Question 1

You are helping your client identify and define their controls. You have determined that your client requirestwo perspectives: Business Units and Regulatory Standards.The controls are going to be secured by the business unit, and you want to ensure that when the client definesnew controls, it is mandatory to assign a Business Units perspective to the control. You are going to set the“Required” field to “yes” for the Control-Business Units association.Where do you do this in the product?

Options :

A : The Create Control screen

B : The Manage Object Perspectives screen

C : The Import template

D : The Create Perspectives screen

E : The Manage Module Perspectives screen

Answer: D

Question 2

An assessor is trying to complete an operational assessment on a control for manual AP Invoice entry and isreviewing Prior Results.Which statement is true about viewing Prior Results for this control?

Options :

A : He or she will be able to review results of all prior assessments of all types for this control.

B : He or she will be able to review results of all prior Audit tests and operational assessments for this control.

C : He or she will be able to review only results of prior operational assessments for this control.

D : He or she will be able to review results of all prior operational assessments for all controls.

E : He or she will be able to review results of all prior assessments of all types for all controls.

Answer: B

Question 3

You are implementing Advanced Financial Controls and you want to identify suspect transactions where thepayment amount is less than $20 USD. However, you only want the results returned to be temporary.What will you build in order to accomplish your objective?

Options :

A : Template

B : Control

C : Model

D : Filter

E : Business object

Answer: C

Question 4

You have created a risk definition R100 and have created a new control C100 for this risk. No user has been assigned the Risk or Control reviewer and approver roles. What will be the state of R100 and C100 after submitting?

Options :

A : Both R100 and C100 will be in the “In Review” state.

B : Both R100 and C100 will be in the “Awaiting Approval” state.

C : Both R100 and C100 will be in the “Approved” state.

D : Both R100 and C100 will be in the “New” state.

Answer: B

Question 5

You have imported risks in Financial Reporting Compliance using data migration. Your client is asking if youcan add controls for these risks.Which two statements are true? (Choose two.)

Options :

A : To relate controls to risks, the risks must be in “approved” state.

B : You cannot use the Data Migration tool to add control records to map to existing risks.

C : You can use the Data Migration tool to add control records for the existing risks.

D : To relate controls, risks must be assigned to the same perspective that is assigned to the control you want to map it to.

E : You can manually add control definitions and relate them to the risks in Financial Reporting Compliance.

Answer: C,D

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