Practice Test Geeks(GRC) Governance, Risk, and Compliance Certification Practice Test
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Governance Frameworks & Best Practices Flashcards

7 cards from real GRC practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Governance Frameworks & Best Practices flashcards as text

  1. A company adopts COBIT 2019 and focuses on the management objective 'APO12 Managed Risk.' This objective belongs to which COBIT domain?

    Answer: Align, Plan and Organize (APO)

    APO (Align, Plan and Organize) is the domain containing APO12 Managed Risk, reflecting its strategic and planning nature.

  2. Which of the following best describes 'governance washing' in a corporate context?

    Answer: Publicly claiming strong governance practices without substantive implementation

    Governance washing refers to organizations projecting an image of strong governance through marketing or disclosures while failing to implement meaningful controls.

  3. Under Sarbanes-Oxley Section 302, who must personally certify the accuracy of financial reports?

    Answer: The CFO and CEO

    SOX Section 302 requires the CEO and CFO to personally certify the accuracy and completeness of financial reports filed with the SEC.

  4. In governance frameworks, a 'maturity model' is primarily used to:

    Answer: Benchmark and roadmap the improvement of governance capabilities

    Maturity models provide a structured scale for assessing current capability levels and planning incremental improvements toward a target state.

  5. Which governance best practice addresses conflicts of interest by requiring board members to disclose personal financial interests related to company decisions?

    Answer: Related-party transaction disclosure

    Related-party transaction disclosure requires directors to reveal personal financial interests that could influence their objectivity on board decisions.

  6. The NIST Privacy Framework's 'Communicate-P' function focuses on:

    Answer: Increasing awareness of how privacy values are implemented in policies and practices

    The Communicate-P function involves developing and implementing activities to inform individuals and increase awareness of privacy policies and practices.

  7. An organization implements a 'comply-or-explain' governance regime. This means companies must:

    Answer: Either follow the code's provisions or explain publicly why they have not

    Under comply-or-explain, companies must either follow each code provision or provide a public explanation of why they have departed from it.