Preview Questions Compliance Officer | Role Specific Skill

Question 1: Which regulation requires financial institutions to report suspicious transactions that might indicate money laundering?

Which action should you take?

Choose only one option

Bank Secrecy Act (BSA)

Glass-Steagall Act

Dodd-Frank Act

Gramm-Leach-Bliley Act

Question 2: What type of risk does the ISO 31000 standard primarily address?

Which action should you take?

Choose only one option

Credit risk

Market risk

Compliance risk

All types of risks affecting organizational objectives

Question 3: What is "risk culture" in the context of enterprise risk management?

Which action should you take?

Choose only one option

A type of financial risk

A formalized risk policy

A compliance checklist

The organization's shared values and practices towards managing risk

Question 4: What is the purpose of a heat map in risk management?

Which action should you take?

Choose only one option

Evaluate customer feedback

Monitor compliance training

Track financial performance

Visualize the likelihood and impact of identified risks

Question 5: What is the purpose of scenario analysis in risk management?

Which action should you take?

Choose only one option

Improve marketing efficiency

Develop new business strategies

Evaluate potential impacts of specific risk scenarios

Identify profitable market segments

Question 6: What is the primary function of the Basel III framework in regulatory compliance?

Which action should you take?

Choose only one option

Enhance financial institution stability

Prevent money laundering

Reduce operational risks

Limit risky lending