M2020-624 Online Practice Questions and Answers

What is one of the most common issues to listen for from a client who would benefit from deploying IBM OpenPages GRC solution?

A. The client is looking for an advanced calculation engine to calculate capital and market values.

B. The organization is designed around a soloed approach, resulting in redundant data collection and an expensive model to maintain.

C. Business users would like to be more proactive and look for trends in the business using predictive analytics.

D. Report users require a XBRL format report to present to regulators.

OpenPages PCM is a critical component of implementing an enterprise-wide governance and risk framework. Which benefit can be found within OpenPages PCM?

A. Provides the compliance team with the ability to view and monitor overall organizational compliance posture in single dimensions.

B. Provides a static approach to compliance that with standardized procedures and naming conventions.

C. Delivers static reports that can be used to ensure compliance risks are understood and guarantee that issues are remediated quickly.

D. Provides the compliance team with the ability to view and monitor overall organizational compliance posture in multiple dimensions.

Which option is not a pain point when selling a Governance, Risk and Compliance solution to the identified buyers?

A. Line of business managers lack risk data and intelligence to evaluate risk exposure

B. Lack of a central repository to track risk and control self-assessments

C. No integrated reporting across risk management activities

D. Automated system to report risk exposure trends

What are the key trends that drive Governance, Risk and Compliance initiatives?

A. Regulatory oversights and risk quantification

B. Lack of visibility into risk exposure

C. Decreasing governance demands

D. Soloed risk and compliance initiatives

GRC solutions assist with overcoming the challenges of managing risk across the organization. What is one of the key capabilities with using a GRC tool to overcome these challenges?

A. Disparate systems, multiple data marts and spreadsheets

B. No visibility into risk posture

C. Centralized, multi-regulatory platform

D. Integration with social media

The Enterprise Governance, Risk and Compliance (EGRC) platform market derives from the need for entities to improve the oversight of corporate governance. What is one definition of EGRC?

A. The state or fact of according with or meeting rules and standards.

B. A risk arising from execution of a company's business functions.

C. The management, measurement, remediation and reporting of controls and risks against objectives in accordance with rules, regulations, standards, policies and business decisions.

D. A set of agreements set by the Basel committee on Bank Supervision, which provides recommendations on banking regulations to capital.

Which indicator should alert you to an OpenPages GRC opportunity?

A. Collaborate and automated systems defined by line of business managers

B. Robust reporting and non-redundant risk and controls data collection

C. Integrated, inexpensive approaches to data collection

D. Line of business managers lack risk data and reporting intelligence to evaluate risk exposure

Convergence is the key to maximizing an organization's governance efforts in today's high profile regulated industries. What are 4 steps towards effective risk and compliance management?

A. Manual, operationalize, identification, reporting

B. Recognize, harmonize, synchronize, rationalize

C. De-synchronize, transparency, harmonize, visibility

D. Decrease agility, decrease visibility, flexibility, and configurability

Which one of the following capabilities is NOT necessary for a fully scalable integrated risk and compliance management solution?

A. Document management and workflow

B. Issue remediation, integrated dashboards and dimensional reporting

C. Disparate systems and reporting

D. Surveys, assessments and key metrics

A recent International Data Corporation (IDC) Worldwatch study revealed that an average $500 million corporation is subject to at least 35 40 regulatory mandates. GRC solutions assist with managing regulatory mandates in a central library for automation and reporting. Which regulations below would a financial institution not be responsible for adhering to?

A. Basel II

B. Solvency II

C. Sarbanes-Oxley

D. Carbon Reduction Commitment