IBM IBM Business Analytics M2020-624 Questions & Answers

• Question 1:

  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

  Correct Answer: B

• Question 2:

  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.

  Correct Answer: C

  http://www-01.ibm.com/software/analytics/openpages/ (second bullet)

• Question 3:

  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

  Correct Answer: C

• Question 4:

  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

  Correct Answer: D

• Question 5:

  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

  Correct Answer: C

• Question 6:

  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

  Correct Answer: D

• Question 7:

  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.

  Correct Answer: A

• Question 8:

  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.

  Correct Answer: C

• Question 9:

  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?

  Correct Answer: C

• Question 10:

  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

  Correct Answer: C