats and requirements? - ANSTo be able to determine if the inherent,
actual and planned residual levels of risk, reward and conformance are acceptable
Which of the following is NOT true? - ANSAn organization always should have only one
code of conduct that applies to everyone throughout the organization
When establishing procedures for investigating complaints or reports about compliance
or ethical issues, an organization must: - ANSDefine categories of issues that are
significant enough to be escalated to senior management and/or outside counsel
immediately upon validation
Which of the following would not be considered an external stakeholder or influencer of
opinion? - ANSThe Board of Directors
Why is it important to establish formal values and objectives for the organization? -
ANS. Absent a clear mission, vision and values statement, the organization will operate
on the values defined ad hoc or by individuals based on their own beliefs and interests
