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IBM Risk Analytics for Governance Risk and Compliance Sales Mastery Test v1

Question No: 1

What is one key question to ask your prospects who are evaluating Governance, Risk and Compliance solutions?

  1. How does your organization currently document and report on employee new hire sales training certifications?

  2. How effective are your current sales metrics?

  3. What is your organization currently using to document, test and report on your financial control compliance?

  4. Do you have visibility into your sales pipeline throughout your organization?

Answer: C

Question No: 2

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

  1. Manage a predictive analytics framework to report to multiple regulators.

  2. Manage XBRL content for Solvency II Pillar 3 requirements.

  3. Manage risk and compliance across multiple regulations, including Basel II and Solvency II.

  4. Manage risk and compliance across multiple regulations, excluding Basel II and Solvency II.

Answer: C

Question No: 3

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?

  1. Employee Privacy (FDIC), Public Heath and Safety, Health and Human Services

  2. Privacy (Gramm-Leach-Bliley Act), Industry specific (Basel II), Government (Dodd-Frank Act)

  3. Consumer Credit Protection Act (FDIC). Energy and Utilities Acts

  4. Credit Risk and Regulatory Capital. Counterparty Credit Risk

Answer: D

Question No: 4

Which indicator should alert you to an OpenPages GRC opportunity?

  1. Collaborate and automated systems defined by line of business managers

  2. Robust reporting and non-redundant risk and controls data collection

  3. Integrated, inexpensive approaches to data collection

  4. Line of business managers lack risk data and reporting intelligence to evaluate risk exposure

Answer: D

Question No: 5

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?

  1. BWise. Thomson Reuters. Oracle

  2. Oracle. Microsoft. SAP

  3. SAP. BWise, HP

  4. 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)

Question No: 6

According to the CRO Forum with regard to Operational Risk and Solvency II, quot;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#39;s processes and mitigation activities to prevent or respond to such eventsquot;.

From the list below, what should an operational risk management system encompass?

  1. Risk policy. Risk appetite. Risk tolerance. Risk identification. Risk assessment. Risk monitoring and Risk mitigation

  2. Risk policy. Risk appetite. Risk scaling and Risk mitigation

  3. Risk policy. Risk scripting. Risk tolerance. Risk identification. Risk Assessment, Risk monitoring and Risk mitigation

  4. Risk policy. Risk predictions. Risk tolerance. Risk identification. Risk Assessment. Risk monitoring and Risk mitigation

Answer: D

Question No: 7

What is one of the most common issues to listen for from a client who would benefit from deploying IBM OpenPages GRC solution?

  1. The client is looking for an advanced calculation engine to calculate capital and market values.

  2. The organization is designed around a siloed approach, resulting in redundant data collection and an expensive model to maintain.

  3. Business users would like to be more proactive and look for trends in the business using predictive analytics.

  4. Report users require a XBRL format report to present to regulators.

Answer: C

Question No: 8

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?

  1. Basel II

  2. Solvency II

  3. Sarbanes-Oxley

  4. Carbon Reduction Commitment

Answer: D

Question No: 9

There are many competitive differentiators with IBM OpenPages Governance, Risk and Compliance solutions.

Which option is not a competitive differentiator?

  1. Fully integrated risk management platform

  2. Flexible, patented metadata-driven object model

  3. Extensive business intelligence and reporting dashboards

  4. Non-configurable object model and reporting engine

Answer: D

Question No: 10

Which option is not a pain point when selling a Governance. Risk and Compliance solution to the identified buyers?

  1. Line of business managers lack risk data and intelligence to evaluate risk exposure

  2. Lack of a central repository to track risk and control self assessments

  3. No integrated reporting across risk management activities

  4. Automated system to report risk exposure trends

Answer: D

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