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Exam Code: 2016-FRR
Exam Name: Financial Risk and Regulation (FRR) Series
Vendor: GARP

60 Questions & Answers
Verified by IT Certification Professionals

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NEW QUESTION: 1
Voice of the Business is a Lean Six Sigma technique to determine the needs and wants of the
______________ of the business.
A. Managers
B. Debt holders
C. Owners
D. Staff
Answer: C
Explanation:
Explanation/Reference:
Explanation:

NEW QUESTION: 2
Which global institution is concerned with enforcing the GATT?
A. The G20
B. The IMF
C. The World Trade Organization
D. The World Bank
Answer: C

NEW QUESTION: 3
Bungling, Inc., is currently facing a lawsuit as a defendant. Its honest lawyers estimate that there is a 60-40 chance that Bungling will lose the lawsuit. The jury could award the plaintiff punitive damages ranging from
$10,000 to $50,000. Bungling should
A. recognize a liability of $10,000 on its balance sheet.
B. not do anything since the lawsuit is still not decided and considerable uncertainty exists.
C. not recognize any liability but disclose the details in footnotes.
D. recognize a liability of $50,000 on its balance sheet as a conservative estimate.
Answer: C
Explanation:
Explanation/Reference:
Explanation:
If considerable uncertainty exists in measurement of an asset or a liability arising from events like a lawsuit, disclosure must occur in footnotes. The disclosure includes the nature of the contingency and an estimate or a range of estimates about the possible losses.

NEW QUESTION: 4
Which option is an accurate use case for Information Centric Encryption (ICE)?
A. The ICE utility encrypts files matching DLP policy being copied from network share through use of certificates
B. The ICE utility encrypts files matching DLP policy being copied to removable storage through use of encryption keys.
C. The ICE utility encrypts files matching DLP policy being copied to removable storage on an endpoint use of certificates.
D. The ICE utility encrypts files matching DLP policy being copied from network share through use of encryption keys.
Answer: B


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