OCEG GRCA - GRC Auditor Exam
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Total 100 questions
Question #11 (Topic: Topic 4, What is Assurance?
)
What is the role of an Assurance Provider in the assurance process?
A. To oversee the daily operations of the organization
B. To produce and gather data for external audits
C. To mediate the relationship between Information Producers and Information Users, providing confidence that statements are accurate
D. To develop risk management strategies for the organization
Answer: C
Question #12 (Topic: Topic 4, What is Assurance?
)
How does Assurance support the goals of a GRC Capability?
A. It helps gather data for financial audits to meet reporting requirements.
B. It focuses on improving operational efficiency by monitoring daily activities.
C. It provides confidence to stakeholders that the organization is achieving its objectives, addressing uncertainties, and acting with integrity.
D. It ensures that management develops new risk management policies.
Answer: C
Question #13 (Topic: Topic 5, When is Assurance Needed?
)
What is one of the key reasons an organization might seek a high level of assurance in its risk management program?
A. The organization is planning to expand its operations into new regions.
B. The organization wants to improve its internal operational efficiency.
C. The organization is looking to lower its compliance costs.
D. The potential impact of a risk materializing could be so significant that it could damage the organization if not properly managed.
Answer: D
Question #14 (Topic: Topic 5, When is Assurance Needed?
)
A competitor is partnering with a technology firm to develop a new product. Both parties have concerns about the trustworthiness of the information exchanged during the collaboration due to their competitive relationship.
What role does assurance play in this scenario?
What role does assurance play in this scenario?
A. The parties should cease exchanging information to avoid potential conflicts.
B. An Assurance Provider can act as an intermediary, providing confidence that the information exchanged is accurate and reliable.
C. They should exchange only limited information to protect their interests.
D. Each party should rely on their internal teams to verify the information independently.
Answer: B
Question #15 (Topic: Topic 5, When is Assurance Needed?
)
How does assurance help when the effect of a potential risk materializing is high?
A. Assurance eliminates all potential risks from occurring.
B. Assurance focuses primarily on low-impact risks to increase operational efficiency.
C. Assurance provides a review of past performance.
D. Assurance provides a high level of confidence that the organization’s risk management activities are functioning effectively, reducing the likelihood of unexpected issues.
Answer: D
