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  1. Home
  2. GAQM Certification
  3. ISO-31000-CLA Exam
  4. GAQM.ISO-31000-CLA.v2024-01-03.q34 Dumps
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Question 6

Where does an internal auditor typically spend most of his time auditing today?

Correct Answer: B
Explanation
According to , page 9, one of the current trends in auditing, risk management and compliance is "shifting from auditing people to auditing processes". This means that internal auditors focus more on how well an organization's processes are designed and implemented to achieve its objectives and manage its risks.
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Question 7

An international bank has identified the risks associated with economic changes in the countries in which it operates. Which of the following correctly describes these risks?

Correct Answer: C
Explanation
According to 1, page 15-16, external risks are "those arising from events outside the organization" and marketplace risks are "those arising from changes in market conditions such as customer demand, competition, regulation". Economic changes in different countries can affect the market conditions for an international bank's operations.
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Question 8

A program officer and a security manager are planning a focus group discussion with community members on potential risks related to projects on female empowerment in local secondary schools. What is the best approach for them to take to define the context?

Correct Answer: D
Explanation
According to , page 9, defining the context involves "understanding what influences people's perception and tolerance of risks". Discussing how girls are viewed by community members can help identify potential sources of resistance, conflict or violence that may affect the project's objectives and outcomes.
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Question 9

Which two of the following are types Integrated Processes? (Choose two)

Correct Answer: A,C
Explanation
People processes and hard processes are two types of integrated processes3. People processes involve human factors such as culture, values, ethics, and behavior that influence risk management. Hard processes involve technical aspects such as methods, tools, techniques, and systems that support risk management.
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Question 10

Which of the following significant risks of reporting are outside the risk appetite of the organization and can impact compliance, which may also be reportable to regulatory agencies? (Choose two)

Correct Answer: A,C
Explanation
External and internal risks are significant risks of reporting that are outside the risk appetite of the organization and can impact compliance, which may also be reportable to regulatory agencies1. These risks may arise from external factors such as market changes, natural disasters, or cyberattacks, or internal factors such as human errors, fraud, or system failures.
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