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.

Analyst reports (Gartner and Forrester) have named IBM OpenPages as one of the leaders for enterprise Governance, Risk and Compliance platforms. Who are three main competitors who have been identified by the analysts in this space?

A. BWise, Thomson Reuters, Oracle

B. Oracle, Microsoft, SAP

C. SAP, BWise, HP

D. Oracle, Archer, SAS

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

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

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?

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.

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