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OCEG GRCP Exam Syllabus Topics:
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OCEG GRC Professional Certification Exam Sample Questions (Q78-Q83):
NEW QUESTION # 78
What is the design option that involves ceasing all activity or terminating sources that give rise to the opportunity, obstacle, or obligation?
Answer: D
Explanation:
Avoid is a risk management strategy that involves stopping activities or removing sources of risk entirely.
Definition:
Avoidance eliminates the possibility of a risk occurring by ceasing the activity or terminating the risk source.
Examples:
Not entering a risky market.
Discontinuing a product line with regulatory risks.
Why Other Options Are Incorrect:
A (Accept): Involves acknowledging the risk and taking no additional action.
B (Share): Involves transferring part of the risk to another party (e.g., insurance).
D (Control): Involves reducing the likelihood or impact of a risk without eliminating it.
Reference:
ISO 31000 (Risk Management): Highlights avoidance as one of the core risk treatment options.
COSO ERM Framework: Explains risk avoidance as a strategic decision to eliminate exposure.
NEW QUESTION # 79
When should anonymity be afforded to stakeholders who raise issues through notification pathways?
Answer: C
Explanation:
Anonymity should be afforded in notification pathways where legally permitted or required to encourage reporting and protect stakeholders from potential retaliation.
Purpose of Anonymity:
Encourages individuals to report concerns without fear of reprisal.
Supports compliance with legal frameworks, such as whistleblower protection laws.
Why Legal Context Matters:
Some jurisdictions mandate anonymity for certain types of reports, particularly whistleblower disclosures.
Organizations must align their practices with these legal requirements.
Why Other Options Are Incorrect:
A: Denying anonymity discourages reporting, especially for sensitive issues.
C: Anonymity is equally important for employees and external stakeholders.
D: Importance of the issue should not determine the availability of anonymity.
Reference:
ISO 37002 (Whistleblowing Management Systems): Recommends anonymous reporting pathways where legally permitted.
OCEG GRC Capability Model: Emphasizes anonymity as a critical element of effective notification systems.
NEW QUESTION # 80
What is the significance of developing relationships with key individuals and champions within stakeholder groups?
Answer: B
Explanation:
Developing relationships with key individuals and champions within stakeholder groups is essential for aligning organizational objectives with stakeholder expectations and ensuring effective communication and collaboration.
Significance of Key Relationships:
Influence and Power: Identifying and liaising with individuals who hold influence within stakeholder groups helps to drive alignment and build trust.
Facilitating Change: Champions within stakeholder groups can advocate for organizational initiatives and promote collaboration.
Risk Mitigation: Engaging with influential stakeholders reduces the risk of resistance to organizational decisions or strategies.
Why Option B is Correct:
Option B highlights the importance of building relationships with individuals who have actual power and influence, which is critical for stakeholder management.
Option A is inappropriate, as granting special privileges may lead to unethical practices.
Option C focuses on brand promotion, which is a marketing activity, not the purpose of stakeholder engagement.
Option D (gathering intelligence) is unethical and not aligned with principled stakeholder management.
Relevant Frameworks and Guidelines:
ISO 31000 (Risk Management): Recommends stakeholder engagement as part of effective risk management.
OCEG Principled Performance Framework: Highlights the importance of engaging key stakeholders to achieve alignment and trust.
In summary, building relationships with key individuals and champions within stakeholder groups enables organizations to effectively manage stakeholder expectations, drive collaboration, and support organizational initiatives.
NEW QUESTION # 81
What is the term used to describe the level of risk in the absence of actions and controls?
Answer: A
Explanation:
Inherent Riskrefers to the level of risk presentbefore any mitigation actions or controls are applied.
* Definition:
* It represents the natural level of risk associated with an activity or environment without considering risk management measures.
* Contrasted with Residual Risk:
* Residual Riskis the risk remaining after mitigation efforts are applied.
* Why Other Options Are Incorrect:
* A(Uncontrolled Risk): Not a standard risk management term.
* C(Vulnerability): Refers to weaknesses that increase susceptibility to risk, not the risk level itself.
* D(Residual Risk): Comes after controls are applied, opposite to inherent risk.
References:
* COSO ERM Framework: Discusses inherent risk as a baseline for evaluating control effectiveness.
* ISO 31000 (Risk Management): Explains inherent risk in the context of risk assessments.
NEW QUESTION # 82
How can an organization know the concerns and needs of its stakeholder groups?
Answer: D
NEW QUESTION # 83
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