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

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

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

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

OpenPages GRC can be extended to address other areas of risk and compliance initiatives. What functional areas or processes could buyers benefit from when using the OpenPages GRC Platform?

A. Vendor risk management, business continuity management

B. Credit risk, liquidity risk

C. Human resources, expense reporting

D. IT governance, marketing campaigns

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

Which statement reflects one of the benefits of the IBM OpenPages GRC platform?

A. OpenPages provides a method to calculate Monte Carlo based calculations to assess risks.

B. Empowers IT to be the focal point of all decision making activities with in the organization.

C. OpenPages provides static reports which can be used by all.

D. Empowers decision makers with scalable interactive reporting, decision support, and forecasting tools.

What is one key question to ask your prospects who are evaluating Governance, Risk and Compliance solutions?

A. How does your organization currently document and report on employee new hire sales training certifications?

B. How effective are your current sales metrics?

C. What is your organization currently using to document, test and report on your financial control compliance?

D. Do you have visibility into your sales pipeline throughout your organization?

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 of the following statements is a principle of GRC convergence?

A. Requires collaboration and coordination.

B. Enables the client to assess risks many times and satisfy few.

C. Is a natural occurrence in any organization.

D. Has no impact on the culture or the organisation.

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