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.

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

What roles are held within an organization by the primary buyers of Governance, Risk and Compliance (GRC) solutions?

A. IT Managers, Customer Support Managers

B. Chief Risk Officer (CRO), Chief Compliance Officer (CCO), Chief Information Officer (CIO), Chief Financial Officer (CFO)

C. Human resource manager

D. Marketing Director

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 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

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