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OCEG GRCP Exam Syllabus Topics:

Topic
Details

Topic 1

Perform Component: This subsection emphasizes executing GRC activities and implementing controls to manage risks effectively. A key skill assessed is the ability to perform risk assessments and implement necessary actions.

Topic 2

Review Component: This subsection focuses on reviewing and evaluating GRC practices to ensure continuous improvement. A critical skill evaluated is conducting audits and assessments to identify areas for enhancement in governance practices.

Topic 3

Learn Component: This subsection focuses on the learning aspect of the GRC Capability Model, emphasizing foundational knowledge necessary for effective governance practices. A key skill assessed is understanding basic GRC principles to support strategic initiatives.

Topic 4

Align Component: This subsection covers aligning GRC practices with organizational objectives and regulatory requirements. A vital skill evaluated is the ability to integrate GRC processes into business operations effectively.

OCEG GRC Professional Certification Exam Sample Questions (Q219-Q224):

NEW QUESTION # 219
What does it mean for an organization to "reliably achieve objectives" as part of Principled Performance?

A. It means having measurable outcomes.
B. It means achieving short-term goals regardless of the impact on long-term success.
C. It means achieving mission, vision, and balanced objectives thoughtfully, consistently, dependably, and transparently.
D. It means always achieving profitability targets and maximizing shareholder value.

Answer: C

NEW QUESTION # 220
What is the role of likelihood and impact in measuring the effect of uncertainty on objectives?

A. Likelihood measures the financial gain, and impact measures the financial loss
B. Likelihood measures the chance of an event occurring, and impact measures the economic and non-economic consequences
C. Likelihood and impact are irrelevant in measuring the effect of uncertainty
D. Likelihood measures the number of obstacles, and impact measures the number of opportunities

Answer: B

NEW QUESTION # 221
Within an organization, what is the governing authority responsible for?

A. Balancing the competing needs of stakeholders to guide, constrain, and conscribe the organization to reliably achieve objectives, address uncertainty, and act with integrity
B. Designing every strategic plan that applies at any level of the organization
C. Directly managing the most critical aspects of the organization's operations to ensure they achieve established objectives
D. Negotiating contracts with all organization executives, as well as all suppliers and vendors

Answer: A

Explanation:
Thegoverning authorityin an organization (e.g., the board of directors or equivalent body) plays a critical role in setting the strategic direction, ensuring ethical behavior, addressing uncertainties, and aligning the organization with stakeholder needs. It does not directly manage operations but instead provides oversight, establishes boundaries, and ensures that the organization adheres to its mission, values, and legal obligations.
Key Responsibilities of the Governing Authority:
* Balancing Stakeholder Needs:
* Stakeholders include shareholders, employees, customers, suppliers, regulators, and the community.
* The governing authority must balance these often competing interests to maintain organizational legitimacy and trust.
* Guiding the Organization:
* Establishing the organization's mission, vision, values, and strategic priorities.
* Setting goals and objectives to align with these priorities while ensuring ethical governance.
* Constraining and Conscribing the Organization:
* Imposing appropriate constraints through policies, frameworks, and controls to ensure compliance, ethical behavior, and risk mitigation.
* Examples include corporate governance frameworks likeCOSO ERM,ISO 37000, or regulatory compliance requirements.
* Addressing Uncertainty:
* Overseeing risk management processes to ensure the organization is prepared for disruptions, emerging risks, and uncertainties.
* Aligning with frameworks such asISO 31000for enterprise risk management.
* Acting with Integrity:
* Upholding ethical principles and promoting a culture of integrity throughout the organization, as emphasized by frameworks likeISO 37301for compliance management.
Why Option D is Correct:
The governing authority is responsible forbalancing stakeholder needs, providing strategic oversight, and ensuring the organization acts ethically, mitigates risks, and reliably achieves its objectives. This definition aligns with global governance frameworks and best practices.
Why the Other Options Are Incorrect:
* A: The governing authority does not directly manage day-to-day operations. This is the role of executive management.
* B: While the governing authority provides strategic oversight, it does not design every strategic plan at all levels of the organization. These are delegated to appropriate management teams.
* C: Contract negotiation with executives, suppliers, and vendors is an operational responsibility, not a governance role.
References and Resources:
* ISO 37000:2021- Guidance on the governance of organizations.
* COSO ERM Framework- Emphasizes governance roles in addressing uncertainty and achieving objectives.
* OECD Principles of Corporate Governance- Highlights balancing stakeholder needs and ethical oversight.
* ISO 31000:2018- Discusses the governance role in risk and uncertainty management.

NEW QUESTION # 222
What is the purpose of using the SMART model for results and indicators?

A. To define results and indicators that are Specific, Measurable, Achievable, Relevant, and Time-Bound, especially for results and indicators that "run the organization."
B. To define results and indicators that are Stacked, Monitored, Achievable, Right, and Timely, especially for results and indicators that "run the organization."
C. To assess the strengths, weaknesses, opportunities, and threats of the organization.
D. To create a detailed budget and financial forecast for the organization.

Answer: A

Explanation:
The SMART model is a widely used framework for setting goals and defining results and indicators to ensure clarity and effectiveness in performance tracking.
SMART Criteria:
Specific: Clear and precise objectives or outcomes.
Measurable: Quantifiable or assessable metrics.
Achievable: Realistic and attainable goals.
Relevant: Aligned with organizational priorities and objectives.
Time-Bound: Defined timelines for achieving results.
Purpose:
Ensures that results and indicators are actionable, trackable, and aligned with organizational objectives.
Helps streamline efforts and resources toward meaningful outcomes.
Why Other Options Are Incorrect:
A: Incorrect interpretation of SMART criteria.
B: SWOT analysis is unrelated to defining results and indicators.
C: Financial forecasting is separate from the SMART model's purpose.
Reference:
SMART Goal-Setting Framework: Provides detailed guidance on using SMART criteria.
Performance Management Best Practices: Emphasize SMART goals in organizational planning.

NEW QUESTION # 223
The Critical Discipline skills of Compliance & Ethics help organizations through which of the following?

A. Identifying mandatory and voluntary obligations, assessing risk, setting policy, educating the workforce, and shaping ethical culture
B. Fostering creativity, encouraging innovation, facilitating brainstorming, supporting idea generation, and promoting design thinking
C. Setting direction, setting objectives and indicators, identifying opportunities, aligning strategies, and managing systems
D. Planning for risks, identifying risks, assessing risks, addressing risks, measuring and monitoring risks, and using decision science

Answer: A

NEW QUESTION # 224
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