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.

What regulations or areas of regulations would a typical public multinational firm be subject to that can be addressed using the OpenPages GRC framework model?

A. Employee Privacy (FDIC), Public Health and Safety, Health and Human Services

B. Privacy (Gramm-Leach-Bliley Act), Industry specific (Basel II), Government (Dodd- Frank Act)

C. Consumer Credit Protection Act (FDIC), Energy and Utilities Acts

D. Credit Risk and Regulatory Capital, Counterparty Credit Risk

IBM OpenPages solutions enable customers to manage risk and compliance initiatives across the enterprise. Which one of the following is a feature of the IBM OpenPages GRC Platform?

A. Optimize business performance

B. Change customers' existing methodology

C. Predictive analytics framework

D. XBRL reporting

The IBM GRC solution consists of what group of standard modules?

A. IT Governance, Market Risk, Audit, Operational Risk, Policy Compliance Management

B. IT Governance, Financial Control Management, Audit, Operational Risk, Policy Compliance Management

C. IT Governance, Market Risk, Audit, Operational Risk, Vendor Risk management

D. IT Governance, Credit Risk, Audit, Operational Risk, Policy Compliance Management

What is one benefit for maintaining a centralized library of laws, regulations, and best practices?

A. Harmonized compliance programs for departments and focus areas to promote a standardized and efficient compliance approach

B. Unstructured documentation and remediation of regulatory requirements

C. Non-standard compliance for all regulations to deliver a holistic understanding of all compliance risks

D. De-centralized repository for managing and synchronizing governance with multiple regulations

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

There are many competitive differentiators with IBM OpenPages Governance, Risk and Compliance solutions. Which option is not a competitive differentiator?

A. Fully integrated risk management platform

B. Flexible, patented metadata-driven object model

C. Extensive business intelligence and reporting dashboards

D. Non-configurable object model and reporting engine

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