IBM Risk Analytics for Governance Risk and Compliance Sales Mastery Test v1 v6.0

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Exam contains 24 questions
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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?


Answer : C

What does the IBM OpenPages GRC Platform allows organizations to do?

  • A. Manage a predictive analytics framework to report to multiple regulators.
  • B. Manage XBRL content for Solvency II Pillar 3 requirements.
  • C. Manage risk and compliance across multiple regulations, including Basel II and Solvency II.
  • D. Manage risk and compliance across multiple regulations, excluding Basel II and Solvency II.


Answer : C

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 Heath 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


Answer : D

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


Answer : D

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


Answer : A

Reference:http://www.citia.co.uk/content/files/magic-quadrant-for-enterprise-governance- risk-and-compliance-platforms-2012_70384698.pdf(page 2)

According to the CRO Forum with regard to Operational Risk and Solvency II, "At the heart of operational risk management is a clear understanding of the operational risk events that may occur and the strength of the company's processes and mitigation activities to prevent or respond to such events".
From the list below, what should an operational risk management system encompass?

  • A. Risk policy. Risk appetite. Risk tolerance. Risk identification. Risk assessment. Risk monitoring and Risk mitigation
  • B. Risk policy. Risk appetite. Risk scaling and Risk mitigation
  • C. Risk policy. Risk scripting. Risk tolerance. Risk identification. Risk Assessment, Risk monitoring and Risk mitigation
  • D. Risk policy. Risk predictions. Risk tolerance. Risk identification. Risk Assessment. Risk monitoring and Risk mitigation


Answer : D

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 siloed 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.


Answer : C

A recent International Data Corporation (IDC) Worldwatch study revealed that an average
$500 million corporation issubjectto 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


Answer : D

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


Answer : D

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


Answer : D

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


Answer : A

Reference:http://www-03.ibm.com/software/products/en/openpages-grc-platform/

OpenPages GRC can be extended to address other areas of risk and complianceinitiatives.
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


Answer : A

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.


Answer : C

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


Answer : D

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 theorganization.


Answer : B

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