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.

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

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

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 IBM GRC solution consists of what group of standard modules?

A. IT Governance, Market Risk, Audit, Operational Risk, Policy Compliance Management

B. IT Governance, Financial Control Management, Audit, Operational Risk, Policy Compliance Management

C. IT Governance, Market Risk, Audit, Operational Risk, Vendor Risk management

D. IT Governance, Credit Risk, Audit, Operational Risk, Policy Compliance Management

OpenPages solutions provide the capability to integrate with other IBM analytics products. What IBM analytics tools provide the ability to uncover unexpected patterns, trends and associations from their risk and compliance data?

A. Websphere, SPSS

B. Cognos, SPSS

C. TM1, Tivoli

D. Lombardi, Cognos

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

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.

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