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GRCP PDF VCE - GRCP Pdf Version
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GRCP PDF VCE | OCEG GRCP Pdf Version: GRC Professional Certification Exam Latest Released
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OCEG GRC Professional Certification Exam Sample Questions (Q161-Q166):
NEW QUESTION # 161
How can inconsistent incentives impact the perception of employees and business partners?
- A. They can improve the company's public image
- B. They can lead to perceptions of favoritism and mistrust
- C. They can reduce the risk of legal disputes
- D. They can increase employee motivation and productivity
Answer: B
Explanation:
Inconsistent incentivesrefer to rewards or recognition that are applied unevenly or unfairly across employees or business partners. These inconsistencies can result in negative perceptions, includingfavoritismandmistrust
, which can erode morale, collaboration, and loyalty.
Key Impacts of Inconsistent Incentives:
* Perceptions of Favoritism:
* Employees or business partners may feel that others are unfairly rewarded or treated preferentially, leading to resentment.
* Example: Only rewarding a select few employees for group efforts without clear criteria.
* Erosion of Trust:
* Inconsistent application of incentives can undermine trust in management or leadership.
* Example: Changing bonus criteria without transparency may cause employees to doubt the fairness of the system.
* Decreased Morale and Engagement:
* Employees or partners may become disengaged if they perceive unfairness, leading to reduced collaboration and performance.
Why Option B is Correct:
Inconsistent incentivescreate perceptions of favoritism and mistrust, harming relationships and organizational culture.
Why the Other Options Are Incorrect:
* A. Reduce the risk of legal disputes: Inconsistent incentives are more likely to increase, not reduce, the risk of legal or contractual disputes.
* C. Increase employee motivation and productivity: Perceived unfairness typically reduces, rather than increases, motivation and productivity.
* D. Improve the company's public image: Negative perceptions due to inconsistent incentives can damage, not enhance, a company's reputation.
References and Resources:
* ISO 37001:2016- Highlights the risks of inconsistent incentive systems in anti-bribery management.
* COSO ERM Framework- Discusses the importance of fair and transparent incentives in achieving organizational objectives.
* Harvard Business Review- Research on the effects of fairness and consistency in incentive programs.
NEW QUESTION # 162
Why is it important for an organization to define events and timescales that trigger reconsideration of external factors?
- A. It eliminates the need for supply chain management and procurement activities on an ongoing basis and only requires response to defined events in the supply chain
- B. It ensures that the organization remains responsive and adaptable to changes in the external context that may impact its operations and objectives
- C. It helps the organization avoid the need for hiring consultants or law firms to recommend how to respond to changes in the external context
- D. It allows the organization to reduce its staff time addressing changes in the external context
Answer: B
NEW QUESTION # 163
What are norms?
- A. Norms are customs, rules, or expectations that a group socially reinforces.
- B. Norms are the typical ways that the business operates.
- C. Norms are the normal or typical financial targets set by the organization.
- D. Norms are the regular employees of an organization as opposed to contractors brought in for unusual (not normal) projects.
Answer: A
Explanation:
Normsare socially reinforced expectations, customs, or unwritten rules that influence behavior within a group or organization.
* Definition:
* Norms dictate acceptable behavior and interactions within a group.
* Importance in Organizations:
* Norms shape the organizational culture and influence decision-making, collaboration, and communication.
* Examples of Norms:
* Greeting colleagues in the morning.
* Responding promptly to emails within a set timeframe.
References:
* Corporate Culture Studies: Discuss how norms develop and their impact on group behavior.
* COSO Framework: Links norms to cultural elements in governance and risk.
NEW QUESTION # 164
Which category of actions and controls in the IACM includes human factors such as structure, accountability, education, and enablement?
- A. Information
- B. Policy
- C. Technology
- D. People
Answer: D
NEW QUESTION # 165
What is a potential limitation of using qualitative analysis techniques in the context of risk, reward, and compliance?
- A. Qualitative analysis techniques are only useful for analyzing compliance-related risks.
- B. Qualitative analysis techniques are not applicable to the analysis of risk and reward.
- C. Qualitative analysis techniques rely on descriptive data and subjective judgments, which may result in less precise estimations compared to quantitative analysis.
- D. Qualitative analysis techniques always lead to incorrect conclusions about risk, reward, and compliance.
Answer: C
Explanation:
Qualitative analysis techniques rely on descriptive data, expert judgment, and subjective assessments, making them useful for certain contexts but potentially limited in precision.
Limitations of Qualitative Analysis:
Subjectivity: Results may vary depending on the perspective and experience of the individuals conducting the analysis.
Precision: Lack of numeric data may result in less accurate estimations compared to quantitative methods.
Strengths of Qualitative Analysis:
Useful in scenarios where data is unavailable or events are too complex for numerical evaluation.
Provides insights into risks, rewards, and compliance in terms of likelihood and severity.
Why Other Options Are Incorrect:
A: Qualitative analysis does not inherently lead to incorrect conclusions; its accuracy depends on its application.
B: Qualitative methods are widely applicable in risk and reward analysis.
D: It is not limited to compliance-related risks.
Reference:
ISO 31000 (Risk Management): Explains the role of qualitative methods in risk assessments.
COSO ERM Framework: Discusses qualitative and quantitative analysis in decision-making.
NEW QUESTION # 166
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