Free OCEG GRCP Exam Questions

Question 1

What is the role of a values statement in an organization?

A : A values statement reflects the shared beliefs and expectations of the organization's leadership, employees, and stakeholders and serves as a guide for establishing a positive and productive organizational culture.

B : A values statement is a legal document that outlines the financial obligations and liabilities of the organization that contribute to its value.

C : A values statement is a formal agreement between the organization and its suppliers to ensure the timely delivery of goods and services that are essential to building the organization’s value.

D : A values statement is a marketing tool used to attract new customers and investors to the organization.

Answer: A

Question 2

Which Critical Discipline of the Protector Skillset includes skills to address obligations and shape an ethical culture?

A : Compliance & Ethics

B : Security & Continuity

C : Governance & Oversight

D : Audit & Assurance

Answer: A

Question 3

What is the difference between prescriptive norms and proscriptive norms?

A : Prescriptive norms are optional guidelines, while proscriptive norms are mandatory rules.

B : Prescriptive norms are related to financial performance, while proscriptive norms are related to ethical behavior.

C : Prescriptive norms are established by government regulations, while proscriptive norms are established by industry standards.

D : Prescriptive norms encourage behavior the group deems positive, while proscriptive norms discourage behavior the group deems negative.

Answer: D

Question 4

What is the role of a values statement in an organization?

A : A values statement reflects the shared beliefs and expectations of the organization's leadership, employees, and stakeholders and serves as a guide for establishing a positive and productive organizational culture.

B : A values statement is a legal document that outlines the financial obligations and liabilities of the organization that contribute to its value.

C : A values statement is a formal agreement between the organization and its suppliers to ensure the timely delivery of goods and services that are essential to building the organization’s value.

D : A values statement is a marketing tool used to attract new customers and investors to the organization.

Answer: A

Question 5

What is the difference between reasonable assurance and limited assurance?

A : Reasonable assurance is provided by external auditors as part of a financial audit and indicates conformity to suitable criteria and freedom from material error, while limited assurance results from reviews, compilations, and other activities performed by competent personnel who are sufficiently objective about the subject matter.

B : Reasonable assurance is provided by internal auditors as part of a risk assessment, while limited assurance results from external audits and regulatory examinations.

C : Reasonable assurance is provided by the Board of Directors as part of governance activities, while limited assurance results from employee self-assessments.

D : Reasonable assurance is provided by management as part of strategic planning, while limited assurance results from operational reviews and performance evaluations.

Answer: A